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Synergy Petroleum International launches I-Tubing plant in Sumail Industrial Estate

Oman: Wednesday, December 19 - 2012 @ 11:46

While delivering the opening remarks, Simon Karam, General Manager of Synergy Petroleum International LLC, said, “His Excellency Nasser Al Jashmi came up with the idea of settling products and services in the oil and gas sector to ultimately contributing to the national economy through innovation and investment. These efforts shall add value to the national economy, create job opportunities for the national workforce and open wider horizons for Small and Medium Enterprises (SMEs).”

Karam added, “Previously, the heat-insulated tubes were being imported from abroad and the value was being paid in hard currency. However, nowadays, the majority of the value remains in Oman, besides Omanis are getting trained and hired for jobs, goods get transported by local companies, taxes get paid to the government, and profits get distributed to Omani partners and foreign investors. Adding to these aspects, another vital advantage is the fact that we can now rely on ourselves to produce what the oil and gas industry requires to enhance our economic security.”

Karam noted the motives that led to the launch of the factory in Sumail Industrial Estate specifically, which comprise the commitment of the son of Sumail, Sheikh Saud bin Ali Al Khalili, Founder and Chairman of Al Taher Group to which Senergy Petroleum International belongs to, who devotedly aspires to develop the industry in the area. “Other motives include the facilities and continuous encouragement provided by Sumail Industrial Estate; the approval of our partner Majus International Co. to transfer expertise, train staff, supply equipment and take advantage of innovations and scientific research conducted in France and England, which will be transferred soon to the Sultanate,” he pointed out.

He explained that this project shall be highly integrated to the society through giving employment priority to families of social security.

According to sources, the I-Tubing is highly insulated tubing, featuring major innovations for the insulation materials and design. This revolutionary pipe-in-pipe can be used to transport oil from the reservoir to the surface while keeping the crude hot and avoiding wax deposition, and to transport High quality steam downhole.

Karam informed that this plant is only the beginning for more other plants in the oil and gas sector to be launched, as he noted that Synergy Petroleum International had recently announced that it is in the process of establishing a starch and derivatives manufacturing facility in Sumail Industrial Estate. He also affirmed that Al Taher Group will always undertake efforts in line with the government’s policies based on a genuine partnership between the public and private sector.

It should be noted that Synergy Petroleum International LLC is an Oman-based Al Taher Group company, which encompasses diversified business units including construction, real estate, oil & gas, power, mining & quarrying and various other investments in innovative and Mega Projects and companies within region.

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Wednesday, December 19- 2012 @ 11:46 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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