Manama: ASRY on Wednesday has signed a joint venture agreement with WOODSERV to develop the oil and gas industry in Bahrain.
In the presence of Shaikh Mohammed bin Khalifa Al Khalifa, Minister of Oil and Chairman of the Board of Directors of the Arab Shipbuilding and Repair Yard (ASRY), ASRY signed a joint venture agreement with Woodlands Holdings W.L.L. (WOODSERV), with the aim of providing services related to the oil and gas industry in the Kingdom of Bahrain, by providing turn-key production solutions that aim to maximize recovery from marginal assets, as well as accelerate production from unconventional resources.
“The agreement is a step forward to the provision of world-class solutions and services that enhance the competitiveness of the process of oil and gas extraction in the Kingdom
The agreement was signed by Mazen Matar, Managing Director of ASRY, and Sam Kawa, CEO of WOODSERV, in the presence of a number of officials from the National Oil and Gas Authority (NOGA), ASRY and WOODSERV.
The Minister of Oil welcomed the signing of this agreement, which will contribute in providing world-class solutions and services to the Kingdom of Bahrain to enhance the competitiveness of the oil and gas extraction process. Attracting investments contributing to Bahrain’s economic growth and vision for 2030.
The Minister stressed that NOGA and its subsidiaries are working under the directives of His Majesty King Hamad bin Isa Al Khalifa, King of the country, who pays great attention to the development of the oil and gas sector, through the expansion of the use of the latest modern systems in exploration and production and benefit from international expertise in this field.
The Minister of Oil praised the close cooperation between the Kingdom of Bahrain and the United States of America in the oil and gas sector, which is witnessing continuous development through the role played by the American oil companies in supporting the Kingdom’s efforts in all specialized areas in the vital oil sector and in light of the long experience of these companies and their advanced modern technological systems.
The Minister stressed that the joint venture between ASRY and WOODSERV will achieve further gains for the oil and gas sector in the Kingdom of Bahrain, which WOODSERV brings leading tried and tested U.S.A. technology, engineering and know-how to the Kingdom of Bahrain. The new joint venture combines ASRY’S local capabilities and facilities with WOODSERV’s leading expertise in bringing US technology and optimization solutions to the Kingdom of Bahrain creating a local center of excellence.
The Minister pointed out that both ASRY and WOODSERV have worked hard to establish this joint venture to enhance investment in providing training and employment opportunities for Bahraini citizens. As well as to create harmony between the local capacities and facilities of ASRY with WOODSERV’s experience in bringing American technology and creative solutions, resulting in the establishment of a distinguished service center in the Kingdom of Bahrain that is capable of providing innovative solutions and extending the oil services of the region.
Sam Kawa, CEO of WOODSERV, praised the outstanding capabilities and expertise of ASRY, highly appreciated the company’s important role in providing high quality services in the specialized fields of ship construction and repair, wishing the company all the best and success in achieving the company’s aspirations for the growth and prosperity of the company.
Sam Kawa noted that WOODSERV aims to be the leading provider of innovative energy solutions in collaboration with ASRY, which has engineers with extensive experience in design, construction, operation and maintenance.
Stressing that in the past the company had invested in Bahraini talent through the recruitment of a number of engineers graduating from the University of Bahrain. As well as, providing training opportunities in the United States of America to gain direct experience in manufacturing, engineering and services, which in turn contributed in achieving high productivity.
Sam pointed out that the company has chosen the Kingdom of Bahrain as its international headquarters, because the Government of the Kingdom of Bahrain provides continuous support to various international companies. As the Kingdom of Bahrain is considered a fertile ground for establishing many projects in a variety fields, wishing the Kingdom all success and prosperity under its leadership.
