A New Facility as MENAT Oil & Gas Activity Expands
Upstream oil & gas spending globally is expected to exceed $700 billion in 2014, with the Middle East and Africa (MEA) expected to be two of the most active regions. In MEA, the number of active exploration and production rigs has more than tripled since 1999. In the offshore sector alone, capital expenditures between 2012-18 are estimated to be $74 billion in the Middle East and a staggering $120 billion in Africa.
Meanwhile, its worth remembering that oil reserves in the Middle East and Africa exceed 55% of the global total, while production represents more than 43% of the global total. The MEA region has a similarly large share of natural gas reserves. So even as operators in this region increase spending today, there will be opportunities for further growth for years to come.
Looking to expand its regional footprint to more effectively serve these growth markets, GE recently broke ground on a new GE Oil & Gas Manufacturing & Technology Center in Dubai. Scheduled to open in 2015, the facility can accommodate more than 300 employees and will serve the Middle East, North Africa and Turkey markets.
Located in the Jebel Ali Free Zone, the facility will offer tailored training programs, feature a repair center that will service all wireline equipment with faster turnaround times, provide technical support on and offsite for its partners, undertake data interpretation and offer maintenance training. The repair center means GE Oil & Gas will be able to promptly offer customer service to regional partners and create solutions to meet local requirements.
The facility will include an After Market Center (AMC) that will stock valves, valve modules and spare parts, while operations of Measurement & Control will also be based in the new facility.
The Jebel Ali facility is part of GE Oil & Gas’ ongoing expansion in the region. In April, GE broke ground on a new oil & gas manufacturing facility in Dammam Industrial City, which is planned to create more than 100 new job opportunities for skilled Saudi engineers and technicians.
For more on GE Oil & Gas and its many partnerships across the globe, including in the UAE, click here.