14 April 2017
MESC published an article at Oil Review Magazine (MESC sees partnership as key ingredient for survival and success)
MIDDLE EAST SPECIALIZED Cables Co (MESC) is expanding into new markets and sectors, placing the MESC brand “at the heart of every project.”
MESC provides the oil, gas and petrochemical sector with instrumentation, telecommunication and control cable products that meet the highest international standards and quality at the optimum cost. Catering to, and customized – if required – to contractors’ needs or project specific requirements, MESC products have been used in mega projects in the region for the past 24 years.
One of the key success factors for MESC is that it continuously adopts, improves and adjusts its strategy to meet industry challenges and market requirements.
MESC continues to improve its facilities in Riyadh, Saudi Arabia and Ras Al Khaimah, UAE, upgrading manufacturing and testing facilities and designs, with a focus on cost and product optimization. While the GCC oil and gas market has undoubtedly been affected by the drop in oil prices, the challenge posed by oil price fluctuations is not new.
These fluctuations are reflected in the direction of projects. Recently, certain sectors such as refining and downstream projects have gained momentum, taking advantage of lower oil prices which have driven the cost of construction down. Some projects are being awarded at a 50 per cent less cost than five years ago, with some clients awarding projects at a much lower cost than originally budgeted over the past nine months.
MESC believes that the market will pick up in the coming six to nine months, and expects that the Saudi and GCC market will return to its normal active pace, in terms of project execution, by the fourth quarter of 2017 or the first quarter of 2018. In the current environment, companies are looking for partnership-oriented vendors and suppliers who are responsive to the current market situation and supportive of their clients, understanding the need for lowering costs without compromising on quality or performance.
MESC strives continually to do so, cooperating with the major international EPC contractors in providing cost-effective technical consultations and solutions to cut costs on instrumentation, communication and control cables in mega oil, gas and petrochemical projects. MESC offers different contract types to suit its clients, where it can form a win-win partnership that will ensure survival and success in the current economic phase. This emphasis on partnership is a core MESC philosophy and key success factor.