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Volume
44
Issue
1
17
After that, OAPEC Secretary
General HE Abbas Ali Al Naqi
gave
a speech pointing out that the
establishment of OAPEC stemmed
from its member countries’ belief
in the importance of cooperation in
making the most ideal exploitation
of their abundant oil resources in a
way that helps their economic and
social development to flourish.
He added “therefore, these
countries considered setting up an
independent Arab economic entity
that introduces potential areas of
petroleum cooperation among
member countries with a real
and objective vision in analysing
developments and challenges that
might face this industry whether
now or in the future.”
He explained that if we have a look at OAPEC
main goals, we can see that they come under
two areas:
Firstly;
working on encouraging the member
countries to coordinate and exchange expertise
amongst them in the field of industries and
petroleum research, in addition to, making
training opportunities available while resolving
any relevant problems.
Secondly;
strengthening
cooperation
and coordination, as well as, establishing
Arab petroleum joint ventures. OAPEC made
outstanding success by establishing a number
of successful affiliated- yet independent-
companies and Arab joint ventures; they are: the
Arab Maritime Petroleum Transport Company
(AMPTC), Arab Shipbuilding and Repair Yard
Company (ASRY), Arab Petroleum Investments
Corporation (APICORP), Arab Petroleum
Services Company (APSCO); in addition to the
Arab Petroleum Training Institute (APTI). This
has helped the geographical spreading of OAPEC
joint ventures across most of the Arab countries.
HE Al Naqi concluded by expressing thanks
and appreciation to the State of Kuwait for
hosting OAPEC’s headquarters, and to Egypt
for hosting OAPEC’s office in Cairo, and to all
member countries for their nonstop support. He
also thanked and hailed all former Secretaries
General, as well as, OAPEC current and former
staff for their efforts that contributed to
delivering the organisation’s mission.
HE Abbas Ali Al Naqi
OAPEC Secretary General
Al Naqi:
encouraging the member
countries to coordinate and exchange
expertise amongst them in the field of
petroleum industries and research.