UAE Welcomes Malaysian Companies to Boost Oil & Gas Sector
WEDNESDAY, November 26, Kuala Lumpur: United Arab Emirates (UAE) is increasingly turning to her Asian partners in quest to boost her oil and gas production. The nation continues to allow more foreign partners into its marginal fields especially when Asian energy companies were regularly mentioned as their priorities. The recent Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2014 is a strong embodiment of this notion.
ADIPEC took place on November 10 till 13, 2014 at Abu Dhabi National Exhibition Centre (ADNEC) and received participation of 15 Malaysian oil and gas companies. These companies were Akhtiar Jaya Sdn Bhd, Budiman Inspection Sdn Bhd, Diamond Consolidators (M) Sdn Bhd, Eralab Sdn Bhd, Innopeak (M) Sdn Bhd, Malko Flanges & Fittings Sdn Bhd, Muhibbah Engineering (M) Bhd, Mudrock Sdn Bhd, Oilfield Technical Inspection Sdn Bhd, Petrohorizon Sdn Bhd, Proeight Engineering Sdn Bhd, Romstar Sdn Bhd, Solar Alert Sdn Bhd, Solidblend Fittings and Flanges Sdn Bhd and Vista Valley Sdn Bhd.
The event was organised at a strategic location given that Abu Dhabi accounts for 94 per cent of UAE’s oil production. As the largest oil and gas event in the Middle East, ADIPEC is perceived as a good platform for Malaysian players to promote their products and services as well as expertise to the Middle East, Africa and Asia’s sub-continent.
The outcomes from this four-day exhibition were positive as the companies had managed to generate sales worth RM1.49 billion. Among the products and services negotiated with International clients at the event included supply and rental of vessel, supply of professional for oil and gas training and manpower, manufacture and supply of Christmas tree (means assembly of valves) and wellhead, supply of supervisory control and data acquisition (SCADA) system, supply of drill pipe, flanges and fittings, security and safety services, non-destructive testing and maintenance, lab study especially for high volume temperature (HVT), waste heat recovery unit (WHRU) and intelligent pigging and its maintenance.
A representative from Solar Alert Sdn Bhd stated, “ADIPEC 2014 was an ideal platform for Malaysian oil and gas companies to expose themselves to the UAE market and to find suitable agent for their products. Even though the exhibition was big in scale, the coordination by MATRADE helped Malaysian companies to be located at a strategic location.â€
Another participant, Petrohorizon Sdn Bhd through its Managing Director, shared that they have received a lot of enquiries and interests from the Middle East buyers on their vessels and decommissioning works and they have also identified a few companies to be their potential agents.
ADIPEC 2014 attracted more than 1,800 exhibitors from UAE and 20 international country pavilions, with a total exhibition area spanning over 100,000 square metres. Among the major oil and gas companies at the event include Abu Dhabi National Oil Company (ADNOC), Abu Dhabi Marine Operating Company (ADMA-OPCO), Dubai Petroleum Company (DPC) and Dubai Natural Gas Company (DUGAS).
MATRADE as the national trade promotion agency will continue to promote Malaysia’s oil and gas sector to the world market and provide a platform for export-ready SME companies to tap on the sector’s prospects. Moving forward, MATRADE strongly supports ADIPEC and believes it is a good platform for Malaysian companies to venture into the Middle East market.
Oil reserves in UAE are estimated to be 97.8 billion barrels in 2014 - nearly 10 per cent of the world’s total reserves. This highlights the true potential of UAE’s oil and gas sector, waiting to be tapped by Malaysian businesses.
