GCC oil and gas service providers have the opportunity to gain much from Kazakhstan’s burgeoning sector and vast untapped natural resources despite a recent law designed to empower the government annul contracts with major IOCs in its bid to improve revenues stemming from exploration and production activities in the country, said a Dubai industry source.

“Kazakhstan could eventually attract up to $140 billion of foreign investment in its oil infrastructure, despite a recent law which may slow down growth and foreign direct investment,” said Elias Nassif, president and CEO, GMMOS Group, a Dubai-headquartered equipment manufacturer, supplier and provider catering to the oil and gas, shipping and construction industries worldwide.

“There is room for growth in virtually every sub sector associated with oil extraction, processing, and transportation with prospects including geological exploration, geophysics, hydrogeology, drilling, research and data management, laboratory studies, oil spill cleanup technologies, and pipeline equipment and services,” he said.

On the back of recent project deals including a contract for pig launchers and receivers for PetroGas FZE / Dragon Oil of Turkmenistan, GMMOS Kazakhstan, the wholly owned subsidiary of GMMOS Group, is participating in this week’s KIOGE, the 15th edition of Kazakhstan’s annual international oil & gas exhibition, to be held in Almaty from October 2 to 5.

Central Asia’s most prestigious oil & gas forum has attracted nearly 500 CIS and international specialist companies and expects a footfall of more than 12,000 industry professionals.

“Sitting on 3.3 per cent of the world’s proven oil reserves worth an estimated 39.8 billion barrels, Kazakhstan is also home to the biggest oil find in three decades making the Central Asian republic a key growth market for the global energy sector,” said Nassif.

 “GMMOS Kazakhstan, the country’s only oil equipment provider bearing the quality certification stamps U, U2, & S of the American Society of Mechanical Engineers (ASME), and National Board of Boiler and Pressure Vessels Engineers R Stamp, is well positioned to tap into this exponential market growth and reaffirm the Group’s reputation as an efficient provider of quality equipment to the industry’s leading EPCs and process houses,” said Nassif.

GMMOS Kazakhstan LLP was registered in Kazakhstan in May 2004 launching operations a year later in a partnership between Gulf Marine Maintenance & Offshore Service Company – Dubai (GMMOS), and Gateway Ventures (CA) Ltd. GMMOS Kazakhstan operates out of the Caspian port city of Aktau, the country’s only sea access point earmarked for commercial traffic.

The company specializes in the fabrication of pressure vessels, process skids and process piping.

Dubai-headquartered GMMOS Group is a portfolio company of Abraaj Capital, the Middle East’s premier private equity firm.

With over a quarter of a century experience under its belt, GMMOS GROUP comprises highly skilled, specialist divisions in the fields of oil & gas, ship building and repair, chartering and construction. TradeArabia News Service