Amec Foster Wheeler sees a bright future in Kuwait
- Middle East market remains strong at a time of oil price uncertainty
- Chief Executive Samir Brikho gives message for innovation at KOGS
Amec Foster Wheeler announces today that it has received overwhelmingly positive customer feedback to remarks made at the Kuwait Oil and Gas Show (KOGS), further reinforcing support for its already strong pipeline of future work opportunities in Kuwait.
Amec Foster Wheeler’s, Chief Executive, Samir Brikho, speaking in the opening Executive Plenary Session, on Future Hydrocarbon Resources: Innovations, Technology and Opportunities, at KOGS, outlined the opportunities for oil service providers.
Immediate opportunities for oilfield service providers lie with innovation and innovative approaches if not with entirely new technologies” and that “the industry must be transformed to deliver capital efficiency beyond cost cutting.
The Middle East market remains strong at a time of oil price uncertainty and Kuwait is a high performing country for Amec Foster Wheeler in the region¹. 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.
An example of Amec Fosters Wheeler’s work in Kuwait is Project Management support for the Kuwait Oil Company
Amec Foster Wheeler (www.amecfw.com) designs, delivers and maintains strategic and complex assets for its customers across the global energy and related sectors.
With pro-forma 2014 annualised scope revenues of £5.5 billion and over 40,000 people in more than 55 countries, the company operates across the whole of the oil and gas industry – from production through to refining, processing and distribution of derivative products – and in the mining, clean energy, power generation, pharma, environment and infrastructure markets.
Amec Foster Wheeler shares are publicly traded on the London Stock Exchange and its American Depositary Shares are traded on the New York Stock Exchange. Both trade under the ticker AMFW.
This announcement contains statements which constitute “forward-looking statements”. Forward-looking statements include any statements related to the timing and success of contracts, and are generally identified by words such as “believe,” “expect,” “anticipate,” “intend,” “estimate,” “will,” “may,” “continue,” “should” and other similar expressions. Forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Amec Foster Wheeler, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking statements.
Amec Foster Wheeler does not undertake to update any of the forward-looking statements after this date to conform such statements to actual results, to reflect the occurrence of anticipated results or otherwise.