Companies must not compromise critical industry assets in their endeavour to reduce costs, said experts at the Abu Dhabi International Petroleum Exhibition and Conference (Adipec) Offshore and Marine Conference.

Experts also emphasised during Adipec’s inaugural conference that companies and contractors who choose to cut health, safety, and environment (HSE) funds risk suffering serious consequences and even greater cost implications, said a statement.

Ibrahim Fahmy, marine advisor at the Zakum Development Company (Zadco) and chairman of the Adipec 2015 Offshore and Marine Conference, urged that companies maintain their important assets and not compromise health and safety procedures, as “safety should always come first”.

In addition, oil and gas stakeholders in the offshore and marine sector should have a strategy to managing their business and ensure that these assets are operated by professionals with the right expertise.

Retaining highly qualified staff through continuous education and training programmes is essential for the progress of the industry, and for a company’s long-term development, explained Fahmy.

He said: “Organisations should continue to develop social and educational programmes, which feed the industry with qualified people who form the backbone of the industry’s success.”

“With a rebound in oil prices expected, now is the right time to invest. In the last couple of months there have been a number of major projects that have been announced in the region, confirming the need for major oil companies to make the right investments towards securing market demand,” he added.

Taking place in a dedicated waterfront theatre at Adipec’s new Offshore, Marine and Heavy Equipment Zone, more than 40 industry leaders from the UAE and around the world offered a global outlook on maritime security and safety, added the statement.

Khamis Juma Buamim, chairman of the Dubai Council for Marine and Maritime Industries (DCMMI), gave insights on the fundamentals to building national, regional, and global strength in offshore oil and gas, it said.

Conference speakers also included Omar Abu Omar, chief operating officer (COO) of Tasneef; Hamad Al Maghrabi, general manager- Marine Services at the Abu Dhabi Ports Company (ADPC); Captain Saif Al Hebsi, senior vice president of the Abu Dhabi offshore services company ESNAAD; as well as Steve Kelly, president and general Manager of Occidental Petroleum Qatar, Jean-Baptiste Faget, assets general manager for Total EP UAE; Christopher Bush, vice president – offshore at Technip; Joe Brincat, vice president - Middle East Region at the American Bureau of Shipping; and Nagi Alyami, marine manager at Qatar Petroleum. – TradeArabia News Service