Oil and gas sector in Jafza posts 13% growth

Dubai - Jafza is hoping to attract more multinational oil and gas companies by participating in Adipec.

The oil and gas sector in Jebel Ali Free Zone (Jafza) generated trade worth over Dh52 billion in 2014, up 13 per cent over the preceding year.
Jafza is hoping to attract more multinational oil and gas companies by participating in the Abu Dhabi International Petroleum Exhibition and Conference (Adipec), the largest oil and gas event in the Measa (Middle East, Africa and South Asia) region.
The event starts on Monday and concludes on Thursday and will run at the Abu Dhabi National Exhibition Centre.
Sultan Ahmed bin Sulayem, chairman of DP World and Ports, Customs and Free Zone Corporation, said: "Despite low oil prices, the chemicals, oil and gas sector in the UAE and the region remains buoyant. 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 is the right location for them to be in.
"The freezone's innovation-driven outlook is in line with the vision and directives of His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, to make the emirate the most favoured investment destination."
- business@khaleejtimes.com