In today’s political and economic climate, there are numerous issues facing the North Sea Oil and Gas industry. Problems such as falling production, lack of positive government support, and rising operating and business costs seem insurmountable. But what if there was an easy solution based in the UAE?
Despite the North Sea O&G industry showing some shoots of recovery recently with positive announcements such as the Acorn project, the Middle East market is accelerating at a significant pace and is desperate for UK companies to bring their technology to the market. Oilfields Supply Center can help.
Oilfields Supply Center Limited (OSC) is a specialist oilfield logistics company that operates the largest Common User Supply Base in the Middle East. With a footprint of over 11 million square feet in three strategic locations across Dubai, it is ideally placed to help UK oil and gas companies secure a foothold in the region.
Challenges facing the oil and gas industry today
The historical UK oil and gas market is in decline and will be for the foreseeable future. Business operating and overhead costs are high due to numerous factors, all of which make the UAE an attractive market for UK companies.
© Supplied by OSCIssues of production in the North Sea:
According to the data from the North Sea Transition Authority, North Sea oil and gas production is on course to fall from just over 90.3m tonnes of oil equivalent in 2019 to just over 46.3m within the next five years.
Experts like Mike Tholen, a director at Offshore Energies UK, predict a “natural long-term decline” of the North Sea which would indicate that the UK’s oil and gas production may never increase.
In contrast, Middle East activity levels continue to growth offering an alternative market for UK oil and gas companies to prosper in.
Opportunities for growth in the Middle East
The board of Abu Dhabi’s ADNOC recently endorsed plans to bring forward the company’s five million barrel per day oil production capacity expansion to 2027 from a previous target of 2030, to meet rising global energy demand. To facilitate meeting these growth targets approximately $150bn of investment has been approved.
As advised by ADNOC, the UAE’s reserves base now stands at 113 billion barrels of oil and 290 Tcf of natural gas. making it the sixth-largest oil reserve and the seventh-largest gas reserve in the world.
Billions of dollars’ worth of engineering, procurement and construction projects are likely to be offered by ADNOC in the next few years, as it accelerates projects with significant awards already being made in 2023 so far. The market is significant in scale with ADNOC and other Middle East operators having a huge appetite for the innovative technology developed and utilised in the North Sea.
What’s more, within the Middle East, the UAE is one of the most stable environments to live and work, making it a perfect location to set up business. The local government robustly supports the existence of many oil and gas companies. Services like Oilfields Supply Center (OSC) facilitate the ease of business with local governments and partners, from inception and through all phases of business.
Oilfields Supply Center can help with its integrated Common User Supply Base in Dubai
© Supplied by OSCEstablished in the early 1960s under the Chairmanship of His Highness Sheikh Hamdan Bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance and Industry for the U.A.E, OSC boasts a client base including both large and small oil service companies and additionally, performs a wide range of customisable services for customers as required.
As stated by customer Graham Goodall of Hunting:
Oilfield Supply Center have been our partner for over ten years. They have provided our company the platform that enables our business to function and grow across the Middle East Region.” – Graham Goodall, Hunting
With a footprint of over 11 million square feet in Jebel Ali Free Zone, TechnoPark, and Dubai Industrial City, OSC is inviting more UK based oil and gas companies to make use of their services and facilities as a a perfect solution for UK companies looking to establish a presence in the Middle East.
In addition to storage facilities, equipment rental, and manpower assistance (currently boasting over 1300 employees in its various service operations and manufacturing facilities), OSC also offers unparalleled business facilitation and logistical services for its customers.
Craig Rose, senior manager of strategy and planning, described how OSC assists its customers to conduct business in the Middle East environment. “OSC provides a unique range of services to assist our customers to undertake business as efficiently as possible. Having operated for over 60 years in this field we have refined our business through market experience and listening to the needs of our customers. We tailor our offerings as needed as to provide custom solutions which can be as simple or complex as needed.”
OSC is unique in the services and efficiencies it can provide for your business.” Craig Rose, OSC
Why work with OSC? The company not only provides the Common User Supply Bases with ready to use units all the way to custom-built facilities, open storage, logistics services with full import / export and customs clearing capabilities, but also has a number of subsidiary companies offering downhole tool manufacturing and repair, custom-build engineering services, drilling fluids, centrifuge and rotating equipment repair amongst others. As a Dubai Government company with the strongest possible QHSE focus and API accreditation, you can be assured that OSC offers you the perfect solution to participate in the Middle East market.
Learn more about how Oilfields Supply Center can help your UK oil and gas business, from Aberdeen to the UAE.
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