The chief executive of Sea Horizon Offshore Marine Services [SHM], Danial Kaabi, stated that the marine sector in Qatar has tremendous potential in the area.
In an interview with The Peninsula, he stated: “With the growing demand for vessels in the area as a whole, particularly in Qatar. Because we continually use the most local content available, we have been able to be successful.
The vessels SHM mobilize to Qatari waters focus on developing a localized strategy as a leading service provider to the energy sector. “We anticipate the delivery of our first vessel, which will fly the Qatari flag later this year,” the CEO stated.
Kaabi emphasized how Qatar’s booming economy is driven by the energy industry. According to him, the North Field Expansion will enable the sector to grow quickly, opening the door for the nation to serve as a global entry point.
According to projections, 40 percent of the world’s LNG will originate from Qatar in the next five years. For SHM to be a part of such a significant milestone is an absolute honor, he said.
The CEO praised the nation’s historic achievements in luring investments and contributing significantly to the expansion of LNG projects around the world.
Since its founding at the beginning of 2022, SHM has profited and grown its position in Qatar by collaborating with illustrious companies.
All of the main oil companies have registered the nation, according to Kaabi, who also stated that “our biggest client right now is GDI (Gulf Drilling International), where we have been assisting them in their rig relocation operations. However, the most important development occurred lately when we won a project with QatarEnergy to support all of their ports. We have achieved a major milestone by finishing this in just one year.
The World Cup gave us the opportunity to welcome them and demonstrate how beautiful Doha is, according to the business expert. “Part of our business model also includes working with international companies to support them in the Qatar market.”
Kaabi emphasized that the new initiatives were started to work with Western shipyards and increase its visibility.
In order to emphasize that this will be the greatest fleet of vessels flying the Qatari flag, he said, “If all goes as planned, this will be the largest newbuild program done by a Qatari company in the Offshore support sector since 2014.”
“This is very exciting for us,” Kaabi exclaimed, “as we see the market rapidly rising and the support we have received from the shipyard in Europe is very encouraging.” The CEO stated that SHM now collaborates with QatarEnergy and GDI and that two new vessels will be added to its fleet by Q1 2024.
“We anticipate finishing our new building program within the next five years, and SHM Qatar will have a fleet of vessels, all of which will fly the Qatari flag,” Kaabi continued.
The Qatari-owned company received a 100 percent ICV score from Tawteen within a year of opening its doors in the nation, delivering a broad range of services in the offshore and maritime sectors.
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