Biggest non-OPEC oil producers look to Abu Dhabi for new business during ADIPEC 2017: Report
To be held under the theme ‘Forging Ties, Driving Growth', ADIPEC 2017 is expected to host more than 10,000 delegates, 2,200 exhibiting companies, 900 speakers, and in excess 100,000 visitors from 135 countries. ADIPEC will run at Abu Dhabi National Exhibition Centre from 13 to 16 November 2017.
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. They will be the biggest names among more than 30 Russian companies attending, many of them hosted at a Russian pavilion covering almost 600 square metres of exhibition floor space - almost six times the size of last year's 105 square metre pavilion, WAM reports.
"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," said 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."
Alongside the big oil and gas producers, other well-known industry names attending ADIPEC include SCADTech, Revalve (PKTBA in Russia), Intra, Transneft Diascan, OZNA, GazNefteMash, and PTPA. The Skolkovo innovation, science and technology cluster, based just outside Moscow will also be an exhibitor.
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.
"ADIPEC is an essential destination for global oil and gas companies, so it makes sense that the big companies from the CIS come here," said Ali Khalifa Al Shamsi, Al Yasat CEO 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 ADIPEC, and they all bring their most senior people. 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."
For companies from the CIS, partnerships to be found in Abu Dhabi can help drive the next evolution of their global business. While mainly driven by economic factors, diplomatic and political concerns are also motivating Russian businesses to look away from the United States or European Union. Cooperation with Asian partners, and with China in particular, is the most immediate priority.
China's ambitious ‘New Silk Road' project will improve trade links through Central Asia, with massive investment in new East-West land transport corridors passing through China, Mongolia, Russia, Kazakhstan, Uzbekistan, Turkmenistan, and Azerbaijan, as well as Iran, Pakistan, and Turkey. The plan aims to revive the importance of historic overland links between East Asia and Europe, while also improving cross-border trade and investment between countries along the route.