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Oil and Gas sector in Jafza posts 13% growth in 2014

posted on 09/11/2015: 1453 views



Jebel Ali Free Zone (Jafza), the flagship Free Zone entity of Dubai and a globally renowned trade and logistics hub of the wider Middle East region that spans from West Asia to Africa, the CIS and Indian Subcontinent, will be participating in ADIPEC (Abu Dhabi International Petroleum Exhibition and Conference), the largest oil and gas event in the MEASA (Middle East Africa and South Asia) region, to be held from November 09-12, 2015 at Abu Dhabi National Exhibition Centre.

The Free Zone will be highlighting its key strengths as the region's most efficient commerce and redistribution centre to attract more multinational oil and gas companies into the Free Zone at the event.

Sultan Ahmed bin Sulayem, Chairman of DP World and Ports, Customs and Free Zone Corporation, commenting on Jafza participation in ADIPEC said: "Despite lower oil prices the Chemicals, Oil and Gas sector in the UAE and the region remains buoyant. The oil producing countries in the region have ambitious investment plans to raise production via enhanced oil recovery projects and increased capturing of associated gas. This offers good opportunities for oil and gas companies engaged in the sector not only in the UAE but all other hydrocarbon rich countries in West Asia and Africa. Jafza, which has emerged as a hub for oil and gas industry in the region, is the right location for them to be in.' "The Free Zone's innovation-driven customer focused outlook and approach is fully in line with the vision and directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai to make the Emirate most favoured investment destination and the world's top business hub."

Ibrahim Mohamed Al Janahi, Deputy CEO of Jafza and Chief Commercial Officer, said: "As a facilitator Jafza offers excellent services, seamless working environment and world-class multi-modal connectivity by virtue of being next to the DP World's Jebel Ali Port, the largest container terminal in the region, and Al Maktoum International Airport, designed to be the largest airport in the world. These enablers have successfully promoted Dubai as a hub for international trade and will play a key role in the success of Expo 2020 in Dubai, as well as, positioning Jafza as a favoured location for multi nationals to set up their regional operations to serve the thriving Middle East markets."

Jafza is currently home to 736 leading multinationals in oil and gas sector that have setup their regional base in the Free Zone to serve all key oil and gas markets in the region. The sector in Jafza has generated trade worth over Dh 52 billion (US$ 14.3 billion) in 2014, up 13% over its trade in the preceding year.

With 2,000 exhibitors and 23 International Pavilions ADIPEC ranks among the world's top oil and gas events. – Emirates News Agency, WAM - http://www.wam.ae/en/news/economics/1395287719687.html

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