How THE RIG. will celebrate Saudi oil and gas heritage and boost tourism

Global Insights
26 January 2024 Riyadh, KSA
  • PIF-owned project will be a world-first adventure tourism destination, located on an offshore platform in the Arabian Gulf
  • THE RIG. develops Saudi Arabia’s oil and gas heritage into tourism, says CEO of the Oil Park Development Company (OPDC) and the entity behind THE RIG.
  • Project aligns with Vision 2030 and PIF’s strategy to diversify the economy, support innovation and sustainability, grow the tourism sector, and improve quality of life 

    Imagine a tourism destination that offers something for everyone, from extreme sports enthusiasts to relaxation seekers, yacht aficionados and families looking for a fun getaway.

    THE RIG., which is located in the Arabian Gulf, is a world-first adventure tourism destination located on an offshore platform. The project will support Vision 2030, Saudi Arabia’s ambitious roadmap for economic diversification, which is focused on creating a vibrant society and improving quality of life for all.

    “That comes with not only the job creation, but also the creation of opportunities for sports, adventure and entertainment venues where people can come and truly spend a unique time and enjoy a very different type of vacation,” said Raed Bakhrji, CEO of the Oil Park Development Company (OPDC) and the entity behind THE RIG. 

    “Vision 2030 is at the center of THE RIG. project, transforming an actual rig and using the oil and gas heritage to go into tourism. It translates the vision into actions.” 

    Indeed, the project aligns with PIF’s and Vision 2030’s strategy to support innovation and sustainability while also growing the tourism sector, among others.

    THE RIG., which will be built by the PIF-owned Oil Park Development Company, recently announced its masterplan. It is a project inspired by Saudi Arabia’s rich oil and gas heritage, and one that will redefine the sea sports and leisure experience. 

    The one-of-a-kind hospitality and adventure experience will span a gross floor area of more than 300,000 square meters, located 40km from the coastline, near Al Juraid Island and Berri Oil Field. It aims to attract over 900,000 annual visitors by 2032.

    Offering three hotels that include 800 rooms, along with 11 restaurants, an extreme sports and adventure park, a marina and helipads, THE RIG. will also feature a range of water activities, plus an immersive theater and multipurpose arena.

    PIF is playing an integral role in the development of the destination. Visitors will be able to access THE RIG. via fast ferries, helicopters, private yachts, and seaplanes; Bakhrji cites transportation services offered by other PIF portfolio companies as an example of PIF’s support.