How big a role do you think the Oil & Gas Middle East and Refining & Petrochemicals Middle East Awards, now in its 8th year, plays in recognising and rewarding laudable work in the regional industry?
Last year witnessed the Middle East remaining as the world’s largest oil-producing region. It also accounted for all of the net growth in global production of oil and crude oil exports in the regional industry. As oil and gas and petrochemicals continue to make innovative feats and discoveries in areas such as engineering operations and production, it is important to have a platform that rewards these strides and the major players in the market, while setting international benchmarking standards.
Considering it is your first time as a sponsor, do you agree that our Awards truly recognise quality work and talent in the industry?
Yes, we believe that the Awards reflect innovation, benchmarked quality and exceptional talent in the industry.
What is it about our awards that made you decide to sponsor it?
Turbine Services & Solutions is a company that works closely with several oil and gas and petrochemical companies, and feels the responsibility to participate in these awards as a pioneer member of the energy community. Standing out in an increasingly changing market is difficult, awards set a company apart from competitors and highlights its achievements.
How necessary do you think is it to recognise the stakeholders’ performance in the 12 categories of our Awards?
It is essential to encourage and promote operational excellence, HSE and CSR across businesses that have created strategic facilities and products to benefit the energy industry to ensure business development, contribute to human capability and incite productivity. Stakeholder performance in these verticals allow for accountability and growth in areas that can affect business activities and performance management. Recognising key strides stakeholders are making in areas such as operations, and health and safety as well corporate social responsibility, helps to steer direction and gain industry insight into approach and execution.
With crude oil prices trading at around US$50 a barrel and with companies across the value chain having to cope up with new realities, what challenges and opportunities is the sector likely to witness going forward?
Most of the oil and gas industry has survived an especially tough few years with weak demand and low prices. The main foreseeable challenge is to maintain a lower operational cost. With challenges that range from the growing threat of renewable energy to market uncertainties, opportunities come from driving creativity to implement new methods allowing for competitive edge in the market, especially with the oil prices being where they are now.
