GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >>

 
  Share
  • Saudi Arabia, Kuwait and UAE lead the way with strategic investments designed to maximize value and open up new revenue streams
  • ADIPEC 2019 will be catalyst for robust oil and gas industry growth as companies forge new partnerships and tap into the emerging commercial opportunities investments are creating

Abu Dhabi, UAE – 08 August 2019:  Oil, gas and petrochemical projects, valued at more than US $859 billion, are either underway or planned in the Middle East and North Africa, of these US $283 billion are projects are being implemented, as the region gets ready to meet the forecast increases in demand for energy over the next two decades.

 

According to industry forecasts global oil demand will increase by at least 10 million barrels per day by 2040, while natural gas demand is set to grow by 40 per cent and petrochemicals by 60 per cent. The expansion in demand for petroleum and petrochemicals in particular, says dmg, is driving downstream investment across the MENA region. 


Christopher Hudson, President – dmg::events, organisers of the Abu Dhabi International Petroleum Exhibition (ADIPEC), said: “Breakthrough technologies, the growing global population and rising consumer spending are all combining to create new demand for energy, much of which will continue to be met by the oil and gas industry up to and beyond 2040.


“While producers in the Middle East continue to maximize value from existing fields, there is heightened interest in developing new resources, both offshore and onshore, as well as investing in upgrading and diversifying both infrastructure and products downstream to create new products lines and revenue streams.


“ADIPEC 2019 will be a catalyst for future growth and prosperity in the oil and gas industry, not only providing companies across the hydrocarbons value chain with a forum to gather first-hand knowledge of the dynamic changes taking place in regional oil and gas investment decisions but also enabling them to make the connections necessary to forge new partnerships and tap into the emerging commercial opportunities those investments are creating,” Hudson added.
According to research conducted by MEED, the business intelligence and analytics specialist, Saudi Aramco is the largest single spender in the region's oil and gas sector, with more than US $31 billion-worth of contracts under execution.

The next three highest spenders are Kuwait's three largest oil and gas companies with a combined US $42.2 billion worth of projects underway. Meanwhile, MEED says, the Abu Dhabi National Oil Company has projects, with a combined contract value of US $16.7 billion under execution across both its onshore and offshore upstream businesses. Outside the GCC Iraq's State Company for Oil Project and Algeria's Sonatrach have US $13.7 billion-worth of projects in progress.


Leading the way in terms of pre execution contract values is Iraq's Ministry of Oil, with projects worth US $19.5 billion in the pipeline, US $13.7 billion of which is in the bidding phase, according to a list of top oil and gas projects under execution, compiled by MEED. Egypt's Ministry of Petroleum has plans for US 12.3 billion worth of projects; the Kuwait Oil Company has a US $12.3 billion project pipeline and Algeria's Sonatrach has announced plans to go ahead with US $10.8 billion-worth of projects, including a US $2.5 billion contract for the Hassi Messaoud refinery.


Away from the MENA region, Asia is forecast to see 130 new crude and natural gas projects starting operations over the next eight years, contributing around 518,000 barrels per day and close to 11.5 billion cubic feet per day of gas production. According to GlobalData, a leading data analytics and consulting company, 76 of the new developments fall under an early-stage category, while 54 of the new projects have progressed to well-defined development plans. India will lead the way 62 projects, followed by China with 20 and Indonesia with 19. Malaysia will drive natural gas production.
 
Taking place in November, ADIPEC 2019 will once again be a platform for the global oil and gas industry to engage in dialogue, conduct business, and source the creative solutions and strategies that will shape the industry in the years ahead as well as identify the commercial opportunities from the MENA and Asia regions.

In common with previous years, ADIPEC's conference and technical sessions continue to evolve to reflect the changes taking place in the energy sector. Oil & Gas 4.0, the strategic conference at ADIPEC 2019 will feature conference sessions that will explore the nexus of technology and energy. Other sessions will examine the agile business models and new partnership eco-systems that are at the core of the global energy conversation. 
 
Since its inauguration in 1984, ADIPEC has continued to grow, gaining worldwide recognition as the premier oil and gas industry exhibition and conference. The exhibition brings together over 2,200 international exhibiting companies across 155,000 gross square metres, with 29 country pavilions, attracting over 145,000 global attendees and 42 National and International Oil Companies. The conference hosts over 980 strategic and technical speakers across more than 160 sessions, covering the full energy value chain and attracting over 10,400 delegates.
 
Held under the patronage of His Highness Sheikh Khalifa Bin Zayed Al Nahyan, President of the UAE, hosted by the Abu Dhabi National Oil Company (ADNOC) and supported by the UAE Ministry of Energy, the Abu Dhabi Chamber, and the Abu Dhabi Tourism and Culture Authority, ADIPEC will take place from 11 to 14 November, at the Abu Dhabi National Exhibition Centre (ADNEC).
 

 



Posted by : GoDubai Editorial Team
Viewed 9449 times
Posted on : Thursday, August 8, 2019  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Region's Largest Gas & Oil Technology Showcase and Conference Back for 3rd Year
Next Story : ADNOC and Pertamina Sign Comprehensive Strategic Framework in Oil and Gas Development
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Get Festive Ready With Prestige Cosmetics Holiday Collection
Chlo's Iconic Carlina Sunglasses In a Precious New Interpretation
PACE to Space
Master Chronometer: Raising Standards
Holiday Hair-Styling Essentials from VIERRO
Luxe Beauty Gifts for your Loved Ones this Festive Season
Arabic version of Zoho Creator launched to help businesses create custom applications
Formula 1 meets Virgin Hyperloop One: California-based Developer to Showcase Pas...
Indulge in New flavours sprinkled With A Dash of Bollywood & Nostalgia at Hitchki
Life-changing Raffles Announced for 25th Edition of Dubai Shopping Festival
Union Coop Pays Tribute to the Martyrs on Commemoration Day'
'Tis the Season to Be Glamorous - Beauty Essentials from GlamBeaute.com!
Homegrown Jewellery Brand Sumaya Bakkar Collections Curated Festive Gift List
Cisco Advances Solutions to Simplify Cybersecurity Processes in Saudi Arabia
Berkan Steakhouse Launches in Dubai
Emirates Post issues commemorative stamps to celebrate the UAE 48th National Day
ENEC Releases 'Tasamoh' a Rehabilitated Green Turtle and organizes Beach Cleanu...
Robinsons celebrates UAE National Day with leading Emirati brands and a host of ...
Dunecrest American School Celebrates the UAE National Day
Your Holiday Gift Guide for Her
Zambian President affirms commitment to bolster UAE ties
China Homelife the Largest China Sourcing Platform Set to Showcase a Wide Variet...
Spice Up with Shades of Brown from 2XL Furniture & Home Dcor
Italy breaks ground for its Pavilion at Expo 2020 Dubai
LG Electronics Announces Leadership and Operational Changes Ahead of 2020
Dubai Cares' Volunteers bring hope to children in remote village in Senegal
Celebrate the 48th UAE National Day at Dalma Mall'
Pupils at Dubai Heights Academy mark 48th National Day with two days of traditio...
Arabian Automobiles INFINITI presents the apex in road safety with the QX50'
GROHE Goes ZERO Carbon-Neutral Production by 2020
du & National Archives offer nostalgic journey into UAE's past on 48th National Day
Dubai Festival City Mall Visitors In for A Jolly Festive Season Like No Other in...
Customs World inks MoU with Indonesia to roll out World Logistics Passport
Emotional and highly dynamic: the design of the MINI John Cooper Works GP.
The Middle East Organic Market's Premiere Business Event Opens In Dubai
New year, New You with Lunette
Cole Haan Makes Its Debut at Sole Dxb 2019 Showcasing Footwear Collaborations
Statement Cardigans
GROHE received the Red Dot: Brand of the Year
Uncovering the Beauty of Mechanics'
Sumo Sushi & Bento Celebrates UAE National Day With an Exclusive Bento Offer for...
Best Menswear Items
Ministry of Economy launches new development plan as part of the National Progra...
Annual DIAC Conference examines impact of UAE Arbitration Law
Set Up Stylish Outdoor Spaces with 2XL Furniture & Home Dcor
Free gold coins at Malabar Gold & Diamonds Festival.
Air Cargo Peak Season off to Slow Start, Annual Demand down 3.5% in October
Emiratis and expats set off to a two-week Camel Trek across the UAE desert
Lewis Hamilton Tops Off Sixth World Title With Victory at Formula 1 Etihad Airwa...