04 November 2015Chief Executive Samir Brikho to participate in ADIPEC panel session: Operations: The New Era of Operations Efficiency
The Middle East remains strong at a time of oil price uncertainty
Amec Foster Wheeler announces ahead of ADIPEC, 9-12 November in Abu Dhabi, that increasing operational efficiency is vital in order to remain competitive. Chief Executive Samir Brikho will outline the importance of efficiency during ADIPEC when he takes part in a panel session entitled Operations: The New Era of Operations Efficiency.
Despite the current market challenges, Amec Foster Wheeler has continued to expand in the Middle East and has been awarded several key contracts in recent months, the most recent is a Project Management Consultancy contract extension for the UZ750 project in the Upper Zakum field. Amec Foster Wheeler is also actively working on mega projects in Kuwait, Saudi Arabia, Iraq, Qatar and Oman.
Amec Foster Wheeler has established Abu Dhabi as its Middle East hub of expertise in the region and the office, with currently over 700 people, is undergoing a process of expansion following the award of several new engineering contracts in the UAE.
Amec Foster Wheeler's Group President for Asia, Middle East, Africa and Southern Europe, Roberto Penno, will also attend ADIPEC and said the company's success in the region is due to a flexible and diversified approach and a commitment to long-term operational efficiency. He said:
"Amec Foster Wheeler is asset light and has a flexible business model which means that we can adapt easily to meet project demands. One of our other key differentiators is that we also work across non-hydrocarbon end markets and are able to pursue a variety of opportunities.
"While the market is challenging, we are in a strong position and committed to delivering long-term operational efficiency for our customers, regardless of the oil price. We are confident about the outlook of the market in the Middle East."
Amec Foster Wheeler currently has over 2,000 people based in the Middle East, with plans for continued expansion.
Amec Foster Wheeler (www.amecfw.com) designs, delivers and maintains strategic and complex assets for its customers across the global energy and related sectors.
With pro-forma 2014 annualised scope revenues of £5.5 billion and over 40,000 employees in more than 55 countries, the company operates across the whole of the oil and gas industry - from production through to refining, processing and distribution of derivative products - and in the mining, clean energy, power generation, pharma, environment and infrastructure markets.
Amec Foster Wheeler shares are publicly traded on the London Stock Exchange and its American Depositary Shares are traded on the New York Stock Exchange. Both trade under the ticker AMFW.
This announcement contains statements which constitute "forward-looking statements". Forward-looking statements include any statements related to the timing, results and success of contracts, and are generally identified by words such as "believe," "expect," "anticipate," "intend," "estimate," "will," "may," "continue," "should" and other similar expressions. Forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Amec Foster Wheeler, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking statements. Amec Foster Wheeler does not undertake to update any of the forward-looking statements after this date to conform such statements to actual results, to reflect the occurrence of anticipated results or otherwise.
© Press Release 2015