Attendees heard from CEOs, government officials and NOC representatives at the PESA Middle East Regional District Chapter meeting on March 21. The event was hosted by National Oilwell Varco at the Amwaj Rotana Hotel in Dubai. Chapter Vice Chair Ed Whitnell, Operations Vice President and Managing Director-MENA, NOV, provided welcoming remarks and Chapter Chair Dennis Jol, Vice President, International, DistributionNOW, led the meeting.
The meeting began with Mahesh Joshi, CEO, L&T Valves, discussing global business and how new technologies are impacting the way large companies do business. Joshi addressed how geopolitical uncertainties continue to present challenges as well as opportunities and highlighted forward-looking topics such as the role of humans in a post AI world, new drivers of business and the future of globalization.
Shakir Farsakh, Principal Commercial Officer, Consulate General of the United States, addressed regional business trends and U.S. government support for American companies in the region. He said currently more than 1,500 American companies with regional headquarters or operations in the UAE employing thousands of people are taking advantage of the UAE’s location, transparency and ease of doing business.
Fabrice Abalain, Regional Analyst, Middle East & North Africa, EIC, focused on oil and gas EPC regional project activity and opportunities. Numbers for completed projects during the past 12 years were highest in Saudi Arabia and UAE, followed by Iran and Egypt. Abalain also shared information about projects under implementation from 2019-2025, highlighting not only the number of projects but CAPEX for those projects in various MENA counties throughout the entire value stream.
Lastly, Zahir Al Wahaibi, Strategic Finance Manager, PDO, discussed strategic priorities and projects, as well as challenges PDO is facing around in-country value. He noted increasing sustainable production, generating strong revenues and supporting economic diversification as strategic priorities. Regarding in-country value, PDO is facing local employment social and unemployment challenges. The proposed response to the issue is to set up set up ICV programs to meet social objectives. He also addressed continuous business improvement by implementing lean initiatives, which yield savings in large projects.
The PESA International Outposts Committee will host a roundtable breakout during the 2019 Annual Meeting where committee Chair, Scott Livingston, President, Intervention & Stimulation Equipment, NOV Completion & Production Solutions, will provide an update on the Middle East and Argentina Chapter’s activities.
If you are interested in joining the PESA Middle East Regional District Chapter or any of the PESA Middle East Subcommittees, please contact Vice President Strategy & Programs Molly Determan.
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