Dubai Techno Park has entered into an agreement with Omni Oil Technologies to establish a facility that will design, engineer and manufacture drilling and oil well completion tools.
The agreement was signed by Abdullah Al Quraishi, Techno Park's chief executive, and Mohammad Makhlouf, Omni Oil's president and chief executive. It aims to establish the first entity of this kind in the Middle East.
"The oil and natural gas industry is undergoing dramatic changes," Quraishi said.
"The sector is demanding specialised products. Through this facility, Dubai Techno Park will be able to penetrate the 'best product' domain and position itself as a solutions pro-vider for the entire industry in the coming decade," he said.
"The uniqueness of the Omni Oil Technologies Centre [is that it will unite engineering, design and manufacturing] in a quality [facility located] in the Middle East. No such venture exists at the moment," Makhlouf said.
The centre will work to add value to the gas exploration and processing industry in the Middle East by supporting existing players with local engineering expertise, design improvements, economical manufacturing, delivery, warehousing and logistical support.
"The centre's products will add value to the marketplace at [all levels]," Makhlouf said. "Cost effectiveness [will] come primarily from the low-cost, highly-skilled labour available in the UAE [and] through operation in Dubai Techno Park," he said.
Gulf News
