Seasif Holding makes strategic partnerships to produce bitumen

Seasif Holding, the multinational group of companies headquartered in Dubai, recently expanded its already large presence in the oil industry by collaborating with New International Bitumen Production.

Seasif’s various holdings span numerous industries, including both upstream and downstream oil and gas production, financial and insurance services, consulting, construction, engineering, real estate, raw materials, alternative energy, and IT.

By partnering with New International Bitumen Production, Seasif aims to supply the market’s need for a constant supply and stable quality of bitumen.

Bitumen, the viscous black mixture of hydrocarbons, can be naturally occurring or come as a residue from petroleum distillation. It is an important substance for the economy as it is used for various industrial purposes from road surfacing to roofing.

A Seasif executive said the collaboration with New International Bitumen Production ensures 400 million barrels of bitumen production a year.

That amount is “sufficient to fuel economies of several countries in the region,” the executive said. “Guaranteed and tested by the leading competent organizations, the bitumen we source will meet international quality standards.”

In order to sell the bitumen, Seasif Petroleum also has entered into important trade agreements with major dealers on the international bitumen market. The move is intended to facilitate export of the products into different countries with all the necessary certifications. Seasif leaders hope that will provide substantial financial benefit to the company and enable it to broaden its clientele.