While world market prices of oil are currently sitting at about a third of those enjoyed at the commodity’s peak less than 12 months ago, plenty of producers can still make profits at current levels.
This fact is strongly emphasized by huge investments being made in oil and gas exploration and development throughout the Arabian Gulf region. This is particularly so in the Eastern Province of the Kingdom of Saudi Arabia and in the sector centered on the Kingdom of Bahrain.
In Bahrain itself, for example, the American giant, Occidental Oil, has agreed to facilitate the tripling of the Kingdom’s onshore production this year.
“All of this,” said Work Boat Gulf’s Kishore Navani,“ will lead to significant additional demand for all kinds of work boats and OSVs in the region of Bahrain. Mr. Navani explained that this fact was having a powerful influence on the exhibition and visitor responses to Work Boat Gulf Exhibition, the first such focused event to be held in Bahrain.
“With the industry solidly behind us, we are expecting a very high-quality show that will be useful and very interesting for all participants,” Mr. Navani said.
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