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Committed to Surpass Stakeholders’ Expectations
I wish you all a very happy and prosperous 2009. We are committed towards moving ahead in the new year and beyond, and endeavour to outpace industry standards and surpass all expectations in the process. All this can be achieved only through your continued support and belief in us. I believe that we will further strengthen ourselves as a globally competitive group and keep the momentum going to become the best in the business!
Recognizing the great potential for business in Australia and as a further momentum to our growing overseas operations, we have made a solid beginning in Australia. MB Holding acquired an Australian company, Century Drilling Company Ltd. in 2007, and the final completion of the transaction took place in January 2008. Century Drilling is a market leader in providing oil, gas and geothermal drilling services in the Asia Pacific region. Following the completion, the company’s name has been changed to MB Century Drilling Limited, adding a new venture for MB Petroleum in Australia and New Zealand.
In recognition of our proven track record and delivering value to our business associates, we have been entrusted with a number of new projects. In February 2008, together with Oman Oil Company (OOC), Petrogas E&P LLC was awarded a 15-year service contract aimed at cost-effectively raising the production levels of a cluster of small Rima fields and covering all aspects of the cluster’s development. The Rima Small-Fields contains more than 500 million barrels of oil in the ground and are currently producing about 2,000 barrels of oil per day. The signing of the contract took place on 15 June.
May 11th, 2008, marked the first anniversary of Mawarid Mining production of its first saleable copper concentrate and also the rebirth of copper mining in the Sultanate after nearly 12 years of inactivity. With team strength of more than
400, Mawarid Mining currently processes about 2000 tonnes of ore per day. The company has added another 150 employees in as it is undertaking a capacity expansion programme to ramp it up to 3000 tonnes per day, which is expected to be over soon.
As a responsible corporate Citizen, we remain committed to sustaining and adding value to the society, the environment and the economy. During the first half of 2008, we successfully participated in a number of exhibitions, conferences and workshops including Oil and Gas West Asia Exhibition, Oman, Gulf Eco Exhibition,
BG Energy Challenge, Jobex, etc. The support and participation from our group companies, MB Petroleum, Petrogas E&P, United Engineering Services and
Mawarid Mining, contributed in making these events successful. These events have further strengthened our reputation as one of the leading Middle Eastern companies in providing integrated oil and gas well engineering services and exploring and producing oil, gas
and mineral resources responsibly and cost effectively.
I look forward for an exciting 2009 with the entire MB team working together in dedication and integrity, and I am confident of our success in achieving our strategic objectives and surpassing the expectations of our stakeholders.
Mohamed Al-Barwani
Chairman
MB Holding Company LLC
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Mr. Barwani,
founder, owner and the Chairman of the MB Group of
companies, employing around 5600 people with offices
and operations in the Middle East and Europe. He is a
Petroleum Engineer by profession having over 27 years of
experience in the field of E&P and oilfield services. In
addition to his responsibilities with the Group, he is
also on the board of directors of several organizations
like Oman Air and the International Association of
Drilling Contractors. |
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