Wednesday 19 December 2018

Biggest non-Opec producers gear up for Abu Dhabi expo

ABU DHABI, October 17, 2017

Leading companies from the largest oil producing region outside Opec, the Commonwealth of Independent States, CIS, will be boosting their presence at this year’s Abu Dhabi International Petroleum Exhibition and Conference (Adipec) targeting the event as a hub for global deal-makers.

Two of Russia’s biggest oil and gas companies, Lukoil and Gazprom, have each confirmed substantial exhibition areas, with CEOs and other top-level decision makers leading their company delegations and taking part in strategic conference panels, reported state news agency Wam.

They will be the biggest names among more than 30 Russian companies attending, many of them hosted at a Russian pavilion covering almost 600 sq m of exhibition floor space, almost six times the size of last year’s 105 sq m pavilion, stated the report.

They will be joined by resource owners from other CIS members, including Kazakhstan, Uzbekistan and Azerbaijan, as well as by oilfield services companies from the region.

Based in countries that were once part of the Soviet Union, they will be using Adipec as a gateway to international expansion, said the report.

"Russia is among the top 10 countries of the world in terms of oil reserves, and this has supported the growth of a highly sophisticated petroleum industry, from exploration and production, through to oilfield technology and services, transit, refining, distribution, and sales," remarked Lukoil President, Vagit Alekperov.

"Russian companies are now actively expanding their international operations, and Adipec offers them access to global partnerships, including for new resources, new markets, and new investment," he noted.

Alongside the big oil and gas producers, other well-known industry names attending the expo include SCADTech, Revalve, Intra, Transneft Diascan, OZNA, GazNefteMash, and PTPA. The Skolkovo innovation, science and technology cluster, based just outside Moscow, will also be an exhibitor.

Stretching from the edge of Europe into Central Asia and across Siberia into the Russian Far East, oil and gas projects in the CIS area have already attracted substantial investment from multinationals.

As the industry moves beyond resource extraction, local NOCs and private oil companies are using their assets to move deeper into midstream and downstream sectors, as well as expanding beyond their borders.

Russia’s three largest operators lead this transformation. Rosneft, Lukoil and Gazprom now hold exploration, production and processing operations across the CIS and beyond, from Latin America to the North Sea, and from Africa to India and Southeast Asia, said the Wam report.

They have made significant investments in the Mena region, including in Iraq, Egypt and Libya, and are negotiating for projects in other countries. Lukoil has expressed interest in Abu Dhabi’s offshore leases when these are extended from 2018, it stated.

"Adipec is an essential destination for global oil and gas companies, so it makes sense that the big companies from the CIS come here," remarked Ali Khalifa Al Shamsi, the CEO of Al Yasat and Adipec 2017 chairman.

"We are located at the heart of the world’s most important oil and gas suppliers, so the biggest international customers, service companies, and investors, all come to the expo, and they all bring their most senior people," noted Al Shamsi.

"We have a very strong presence from Asian markets, from India to China. Adipec is an opportunity to reach all of these of these markets and find new partners around the globe. Most importantly, the people who network at Adipec are the decision makers and they are here to do business," he added.

Tags: Opec | adipec | Abu Dhabi expo |

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