A growth strategy usually starts by identifying and accessing opportunities within the market. Egypt currently has one of the highest potentials in the Middle East. Our growth strategy is based on how Drexel is evolving to meet today’s challenges as well as the challenges of tomorrow. Thus, we ensure to keep working towards goals that go beyond what is happening in the market today. We keep our shareholders focused and aligned to make decisions not only for today but for an emerging market in the future. This growth strategy is being carried out by continuous coordination among a cross-functional group of stakeholders in the Egyptian market. Drexel has been building partnerships with Egyptian customers and delivering a distinctive and integrated customer experience for more than 30 years.
What areas are you focusing on in Egypt?
We have a well-trained workforce, advanced equipment, and state-of-the-art facilities, which earned Drexel Oilfield its solid reputation for delivering client-focused services for multinationals in the business. We are currently focusing on new oil and gas projects and expansions, in addition to petrochemicals and fertilizers.
Are you looking to expand your business in Egypt?
Of course, as we previously highlighted, Egypt is booming and becoming an oil and gas hub, which encourages us to increase our investment in assets and personnel to serve the local market with the best up-to-date services and technologies.
How has the business landscape changed in Egypt over the last few years?
Drexel’s business landscape has changed over the last few years from acting as leaders to major reputable companies, to being a very specialized service provider. We have established downstream and upstream business units, in addition to safety and specialized units.
We have diverted from only serving other companies, to covering refineries, petrochemicals, gas, fertilizers and even new industrial construction projects.
What is your outlook for Egypt’s oil and gas industry?
We are developing the business within each of our companies, growing our upstream and downstream businesses. Within the upstream, we are currently pushing through our safety division within Drexel, which provides safety services for around 30% of the Egyptian market, in the same time we are looking into new acquisitions.
Within the downstream business, we are also working very hard, not just for oil and gas, but also by providing services for petrochemicals and fertilizers companies. We are aiming to be one of the top safety providers in training, Personal Protective Equipment (PPE), hydrogen sulfide (H2S), drilling operations, etc. We are providing these services across the whole industry, not just for oil and gas.
Do you see an opportunity in Egypt’s downstream sector?
We have invested in the downstream business to ensure covering full integrated services. This covers catalyst handling services, professional power services (PPS), and specialized mechanical services, in addition to specialized safety solutions. We have invested in new up-to-date nitrogen pumping units, vaporizers, tanks, flange management and hot tapping equipment, in addition to leak sealing services.
Our portfolio covers services required during the pre-commissioning of new projects and also specialized services during shutdowns and turnarounds. We would like to note that we worked on Zohr gas field in the downstream part of the gas plant. Furthermore, we have invested in our safety equipment and gas monitoring tools. We are also investing in logistics, transportation and workshops. Our eyes are focused on working with new refining and petrochemical for new upgrading projects.
We have just successfully completed works with Methanex, completing the mechanical works and heat exchangers hydro jetting works. We also completed new catalyst loading for Egypt Refining Company (ERC) refining and BP’s West Nile Delta Giza Fayoum and Raven plants including the full safety service for all the activities.
This is in addition to the nitrogen purging service of Gulf of Suez Petroleum Company (GUPCO)’s shutdowns and the lntermediate Chemicals (NCIC) of Ain Sokhna’s second ammonia tank.