Gulf Energy signs agreement with Microsoft to develop technology solutions for Energy City Qatar project

The MoU provides for the development and implementation of a new generation of advanced enterprise-level solutions to form the necessary technology infrastructure required for the groundbreaking Energy City Qatar project.

Located within the prestigious Lusail development in Doha, Energy City Qatar will become the Middle East's first integrated business energy centre, consolidating a range of industry and marketing services under one roof, attracting investment from significant global players in the hydrocarbon value chain and leading the development of the hydrocarbon industry.

Acting as technology advisor, Accelerator Technology Holdings, a company aimed at helping identify, invest in and build best of breed ventures in the ICT value chain in the Arab world, is a co-signatory to the MoU.

Commenting on its significance, Sheikh Mohammed bin Ahmed bin Jassem Al Thani, Minister of Economy and Commerce, State of Qatar, said: "The State of Qatar is one of the fastest growing economies in the region and we are open to and are promoting all new ventures and strategic partnerships that would contribute positively to our growth. Thus, we welcome this agreement between Microsoft, a world leader in technology, and Energy City Qatar, an integrated centre for the energy business. We are confident that it will have a positive impact on our economy."

The MoU, forms part of the strategy of Energy City Qatar to enter into global partnerships with specialist providers.

Commenting on the agreement with Microsoft, Mr. Esam Janahi, Chairman of Gulf Energy said:

"Energy City Qatar has been conceived as the Middle East's first integrated energy business centre for the oil and gas industry in the region. It will be the most advanced centre of its type, wholly dedicated to serving the world's major oil and gas companies."

"Access to technology will be a key business enabler and driver at Energy City Qatar, and our association with Microsoft is a reflection of our resolve to create a highly advanced technology infrastructure for this project.

"We are confident that our association with Microsoft will be a major contribution towards developing Energy City Qatar into a technology-smart city."

Announced in 2005, Energy City Qatar is a landmark project that will become the region's first integrated energy business centre of above-ground resources, leading the development of hydrocarbons. It also aims at playing host to secondary and tertiary economic activities that will in turn contribute to the economic and social development of the region, which currently accounts for over three quarters of the world's proven oil reserves.

"Microsoft is very pleased to have signed this MoU with Gulf Energy. Microsoft works closely with a large number of global and local partners in the oil and gas industry, which gives us the insight and understanding of the business and technology requirements of this vital sector in the world economy," said Marisé Mikulis, worldwide oil and gas industry manager, Microsoft Corporation.

"Microsoft is also one of the leaders in the development of the digital workstyle / lifestyle and automated environments. We plan to provide companies and individuals working and residing in Energy City Qatar access to state-of-the-art, integrated solutions and services, enabling them to achieve their innovative objectives and visions. We look forward to working with Gulf Energy to realize their vision of Energy City Qatar and to contributing to this important element of Qatar's drive to become a world-class hub for the energy industry" added Mohammad Hammoudi, Country Manager, Microsoft Qatar.

The signing of the MoU between Gulf Energy and Microsoft closely follows the recent appointment of Gulf Finance House as lead financial advisor, and PFC Energy as lead strategic advisor for Energy City Qatar.

Dr. Fawaz H. Zu'bi, Chief Executive Officer, Accelerator Technology Holdings and former Minister of Information and Communications Technology in Jordan, said: "By its very nature, the energy sector is extremely technology intensive - be it subsurface imagery, knowledge management, or fundamental supply chain and enterprise management. As an integrated energy business centre, it is essential that Energy City Qatar provide its tenants and clients not just with access to state-of-the art technology but also with advanced technology customisation facilities. It is here where global technology leaders such as Microsoft will play a pivotal role in shaping the value proposition of Energy City Qatar."

The first phase of Energy City Qatar will be developed at an investment of US$1.6 billion. Gulf Finance House, in partnership with Kuwait Investment Company and Abu Dhabi Investment House, recently concluded a US$276 million private placement aimed at raising equity for the project.

The proposed clusters that will comprise the first development phase of the project include business centres for oil and gas producers, infrastructure and downstream companies, shipping and trading agencies, service industries, and information providers.