The offshore and marine industry is expected to see increased business at this year’s ADIPEC, with analysts predicting modest increases in spending for maintenance and production in the oil sector, and significant investment expected for new offshore natural gas projects in the eastern Mediterranean.
Analysis by consultancy Douglas-Westwood has found that although investment in new offshore production remains low, the outlook for maintenance, modifications, and operations, is “notably more positive”. Much of the rebound is caused by work orders that have been delayed coming back online. Wood Mackenzie predicts renewed exploration and production for deepwater projects, with efficiency improvements having lowered the breakeven price by 20% in the past three years.
Considering the robust position of the offshore oil and gas sector in the region, and the encouraging growth prospects for the segment, Abu Dhabi-based regional EPC contractor, the National Petroleum Construction Company (NPCC) is participating at ADIPEC this year. NPCC, which claimed the number five spot in Oil & Gas Middle East’s Top 30 EPC Contractors 2017 ranking, will not just be exhibiting in the main show area in Hall 6 of ADNEC, but will also be showcasing its survey and diving portfolio in the offshore sector in hall 14.
“We are seeing some optimism in the market from NOCs in the region. EPC companies like NPCC, which has the largest oil and gas construction fleet in the MENA (Middle East and North Africa) region, are ready to meet this demand,” NPCC’s MD and CEO, Aqeel A Madhi, said.
“ADIPEC is an important industry event, which has grown to be amongst the largest oil and gas events in the world. It is a great platform for NPCC to showcase its projects and capabilities to current and prospective customers,” Madhi said.
“We are the gold sponsors, are part of the conferences, and exhibit during the show. We also sponsor the ADIPEC takeaway bags.”
While NPCC has been delivering offshore projects for its customers for decades, it has strengthened its market position due to its recent successes in Saudi Arabia. The company has won key contracts as part of its long-term agreement with Saudi Aramco, included in which are orders to supply four offshore platforms and associated submarine pipelines, cables, and tie-ins for Aramco’s Al Safaniya, Zuluf, and Berri offshore oilfields in the kingdom.
