SCOTT, La., Oct. 12, 2011 (GLOBE NEWSWIRE) -- ESP Resources, Inc. (OTCBB:ESPI) (the "Company" or "ESP Resources"), an oil and gas services company offering analytical services and essential custom-blended oil and gas well chemicals which improve production yields and overall efficiencies, announced that, through a new wholly-owned subsidiary, it has established a locally-domiciled office in The Gold & Diamond Park Building in Dubai, United Arab Emirates. The Gold & Diamond Park has completed a major expansion to its grounds to include over 120 manufacturing blocks and commercial space for well over 200 offices.
The new office and subsidiary, ESP Marketing Group, LLC, will serve as the Company's hub for the operation for the petrochemical products and services through its existing distributor, BPT Americas, LLC ("BPT"), for the Middle East, including Northern Africa and Russia. The new location will enable the Company to focus initially on its existing petrochemical products and services business, but will also serve to facilitate new developing business with other multi-national oil & gas companies operating out of those regions. The Company's International Technical Director, Gerard Primeaux, will be leading the operation. Mr. Primeaux will be responsible for growing the Company's existing business opportunities through BPT, as well as developing new oil & gas services opportunities that are currently being discussed with certain multi-national companies.
The Middle Eastern oilfield chemicals market was estimated to be worth $1.9bn in 2010, which will increase to $2.2bn in 2015 and $2.7bn in 2020. The main drivers for this growth are (1) high investment in key oilfields, (2) Chinese investment in certain Middle Eastern sectors and (3) continued production and enhanced oil recovery techniques from Saudi oilfields.*
"A physical presence in the MENA region is a key component of our international expansion strategy," explained ESP Resources' CEO David Dugas. "Dubai represents one of the world's preeminent areas in our industry and a local presence there serves to enhance the scale, flexibility and access we need to capitalize on the numerous opportunities that are under way for the company in that market."
About www.espchem.com/">ESP Resources, Inc.:
ESP Resources, Inc. is a publicly-traded (OTCBB:ESPI) oil and gas services company offering analytical services and essential custom-blended oil and gas well chemicals which improve production yields and overall efficiencies. Through its wholly owned subsidiary, ESP Petrochemicals, Inc., the Company distributes its product line throughout the oil and gas producing regions of Louisiana, Texas, Mississippi, Alabama, Arkansas and Oklahoma. The Company also distributes internationally though oil and gas service companies in other prolific oil and gas well regions throughout the world. The Company's senior management has over 100 years of combined operating experience in the petrochemical industry. More information is available on the Company's Website at www.espchem.com.
Legal Notice Regarding Forward-Looking Statements:
This press release contains "forward looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Forward looking statements are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information concerning oil or natural gas reserve estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. It is important to note that actual outcomes and actual results could differ materially from those in such forward-looking statements.
Readers are cautioned not to place undue reliance on the forward-looking statements made in this press release. In evaluating these statements, you should consider the risks discussed, from time to time, in the reports we file with the U.S. Securities & Exchange Commission. For a discussion of some of the risks and important factors that could affect the Company's future results and financial condition, see the Company's Form 10-Ks and 10-Qs on file with the U.S. Securities & Exchange Commission.
*Source: Visiongain 2010