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Energy City Qatar sign with National Petroleum Services
- Qatar: Monday, May 21 - 2007 at 09:03
- PRESS RELEASE
Two of Qatar's most dynamic companies, Energy City Qatar and National Petroleum Service, have today signed a 65 million QR contract to construct a new development in Energy City Qatar's Lusail development.
Commenting on the news, Energy City Qatar CEO Hesham Al Emadi was delighted with the agreement: "Energy City Qatar is attracting petroleum service companies to our energy business cluster. However, we are especially delighted to have signed this contract with National Petroleum Service, a Qatari company, the biggest petroleum services company in the region. This deal demonstrates the potential of Energy City to bring together visionary Qatari and international oil and gas companies who understand the importance of working together within the region's own purpose built energy cluster."
National Petroleum Services President and CEO, Abdul Aziz Al Dolaimi, explains the importance of the contract for his company: "National Petroleum Services' move to Energy City Qatar represents our positive commitment to the future of the energy industry in Qatar. Energy City is set to become the Middle East's home for global players in the oil and gas industry and National Petroleum Services understands the business benefits of being located alongside other world class energy companies."
The National Petroleum Service contract is the latest in a series of impressive announcements from Energy City Qatar, sponsors of this week's Qatar Economic Forum. Following the signing of a 700 million QR agreement with Qatar Real Estate Investment Company, Energy City Qatar last week announced phenomenal pre-sales and sales figures of more than 3.5 Billion QR ($960 million USD).
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Pictures: Energy City Qatar CEO Hesham Al Emadi and National Petroleum Services CEO Abdul Aziz Al Dolaimi sign contract for construction of National Petroleum Services new HQ in Energy City Qatar.About Energy City Qatar (ECQ)
Energy City Qatar (ECQ) is a pioneering development that will be the Gulf's first oil and gas industry hub. ECQ will be a single point of access to markets and expertise, the Middle East home for global players in the hydrocarbon value chain.
Envisioned by Gulf Energy, ECQ aims to attract the industry leaders in Oil & Gas production, IOCs, NOCs, support services, infrastructure and downstream activities, shipping and trading, market and resource data, intellectual property and energy trading.
ECQ has the full support of the Qatari Government and aims to lead the way in hydrocarbon above ground resource development.
ECQ forms part of the major new city development, Lusail, which in addition to major business and entertainment districts, will be home to up to 200,000 residents. Qatar is the most progressive, business friendly and the fastest growing economy in the Middle East. Home to the world's third largest natural gas reserves, Qatar has a stable and maturing political environment, a free press, and internationally recognized regulatory environment.
ECQ's lead financial advisor is Gulf Finance House, and PFC Energy is its strategic advisor. Its strategic partners are Abu Dhabi Investment House and Kuwait Investment Company.
About National Petroleum Services
National Petroleum Services (NPS) was founded in 2004 in the State of Qatar, merging three multinational companies providing various services and solutions in the oil, gas and petrochemical industry in the Middle East and North Africa.
NPS is driven by a performance ethic pegged on value creation for its multiple stockholders. The company is anchored by a workforce of over 500 employees belonging to more than 20 different nationalities. Over 90 percent of its revenues flow from its operations across the world. NPS' products and services offer distinctive customer solutions. Its state-of-the-art equipment and sectoral services span Qatar, Saudi Arabia, United Arab Emirates, Syria, Iran, Iraq, Yemen, Jordan, and Sudan.
A premium conglomerate, National Petroleum Services is a dominant player in all the sectors in which it operates, such as Well Services (Coiled Tubing, Cementing, Stimulation and Nitrogen), Drilling & Work over Services (Vertical and Horizontal), and Wireline Logging Services (Cased Open Hole & Perforation).
For further information please contact:
Farid Trabulsi
Head of Corporate Communications
Energy City Qatar
Telephone: +974 441 1522
Steve Whittaker
GCI Worldwide Public Relations
Telephone: +974 428 3126
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