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An Offshore and Marine conference in session at a previous edition of Adipec

An Offshore and Marine conference in session at a previous edition of Adipec

Adipec sees big boost for Offshore and Marine

ABU DHABI:

The Offshore and Marine industry is expected to see increased business at this year’s Abu Dhabi International Petroleum Exhibition and Conference (Adipec), with analysts predicting modest increases in spending for maintenance and production in the oil sector, and significant investment expected for new offshore natural gas projects in the Eastern Mediterranean.

Analysis by consultancy Douglas-Westwood has found that, although investment in new offshore production remains low, compared with pre-2014 levels, the outlook for maintenance, modifications and operations is ‘notably more positive’. Much of the rebound is caused by work orders that have been delayed, coming back online.

Within the GCC area, 2017 has seen Saudi Aramco sign agreements with Abu Dhabi-based National Petroleum Construction Company (NPCC) to purchase four offshore platforms and associated equipment, as well as a separate deal for the supply of 17 offshore jackets – the steel frames that support the platform.

Globally, consultants Wood Mackenzie are predicting renewed exploration and production for deep-water projects, with efficiency improvements having lowered the breakeven price by 20 per cent in the past three years.

"We are seeing renewed optimism among companies supporting offshore production, with demand underpinned by an industry that is now more efficient, stabilising prices, and the need to meet anticipated rising demand," said Ali Khalifa Al Shamsi, Al Yasat CEO and Adipec 2017 chairman.

"Adipec, which will run from November 13 to 16, supports this growth as a market where suppliers can network with purchasing decision makers and generate new business. Its comprehensive strategic and technical conference programmes provide an unrivalled opportunity for specialised knowledge exchange."

Natural gas is a significant contributor to the positive outlook, particularly in the Middle East and North Africa, where Egypt is seeing around $27.3 billion worth of investments across the Zohr, North Alexandria and Noras gas fields, and 76 new upstream exploration concessions have been signed worth around $1.5 billion. Cypriot and Lebanese waters also offer fresh opportunities for offshore exploration and production in the Eastern Mediterranean.

As investment moves into the sector, new projects will create business opportunities at Adipec’s unique Offshore and Marine area, which returns in 2017 for its third year.

Set directly on the waterfront, adjacent to the main Adipec venue, it is held in a dedicated purpose-built exhibition and conference space, with product displays encompassing the full value chain, from rigs, vessels, ship building, and subsea drilling equipment, to certification, pipelines, mooring, and tools for reservoir production and mapping.

The display’s defining feature will be the temporary quay, with a series of state-of-the-art offshore vessels berthed directly alongside the venue, including a jack-up barge, high-speed craft and landing craft, tugboats, and platform supply vessels up to 70 metres in length. Visitors will be able to tour the vessels on display, seeing the latest evolution in marine engineering and technology first-hand.




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