GO­ING BE­YOND CON­VEN­TIONS

Oil and Gas - - EDITOR’S NOTE -

Duqm, lo­cated in Oman’s Al Wusta coast, has long been poised to be a cru­cial player in Oman’s eco­nomic di­ver­si­fi­ca­tion strat­egy. The re­gion is be­ing kit­ted out to at­tract for­eign in­vestors and emerge as Oman’s ma­jor lo­gis­tics and in­dus­trial hub. The Port of Duqm, which started its soft op­er­a­tions in 2012 has grown ex­po­nen­tially dur­ing the last cou­ple of years and is one of the key driv­ers of this di­ver­si­fi­ca­tion strat­egy. The first phase of the port is said to be com­pleted by 2020 and will in­clude a mul­ti­pur­pose ter­mi­nal, dry bulk ter­mi­nal and early op­er­a­tions con­tainer ter­mi­nal, all of which are in­dis­pens­able to port op­er­a­tions. This will be fol­lowed by con­struc­tion of phase two, which would be com­pleted be­tween 2025 and 2030. In this is­sue, OGR man­aged to bag a quick in­ter­view with the CEO of Port of Duqm, Reggy Ver­meulen, and ask him a few quick ques­tions about the sta­tus of op­er­a­tions. Read the en­tire cover story on Pg. 12

The oil price col­lapse in June 2014 trig­gered a wave of cost re­duc­tions across the in­dus­try. Global oil and gas (O&G) com­pa­nies slashed CapEx spend­ing by 40% be­tween 2014 and 2016. Be­cause of the down­turn, projects worth a to­tal of $620 bil­lion are es­ti­mated to have been de­ferred or can­celled through 2020. The past three years have driven O&G com­pa­nies to adopt new op­er­at­ing mod­els to com­bat low oil prices, which have been cen­tered on re­duced work­forces and less cap­i­tal ex­pen­di­ture. In light of this, Katie Cook, Sr. Vice Pres­i­dent - In­dus­trial, En­ergy & Nat­u­ral Re­sources BU – Cyient, ex­plains how emerg­ing tech­nolo­gies like VR & AR are rev­o­lu­tion­is­ing the oil and gas in­dus­try (Pg. 22)

Apart from emerg­ing tech­nol­ogy, this is­sue also looks at cur­rent mar­ket trends and pre­dic­tions for 2018 (Pg. 20); the in­dus­try sce­nario in the Mid­dle East (pg. 29); as well the lat­est en­ergy up­dates (Pg. 32).

En­joy read­ing the is­sue!

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