Dubai hosts Young Entrepreneurs' Organisation (YEO) conference

Shell to sponsor 2005 YEO Dubai University from March 2 to 6

February 17, 2005

Shell has announced its sponsorship of the 2005 YEO/WEO Dubai University, a gathering of members of the prestigious international Young Entrepreneurs' Organisation (YEO) and World Entrepreneurs' Organisation (WEO), to be held at the Jumeirah Beach Hotel, Dubai, from March 2 to 6, 2005.

The YEO, whose membership spans 35 countries, is a global, non-profit educational organisation that affords young entrepreneurs the opportunity to draw on business leaders' experiences and success stories through a series of educational forums and networking opportunities.

All YEO members are business professionals under the age of 40 who are owners, founders, co-founders or controlling stakeholders of companies reporting annual sales in excess of US$ 1 million with an average turnover of US$15million.

WEO, which is YEO's graduate organisation, is open to members who join before reaching age 47. By building on the camaraderie and growth that YEO offers, WEO has become the greatest global "graduate school" for business enrichment.

"As the business world changes apace there is an overwhelming need to harness the entrepreneurial skills of the world's brightest and best young thinkers and risk-takers. However, tomorrow's business leaders need to be equipped to face the challenges of the future, therefore the YEO/WEO Dubai University will serve as a networking forum for ambitious young business-men and women from around the world," said Hussain Al Mahmoudi, External Affairs Manager, Shell.

"The entrepreneur has long played a vital role in the world economy, and it is the vision of these pioneering individuals that leads to the creation of economic growth and opportunity. The YEO/WEO provides its members with the knowledge resources and support they need to build better businesses, which ultimately contributes to the improved welfare of surrounding communities," added Al Mahmoudi.

"Supporting the YEO Dubai University in Dubai is an extension of Shell's commitment to building more prosperous societies by nurturing the business leaders of the future. Our company's corporate philosophy is driven by a strong focus on encouraging young people to climb the corporate ladder, irrespective of gender," added Al Mahmoudi.

"The UAE has become home to many successful entrepreneurs in recent years and has become increasingly important in international business terms; therefore, it is only fitting that Dubai should host this forum. The event will expose young Arab entrepreneurs to best global business practices, a vital component in the development of the region's human capital," he commented.

The YEO Dubai conference is being held under the patronage of HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum. The event will feature addresses by keynote speakers from around the world, as well as breakout sessions offering a balance of personal development and cultural learning. It will also allow one-on-one social and information exchange, providing unsurpassed take-home value and life experiences.

Since 1987, YEO has conducted a series of programs designed to update members on financial, geopolitical and technological issues. While it is primarily an entrepreneurial educational organisation, the cornerstone of the YEO philosophy is personal development as an equal partner to professional achievements. It is also driven by the belief that one learns most from those who share their experiences.

In line with its endeavours to encourage aspirant young business people in the Middle East, in 2004 Shell launched the Intilaaqah (the Arabic word for 'start') programme, a regional initiative to support the efforts of young men and women striving to set up and run their own businesses.

"The primary objective of Intilaaqah is to provide young Nationals with the opportunity to receive the training and encouragement to develop their own business ideas into full-blown successful businesses which, of course, dovetails perfectly with Shell's commitment to the development of entrepreneurial skills and its sponsorship of the YEO/WEO conference," said Al Mahmoudi.

This philosophy is also evidenced through Shell's sponsorship of the annual Emirates Businesswoman's Awards which is aimed at recognising women's contributions in the business and professional world. The awards are presented to honour both National and expatriate women in the UAE for performance excellence.

Opening of Shell Representative Office Oman

Shell International has recently established a Representative Office in Oman. This marks a new chapter in the Group's long relationship with the Sultanate. The office, headed by a Country Chairman, will not only be responsible for co-ordinating Shell's interests in Oman but will serve as a reinforcement of Shell's commitment in support of Government's effort in the Oil & Gas industry.

The Shell Representative Office is accommodated in a building opposite the Cultural Club in Qurm. In an inauguration ceremony held on Monday, 15 April, 2002 under the auspices of His Excellency Dr. Mohammed bin Hamed Al-Rumhy, Minister of Oil & Gas and attended by a number of distinguished guests, John Crocker, Shell's Country Chairman in Oman and General Manager said " Shell forms part of the history of the Oil & Gas in Oman and has been associated with the country since the mid 1930s." After many years of hard work in difficult terrain, the economic recession of the 1940s, and Company's determination to remain in Oman despite the initial disappointments, Shell was the first to discover oil in commercial quantities in Yibal, Natih and Fahud between 1962 and 1964 under the old name of Petroleum Development (Oman) Ltd.

Mr. Crocker added "Shell has a special relationship with the Sultanate of Oman and is very proud of its contribution to the Country's rapid achievements under the wise leadership of His Majesty Sultan Qaboos bin Said. Over many years, the Group has worked very closely with the Government of Oman in developing the Oil & Gas industry and has utilised the most advanced technology in the world to help produce the oil & gas from the Sultanate's complex reservoirs. Shell is at the forefront of technology development in the Oil & Gas industry - I am confident that we will continue to improve our ability to find and produce more oil & gas in Oman in the future. Some of those reservoirs that are impossible to produce satisfactorily today, we are confident we will succeed in unlocking in the future. If we can continue this record of success, the supply of oil to help underpin the further development of the country will be preserved for many more years".

It is worth mentioning that Shell is the major private partner in Petroleum Development Oman (PDO), Oman Liquefied Natural Gas Company (OLNG) and Shell Oman Marketing Company (SOM) and is the technical advisor to these three organisations. Shell is a multinational that operates in over 135 countries and is renowned for the successes achieved in the oil & gas industry through the use of advanced technology and through its quality of products. The Company has been better known in Oman through the Shell Oman Marketing Company which currently operates about 116 retail filling stations throughout Oman. SOM which has existed in Oman for nearly 45 years, is an Omani Company and is owned by over 7900 Omani partners besides Shell. Oman LNG, which Shell helped to establish, plan and construct, is already making significant contributions to the Sultanate's national economy, and with future global gas needs, the contributions will rise even further. The OLNG Company which only started production in April, 2000, is already making a substantial impact on social development in the region with its forward thinking community schemes. The company invests a portion of its net profits on social investment every year. The Shell Representative Office will have no effect upon the operation of existing Shell interests which will continue to operate under the same management as they have done before.

But Shell is not all about oil & gas. The Group invests a sizeable portion of its income in sustainable development within the countries the Group operates. In Oman, Shell introduced the "Intilaaqah" programme over six years ago in support of the young entrepreneurs and on the 30th Renaissance Day, the Group donated a Carbonate Centre to the Sultan Qaboos University. Mr. Crocker said "I am very pleased that both projects have met with success, and continue to flourish in the positive environment for such development created in the Sultanate of Oman." Whilst Shell continues to support these projects, there are plans to support more social investment projects in the future, and in consultation with the Government of Oman, the Shell Representative Office will identify and invest in more areas of benefit to the Omani society.

Mr. Crocker concluded by saying "Shell treasures the good relationship that the Group has maintained with the Sultanate of Oman over the years. The Company, as always will remain committed to working closely with the Government of Oman in the development of the oil & gas sector. The establishment of the Shell Representative Office is in fact, one of the moves towards the reinforcement of this commitment." He wished His Majesty, the Government and the people of Oman continued success.