16 MALAYSIAN O&G COMPANIES CONCLUDE DEALS WORTH RM447.13 MLN IN ABU DHABI TRADE FAIR

KUALA LUMPUR, Nov 26 -- The 16 Malaysian oil and gas (O&G) companies which participated in the concluded Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC) 2021 trade fair manage to conclude deals exceeding US$100 million despite the ongoing pandemic.

This is the seventh time that Malaysia External Trade Development Corporation (MATRADE) has organised a Malaysian Pavilion in ADIPEC, which is one of the largest O&G related trade fair in the world.

It was held from Nov 15-18, 2021.

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“Eight out of the 16 companies were participating for the first time in this trade fair. The companies were involved in a total of 302 business meetings included those pre-arranged by MATRADE which resulted in RM447.13 million (US$106.46 million) of export potential sales,” it said in a statement here today.

Three of the companies secured actual sales worth RM112.54 million (US$26.8 million) through new projects and partners in the Middle East North Africa (MENA) region.

According to S. Jai Shankar, director of O&G, Chemical and Energy at MATRADE, the buyers’ interest centred on many of the areas where Malaysian O&G companies have strength in such as fabrication of oil and gas process equipment, engineering services, mechanical services, engineering solutions, explosion protection compliance services, health, safety and environment (HSE) solutions as well as pipeline inspection and cleaning services.

The exhibition provided opportunities for buyers and sellers to meet, learn, network and discover new products, solutions and technologies from over 2,000 exhibiting companies, which includes over 51 national oil companies, international oil companies and Energy Industries Council as well as 26 international country pavilions, providing a world-class environment for trade across the industry’s full value chain.

As such MATRADE also organised meetings for the companies to meet national oil companies in the region such as Abu Dhabi National Oil Company (ADNOC), Bahrain Petroleum Company (BAPCO) and Saudi Arabian Oil Company (Saudi Aramco).

MATRADE also held meetings with strategic partners such as the African Energy Chamber. MATRADE will continue to support and encourage Malaysian O&G companies to expand their business activities not only in MENA region but also to other parts of the world.

-- BERNAMA