Doha: Qatar's Energy City Qatar (ECQ) and National Petroleum Service (NPS) signed a 65 million Qatari riyal contract here yesterday to build a new development in Energy City Qatar's Lusail district.
Under the terms of the contract, NPS, one of the largest petroleum services company in the region, purchased a plot within Energy City Qatar (ECQ) to build their new regional headquarters.
"Energy City Qatar is attracting petroleum service companies to its energy business cluster...This deal with National Petroleum Service demonstrates the potential of Energy City to bring together visionary Qatari and international oil and gas companies who understand the importance of working together within the region's own purpose built energy cluster," said Hesham Al Emadi, chief executive officer of ECQ, addressing a press conference.
In a statement, National Petroleum Services President Abdul Aziz Al Dolaimi said Energy City is set to become the Middle East's home for global players in the oil and gas industry. "National Petroleum Services understands the business benefits of being located alongside other world class energy companies."
ECQ is a pioneering development that aims to become the Gulf's first oil and gas industry hub, filling a void in a region that accounts for over 60 per cent of the world's proven oil reserves and over 40 per cent of the world's natural gas reserves.
Envisioned by Gulf Energy, the multibillion project aims to attract the oil and gas production industry, support services, infrastructure and downstream activities, shipping and trading, market and resource data, intellectual property and energy trading.
ECQ recently signed a 700 million riyal agreement with Qatar Real Estate Investment Company and last week announced pre-sales and sales figures of more than 3.5 billion riyals ($960 million).
