ADIPEC 2015: The Toast of the Industry
The Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC) hosted nearly 90,000 visitors, saw billions of dollars worth of deals done, and provided an opportunity for collaboration in the industry.
The event hosted a variety of attendees from the oil and gas value chain who came together to do business and share the newest services and technologies.
“Based on our early survey results and compared with last year, the total amount of deals signed at this year’s event will be more than $9bn, and in our experience that does not reflect the biggest deals,” said Chris Hudson, the head of energy events at DMG Events, which runs the conference and exhibition. This is a jump from last year’s figure of US$8 billion, according to a survey of participants by the petroleum conference’s organizers. Although not a precise tally of deal values, the survey is an indication of the resilient state of the oil industry in the region in spite of the drop in oil prices over the past year.
The United Arab Emirate’s Minister of Energy, HE Faraj al Mazrouei, who attended and participated in various roundtable events, has described ADIPEC as “a sign of optimism.”
In an interview, chairman of ADIPEC, HE Ali Khalifa Al Shamsi talked up its ethos of “collaborating and not competing” with similar conferences around the globe.
This year’s event is a testament to the resilient nature of the industry and how such an event, despite low oil prices can help spark conversations and create solutions. Although ADIPEC does not fix problems, the Chairman said, it “offers solutions and connectivity for companies to communicate and bridge together”.
Photo courtesy of: Maryam Niakouei
Article by: Angelo Basurto