Local touch pays off
AlMansoori is targeting 25% growth this year
The UAE’s homegrown oilfield service provider, AlMansoori, is determined to keep its phenomenal growth momentum up throughout 2009 and beyond
Leading oilfield services provider AlMansoori Specialized Engineering (MSE) has stuck to its ambitious growth strategy in 2009, and is looking to consolidate its position as an ambitious player in the Middle East throughout 2010.
The company, which has its principal yard in the Mussafah Industrial Zone, was established in 1977. “The company grew very rapidly and although that growth was in many different parts of the oil and gas industry, the core of our business has always been services,” says CEO, Nabil Alalawi.
“As we evolved we added more and more services and at the present time offer nine different services to the industry. As well as the services we also got involved with trading and representing foreign companies, who by law have to have a local sponsor. So we added a commercial arm to our business. Then as we grew we started producing some specialised products for the oil and gas industry,” he adds.
Last year the company reorganised its many branches and split the company into two independent standalone companies. One is called AlMansoori Petroleum Services and the other one is called AlMansoori Petroleum Industries. “There is a manager for each company who reports directly to me, so these elements of the business were essentially streamlined. It was too unwieldy as one operation,” says Alalawi.
His vision of the next few years will see a renewed push into the supporting heavy industries which typically sit side-by-side in other global oil hubs. “If you look at Aberdeen, for example, most of the products are being produced there for the North Sea. If you look at the Far East most of the products are being produced in Singapore. However, if you look at the Middle East you hardly have any industries to provide support. So, we believe it is a fantastic growth area for us,”
Despite the reduced service and maintenance budgets of the major NOCs in the region, Alalawi remains focused on strong growth this year. “In 2009 we are on target to achieve 25% growth. This is exceptional when you think some of our competitors have said that they are going to be 6% under forecast. We are very bullish and have set ourselves some formidable growth targets. Every four years we double in size - and we are still doing it,” he beams.
The company is involved in several joint ventures, including the Global Chemical Company which opened its chemical manufacturing facility in Abu Dhabi this year, CORT SAS (Sulphonated Asphalt – a drilling mud additive), a revolutionary product being brought to the Gulf market.
“New technologies are important to AlMansoori in order to continuously improve our services and at the same time offer our clients the latest in the industry so that we can be competitive and innovative in the market place,” he concludes.