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Synergy Petroleum opens first I-Tubing Factory

Sumail, December 19, 2012

Synergy Petroleum International recently inaugurated its first integrated plant in Sumail Industrial Estate -Insulated Tubing (I-Tubing Factory).

Held under the patronage of Nasser bin Khamis Al Jashmi, undersecretary of the Ministry of Oil and Gas, the event was attended by a number of excellencies, sheikhs, dignitaries and businessmen, a statement from the company said.

Simon Karam, general manager of Synergy Petroleum International, said: "Al Jashmi came up with the idea of settling products and services in the oil and gas sector to ultimately contributing to the national economy through innovation and investment.”

“These efforts shall add value to the national economy, create job opportunities for the national workforce and open wider horizons for Small and Medium Enterprises (SMEs)."

“Previously, the heat-insulated tubes were being imported from abroad and the value was being paid in hard currency. However, nowadays, the majority of the value remains in Oman, besides Omanis are getting trained and hired for jobs, goods get transported by local companies, taxes get paid to the government, and profits get distributed to Omani partners and foreign investors.”

“Adding to these aspects, another vital advantage is the fact that we can now rely on ourselves to produce what the oil and gas industry requires to enhance our economic security."

This project will be highly integrated to the society through giving employment priority to families of social security, he said.

I-Tubing is highly insulated tubing, featuring major innovations for the insulation materials and design, according to sources. This revolutionary pipe-in-pipe can be used to transport oil from the reservoir to the surface while keeping the crude hot and avoiding wax deposition, and to transport high-quality steam downhole.

“This plant is only the beginning for more plants in the oil and gas sector to be launched.  Synergy Petroleum International had recently announced that it is in the process of establishing a starch and derivatives manufacturing facility in Sumail Industrial Estate.  Al Taher Group will always undertake efforts in line with the government's policies based on a genuine partnership between the public and private sector,” he added.

Synergy Petroleum International is an Oman-based Al Taher Group company, which encompasses diversified business units including construction, real estate, oil & gas, power, mining & quarrying and various other investments in innovative and mega projects and companies within region. – TradeArabia News Service




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