Abu Dhabi start-up launches networking platform for energy professionals

Company is on the lookout for strategic partners to fund its global expansion

Mohammed Loch, chief executive of DMS Global. Photo: DMS Global

Abu Dhabi-based start-up DMS Global has launched a platform similar to Microsoft’s LinkedIn that allows energy professionals, particularly in the oil and gas sector, to network, recruit employees and share work milestones.

DMS Universe went live in February and currently has thousands of members from top energy companies such as Adnoc, Saudi Aramco and Malaysia’s Petronas on its platform.

“We are starting to get more and more users every day. It is growing … slowly but surely,” Mohammed Loch, chief executive of DMS Global, told The National.

The platform, which allows participants to upload posts and interact with one another, will soon be an online marketplace for products and equipment, Mr Loch said.

Currently, manufacturers can showcase their products on DMS Universe to engineering, procurement and construction companies as well as other vendors, he added.

The companies are charged an annual fee to display their products.

It covers the cost of the platform and also keeps away “Mickey Mouse companies” that want free marketing, Mr Loch said.

The energy sector employed more than 65 million people in 2019, equivalent to about 2 per cent of global employment, according to the International Energy Agency.

The jobs are equally divided among fuel supply (21 million), the power sector (20 million) and end uses (24 million) such as energy efficiency and vehicle manufacturing, the agency said.

“In theory, I would love it if all 65 million people are going to be on my platform … that's the goal. I have no idea how much of that can we achieve in the next 18 months,” said Mr Loch.

“Our priority is creating a market. We have sponsored webinars … that’s another revenue stream.”

The start-up owner also hinted at foraying into big data analytics once there is enough information available on the platform.

At the moment, the company, which is self-funded, is on the lookout for strategic partners to fund its global expansion.

“We're looking for people that will bring added value to our business … and then that will elevate us to the next level,” said Mr Loch.

“We're looking at maybe a couple of million dollars [right now] … we'd love to look at going for an initial public offering some day.”

DMS Universe, which is currently targeting participants in the Middle East’s large energy industry, also plans to make a “very big drive” into the Indian subcontinent and South-East Asia later this year, Mr Loch said.

“It's kind of a global contracting chain because you might have the project in the Middle East, but the EPC contractor [could be] in Europe and the products [may be] bought in Asia,” said Mr Loch.

“And then next year … I want to go to Europe and the Americas.”

The platform’s launch comes against the backdrop of a global energy transition, which gathered pace following Russia’s invasion of Ukraine last year.

In its Net Zero by 2050 Scenario, the International Energy Agency expects 14 million new clean energy jobs to be created by 2030, with another 16 million workers set to switch to new roles related to the renewables sector.

About six million people work in the oil and gas sector and more than 10 times as many are employed by the industry indirectly, according to the International Labour Organisation.