HOUSTON, March 18, 2014 /PRNewswire/ -- Flotek Industries, Inc. ("Flotek" or the "Company") (NYSE: FTK) today announced that its Middle East joint venture, Flotek Gulf, will exhibit at the OGWA Exhibition and Conference in Muscat, Sultanate of Oman, March 31-April 2, 2014.
The biannual conference is one of the largest gatherings of oil and gas professionals across the Middle East and Africa, with exhibitors and attendees from over 20 countries. Lead sponsors and supporters include BP; Gulf Energy, Flotek's partner in Oman; and the U.S. Embassy in the Sultanate. Flotek Gulf will be exhibiting its specialty chemistry capabilities for both primary completion and production as well as Enhanced Oil Recovery to company executives and engineers throughout the region.
The exhibition is held in conjunction with the Society of Petroleum Engineers Enhanced Oil Recovery conference. The conference will bring together global experts in all forms of EOR techniques to present, share and discuss their ideas, initiatives, and findings. It will cover the latest advances in thermal gas and chemical EOR methods, EOR selection criteria, surveillance techniques for locating remaining oil, challenges in implementing EOR, and more.
"Flotek is delighted to have this stage to introduce our new joint venture with Gulf Energy and Tasneea Oil & Gas Technologies – Flotek Gulf – to the region at one of the most impactful trade gatherings of the year," said John Chisholm, Flotek Chairman, President and Chief Executive Officer. "With over 10,000 visitors expected to the exhibition and conference, this is a terrific way for Flotek Gulf to meet key players in the region. In Oman alone, the industry comprises over 48% of the Sultanate's Gross Domestic Product with over $28 billion of total revenue coming from the oil and gas industry. We look forward to building a durable presence in Oman and beyond that can capture a meaningful portion of that opportunity."Chisholm added, "While we continue to work toward permanent facilities in Oman, we are already having an impact as our international sales continue to accelerate. Moreover, our continued growth in Enhanced Oil Recovery is yielding results in the region, from work in the United Arab Emirates to, most recently, opportunities to propose innovative solutions for EOR projects in Oman. The SPE conference, in conjunction with OGWA, provides another avenue to showcase our EOR capabilities to global EOR decision makers." The Exhibition and Conference will be held at the Oman International Exhibition Centre in Muscat March 31-April 2, 2014. More information can be found at www.ogwaexpo.com. Pending Retirement of Kevin Fisher Flotek also announced that Kevin Fisher, Executive Vice President of Business Development has announced he will retire from Flotek. Kevin will relocate to Colorado to be closer to family and pursue various personal and professional interests. Mr. Fisher will resign as an officer of Flotek effective today but will remain an employee of Flotek until the end of April at which time he will become a consultant, without additional compensation, to the Company through the end of 2014. The current technical and sales and marketing teams will assume Kevin's responsibilities.
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