Over 150 oil and gas related companies from the United Kingdom met with Gulf energy companies in Abu Dhabi at an event where ADNOC unveiled its in-country value programme.
Over 150 oil and gas related companies from the United Kingdom met with Gulf energy companies in Abu Dhabi at an event where ADNOC unveiled its in-country value programme.
ADNOC In Country Value (ICV) Program Manager Ali Foolathi explained how the scheme, which is now mandatory for all ADNOC suppliers, aims to encourage partnerships between ADNOC, international product and service providers and the UAE supply chain.
At EIC Connect Oil, Gas & Beyond conference and exhibition, Foolathi also explained how ICV makes it easier for SMEs to work with ADNOC.
Other major Middle East operators and contractors who took part in EIC Connect Oil, Gas & Beyond included BP, Dragon Oil, Emirates Nuclear Energy Corporation, McDermott, Petrofac, SNC-Lavalin, TechnipFMC and Wood.
As well as providing updates on their projects during the briefing sessions, the participating operators and contractors also took part in over 100 private one-to-one meetings with the UK delegates to discuss their supplier requirements, procurement procedures and how they can work together on upcoming projects in the region.
“After three very difficult years, it was wonderful to seeing a buzz returning to the energy sector, and for the nearly 200 British suppliers that attended this flagship EIC Connect event, they are clearly well positioned to take advantage of the bow wave of projects currently being announced in the Middle East,” said EIC CEO Stuart Broadley said.
“We are seeing an equal split of upstream, midstream and downstream projects planned over the next six years globally, which is unusual, as well as continued investments in renewables and nuclear, all of which provides excellent opportunities for those UK businesses that are already well diversified across the energy space,” he added.
The event is designed to increase foreign investment in the Middle East energy sector through a day of conference sessions, briefings on regional oil and gas, power and renewables projects, private meetings and an exhibition.
Source: Pipeline ME
