With more than 45 years of experience working in Qatar's energy sector, how would you assess the connection between the company's growth and the country's establishment as one of the main players in the global energy sector?
The subsidiaries of Al Ahed Holding comprise Doha Petroleum, Al Ahed Trading, and PEMCO. Subsidiary companies have been within the Qatar market for close to five decades, and this long existence facilitated the establishment of a strong brand image within the market. The services provided include EPIC, shutdowns, manpower, non-destructive testing, trading operations, and other value-added services to the oil and gas sector. We represent several internationally reputed MNC brands such as John Crane, Emerson, Syndyne, and so on. Al Ahed Holding embarked on an ambitious transformational initiative in 2021 wherein the focus was primarily on three aspects: a strategy through a five year plan with strategic initiatives for upscaling business activities, the implementation of a SAP system for subsidiary operations, and the revalorization of our staff with a strong focus on talents with competence-based evaluation and training programs. This will allow us to deliver on our vision to be the preferred partner of choice to our customers and employees, striving to deliver world-class products and solutions while maximizing stakeholders value. We always aspire to be in forefront of adapting ourselves ahead of times and exceed expectations of our customers. In this regard, corporate governance and risk management will be the silver lining of our progress going forward.
Qatar is working to increase the local content of its energy industry. How would you assess the efforts done so far by the local industry, and how are family-owned businesses such as Al Ahed Holding positioned to service following international standards?
Even before ICV was introduced, we always believed it is our moral responsibility to contribute to the success and growth story of Qatar. One such initiative has been collaborating with John Crane (MNC) to establish a service center and manufacture gas seals within Qatar. We are on the cusp of having our first products released within the market. Several such initiatives are in the pipeline with major international players to increase the in-country value. Another strategy is to review the existing value chain and aggressively push for import substitution through vertical integration.
Al Ahed Holding has been able to deliver projects despite challenging circumstances such as COVID-19. What is Al Ahed's approach to delivering projects in order to exceed expectations?
COVID-19 was an unprecedented event, resulting in a great deal of pressure on various aspects such as material delivery, manpower, and project delivery. Thanks to the effective risk management process in place, we were able to overcome the tough situation on hand. Al Ahed Holding has developed various contingency plans to mitigate any risks that we foresee within immediate future. Our aim is always to provide service agreed upon for various oil and gas customers within a stipulated time period as they are critical for overall operations.
The North Field Expansion project is set to be the next major driver of Qatar's growth. How is Al Ahed Holding engaging in such an important project for the global energy sector, and what are your plans for the future in this regard?
Forward thinking by the Qatari government has resulted in the North Field Expansion, which is critical to uplifting production capacity. Upon several discussions and deliberations with various international companies that were awarded to contract, they are of the unanimous view that they require strong support from competent local player. Al Ahed Holding with its excellent track record, local facilities, skilled manpower, and a representative of several international companies perfectly fits the requirement. Action taken includes the formation of a key management team that will address the various demands and collaborate to meet customers' demands. Transformation, which kicked off in 2021, will start showing the results of improved performance in 2022, wherein we will have competitive-edge solutions for our customers.