By NUR HAZIQAH A MALEK / Pic By TMR
A Total of 17 local oil and gas (O&G) companies will be participating in the largest O&G exhibition called the Abu Dhabi International Petroleum Exhibition and Conference (Adipec) 2018.
Delegation lead company Malaysia External Trade Development Corp (Matrade) chemical and energy section O&G deputy director Wan Azhamuddin Jusoh said the country’s presence in the exhibition is timely as three of the seven emirates have launched licensing rounds in 2018.
“These prospects for exploration are improving markedly, as the emirates look to garner increased foreign and private participation in the sector.
“The Abu Dhabi National Oil Co (ADNOC), for example, will significantly expand its refining and petrochemical operations at Ruwais, giving our local players a chance to offer their products and services to ADNOC,” he said.
Currently, the Middle East produces 30% of the world’s O&G with countries such as Saudi Arabia, the United Arab Emirates (UAE) and Iran listed as the world’s top 10 oil-producing countries.
According to Matrade, there is an abundance of opportunities for Malaysian companies to supply their products and services.
“This includes radiation management and consultancy services; specialist engineering of well integrity and rehabilitation; design and manufacture of waste heat recovery units; O&G upstream exploration and production consultancy services; and stockists and traders of pipes, fittings, flanges, valves and other components to the Middle East,” it said.
The agency added that it has identified Africa as another key market for Malaysian companies as the region is currently experiencing rapid growth.
“This is thanks to the development of the region’s new hydrocarbon provinces,” it said.
Wan Azhamuddin said the agency is confident Adipec 2018 will make one of the ideal platforms for the O&G sector to venture overseas.
Last year, the mission to the exhibition registered RM206.26 million of export sales.
The export of petroleum products to the UAE last year totalled RM245.69 million, which made up 2.1% of total exports to the country.
The main exports of petroleum products from Malaysia comprised light petroleum distillates, petroleum spirit for motor vehicles and oils, and other products of the distillation of high-temperature coal tar.
Meanwhile, the first nine months of 2018 posted a total value of petroleum product exports at RM724.51 million.
Adipec 2018 began yesterday and will be held until Thursday this week.