The Business Year

HE Khamis Juma Buamim

UAE, DUBAI - Economy

Development & Innovation

Chairman & Group CEO, Drydocks World and Maritime World

Bio

HE Khamis Juma Buamim was appointed to his current position in May 2010 and has successfully led the organization through its restructuring during the global financial crisis. His leadership and direction have been instrumental in the company being able to acquire several pioneering projects on a global scale. Buamim is the Executive Chairman of Dubai Maritime City, a member of Dubai World Management Committee, and is also the Chairman of the Dubai Council for Marine and Maritime Industries.

"Our strategy through 2035 is to focus on the offshore, deep water, and other services."

Drydocks World has just been presented with the Category 1—Best Oil & Gas Project award for the construction of the world’s deepest and largest subsea oil storage facility at the ADIPEC Awards, as well as the Shipyard Facility of the Year and The Innovation Award at the Maritime Standard Awards. Similarly, you have received the IMC Golden Helm award for your contributions to the sector. How would you describe the significance of these triumphs?

Appreciation of our growth, innovation, excellence, and ability to deliver and prosper is always welcome. The Category 1—Best Oil & Gas Project award was, without a doubt, an exceptional achievement for us that also reflects positively on our workforce because they have contributed to this success. Drydocks World is beginning to shift focus. To be a leader in the offshore industry you have to compete with places like Korea, Singapore, Japan, China, and certain European countries like Germany. For us to compete with them we have to reach certain standards and capabilities. What is important about the awards is that they are decided in a strictly managed and controlled environment. Certain awards are, of course, classified as global, and therefore they will always be at the forefront when it comes to helping our commercial and marketing teams to drive the business forward. That is important because clients want you to achieve the most you can. If you can get these kinds of awards then you are really proving your credentials.

How would you describe the primary focus of Drydocks World going forward?

Our strategy through 2035 is to focus on the offshore, deep water, and other services in the oil and gas sector. That is where the growth will come from. As a heavy industrial offshore company we have to target bigger and better jobs and also expand our capacity to achieve the most we can. We have become the major supplier for most, if not all, the innovative projects over the past three-four years; our brand focus is to be the only company that has such capabilities.

“Our strategy through 2035 is to focus on the offshore, deep water, and other services.”

What would you describe as the major growth opportunities for Drydocks World within the oil and gas sector?

There are major opportunities in offshore production, service and accommodation, platforms, including new build and upgrades, refurbishments, equipment, and other marine solutions. Also, the very large and ultra large offshore structures including modules have real growth potential. Many people no longer think of oil as an isolated sector in itself; it encompasses a lot of other industries, in which it has grown very quickly. If you look at technology, the oil industry is still at the forefront of technology and will keep growing. In that respect, it is becoming very forward thinking and that is where we need to stay and focus ourselves on delivering megaprojects in the oil industry.

What initiatives is Drydocks World undertaking to move the industry forward?

Most of the projects we have undertaken so far have reshaped the oil and gas industry one way or another. The future is going to be in specialized structures and module-capture units. In order to capitalize on deep water deposits and reserves you have to build them; you have no choice. And so, the fact that we were the first to build and develop such systems with our partners is fantastic. Elsewhere, the oil industry is going to see more gas coming out of Australia because of our participation. Germany will also have more clean energy because of our participation, while Scotland will have the capability to store offshore. Thanks to such technology, the US also came back into offshore drilling. That is excellent.

What are your expectations for the future, not only in regard to the maritime industry but also maritime trade in general?

The global maritime trade will continue to suffer for the foreseeable future. Actually, I’m not sure how growth can be reestablished. However, I think what will grow is new innovation and technology offshore. Why? Because everyone is looking for efficiency, cost cutting on fuel and bunkering, and having less of an impact environmentally. This will happen because we are seeing more and more ships with different designs, the equipment for efficiency has changed, and there is more technology that has surpassed the old technology. The second aspect is the offshore industry itself; oil and gas, renewables, service, and transport, which all are innovating to a totally different level.

© The Business Year – December 2014

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