What is the asset class and geography that you are focused on?
We deal with all types of offshore units - that's jack-up drilling rigs, semi-submersible drilling rigs, specialised vessels like wind-farm installation vessels. The Bassoe geography is worldwide, but my personal focus is the Middle East region and the Indian Ocean. That will take me further afield as I look for assets or construction facilities to bring rigs into this region from a customer standpoint, focused on Mena and the Indian Ocean.
What is the outlook?
We're quite optimistic looking ahead into the future. We see increasing demand for rigs particularly in this region - high-specification rigs whether that's new construction or standard purchase. So we're bullish on the market and see the Middle East and the UAE as the place to be as we move forward.
What are the main risks to that outlook?
In the oil and gas market in general and the offshore sector, the ultimate driver is the oil price, which has been historically at a quite high level for the past few years. It's been stable for the last year or two. We don't see much risk to that having much of a move to the downside. The threat to the market is the global economy and the oil price, but we're bullish that it's going to stay positive so we don't see too many risks in the short term. Most oil companies in this region and most governments in this region are setting up their country budgets around oil prices of about US$80 a barrel, so there's leeway between here and $80.
What is the best investment at the moment?
We think there's a lot of good investments today in the offshore sector. To pick one out, high-specification jack-up drilling rigs are offering pretty high returns at the moment. They're getting good day rates, which have increased 10 to 15 per cent in the past six months. So there's high utilisation. In terms of a return on investment, either standard purchase or new-build, high-spec jack-up drilling rigs are good bets in the near term.
What was the best investment you were ever involved in?
The best trade I have personally been involved in was the negotiation of a multiple jack-up drilling construction contract for a regional drilling contractor. This came to a total of $1 billion. That's the type of trade that we would like to replicate at Bassoe Offshore.
What was the worst?
My worst trade? None particularly stand out. Some projects have yielded higher returns than others, but it is difficult to pick one out and say that was the worst. They have all been interesting projects. Some have better returns than others, but I wouldn't want to name the worst.
ayee@thenational.ae
SERIE A FIXTURES
Friday (UAE kick-off times)
Sassuolo v Bologna (11.45pm)
Saturday
Brescia v Torino (6pm)
Inter Milan v Verona (9pm)
Napoli v Genoa (11.45pm)
Sunday
Cagliari v Verona (3.30pm)
Udinese v SPAL (6pm)
Sampdoria v Atalanta (6pm)
Lazio v Lecce (6pm)
Parma v Roma (9pm)
Juventus v Milan (11.45pm)
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Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
The biog
Nickname: Mama Nadia to children, staff and parents
Education: Bachelors degree in English Literature with Social work from UAE University
As a child: Kept sweets on the window sill for workers, set aside money to pay for education of needy families
Holidays: Spends most of her days off at Senses often with her family who describe the centre as part of their life too
TECH%20SPECS%3A%20APPLE%20IPHONE%2014%20PLUS
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FIGHT CARD
Welterweight Mostafa Radi (PAL) v Tohir Zhuraev (TJK)
Catchweight 75kg Leandro Martins (BRA) v Anas Siraj Mounir (MAR)
Flyweight Corinne Laframboise (CAN) v Manon Fiorot (FRA)
Featherweight Ahmed Al Darmaki (UAE) v Bogdan Kirilenko (UZB)
Lightweight Izzedine Al Derabani (JOR) v Atabek Abdimitalipov (KYG)
Featherweight Yousef Al Housani (UAE) v Mohamed Arsharq Ali (SLA)
Catchweight 69kg Jung Han-gook (KOR) v Elias Boudegzdame (ALG)
Catchweight 71kg Usman Nurmagomedov (RUS) v Jerry Kvarnstrom (FIN)
Featherweight title Lee Do-gyeom (KOR) v Alexandru Chitoran (ROU)
Lightweight title Bruno Machado (BRA) v Mike Santiago (USA)
Killing of Qassem Suleimani
pakistan Test squad
Azhar Ali (capt), Shan Masood, Abid Ali, Imam-ul-Haq, Asad Shafiq, Babar Azam, Fawad Alam, Haris Sohail, Imran Khan, Kashif Bhatti, Mohammad Rizwan (wk), Naseem Shah, Shaheen Shah Afridi, Mohammad Abbas, Yasir Shah, Usman Shinwari
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
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Scores in brief:
- New Medical Centre 129-5 in 17 overs bt Zayed Cricket Academy 125-6 in 20 overs.
- William Hare Abu Dhabi Gymkhana 188-8 in 20 overs bt One Stop Tourism 184-8 in 20 overs
- Alubond Tigers 138-7 in 20 overs bt United Bank Limited 132-7 in 20 overs
- Multiplex 142-6 in 17 overs bt Xconcepts Automobili 140 all out in 20 overs
if you go
The flights
Etihad flies direct from Abu Dhabi to San Francisco from Dh5,760 return including taxes.
The car
Etihad Guest members get a 10 per cent worldwide discount when booking with Hertz, as well as earning miles on their rentals (more at www.hertz.com/etihad). A week's car hire costs from Dh1,500 including taxes.
The hotels
Along the route, Motel 6 (www.motel6.com) offers good value and comfort, with rooms from $55 (Dh202) per night including taxes. In Portland, the Jupiter Hotel (https://jupiterhotel.com/) has rooms from $165 (Dh606) per night including taxes. The Society Hotel https://thesocietyhotel.com/ has rooms from $130 (Dh478) per night including taxes.
More info
To keep up with constant developments in Portland, visit www.travelportland.com
BEETLEJUICE BEETLEJUICE
Starring: Winona Ryder, Michael Keaton, Jenny Ortega
Director: Tim Burton
Rating: 3/5