Dubai, October 12, 2015 – Halul Offshore Services Co., a wholly-owned subsidiary of Milaha, participated in Seatrade Offshore Marine and Workboats Middle East which took place from October 5 to 7, 2015 at the Abu Dhabi National Exhibition Centre in the UAE. Halul took part as an exhibitor at the event and its CEO, Vivek Seth, spoke at the Marine and Offshore Leaders’ Forum about the state of the marine and offshore industries in the Middle East. The company also received an award for the ‘Most Innovative Stand’ at the exhibition.
The Marine and Offshore Leaders Forum discussed the challenges facing the offshore services industry and its future, in light of the prevailing market conditions. The key topics included analyses and forecasts of the oil price; supply and demand drivers for offshore services; and a focus on regional developments – from the Red Sea to the Caspian Sea, and from Africa to South Asia.
Mr. Abdulrahman Essa Al-Mannai, President and Chief Executive Officer of Milaha, said: “In the light of the decline in oil prices, it is vital that industry leaders brainstorm about how to meet the current challenges and devise strategies to enhance competitiveness. Seatrade Offshore Marine and Workboats Middle East and The Marine and Offshore Leaders Forum were an important platform to gather decision makers and stakeholders to take an in-depth look at the options and to discuss issues of supply and demand affecting mid- to long-term profitability of the sector.”
Seth said: “The price decline in the oil and gas sector is a challenging issue for the marine and offshore services industry. This has led us and our peers to re-evaluate our strategies as we explore new business opportunities. We believe now is the right time, as an industry, to improve on our standards of service, initiate technological innovation, and enhance quality, safety and security to ensure long-term sustainability. As we adapt to the changing market, such moves will enable us to ride out the prevailing volatility while we plan for long-term growth. The Marine and Offshore Leaders Forum at Seatrade Offshore Marine and Workboats Middle East is a great opportunity to debate relevant issues and discuss strategies to overcome difficult times with our peers and partners.”
Seatrade Offshore Marine and Workboats Middle East is one of the region’s leading event for offshore marine-related industries, workboat operators, builders and equipment suppliers. The biennial conference and exhibition gathers industry leaders and decision-makers to brainstorm on strategic topics. The session saw the participation of a senior delegation from Milaha, led by HE Sheikh Ali bin Jassim Al Thani, Milaha’s Chairman and Mr. Abdulrahman Essa Al-Mannai, President and Chief Executive Officer, Milaha along with Halul Offshore’s senior management team based in Qatar and the UAE.