Environment & Energy | Sunday 3 May, 2015 1:59 pm |

The Oil & Gas Year (TOGY) –  a series of annual, country-specific energy reports on petroleum provinces worldwide – has appointed Ms. Annie Michailidou as the new country director for Saudi Arabia who will lead and oversee the preparation of its third energy report on the country.

Following the success of the 2014 edition, TOGY continues to provide the most comprehensive business intelligence report dedicated to Saudi Arabia’s energy industry.

Ms. Michailidou and her team of analysts have already conducted high-level meetings with leaders in the country’s oil and gas industry since she arrived in April for the upcoming “The Oil & Gas Year, Saudi Arabia 2015”. Besides, she also has held talks with dozens of representatives from the industry’s foreign delegations.

Armed with a good track record, Ms. Michailidou is optimistic that though it is her first time in the country, her vast experience will allow her to establish TOGY’s foothold in the world’s première energy economy. She is enthusiastic to working in the Kingdom knowing that a competitive local oil and gas industry will ensure Saudi Arabia, along with UAE, is one of the top economies in the region in which to do business.

Ms. Michailidou forecast that the Saudi energy sector – from upstream to downstream – remains of vital importance to the economy, and is poised for unprecedented growth, diversification and profitability. She noted that foreign investment (in the sector) has increased 500 percent over the last 10 years to SR1.05 trillion ($280 billion) at present, underpinned by a $90-billion petrochemicals industry.

“The timing of TOGY entering the Saudi Arabian market is apparent at this stage. The decisions made within the oil and gas industry in 2015 complement sound investment decisions in the world’s most important petroleum province with production at 10 million barrels of oil per day – at the vanguard of the Organization of the Petroleum Exporting Countries (OPEC),” she said.

She further said that TOGY’s role in Saudi Arabia in 2015, after speaking with the country’s decision-makers, is to provide better understanding through the most comprehensive business intelligence report on why a robust energy industry and its sub-sectors bode well for long-term investment in the country.

Mr. Eric Gay, TOGY regional director for the GCC, said “as TOGY commences interviews for its 2015 edition, Saudi Arabia's oil production has been near record-high levels. A continued production push from the country will be the backdrop for a high-profile exploration and production chapter in the report. “




He observed that Saudi Arabia's production boost is on the lips of most oil and gas executives, and provides an interesting perspective for the 2015 edition.

Recently audited by Business Publications Audit of Circulations (BPA) Worldwide, The Oil & Gas Year series’ readership includes 69,000 energy and finance executives in 101 countries together with key government ministries and oil and gas executives in the GCC and globally.