Despite the continued depressed oil price, sentiment among visitors and exhibitors at the ADIPEC conference in early November was distinctly positive.
Riley Smith and Piers Johnson from OPC were among the 100,000 visitors to the 19th ADIPEC (Abu Dhabi International Petroleum Exhibition and Conference) from 7th to 10th November and met with operating companies planning projects for 2017.
Riley said “ADIPEC provides a unique opportunity for us to meet with all the major E&P players across the Middle East and further abroad. This year the general consensus was that 2017 will be a much better year than 2016. There is a sense of enthusiasm about the industry and from all accounts the budgets for next year are already preparing to bring online new projects and activities”
OPC’s partner in Abu Dhabi, AlMansoori Specialized Engineering, had a major presence at the exhibition and supported Piers and Riley with several meetings with new contacts in the region.
Piers said “This was the busiest and most interesting ADIPEC that I have attended. It was very useful to spend time with the management from AlMansoori and we have identified several projects that we hope to be able to support during 2017.”
Riley added “Given the current market conditions, operators are looking for partners that can provide flexible, low risk and cost effective services. This is excellent news for OPC as our model of a core engineering team supported by specialist consultants is particularly competitive at present. We are able to deliver projects at day rates that are approximately 30% lower than three years ago due to the current market conditions and flexibility of our consultants.”
This message was clear from the keynote address provided by Rex W. Tillerson, Chairman and CEO of Exxon Mobil Corporation, said: “The theme of this year’s conference, ‘Strategies for the New Energy Landscape’ is appropriately timed given the challenges, opportunities, and expansion we’re experiencing today. Operators are now required to improve their cost structures and be very disciplined in their investment choices.”
The 19th annual ADIPEC in 2016 was the largest event to date, bringing together more than 2,000 exhibiting companies, 25 country pavilions, 850 speakers, 8,500 delegates, and 100,000 attendees from more than 125 countries.
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