THURSDAY, NOVEMBER 11, 2021 KUALA LUMPUR: The current challenging economic landscape and ongoing pandemic situation has clearly not affected the Malaysian oil & gas (O&G) companies’ interest to pursue export opportunity in the Middle East, North Africa (MENA) region.
This is reflected by the fact that 16 Malaysian O&G companies has confirmed their participation under the Malaysia pavilion in Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC) 2021 trade fair. The Malaysian pavilion is organised by Malaysia External Trade Development Corporation (MATRADE). ADIPEC 2021 will be held from 15 to 18 November 2021 in United Arab Emirates (UAE) and predominantly attracts trade visitors from the MENA region.
The Malaysian exhibitors are keen to access the O&G sector in the MENA region. UAE is the top 10 global crude oil producers. The O&G output contributed to 30 percent of the gross domestic products (GDP). The country is also the seventh largest natural gas reserves globally. As such, UAE offer opportunity in its O&G industry and encourage foreign investment in the sector.
The Malaysian exhibitors at ADIPEC 2021 among others offering services such as fabrication of oil & gas process equipment, engineering services, mechanical services, engineering solutions, explosion protection (Ex) compliance services, Health, Safety and Environment (HSE) solutions as well as, pipeline inspection and cleaning services.
This will be the seventh time that MATRADE will be organising the Malaysia Pavilion at ADIPEC. “We hope that ADIPEC 2021 will continue to be an effective platform to generate new business opportunities and networking for us. Malaysian companies are also keen to explore opportunities in the renewable sector.” said Mr S. Jai Shankar, Director of Oil & Gas, Chemical and Energy Section who will be heading the delegation from MATRADE.
Furthermore, he indicated that Malaysian companies intend to leverage on ADIPEC 2021 to gain insights on the latest developments and technologies available in the market either in upstream, middle-stream and downstream of the oil and gas industry to ensure they remain relevant in the global stage.
Exports of petroleum products between Malaysia and UAE in 2020 recorded an increase of 25 per cent to RM499.2 million compared with RM373.0 million in 2019.
MATRADE aims to continue promoting and deepening market access for Malaysian O&G companies to key markets in the Gulf Cooperation Council (GCC). This is because Malaysian O&G companies have always had strong international orientation and the MENA region has been especially and important area of interest.
MATRADE is prepared to organise customised pre-arranged business meetings for the exhibitors with potential buyers. Apart from the buyers from MENA, Malaysian companies are also keen to reach out to potential partners from China, Canada, South Korea, Russia, Italy and France who participate in ADIPEC regularly.
MATRADE’s participation in ADIPEC 2021 is in line with the National Oil & Gas Services and Equipment (OGSE) Industry Blueprint which aims to strengthen the country’s export in the O&G sector.