Dubai Techno Park and Omni Oil sign agreement to establish first Research and Development Centre for oil tools design and manufacturing
Posted: 28 March 2005
Dubai Techno Park , one of first technology parks of its kind in the Middle East servicing the high technology sector in the region has recently entered into an agreement with Omni Oil Technologies to establish a dedicated facility for the design, engineering and manufacturing of drilling and well-completion tools for the oil and gas industry.
The agreement which was signed by Abdulla Al Qurashi, Chief Executive Officer, Techno Park and Mohammad Makhlouf, President and Chief Executive Officer of Omni Oil Technologies, is aimed at establishing the first entity of this kind in the Middle East .
Commenting on the agreement, Abdulla Al Qurashi said, “Oil and natural gas industry is undergoing dramatic changes with the discovery of new fields, and huge investments are being made in exploration, development and production. The sector is demanding specialised products and through this facility Dubai Techno Park will be able to penetrate the ‘best product’ domain and position itself as a solutions provider for the entire industry in the coming decade.”
“ Dubai Techno Park is an ideal foundation for the success of such an initiative, in order to position the Middle East as a technology and precision product manufacturing source for the global oil and gas industry,” he added.
Speaking about the proposed facility, Mohammad Makhlouf of Omni Oil Technologies said,
“The uniqueness of the Omni Oil Technologies centre lay in adding the engineering and design ingredient, and therefore, technology development to a quality manufacturing industry in the Middle East. No such venture exists at the moment. ”
The centre will aim at adding value to the current and future oil and natural gas exploration and processing industry in the Middle East region through supporting existing providers with local engineering, design improvements, economical manufacturing, delivery, warehousing and logistical support to their operations.
“On the basis of quality and design value, as well as on acquired manufacturing cost-efficiency, the centre’s products will add value to the marketplace at a regional and global level,” said Makhlouf. “Cost effectiveness would come primarily from the low-cost highly skilled labour available in the UAE, as well as through operation in the Dubai Techno Park , providing a super infrastructure and one window service.”
Dubai Techno Park is purpose-designed to attract industries that have extensive interest in research and development in the fields of oil and gas, desalination and environment management, the zone is a base for some of the world leaders in the technology sectors.
Posted by Editor Pipeline Magazine
Information supplied by companies
or PR agencies who are responsible for content. Send press releases
to info@pipelinedubai.com |
