The role of Arabic translation in the oil and gas industry
London,UK (PRWEB UK) 13 July 2012
Alongside the continued growth of economies such as China, India and Brazil has increased demand and consumption for raw materials and fuels such as oil and gas. As companies in the US and Europe consider their opportunities to expand by doing deals overseas, they will have to consider the important role that Arabic translation will play in the deal-making process and its global supply chain in accelerating its time-to-market.
The demand for gas in China is expected to double over the coming five years alone, according to research by the International Energy Agency (IEA). China, whose economy continues to increase and proliferate, is set to become the world’s third largest importer of gas, behind Europe and Asia Oceana. Meanwhile, overall global gas demand will increase by 2.7 per cent per year.
The IEA’s report also predicts a rise in demand for gas in Japan – prompted largely by a rethink of its approach to nuclear energy following the disaster at the Fukushima power plant in March 2011.
Businesses in the English-speaking world are not ignoring the growing demand for oil and gas elsewhere, with a recent Ernst & Young Capital Confidence Barometer report finding that 31 per cent of oil and gas executives will be looking to make a purchase in the coming year. Many share the view that the overall global economy is improving and want to ensure they are well-positioned to take advantage of the further growth in demand for the raw materials that allow emerging economies to expand their infrastructures.
An example is General Electric, the US-based giant’s oil and gas unit has announced it will aim to expand its order book by between 5 and 10 per cent over the coming few years. It intends to do this by buying technology and investing in liquefied natural gas and unconventional energy projects.
Despite the more confident outlook, businesses remain cautious and will want to ensure that all the information crucial to a deal’s due diligence and legal process is available in local languages. Andy Brogan, Global Transactions Advisory Services Leader for oil and gas at Ernst & Young explained, “While oil and gas executives are in a more confident frame of mind, they are still applying caution to M&A. Economic outlooks remain uncertain and geopolitical instability continues to be a concern.”
When embarking on oil and gas deals, one of the most common locations to do business is in the Middle East. The region is one of the richest when it comes to oil and gas reserves. Many of the largest oil companies in the world – measured on reserves – are based in Saudi Arabia (Saudi Aramco), Iran (National Iranian Oil Company), Qatar (Qatar General Petroleum Corporation), Iraq (Iraq National Oil Company) and Abu Dhabi (Abu Dhabi National Oil Company).
Working with a qualified language solutions provider with expertise both in Arabic and in the oil and gas industry is essential when embarking on deals and opening operations in the Middle East. Much of the material that will need to be translated for the oil and gas industry will be highly technical whether it is an annual report, QHSE report or technical glossaries covering subjects like equipment, transportation and storage, flow metering, pipelines, exploration, drilling and processing.
There are many types of materials that may need translation such as tender documents, performance data, equipment manuals, environmental impact assessments and technical specifications. Working with translation services experts such as Merrill Brink will help an organisation to proceed more smoothly and with all relevant material translated for buyers, sellers and the end target audience.
About Merrill Brink International
Merrill Brink International (http://www.merrillbrink.com) is a leading provider of complete translation and language solutions for global companies and law firms, with special expertise in serving the legal, financial, life sciences, software, heavy machinery and corporate markets. A proven leader with more than 30 years of experience, Merrill Brink offers a wide range of language solutions including translation, localisation, desktop publishing and globalisation services.
Merrill Brink is recognised in the industry for its commitment to quality and its pioneering approach of leveraging technology to reduce costs, eliminate redundant processes and accelerate translation life cycles. Merrill Brink is certified to ISO 9001:2008; ISO 27001:2005 and ISO 13485:2003, and registered to EN 15038:2006 and ISO 14971:2007. Together, these standards provide assurance that the most stringent process and quality standards for translation are followed. Merrill Brink International is a wholly owned subsidiary of Merrill Corporation.
For more information, please contact Merrill Brink at email@example.com or in Europe, call 353-(0)91-393000 or in the U.S., call 800-688-4400; Web: http://www.merrillbrink.com
For full text: http://www.merrillbrink.com/role-of-arabic-translation-in-the-oil-and-gas-industry-07092012.htm
For more news releases: http://www.merrillbrink.com/news-and-events.htm
Follow us on Twitter: @merrillbrink