Dubai, October 2, 2007 — In recognition of the importance of the Middle East's government-owned oil companies, Deloitte Middle East will welcome two partners to the Arabian Gulf from the Deloitte global network. The leaders will join the existing oil and gas team currently serving the growing professional service demands of oil sector clients in the region and especially of the national oil companies (NOCs). Deloitte Middle East has for many years provided a wide range of services to both NOCs and international oil and gas companies active in the region.

"This leadership expansion is part of the Deloitte Middle East strategy to develop and deliver high-quality service to national energy companies in the region and around the world," explains Omar Fahoum, CEO of Deloitte Middle East.

Welcoming them to the region, Mr. Fahoum notes, "The oil and gas industry is undergoing radical changes in the roles played by its participants, who rank among the world's largest companies. NOCs, as the largest resource holders, are increasingly controlling oil and gas investments both domestically and internationally. Expanding the partner group in the region will help marshal the full range of professional capabilities available from the international network of Deloitte member firms to bring consulting, financial advisory, international tax and audit services to our oil sector clients."

David Traylor, Partner, Deloitte U.S. and global national oil company leader will work with Peter Newman, partner, Deloitte U.K. and Global Oil & Gas leader; Mr. Fahoum; the current Middle East team; and the global network of member firms currently serving oil and gas companies globally, to coordinate services to the NOC market. Mr. Traylor has relocated to the Gulf from Houston, where for over three decades he has provided consulting and risk services to the supermajor international oil companies (IOCs) as well as numerous NOCs in the Middle East and China.

Mr. Traylor said, "I am delighted to be here in the Gulf where our NOC clients have been keeping us increasingly busy over recent years. After traveling regularly to the region for several years to supervise specific projects, I am looking forward to working closely with my partners and colleagues around the Gulf in meeting the service needs of our oil sector clients."

Partner Paul Navratil, Deloitte Middle East, has relocated from Europe to lead Deloitte's Middle East energy consulting group. He has provided consulting services to major IOCs and NOCs, after having worked for several major global companies in the energy sector. Navratil, originally from Dhahran, adds, "The opportunity to return to the region where I was raised and serve the energy sector here is tremendous. I look forward to renewing many old friendships in the Kingdom of Saudi Arabia and elsewhere across the Arabian Gulf and especially in helping to expand Deloitte's leading energy advisory role in the region."

As one of the only professional services firms with global capabilities across the wide range of audit, tax, consulting and financial advisory services, Deloitte is uniquely positioned to meet the needs of NOCs. Chris Nicholson, partner, Deloitte U.S. and Deloitte Global Energy & Resources leader, adds, "This expansion in the region, supported by over 6,000 energy practitioners worldwide, offers the region's NOCs a wealth of industry-focused professionals who will prove an invaluable resource in addressing the range of challenges facing NOCs in the global marketplace." In support of this expansion, Deloitte Energy & Resources is holding its annual energy leadership team and partners' meeting in Dubai in early November.

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