Nazeeh Alrae

What recent milestones and achievements has Gulf Torch accomplished?

We have successfully acquired assets that will enable us to provide maintenance and services to the oil and gas industry. Additionally, we have completed several medical gas installations. Currently, we are working on CO2 recovery projects aimed at enhancing our business in the recovery sector. Financially, we expect 2023 to mirror 2022; however, we maintain a positive outlook for 2024, hoping for stable or improved economic conditions. We are closely monitoring green hydrogen projects to contribute and provide support, whether it is direct hydrogen sales or its conversion into green ammonia. We believe we have valuable contributions to offer.

What strategies does Gulf Torch utilize to maintain competitiveness in the rapidly evolving energy industry and ensure ongoing success?

To remain competitive, it is crucial to closely monitor one’s capital and ensure its efficient allocation. This holds utmost importance in the current market, which is highly competitive with numerous players, including renowned international companies with extensive regional support and reputation. Local companies like ours, benefiting from smaller, agile teams, can make swift decisions, gaining a competitive edge. Smaller organizations often have the benefit of streamlined decision-making processes, facilitating quicker actions. This approach allows us to maintain competitiveness, and as our capabilities grow, we anticipate even greater competitive strength over time.

How does technology shape Gulf Torch’s operations, aiding efficiency, productivity, and customer experience through digital transformation initiatives?

Currently, government transactions, applications, and approvals are moving toward complete digitalization or online services, approaching nearly 100% adoption. Similarly, invoicing, financial banking, and other transactions are now conducted online and remotely. This shift has considerably reduced the time required for permit applications and conducting business, a development for which we should be grateful.