The Oil & Gas industry is a heart of the global economy reflecting the health and growth for any economy. It can be conceder also as important tools for the political to direct the trend of the world economy.
Egypt is the largest oil producer in Africa that is not member of the OPEC, and the second largest natural gas producer on the continent , following Algeria , Egypt also plays a vital role in international energy markets through the operating of the Suez Canal and Suez Mediterranean Pipeline, import transit points for oil and LNG shipments from Africa and Persian Gulf to Europe and the Mediterranean Basin.
The Company Profile provides you with a brief overview of Mediterranean Oilfield Services Company MOSCO, a description of our key businesses and their performance, and an update on our strategic direction.
Since 2010 Mediterranean Oilfield Services Company MOSCO, has come to exist and its today focus on those areas of business where we can create values for our client and the company itself across the market cycles within the new market conditions . Although MOSCO was established from 4 years , we proud that we have accumulated experience in the oilfield service activity through the Middle East and Africa which exceed 30 years. We are pleased to report another year of successful results for the Company ; during the last 2 years we focused more directly on the petroleum services market by disposing our company to meet the requirements of the rapid changing market.
Our markets have seen extraordinary turmoil during the past few months, with a ramp up in oil prices to unprecedented heights followed by an even more precipitate fall, and the underlying causes are well understood. Regardless that we established our business in efficient, strong, rapid way, we occupy an important niche in the petroleum services equation to be a brief phenomenon.
We thank all our staff for enabling the Company to produce another fine performance in challenging times.