Halul Offshore Services Co, a wholly-owned subsidiary of Milaha, recently participated and won an award for its stand at the Seatrade Offshore Marine and Workboats Middle East which took place in Abu Dhabi, UAE.

The event took place from October 5 to 7, at the Abu Dhabi National Exhibition Centre.
 
The company received the ‘Most Innovative Stand’ award at the exhibition, said a statement from the company.

Seatrade Offshore Marine and Workboats Middle East is one of the region’s leading event for offshore marine-related industries, workboat operators, builders and equipment suppliers.

Halul’s CEO, Vivek Seth, also spoke at the Marine and Offshore Leaders’ Forum about the state of the marine and offshore industries in the Middle East, it said.

The Marine and Offshore Leaders Forum discussed the challenges facing the offshore services industry and its future, in light of the prevailing market conditions. The key topics included analyses and forecasts of the oil price; supply and demand drivers for offshore services; and a focus on regional developments – from the Red Sea to the Caspian Sea, and from Africa to South Asia, it added.

Abdulrahman Essa Al-Mannai, president and chief executive officer of Milaha, said: “In the light of the decline in oil prices, it is vital that industry leaders brainstorm about how to meet the current challenges and devise strategies to enhance competitiveness.”

“Both the event and forum were an important platform to gather decision makers and stakeholders to take an in-depth look at the options and to discuss issues of supply and demand affecting mid- to long-term profitability of the sector,” he said.

Seth said: “The price decline in the oil and gas sector is a challenging issue for the marine and offshore services industry. This has led us and our peers to re-evaluate our strategies as we explore new business opportunities.”

“We believe now is the right time, as an industry, to improve on our standards of service, initiate technological innovation, and enhance quality, safety and security to ensure long-term sustainability,” he said.

“As we adapt to the changing market, such moves will enable us to ride out the prevailing volatility while we plan for long-term growth. The event was a great opportunity to debate relevant issues and discuss strategies to overcome difficult times with our peers and partners,” he added. – TradeArabia News Service