LONDON, UK: Gulfsands Petroleum plc, the UK Public Limited Company with pursuits within the Middle East and North Africa (MENA) region, opened of its new Middle Eastern Business Hub within the United Arab Emirates, based within the worldwide monetary centre, Abu Dhabi Global Market (ADGM).
As a half of its expanded profile, Gulfsands is additionally establishing a MENA-dedicated subsidiary, Gulfsands Middle East Limited (“GMEL”). GMEL’s focus will be on increasing Gulfsands’ presence within the area as a half of its goal to become a main MENA-centric energy company.
Gulfsands’ Abu Dhabi workplace will be led by Mr. Mark Cutis. Mr. Cutis has extensive regional commercial expertise having been an active member of the Abu Dhabi enterprise community for 14 years, previously as Chief Investment Officer for Global Special Situations on the Abu Dhabi Investment Council (“ADIC”). He was additionally Group CFO and Chief Adviser at Abu Dhabi National Oil Company (“ADNOC”), as well as, extra recently, Chief Executive at ADGM.
One of Gulfsands’ objectives of establishing itself in Abu Dhabi is the aspiration to contribute meaningfully to the regional political dialogue surrounding Syria. Gulfsands hopes that its bodily presence within the area will assist it to construction and goal its Syrian initiatives appropriately, taking into account the views of native stakeholders and, in doing so, galvanise regional support for such initiatives.
Gulfsands stays dedicated to supporting work by the worldwide community to ship a long-term solution to the situation in Syria, the place its world class asset, Block 26, stays in force majeure. Gulfsands is keen to work with all stakeholders, together with these regional neighbours closely affected by the ongoing conflict, to attempt to discover a way whereby Syria’s energy resources can be utilized as a catalyst to bring relief to all Syrian people, after greater than eleven years of devastating conflict.
Having recently eradicated all legacy liabilities arising from prior oil and gas ventures, most notably in Colombia, Gulfsands is additionally looking to capitalise on its native presence in Abu Dhabi to step up enterprise development activities within the MENA region.
Mr. John Bell, Gulfsands Managing Director, and additionally Director of GMEL, commented “We are very excited to be lastly establishing a presence within the Gulf which has been a lengthy sought-after goal of the Group. We are delighted to welcome Mark on board as we press forward with enterprise development throughout the region, in addition to our initiatives that will hopefully allow us to restart our operations in Syria, for the profit of all Syrians.
With respect to Syria, we stay dedicated to compliance with all related sanctions and proceed to support and uphold worldwide protocols such as UNSCR 2254. We additionally believe that a regionally led initiative to harness the energy of Syria’s pure useful resource endowment for the good of all of the Syrian people is a viable way forward for Syria. Our newly established presence in Abu Dhabi demonstrates our dedication to making sure engagement with regional stakeholders to assist navigate this complex multi-tiered political and humanitarian landscape.”