HFZA showcases unique investment opportunities in the oil and gas sector
The Hamriyah Free Zone Authority (HFZA) in Sharjah has wrapped up four days of fruitful participation in the Offshore Technology Conference (OTC 2023), held in Houston, Texas, USA. The delegation, led by HFZA Director Saud Salim Al Mazrouei, has showcased the free zone’s unique investment opportunities in the oil and gas sector while fostering collaboration with major international institutions and companies.
Throughout the four-day event, HFZA delegation highlighted the Free Zone’s investment value, vision, and strategy for sustainable growth, as well as the enabling incentives and privileges it offers to businesses in the oil and gas sector.
The Free Zone features an ideal investment environment and state-of-the-art infrastructure, tailored to meet the needs and requirements of companies operating in the industry, and is supported by a comprehensive logistics services system.
The HFZA’s strategic location near Hamriyah Port further enhances its appeal to potential investors. The port provides vital import and export services for the oil, gas, and petrochemical industries, establishing HFZA as a distinguished industrial base for prominent international companies.
Speaking on the occasion, H.E. Saud Salim Al Mazrouei said: “Our participation in this prestigious global event is a testament to HFZA’s commitment to staying ahead of the curve in the oil and gas sector, ensuring that we can provide our investors with the most up-to-date insights and opportunities. As a leading hub for major companies in the Middle East, the Hamriyah Free Zone is home to over 1,200 key players in the industry and stands as the second largest petrochemical center in the UAE. Our strategic location enables us to offer comprehensive solutions for exploration, production, and refining projects, creating promising new opportunities for those in the sector. With all the necessary elements for success and a state-of-the-art infrastructure, our investors are well-positioned to thrive in the global marketplace.”
Al Mazrouei added: “Our participation in the OTC 2023 proved to be a resounding success, as our platform attracted representatives from top-tier international companies via face-to-face meetings. These attendees were introduced to the valuable investment opportunities we provide, specifically tailored to help both existing and potential investors achieve their growth and development objectives while ensuring optimal returns. This esteemed global forum allowed us the chance to exchange expertise and information with leading organizations in the oil and gas sector, as well as identify the needs of the business community within this vital industry to innovate and create new services that cater to their specific demands.
The OTC 2023, established in 1969, stands as the premier event of its kind in the world bringing together energy professionals to exchange ideas and insights, advancing scientific and technical knowledge for offshore resources and environmental matters.
The 2023 edition saw the participation of over 24,000 energy professionals from more than 100 countries. Additionally, over 300 peer-selected technical presentations were made, covering various aspects of the offshore drilling and exploration technology sector, including production and environmental issues.
Featuring participants such as engineers, technicians, executives, operators, scientists, and managers from nearly 100 countries and spanning all areas of the offshore energy sector, the event also displayed the latest developments in oil and gas fields and associated sub-industries. Equipment manufacturers and service providers also presented innovations across categories, including drilling, exploration, manufacturing, instrumentation, oilfield chemicals, pollution control, operations, production, renewables, and more.