It gives me great pleasure to introduce this particular anniversary issue of ‘News & Views’ as MIS just completed its 30th year of profitable operations in the region. From a modest fabricator to the oilfield services industry in 1979 with one client and 4 employees, today MIS and its 4000+ employees is a leading contractor to the oil, gas and energy services industry. With seven value streams supporting MIS’ unique position, offering total integrated contracting services to the industry, we have much to celebrate in our anniversary year.

Today’s MIS is undergoing a period of remarkable change to support its strategy for the growth and development targets over the next few years. This organisational change comes in different forms and has touched MIS across all levels. Indeed, in the past year alone, we restructured MIS’ business by value stream allowing us to look more closely at each business; we introduced a new management system hinged on the Balanced Scorecard ensuring focus and accountability for everyone; we expanded into new geographies and services and, last but not least, we forged a strategic alliance with one of the nation’s leading universities. Introducing some of these changes to a company that was as successful and as well established as MIS was not always an easy task but today as I talk to MIS’ employees, I witness first-hand a level of engagement that is uniquely MIS. That MIS delivered two offshore jack-up drilling rigs built to a ‘first of class’ design and that it maintained a strong balance sheet in difficult times, gives us even more reason to feel proud at this moment in MIS’ history and is testimony to MIS’ resilience. These achievements would not have been possible without the trust and commitment of our valued clients, the dedication of our employees, shareholders and partners and the guidance of MIS’ board of directors. We have a way to go to achieve our 2013 strategic goals of becoming a US$ 1bn company with a net profit of US$ 100 mn. We will not rest at this critical juncture in MIS’ growth. I have full confidence that with the support of MIS’ clients, shareholders and its large family of employees, we will get there.

Kevin J. HudsonManaging Director

A word from the Managing Director

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Throughout its 30-year history, change has been on-going at MIS. An innovative stance to the business has allowed MIS to adapt to a growing and evolving market and industry. Below are some recent key milestones in MIS’ history.

The Different Colours of Change at MIS

2003 | MIS Sharjah yard reclamation

This major expansion project increased MIS’ yard footage and boosted its berthing capacity adding some 75,000 m² to MIS’ yard and creating a water depth of 8m at L.A.T. This opened the door for MIS to handle large-scale offshore rig refurbishment and new build projects.

2006 | MIS entersnew build market

MIS took an innovative leap and entered a very tough market. This has been MIS’ most challenging move to date and the learning curve has been steep. The reward, three years on, has been significant.

2007 | MIS lists on the Oslo Stock Exchange

As the first GCC company ever to list on the Oslo Børs, the home of many oil & gas and energy companies, MIS positioned itself as a key GCC oilfield services contracting com-pany catering to a wide audience of global and regional clients and investors.

2009 | Organisational restructure, value stream re-alignment

Building on the organisational changes started in 2008, MIS moved to a value stream-focused organisation. Although in its early stages, results indicate an improvement in productivity, efficiency and overall teamwork.

Change continues at MIS. We now focus our efforts on making MIS’ talented people even more accountable, more collaborative and more strategic, working towards our goals for 2013 and preparing MIS for the next 30 years!

Kevin Hudson took over as Group CEO in 2008, introduc-ing a new management system and fast tracking the imple-mentation of the Balanced Scorecard system to focus on step change improvements and accountability.

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2008 | New management and the introduction of the Balanced Scorecard

SeaWolf Rigs sail away to final location

The SeaWolf rigs, Oritsetimeyin and Onome, first off-shore jack-up drilling rigs ever to be built in the Middle East, were delivered to their owner in February and July 2009, respectively. The rigs en route to their final destination in Nigeria. (Photo)

New Build

Hull 107

Hull 109 Hull 110

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Hull 104 | A Project Manager’s experience

Earlier this month, MIS received acceptance of delivery from its client, KSAM2 Petrodrill Off-shore Inc. for the jack-up “KS Endeavor” (Hull 107), thus complet-ing this final significant milestone within its scheduled contract delivery date.

The two rigs for Bahrain-based First Energy Bank, Hulls 109 and 110, remain on schedule for delivery this year. Noble Denton Middle East is representing the bank on the project management side.

Having now successfully delivered both the SeaWolf rigs (Hulls 104 & 105), and having gained the learning and experience, we look back on the early days of the new build programme. Hull 104, the first, was a challenge from the outset. As a ‘first of class’ design, the Super M2 posed some challenges but the learning and experience has already paid off on the later rigs.

MIS had received the basic engineering from Friede and Goldman (F&G), but all detailed engineering had to be done by MIS which was a far larger task than first envisioned. At the start of construction, drawings barely kept pace with the rate of construction and we faced a large amount of rework due to design changes from the designer, which had a direct impact on overall schedule.

The schedule for construction of major components for rig launching were all met on time. With the rig jacked up alongside the quay at MIS, the next step was to install the accommodation blocks, leg sections, cranes, helideck and cantilever with drill floor. This required sequencing the installation and turning the rig from port side to starboard and finally to stern when the cantilever was skidded on the rig. At this point the rig was substantially complete, construction-wise. With the help of the Manitowoc 18000 crawler crane this was achieved within the pre-agreed time line.

To complete the rig, the final stages of mechanical completion and commissioning remained, and this proved to be the toughest part. As this was a prototype of the Super M2, a few glitches had to be overcome not just by MIS but also by our contractors, notably NOV, Thermo & 7 Seas. Problems were tackled head on and finally cleared to the satisfaction of the client and ABS.

The rig was delivered later than agreed schedule date. However considering that this was a ‘first of class’ design with all the engineering, production and commissioning issues faced, MIS can be proud of its achievement to build and deliver the first jack-up rig build in the Middle East. Tom HartProject Manager

Saudi Aramco - Rig SAR 201 MIS completed work on the SAR 201 jack-up rig. The scope of this project covered major refurbishment work on the accommodation units in addition to blasting and painting work to the legs, tank repairs and coatings and some major piping works. The project also covered some additional work within the framework of the 5-year special periodical survey for MODUs (Mobile Offshore Drilling Unit). Saudi Aramco has been a client of the MIS Group for over 20 years with several projects completed by MIS Sharjah and MIS Arabia in Saudi Arabia (where MIS is in partnership with two local Saudi companies) but the SAR 201 was the first project that Saudi Aramco commissioned at MIS’ Sharjah yard.

Refurb

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Arab Drill 8 second visit to MIS

A long-time client of MIS, Arabian Drilling Company of Saudi Arabia (ADC) signed a US$ 5 mn contract to cover rig refurbish-ment work for its jack-up rig Arabdrill 08. The project was contracted on a fast-track basis with the rig completed in under four months. The project covered a range of shipyard refurbishment work including equipment replacement and upgrade, piping modifica-tion, tank conversions, and accommodation refurbishment and extension, as part of the rig’s preparation for its contract with Khafji Joint Operations, (KJO), a company owned and operated jointly by Aramco Gulf Operations (AGOC) and Kuwait Gulf Oil Company (KGOC). ADC has been a client of MIS since 1996 and the recent orders are testimony to the strong relationship with this key client.

MIS’ marine team at the MIS port yard

Fabrication & EPC

LPG bullets for Crescent Petroleum

MIS completed the supply of 10 large size LPG bullets to Crescent Petroleum, a long-term client of MIS, for its LPG recovery plant in the Kurdish region of Iraq. Total project involved a tonnage of 1400 Mts.

Columns for Petrofac

Petrofac awarded an EPC contract for five cladded and stainless steel columns, for the El Merk Project in the Berkine Basin of Algeria. This project highlights MIS’ long term relationship with Petrofac. MIS gained extensive & successful expertise while complying to the specification requirements of Algerian Regula-tions Authority in the completed ISG Compression Project.

MIS works at BP Sharjah

MIS has been involved in the development of the Sajaa facilities for the past twenty three years, as well as MIS’ current support in O&M services. In the last three years from (2007-2009 inclusive) MIS tallied 1.1 million man-hours at the field without LTI.

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RAK Gas and MIS | A strengthening relationship

The close-knit ties between MIS and the Ras Al Khaimah Gas Commission (RAK Gas), were further strengthened when MIS was awarded an additional contract for the West Bukha Treatment Plant in Khor Khwair. The project entails mechanical construction work with specific scope covering piping tie-ins, equipment erec-tion, construction of structure and coating and installation.

Fabrication & EPC

Sunbelt expands its office space

Mr. Jerry Smith officially inaugurated the new Sunbelt office extension, warehouse and train-ing facility in a small celebration held in March.

Sunbelt celebrates one million manhours without LTI

At a gala luncheon, MIS awarded Sunbelt for achieving a remarkable one million man-hours without Lost Time Incident in March 2009.

MIS’ longest running division!

O&M (previously referred to as Tech Services), MIS’ oldest division, coordinates the manage-ment of Operations and Maintenance Contracts with customers. It has a 30-year proven track record of performance covering project works at oil/gas and petrochemical facilities and plants, drilling rigs, offshore facilities, marine docks and marine vessels. With a workforce of over 400 skilled and administrative personnel, O&M provides manpower, equipment and materials to a diverse customer base. In April 2009, MIS received an award from DPE, one of MIS’ longest standing customers, in recognition of O&M’s contribution and support during DPE’s shutdown in the first quarter of 2009, without any Lost Time Injury (LTI). As MIS celebrates its 30 years, it continues to build on the value proposition that keeps it going strong.

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O&M and Sunbelt

30 years | MIS’ longest employee relationship

My association with MIS dates back to one month after the company was established in February 1979 (I joined in March). From the start, I was involved in most activities includ-ing the naming of Maritime Industrial Services, now known as MIS.

MIS’ emphasis on care is more than just a marketing strategy. A long history of care and a personal touch amongst its employees makes MIS ‘one big family’. This strong sense of family kept me going to this, my 30th year with the organisation.

Spending 30-years with MIS, I evolved from a young entry level recruit to today becom-ing a Vice President by enhancing my abilities in the areas of Admin, HR, Recruitment as well as handling a few major contracts and continuing to handle evergreen contracts for

MIS. As I grew, I also saw MIS growing and moving forward.

One of the biggest changes that I saw at MIS was when it became the first company in the UAE to build rigs thus placing Sharjah and the UAE on the world map. The evolution of MIS from a sundry fabricator to a full services provider to the oil and gas industry has been remarkable.

I sincerely hope that MIS grows to even greater heights and the goodwill and united strength of the MIS family carries on for generations to come.

Mohammed KunhiVice President, Operations & Maintenance Services

MIS Rig Metals and MIS Kuwait

MIS Kuwait Operations

It was a good year for MIS Kuwait’s order book. For the machine shop some of the orders were:

MIS Rig Metals

Burgan Co: Manufacturing of X/Overs Sub/DSA/ Drill collar for new API thread connection for Burgan Rig 136 & Rig 137.

UPDC: Refurbish /rethread stabilizer, recertify the BOP test stump.

Halliburton: Fabrication of adapter flanges. Schlumberger Andrill: Fabrication of X/over sub with NC 61 connection.

Fabrication shop orders: Burgan Co: Completion of three mud systems for Rig 136, 137 & 138.

Halliburton: Re-painting of bulker/fabrication 2 X 650 cu.ft silos & installation on the supplied bulker.

In 2008, MIS acquired Rig Metals, formerly 3CMI, a company specialised in projects like land rigs, pressure piping & mud systems. Rig Metals designed and fabricated a 4820 mud system for Weatherford Drilling. The project was completed within five months. Another mud system project was done for KCA Deutag. This is a 2500bbl mud system fabricated in four months. Two other projects are WCI pony sub: qty 2 x 10ft high pony substructures fabricated as per the API 4F for Woolslayer, end user is Nabors Drilling and Nabors rig refurbishment: completed in May 2009; a 3000 hp land rig refurbishment.

Rig Metals receives API 4F certification

Rig Metals received the API 4F certification thus further expanding its technical scope of services to include masts, substruc-tures, crown blocks and derrick manufacture. This certification allows MIS to apply a monogram to the above products manu-factured according to API 4F certification.

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Rig Metals at a karting event with the Weatherford Drilling team.

MIS Arabia

SATORP MIS Arabia received an order from Saudi Aramco Total Refinery (SATORP) for the supply and fabrication of several large columns, with the largest/heaviest being approximately 1300 tons and 90m long.

New Bogie hearth PWHT furnace under commissioning ESW process developed for Inconel 625

Ongoing major projects for MIS Arabia

JGC Japan / Saudi Polymer Companylargest columns ever built at MIS for JGC (October 2009)Fractionator (9.9m ID x 50m long) for NCP ProjectQuench Tower (10m Dia. x 55m long) for NCP Project

Hyundai / Saudi Aramco3 nos. Slug Catcher (103 + 3mm Inconel 625 clad)

CAT / Saudi Aramco19 nos. Cyclone Filters (ASME Sec. VIII, Div. 2, above 50mm thickness)

Saudi Aramco42 nos. scraper traps with handling system. MISA has devel-oped its own design for handling system for the first time in this project.

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MIS 30th Anniversary Celebrations Golf tournament, gala dinner and employee desert safari

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Human ResourcesHuman Resources | At the heart of MIS’ Management System

The HR department has been especially busy with a number of corporate initiatives designed to improve the services of this key enabling department for MIS, as it adapts to new developments and changes.

Some of these initiatives covered tracking the HR process to improve its efficacy, reviewing the performance appraisal process, the introduction of e-learning and reviewing the grievance policy allowing the department to pre-empt issues and address them up-front.

MIS-AUS Executive Development Programme

In line with its strategic growth programme coinciding with its 30th year anniversary, MIS signed a contract with one of the region’s leading universities, the American University of Sharjah (AUS), to launch the MIS Executive Development Programme (MIS-EDP). The contract was signed by Dr. Peter Heath, Chancellor of the AUS and Kevin Hudson, MIS’ Managing Director.

“One of MIS’ values is the continuous development of our people and this programme is an investment that will directly impact our future leadership programme.” Kevin Hudson, Managing Director.

Change Management

A Change Management workshop was held in September 2009. The workshop was built around viral change of behav-iours to help the organisation meet its 2013 strategic goals.

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MIS at the American University of Sharjah’s Annual Career Fair 2009

Information Technology

Signing of the ITQAN contract

MIS signed an agreement with systems integrator ITQAN Al-Bawardi Computers to provide a complete overhaul of the IT infrastructure platform and supply MIS with the latest technology both on a soft-ware and hardware level.

With MIS growing and expanding at a rapid rate, the upgrade is crucial to support its strategy for further growth and development, and the need for a strong technology base to supplement and trans-form MIS’ business processes and operations, is now more critical than ever.

MIS launches Live@MIS

To further boost the com-munication culture at MIS, an intranet was launched in 2009. The launch was made more remarkable by the fact that it took just 6 weeks to develop and was 100% in-housedesigned, and created by MIS’ IT and Communications teams.

The intranet, Live@MIS, aims to align all MIS ventures, encourage collaboration and communication amongst these ventures, share critical information and ideas and boost MIS’ communication culture - a common ground for employees to share the same space.

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Ossama Bader, MIS Vice President, IT, Human Resources, and Admin with Feras Al-Jabi, ITQAN General Manager

Quality Assurance

Participants and Facilitators in the Six Sigma Green Belt Training Photo Clockwise: Murali Nair, Prakasan K. V., Sajeed Abdul Vaheed, Abhilash Mathew, Chimbu V.,Michel Gandour, Ashraf Kalnad, Sameer Hassan, G. R. Thiagarajan, Mirza Baiz, Juliet Penaroyo, Helen Navarro, Sheeba Jennet, Abderrahim Benrabah, Muhammed Amin and Rajkumar D.

Six Sigma Green Belt Training - First wave

Six Sigma Green Belt Training – First wave: In line with its strategic planning process, a group of 13 people from MIS’ different value streams and divisions took part in an intensive Six Sigma Green Belt training course. The programme helped the candidates manage actual MIS strategic initiatives.

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Health, Safety and EnvironmentInternational Safety Award from the British Safety Council

In late 2009, MIS won the International Safety Award 2008 from the British Safety Council, one of the world’s leading health and safety training, advisory and audit bodies following a rigorous audit of MIS’ HSE statistics. This award reflects the MIS senior management’s commitment to HSE.

OHSAS 2nd Surveillance Audit from the Bureau Veritas

The OHSAS 18001: 1999 2nd Surveillance Audit from Bureau Veritas was successfully completed.

HSE Role Exchange Programme

MIS’ HSE division introduced a role exchange programme for supervisors from different depart-ments to better understand HSE functions, duties and responsibilities.

Emergency Drills Several emergency drills are conducted to assess the effectiveness of MIS’ emergency preparedness and response plan and also to ensure that individuals are well trained to react effectively in the event of an emergency.

“This award reflects MIS’ proven culture of safety across the entire organisation - from the management level right through to field employees.” Kevin Hudson

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Peter Convery, President, Mohammed Qassim, HSE Division Manager and Kevin Hudson, Managing Director.

Directors’ NewsMIS Board elects Dr. Karim El Solh as its new Chairman

MIS Financial Calendar FY 2010

Q4 09 Interim Financials + FY09 DraftFY09 Consolidated Financial Statements & Independent Auditor’s Report Q1 Interim Report H1 Interim Report Q3 Interim ReportQ4 Interim Financials + FY10 DraftAnnual General Meeting

Friday 19 February 2010

Thursday 25 March 2010Thursday 20 May 2010Thursday 19 August 2010Thursday 18 November 2010Thursday 17 February 2011Thursday 22 April 2010

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Abdul Salam El ZeidyDirector

Kevin J. HudsonManaging Director

John O’LearyDirector

Richard DallasDirector

Ammar Al KhudairyDirector

Fadi ArbidAlternate Director

Dr. Karim El SolhChairman of the Board

Charles L. DavisDirector

Jerry M. SmithDirector &

Special Advisor to the Board

MIS announced the election of Dr. Karim El Solh as its new Chairman of the Board during MIS’ regular quarterly board meeting held in Dubai in December.

Dr. El Solh, the Chief Executive Officer and founder of Gulf Capital, MIS’ largest shareholder, has been a board member since 2007. He succeeds Mr. Charles L. (Chuck) Davis who has assumed the responsibility of Chairman since the company was publicly listed in May 2007. Mr. Davis was one of MIS’ founding members and was a major force in its growth and success throughout its 30-year history. MIS, its board and management takes this opportunity to thank Mr. Davis for his dedication and commitment to grow this company.

MIS Awards, Conferences and VisitorsJerry M. Smith inducted as Member of ABS

In an informal ceremony, MIS celebrated the induction of Mr. Jerry Smith, Special Advisor to the MIS Board of Directors, into the American Bureau of Shipping (ABS). Mr. Bill Sember, President of ABS Europe Limited presented Mr. Smith with the membership plaque. Speaking at the ceremony. “ABS has worked closely with MIS for a long time and today marks an honour for ABS. We’re pleased to welcome Mr. Jerry Smith as a member.” Bill Sember, ABS

MIS’ delegation at the Offshore Technology Conference (OTC) in Houston, following the delivery of its first offshore jack-up drilling rig. The design, which is first of class, is a Friede & Goldman Super M2.

MIS Financial Calendar FY 2010

Q4 09 Interim Financials + FY09 DraftFY09 Consolidated Financial Statements & Independent Auditor’s Report Q1 Interim Report H1 Interim Report Q3 Interim ReportQ4 Interim Financials + FY10 DraftAnnual General Meeting

Friday 19 February 2010

Thursday 25 March 2010Thursday 20 May 2010Thursday 19 August 2010Thursday 18 November 2010Thursday 17 February 2011Thursday 22 April 2010

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Kevin Hudson, MIS’ Managing Director with Mashreq Bank executives during a visit to the MIS

Community, People, General News

MIS Brand Compass gets a facelift | New Corporate Identity for MIS

After serving MIS well for almost 30 years, the MIS brand compass got a facelift. The logo, inspired by MIS’ industrial work, was revamped to give it a more modern and leaner look while maintaining its core essence.

Employees of MIS raise funds for MSF To help support Medecins Sans Frontieres (MSF) in their initiatives across the globe, the employees of MIS raised funds and awareness for MSF.

Work Pack Monthly Awards

The work pack system, introduced in 2009, delivered some quick results helping MIS’ marine team in terms of planning and keep-ing to work schedules, effective resourcing, purchasing, delivery and quality control. The award is given monthly to the team members who achieve the highest level of completion of assigned work packs.

MIS President Peter Convery hands over the funds raised to Ms. Virginie Troit Amehame, Fundraising Director and Ms. Emilie El Jouary, Corporate Partnerships Officer of MSF.

Old

New

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SHARJAH-based yard group Maritime Industrial Services (MIS), flush with well-paying rig orders signed before the market went into decline last September, is shopping for investment oppor-tunities in a bid to expand its presence in the Middle East.

“Our backlog allows us to do all sorts of things,” MIS chief execu-tive Kevin Hudson told Upstream. Specifically, he said he is on the lookout to acquire another yard facility.

“A footprint in Abu Dhabi is a goal,” Hudson elaborated. He would also like to see MIS strengthen its process engineering capability, adding that these goals could be achieved “either through acquisi-tion or organically”.

MIS — based in the United Arab Emirates and with activities in Kuwait, Qatar, Saudi Arabia and Dubai — is scheduled this month to deliver its second newbuild drilling rig, a Friede & Goldman-design Super M2 for Nigerian owner SeaWolf. The first unit was delivered to the same owner in February.

While Hudson admitted that both these rigs were delayed and involved “a learning curve” for the yard, the ensuing orders for five Super M2 rigs are shaping up ex-tremely well.

He said the timing “couldn’t have

been better” on the contract sign-ings of MIS’ seven rig orders to date, including the last two that were signed with First Energy Bank Bahrain last Septem-ber — just before the market col-lapsed — at about $182 million per rig. Those are scheduled for deliv-ery in September and December 2010, respectively.

MIS also has a one-rig order worth $148 million from KS Energy Services for delivery this October, and a two-rig order from Mosvold Middle East Jack-Up, at $167.5 million per rig, for delivery in December 2009 and March 2010. These contracts leave MIS with a full orderbook for another year.

After that, the yard will shift some of its attention to “growing other value streams” such as engi-neering, procurement and con-struction contracts on land-based installations, with a particular goal to break into the Abu Dhabi market.

“The likelihood is that we won’t

see another newbuild order until 2011,” Hudson said. “They are few and far between these days.”

One advantage of newbuilding orders, Hudson explained, is that they “allow you to plan a steady labour force”. At present, MIS employs about 4800 work-ers.

Hudson took the helm of the company last October, just as the sub-prime mortgage crisis sent global financial markets into dis-array.

Since then several rig building projects at competing yards have tripped and stumbled as financ-ing dried up, rig rates diminished and employment prospects grew scarce for rigs ordered on specu-lation.

Hudson insists the six rig projects still under way at MIS are all in good shape, despite orders having been placed on a speculative basis without drilling contracts in hand. “Financing is the key, and we feel relatively se-cure with our clients… No prob-lems so far.”

Another yard source said that “everyone is policing clients ahead of milestone payments”,

but he, too, insisted that so far there are no signs of default or other financing problems for the owners of rigs being built by MIS.

Looking forward, Hudson said MIS is targeting $1 billion in rev-enues and $100 million in net profit in 2013, an ambitious goal given that the yard’s revenues in 2008 were $387.5 million and its net profit was $8.1 million.

He projects that by 2013 about 40% of MIS’ revenues will be generated by rig new-building activity and the 60% balance from activities such as EPC contracts, maintenance work and fabrication of process modules.

MIS on prowl to add to portfolio

Sharjah-based yard looking to flex financial muscles with acquisition

ERIK MEANSHouston

Strong hand: MIS chief executive Kevin Hudson

IOOC in Reshadat wells pushIRANIAN Offshore Oil Com-pany (IOOC) has re-issued a tender for 30 production and injection wells at the war- damaged Reshadat offshore oilfield, writes Vahe Petrossian.

The planned engineering, procurement & construction contract is estimated about $1 billion.

The state company did not cite a schedule — asking inter-ested companies to contact IOOC offices.

Reshadat, along with nearby Ressalat, has been under reconstruction and upgrade since being damaged by the US navy in 1988.

Private driller Global Petro-tech was last year selected as the provisional winner of an earlier tender round, after the lowest bidder was disqualified. How-ever, the tender was withdrawn and re-issued this week.

“They (IOOC) probably wanted to benefit from lower prices after the collapse of the oil market,” said a source.

Global, which is already handling the first-phase reno-vation of 19 damaged wells at Reshadat, will be taking part in the bidding for the second phase drilling job along with National Iranian Drilling Company and others.

Petroceltic spins drillbitDUBLIN-based Petroceltic International started drilling on its INE-2 well late last week on the Isarene permit in Algeria, writes Rob Watts.

Petroceltic and its partner, state-owned Sonatrach, are planning a five-to-seven well programme. The next well — AT-1 — is due to spud in about four to five weeks.

Petroceltic chief executive Brian O’Cathain said: “We are delighted to have started drill-ing again on Isarene. This is our first drilling operation on the licence since we acquired almost 1000 square kilometres of wide azimuth 3D seismic on the Ain Tsila ridge.

“We hope to test and ap-praise the existing gas accu-mulations on Isarene with this drilling campaign.”

PetroCeltic is operator with a 75% equity interest and Sonatrach owns the remaining 25%.

news

Oman dealOMAN LNG and General Elec-tric have signed a 16-year agreement worth $200 million for the maintenance of gas turbines used in the produc-tion of liquefied natural gas.

Oman LNG produces gas for export from two liquefaction trains that have a combined capacity of about 7 million tonnes of LNG per year.

Oman’s government owns 51% of Oman LNG, the rest is owned by Shell, Total and other investors.

Sunny days: MIS is looking for investment opportunities to make the most of its solid order book for its yard in Sharjah Photos: MIS

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MIS in the News

Up-close and Personal with Jerry Mickel SmithTo celebrate this 30th anniversary issue ‘News & Views’ talks to Jerry M. Smith, Special Advisor to the Board of Directors to get his feedback, views and favourite MIS moments. Mr. Smith stepped down from his role as MD in April 2009.

N&V- Your proudest MIS moment?

JMS: This is a really tough question as there have been so many proud moments over the years. MIS has accomplished so much and of course we have had many proud moments when we made major milestone advancements in our growth through the years. I can’t really separate them as some of the much smaller achievements in the early years meant as much as some major ones in our later years. However, if I had to pick one moment I would say that when I stood on the stage at our long service awards ceremony in November and looked out at the many friends and employees of MIS and realised what we had achieved together and what unlimited opportunity we had as a company looking forward. I believe that this has been my proudest moment.

N&V- What was it about MIS that kept you going forward through tough times?

JMS: Many things keep company leaders going in tough times as that is when they earn their mettle. I think that the responsibility to the stakeholders of the company that is felt personally by me and other company leaders is the paramount reason and the most important factor. With MIS the spirit and belief of the management and employees that we would persevere and solve our many tough times through the years has made us what we are.

N&V- What is the biggest change you’ve seen happen at MIS?

JMS: MIS has changed in many ways over the years and many of the changes were stiff challenges. However, I think that the current changes that we are going through, integrating new management, learning the mentality and procedures for being a much larger and public company are the most significant.

N&V- If you had to give MIS people a special piece of ‘30th anniversary’ advice, what would that be?

JMS: MIS management and employees must remain vigilant and focused. What took 30-years to build can fail in a few months. The first step for success for any contractor is being successful in obtaining work. The second step is to find some way to make this work profitable. The third step is to grow sales and profit which means that you must obtain more work and make more profit this year than you did last year. If the management and employees are vigilant and focused on these objectives over any others the next thirty years will be smooth sailing.

N&V- You are often cited as encouraging people to think and work innovatively at MIS. Please can you give us examples of innovation at work in MIS?

JMS: A very smart man once told me that you could achieve a lot by working hard, but you can achieve more by working smart. Innovation is working smart. It is using the brain instead of the body. It is planning before doing. Innovation is also like growth and quality -- no matter how much you achieve -- you can always achieve more. MIS has certainly been innovative through the years, and it is one of the key factors in the three steps of vigilance and focus mentioned above. Some examples of recent innovation are 1.) balanced scorecards, 2.) 20/20 cost reductions and 3.) measuring work packs, completed versus started but there is no way to quantify innovation as ideally it should be basis for all of the thoughts of all of the people each and every day.

N&V- How well prepared for the future is MIS?

JMS: No company can ever be completely prepared for what known or unknown challenges that they face. However, the main asset of the MIS company and family are its management and employees and I am confident with this group MIS is well prepared for the future. With vigilance, focus and innovation MIS can be more successful than anyone could dream. Just look at the last thirty years.

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