FRIDAY, NOVEMBER 10, 2017, KUALA LUMPUR: Malaysia External Trade Development Corporation (MATRADE) will be spearheading an initiative to promote Malaysian Oil & Gas capabilities in the Gulf Cooperation Council (GCC) countries and its neighbouring regions at the Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC) from 12 to 16 November 2017. The mission - executed through MATRADE’s signature programme, Export Acceleration Mission - will take place at Abu Dhabi National Exhibition Centre.
This year’s participation will mark MATRADE’s fourth involvement in the event where ten Malaysian companies are all set to present their high-quality and innovative products and services to over 100,000 trade professionals from 135 different countries. The Malaysian delegates at ADIPEC this year represent various oil & gas sectors, with many offering world-class capabilities in areas such as radiological services, laboratory services, fabrication of oil & gas process equipment, engineering services, engineering solutions, containerised solutions, engineering, procurement, construction and commissioning (EPCC) as well as feasibility and conceptual studies. Others include environmental consultations, pipeline inspection and cleaning services, supply of construction steel materials for oil & gas sector and intelligent drilling tools. Last year, Malaysian companies at ADIPEC had a successful showing, raking in total sales valued at RM397.32 million.
Apart from taking part in ADIPEC’s exhibition component, the Malaysian companies will also be meeting potential buyers through pre-arranged business meetings organised by MATRADE. According to MATRADE’s Director of Oil, Gas, Chemicals and Energy Director Mr Kua Kiat Chye, the business matching platform serves as an effective channel for Malaysian companies to connect directly with international businesses in exploring untapped trade opportunities in the Middle East, its neighbouring areas and Europe too.
“MATRADE has more than two decades of experience in coordinating effective business matching sessions for Malaysian business and foreign buyers. For the past four years, we have seen the impact of ADIPEC to our local companies as many of them were able to secure business deals, thanks to the thorough coordination by MATRADE,” he said.
One of the mission’s highlights this year is the opportunity for MASTEK Oil Tools, one of the Malaysian companies participating in ADIPEC, to present a paper on their innovative product at a technical talk session titled “Production Facilities Technologies – Maximising Asset Integrity through Innovation”. The company was handpicked by the ADIPEC’s organiser, Society of Petroleum Engineers.
Moving forward, MATRADE aims to continue promoting, advancing and improving market access for Malaysian oil & gas companies to key markets like the GCC, despite the current challenging economic landscape. The agency, under Ministry of International Trade and Industry, has identified a potential growth within the GCC region. Last year, The United Arab Emirates (UAE) through Abu Dhabi National Oil Company (ADNOC) unveiled its 2030 Strategy and Five Year Business Plan. The strategy targets to increase crude oil production capacity to 3.5 million bpd by 2018, in addition to growing petrochemicals production to 11.4 mtpa by 2025. Recently, ADNOC announced its latest phase of transformation to move towards a more commercially focused and performance-driven entity, consolidating its existing subsidiaries and joint ventures under the unified ADNOC brand.
“This will create a lot of new business opportunities for Malaysian companies and local players must be strategic in their approach to remain relevant and ahead of the game,” Kua said.