Sime Darby Berhad signaled its intention to make the Middle East a key growth area for its oil and gas business by opening an office in Qatar.
President & Group Chief Executive Dato' Seri Ahmad Zubir Murshid said the Middle East will be a key growth region for the Group and Qatar was chosen as the launching pad into this market because of its vibrant economy and active oil & gas market.
"We are confident that our permanent presence here will give us an advantage in scouting for opportunities in Qatar and other parts of the region," he said at the launch of the Sime Darby Middle East Office.
Qatar has one of the largest gas reserves in the world. Sime Darby Engineering (SDE) is currently executing two major contracts worth more than US$900 million with Qatar Petroleum and Maersk Oil Qatar.
SDE is a major fabricator for oil and gas platforms with a capacity of 60,000 MT per annum. SDE has completed more than 170 structures for several international oil majors, among others – ExxonMobil, Shell, Total Fina Elf and Petronas - over its 25 years existence. Its fabrication yard is located at Pasir Gudang, Malaysia.
To support its current fabrication business going into Engineering, Procurement, Construction, Installation and Commissioning (EPCIC), Sime Darby is also building up its ownership of vessels and is targeting the Middle East as its primary market.
"Apart from oil & gas, we are also on the lookout for business opportunities in our other core business, and expanding our current Asia Pacific asset base," said Dato' Seri Ahmad Zubir.
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