First of all, I would like to wish you and all of your families a prosperous and successful 2023. I hope this year is full of joy, health and happiness to every member of your family and loved ones.

The industry is finally at its historic inflection point, and as I have long said, this is the best time to be in the industry. We have many years of upturn ahead, whereas the unprecedented years of underinvestment in the sector are finally behind us. The world needs energy and our region is the first to respond. We have the most reliable and economical Oil & Gas, and therefore we need to provide this reliable and cost-effective energy to the world. We must do this in a sustainable manner.

As the National Champion of the region, our operations span across all major oil and gas basins in MENA and we pride ourselves on delivering exceptional service and deploying optimal technical solutions to solve the challenges of our customers, while striving to promote the economic development of the countries in which we operate. At the same time, we recognize our impact - and responsibility - to our planet. We need to continue to educate ourselves, promote our commitment to the world for lower emissions and more sustainable energy resources. We need to eliminate or minimize our waste and the waste of the industry, and we need to be the most responsible organization for our employees, their families, the people around us, and for a better climate & world we live in.

We never stopped striving for excellence and we continue to evolve our services to better meet the increasing global demand for energy in a responsible and sustainable manner. As a company, we have made considerable progress across the organization in the past several years. We were extremely proud to attend the COP 27 and present our “Flare to Forest” solution. I strongly believe that every country in the region should immediately adopt the concept, as the industry needs to move from being perceived as a polluter to a provider of fresh water to the community and the industry. In addition, we need to extract useful minerals and continue our drive for proper circular economy. We made excellent investments in multiple technologies over the years that we believe will pay dividends in the coming year. We are very proud of ICE, WDVG, and Qube to name a few and look forward to the inauguration of our research facility in Saudi.

I would like to thank you all for the incredible effort and dedication, and I trust that the best is still to come in harvesting the fruits of all the past years hard work and in emerging stronger from the pandemic. We continue to achieve improved results toward our HSE, SQ, financials and sustainability goals.

I count on your continuous dedication to emerge as one of the best companies to work for and I wish you and all your families the best in everything.

Sherif Foda
Chairman of the Board & CEO