GOFSCO hails successful Platinum sponsorship of 3rd Kuwait Oil and Gas Show and Conference
CEO participates in panel discussion
KUWAIT: Gas and Oil Fields Services Company (GOFSCO), one of the largest integrated service providers in Kuwait specializing in the upstream oil and gas sector, both onshore and offshore, hailed the successful Platinum sponsorship of the 3rd Kuwait Oil and Gas Show and Conference (KOGS 2017) which was held from 15 - 18 October 2017 at the Kuwait International Fairground, under the Patronage of His Highness Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah - Prime Minister of the State of Kuwait.
The four-day conference focused on science and engineering factors facing the oil and gas industry in Kuwait and shed light on key topics that include petroleum geosciences, exploration and production, and refining and petrochemical products and services.
This year’s conference witnessed Engineer Hussam Ali Marafie - Chairman and Chief Executive Officer at GOFSCO taking part in a panel discussion which was under the theme of ‘Diversification - Value Chain Optimization,’ alongside several other industry experts. During his discussion, Engineer Marafie outlined historical milestones and key success factors that led to Kuwait’s progress and economic prosperity over the last few decades. He further elaborated on the importance of dissecting progress indicators in today’s economic climate and taking steps towards fueling the future particularly for the private sector in Kuwait.
Competitive advantage Engineer Marafie said: “Gaining competitive advantage within the private sector can be accelerated through three key factors. Modernization is crucial in today’s marketplace and companies must innovate and diversify to remain their client’s preferred supplier especially when communication lines are short and worldwide competition is fierce. Companies must also exercise flexibility in responding to their client needs and continually uphold excellent client orientation skills and be flexible in meeting their demands. Lastly, a transparent and rapid decision making process that is supported by solid justifications and information should be effectively implemented.” “Although the current market scenario is concerning to most of us, it is also important that we look at the many opportunities and advantages that we experience in the oil sector in Kuwait. Firstly, although there has been decline in oil revenues in the past few years, Kuwait has still largely retained its investment program in the oil sector and continues to invest in the crude oil and gas production program. Secondly, the diversification of the industry allows untapped opportunities in new markets. The government has also exercised considerable fairness to companies in the private sector and has provided appropriate opportunities to both international as well as local service companies” commented Engineer Marafie.
Exhibition
It is worth mentioning that KOGS 2017 incorporated an international exhibition of oil and gas hardware and services and a broad spectrum technical conference program, wherein GOFSCO showcased its services and products to both a local and international audience. The company’s booth housed an array of activities as well as a comprehensive display of the products and services it provides in addition to involving some of its key local and international partners’ services.
Marafie also said: “We are very pleased with our participation and contribution to KOGS 2017. This year’s conference and exhibition was an ideal opportunity for companies that operate in our industry to address and discuss increasing production, technological advancement, innovation and the rising development of the human resources element within this field. On behalf of GOFSCO, I would like to extend my sincere gratitude to His Highness Sheikh Jaber AlMubarak Al-Hamad Al-Sabah - Prime Minister of the State of Kuwait, who most certainly played an exceptional role in ensuring the success of private companies in Kuwait.”