The offshore and marine industry is expected to see increased business opportunities at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), to be held from 13-16 November 2017, along with significant rise in investment for oil sector and new offshore natural gas projects in the Eastern Mediterranean
According to the analysts by Douglas-Westwood, although investment in new offshore production remains low, compared with pre-2014 levels, the outlook for maintenance, modifications and operations is notably more positive.
This has been fortified by new partnership deals for oil and gas explorations and maintenance in the GCC region. For example, in 2017, Saudi Arabia-based oil and gas company Saudi Aramco signed agreements with Abu Dhabi-based National Petroleum Construction Company (NPCC) to purchase four offshore platforms and associated equipment, as well as a separate deal for the supply of 17 offshore jackets.
“We are seeing renewed optimism among companies supporting offshore production, with demand underpinned by an industry that is now more efficient, stabilising prices and the need to meet anticipated rising demand,” said Ali Khalifa Al Shamsi, CEO of Al Yasat and chairman of ADIPEC 2017.
ADIPEC 2017 focuses on supporting this growth as a market where suppliers can network with decision makers to generate new business, he said.
With investment in natural gas recently rising at a significant pace, particularly in the Middle East and North Africa, new projects are expected to create more business opportunities at ADIPEC’s offshore and marine area, Al Shamsi noted.
The event will display products encompassing the full value chain, from rigs, vessels, ship building and subsea drilling equipment, to certification, pipelines, mooring and tools for reservoir production and mapping.
The display’s defining feature will be the temporary quay, with a series of state-of-the-art offshore vessels berthed directly alongside the venue, including a jack-up barge, high-speed craft and landing craft, tugboats and platform supply vessels up to 70m in length. The visitors will be able to tour the vessels on display, to see the latest evolution in marine engineering and technology.
The offshore and marine programme is expected to provide opportunities to hear from leading executives and experts in the field. In addition, there will also be a dedicated session on the Emirates Maritime Arbitration Centre (EMAC) and the processes available for resolving maritime legal disputes quickly and without unnecessary cost.