Press Releases 02.23.2016
Oasys Water Continues Expansion of Global Operations to Deliver Treatment Innovation to the Middle East
Boston – February 23, 2016 – Oasys Water, the world leader committed to developing innovative Forward Osmosis (FO)-based solutions for transforming complex industrial wastewater streams into valuable freshwater resources, today announced that it has opened an office in Dubai to support business opportunities in the Middle East and Gulf Cooperation Council (GCC) region. Additionally, Oasys Water has reassigned Sada Krishnan, who was previously managing projects in Australia, to Dubai to lead these efforts at a time when conventional and unconventional oil and gas recovery, power generation, and inland desalination projects are rapidly growing in the water stressed region.
“Over the past two years since launching our award winning ClearFlo brine concentration technology, Oasys has been intensely focused on delivering high value solutions with our partners to oil and gas and power generation customers in North America and China. In parallel, we have been analyzing additional markets as we build upon this success and pursue our mission of helping to solve the global water crisis,” said Jim Matheson, president and CEO of Oasys Water. “The Middle East, and the GCC region specifically, emerged as a natural choice given the increasing water challenges faced by the oil and gas sector, which, alongside growth in broader industrialization, combine to exert massive stress on scarce water resources in the region.”
Water market research firm Global Water Intelligence (GWI) notes that the overall EMEA (Europe, Middle East, Africa) region is the world’s largest industrial water treatment market in 2016, comprising 38% of the worldwide expenditure on equipment and systems. As water scarcity continues to take a toll on the Middle East and GCC, the region is entering a period of rapidly increasing population growth which will further stretch demands on freshwater. At the same time, the region is in the process of growing and diversifying its industrial infrastructure, broadening offerings beyond crude oil and natural gas.
With oil price pressures creating challenges for the oil and gas industry, companies need to implement water recovery and reuse projects to reduce operating costs and increase profitability. Oil production costs range from $6 – $15 per barrel in the Gulf region, and with sub-$30 crude oil prices, there is strong and growing demand for new technologies to increase water recovery and help manage growing volumes of complex produced water. Also, as the region explicitly seeks to diversify its industrial base, water supply security and wastewater discharge constraints are putting pressure on companies to implement water reuse solutions to balance economic growth with the ever-worsening water scarcity issues.
A 20-plus year veteran of the water industry and one of Oasys’ early commercial leaders, Sada Krishnan has been appointed Director of Middle Eastern Business Development and General Manager for the company’s Dubai office. In this role, Krishnan will be tasked with expanding Oasys Water’s presence in the Middle East and enabling the company to support the unique water treatment needs in the region. Krishnan joined Oasys in 2014 to lead the company’s Australian entity, Oasys Water Australia, Pty., which at the time was the company’s first international office with a specific focus on serving Australia’s coal seam gas market.
“Creating a presence and appointing Sada to lead our efforts in this region is an important milestone for Oasys and demonstrates our commitment to being a key part of the solution set for the Middle East. We are very enthusiastic about the prospects in this region and expect it will represent an important and significant aspect of our business moving forward,” continued Matheson.