Abu Dhabi to develop new offshore oil and gas fields

2,000 firms to exhibit new technologies at ADIPEC-2015

 5 November 2015

Abu Dhabi is looking to develop new off shore oil and gas fields, a top official said. The move is part of Abu Dhabi's plans to raise output to meet rising oil and gas demand, said, Ali Khalifa Al Shamsi, director of strategy and coordination at the Abu Dhabi National Oil Company, or Adnoc.

He said that Abu Dhabi is not affected by the oil prices at international markets. Abu Dhabi's current and future strategic projects cannot stop doing, as we can benefit from the current market prices. Abu Dhabi has proved that its approach of evaluating projects and implementing and executing them has been successful.

Speaking at the Adipec-2015 show, he said last year, there were doubts about the participations of the companies due to lower oil prices, but the successful show has removed all those fears, as Abu Dhabi has become a competitive business destination. Christopher Hudson, president - global energy, dmg events, organisers of Adipec, underlined the prominent role played by the event in shedding light on Abu Dhabi as a global hub for knowledge exchange. He said that the Adipec-2015 show is highly successful with a "good solid growth."

The organiser expected over 85,000 industry visitors to visit the show, the number of speakers, and companies and countries participating to show all show growth.

Shamsi said that the new data reflects the industry's resilience, raising the total number of companies serving the capital's oil and gas industry to a staggering 1,467.

Inspired by the UAE leadership's declaration of 2015 as the "Year of Innovation", the theme for Adipec this year is "Innovation and Sustainability in a New Energy World", bringing together the best and brightest minds, including ministers, senior-level industry executives, world renowned energy experts, and thought-leaders to shed light on the critical topics driving the transformation of the energy sector. The oil and gas event will host more than 2,000 exhibiting companies, 7,000 delegates, and 85,000 attendees from more than 120 countries, building on last year's remarkable success.

Fourteen national oil companies and 16 international firms have confirmed their participation including regional market players and global oil and gas giants. There would 600 speakers and 7,000 delegates from both technical and non-technical functions exploring regional and global views on impending industry topics.

Alia Al Yasi, director of the Government Communication Department at the UAE Ministry of Energy, said: "Adipec 2015 will have the distinguished presence of a number of energy ministers and senior officials."

"The event continues to reflect the growth of Abu Dhabi as one of the world's leading oil and gas producers," she said.

The UAE is seeking to increase its crude oil production capacity to help ensure global market stability and meet the demand for petroleum by-products, she said.

Presenting numbers reflecting the continuous growth of Abu Dhabi's oil and gas industry, Mohamed Helal Al Muhairi, director general of the Abu Dhabi Chamber, said through its unwavering commitment to achieving energy efficiency and sustainability, and its relentless efforts towards meeting the ever-growing global demand for energy, Adipec continues to effectively contribute and support the country's business sector.

"Adipec is a key event that drives new business opportunities in the oil and gas industry. Over the last 12 months, the Abu Dhabi Chamber has registered 144 new companies operating in the emirate's oil and gas industry, and this is partly driven by the value Adipec brings to the business community."