Amec Foster Wheeler has predicted a strong future for the Kuwaiti oil and gas sector, hailing innovation and efficiency as the watch words for progress.
Speaking at the Kuwait Oil and Gas Show, Amec Foster Wheeler’s Chief Executive, Samir Brikho, said the company had received overwhelmingly positive feedback to its portfolio of projects in the country.
“Immediate opportunities for oilfield service providers lie with innovation and innovative approaches if not with entirely new technologies. The industry must be transformed to deliver capital efficiency beyond cost cutting,” he said.
With its relatively low production costs and enormous wealth of raw hydrocarbon resources, the Middle East market remains strong at a time of oil price uncertainty. Brikho said that Kuwait is a high performing country for Amec Foster Wheeler in the region.
The company has delivered services on megaprojects in Kuwait for the past 10 years and is currently executing a number of long-term Project Management Contracts (PMC) for the Kuwait National Petroleum Company and Kuwait Oil Company.
In addition to work in the Oil & Gas sector, Amec Foster Wheeler is also delivering environmental services in the country, including a PMC for the Kuwait Environmental Remediation Project and project management and design review services for the Kuwait International Petroleum Research Centre.
The company currently has approximately 850 people based in Kuwait, with plans for future expansion.