Acknowledged international experts will advise on pioneering energy business centre for the Gulf

Manama, Bahrain, February 22, 2006: Gulf Energy, a global consortium of energy investors and consultants, today announced the creation of the International Advisory Board to the multi-billion dollar Energy City Qatar (ECQ) project. 

Located within the impressive Lusail development in Doha, ECQ will become the Middle East's first integrated energy business centre, consolidating a range of industry and marketing services under one roof, attracting investment from significant global players in the hydrocarbon value chain. 

The city of Lusail is a meticulously planned extension of Qatar's capital city.  A development of an unprecedented scale, Lusail will be home to 200,000 people in distinct residential areas.  ECQ will nestle alongside Lusail's corporate, waterfront, marina, and entertainment districts.    

ECQ aims to attract the industry leaders in oil and gas production, international oil companies, national oil companies, support services, infrastructure and downstream activities, shipping and trading, market and resources data, intellectual property and energy trading. 

ECQ has the full support of the Qatari Government and aims to lead the way in hydrocarbon above ground resource development.

The first member of the International Advisory Board is RICHARD H. MATZKE, from the United States of America.  Mr. Matzke's career spans over 40 years in the energy industry, holding a variety of senior positions around the world. 

It is intended that the international experts will be drawn from different global sectors with an excellent spread of specialisations to support the development of ECQ. 

Mr. Richard H. Matzke retired as vice chairman of ChevronTexaco Corp. in 2002 and is respected industry-wide for his knowledge of oil exploration, strategies, technologies, profitability and capitalisation.  He is best known for his leadership during a period of substantial international growth for Chevron Corp., and for initiating and managing Chevron's acquisition of the super giant Tenzig oil field in Kazakhstan and the Caspian Pipeline across southern Russia. 

In addition to other companies, Mr. Matzke serves on the board of Russia's largest oil company, LUKOIL and chairs its Strategy and Investment Committee.  He is the chairman of the American-Iranian Council, and serves on the board of the National Committee on United States-China Relations and the Advisory Board of the Centre for Strategic and International Studies.  He is also an active member of the Council on Foreign Relations and the Russian-American Chamber of Commerce.

Mr. Esam Janahi, Chairman of Gulf Energy said, "Energy City Qatar is the initial, progressive project of Gulf Energy and I am delighted Mr. Matzke has accepted our invitation to join its International Advisory Board."

Mr. Vahan Zanoyan, CEO and President of PFC Energy, and Board Member of Gulf Energy said, "We are building a board of advisors of exceptional skills and complimentary knowledge that will be central in making Energy City Qatar one of the most advanced energy business centres in the world to the benefit of participants, the region, and the entire energy spectrum worldwide."

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NOTES TO EDITORS
Energy City Qatar - Feel the Energy
Energy City Qatar (ECQ) is a pioneering development that will be the Gulf's first hydrocarbon industry hub.  ECQ will be a single point of access to markets and expertise, the Middle East home for global players in the hydrocarbon value chain.

Developed by Gulf Energy, ECQ aims to attract the industry leaders in O&G production, IOCs, NOCs, support services, infrastructure and downstream activities, shipping and trading, market and resource data, intellectual property and energy trading.

ECQ has the full support of the Qatari Government and aims to lead the way in hydrocarbon above ground resource development.

The 2 square kilometre ECQ forms part of the major new city development, Lusail, which is being developed by Qatari Diar Real Estate Investment Company. In addition to major business and entertainment districts, this development will be home to 200,000 residents.  Qatar is the most progressive, business friendly and the fastest growing economy in the Middle East.  Home to the world's third largest natural gas reserve, Qatar has a stable and maturing political environment, a free press and best in class internationally recognised regulatory environment.

ECQ's lead financial advisor is Gulf Finance House and PFC Energy is its strategic advisor.  Its strategic partners are Abu Dhabi Investment House and Kuwait Investment Co.

Media Enquiries:
Nikhil D'Rozario
Percept Profile Middle East.
Tel: +973 3962 3628 
nikhil@perceptprofilegulf.com

© Press Release 2006