Khalid Mohammed Kanoo, on the sidelines of the Middle East Oil Show 2011, told reporters that Kanoo Group was one of the pioneers in this segment of the business.
“Bahrain was the first country to drill the oil well in 1932 and Kanoo Group entered into this business in 1933 and by exhibiting at the MEOS 2011 we are renewing our pledge to continue to serve the region,” Khalid Kanoo added.
“Apart from providing expertise we are very much keen to lookout for joint ventures in this sector,” he said.
Khalid Kanoo, who was joined by Jacinto Hyacinth DeSouza, said that exhibitions like MEOS would further strengthen Bahrain’s position as business and financial centre in the region.
Jacinto Hyacinth DeSouza, who is General Manager Oil and Gas at YBA Kanoo for Saudi Arabia, Bahrain, UAE, Qatar and Oman, said that YBA Kanoo has so far secured 15 joint ventures. However he didn’t disclose the actual financial impact of these JVs. “Being a family business it is not appropriate to disclose the amount but these are multi-million dollar projects,” he explained.