Malaysian Firms Generate Sales Worth US$445.31 Million At ADIPEC 2014

KUALA LUMPUR, Nov 27 (Bernama) -- The 15 Malaysian oil and gas companies that participated in the recent Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2014 in United Arab Emirates (UAE) have generated sales totalling US$445.31 million (RM1.49 billion). In a statement Wednesday, the Malaysia External Trade Development Corporation (Matrade) said the exhibition, held for four days from Nov 10, 2014, saw the UAE increasingly turning to its Asian partners in the quest to boost its oil and gas production. The products and services negotiated by the Malaysian companies with their respective clients at the event were supply and rental of vessels; supply of professionals for oil and gas training and manpower; manufacture, supply and assembly of valves for wellhead; and supply of supervisory control and data acquisition system. It also included the supply of drill pipes, flanges and fittings; security and safety services; non-destructive testing and maintenance; lab study for high volume temperature, waste heat recovery unit; and intelligent pigging and maintenance. ADIPEC, the largest oil and gas event in the Middle East, attracted more than 1,800 exhibitors including major companies such as Abu Dhabi National Oil Company, Abu Dhabi Marine Operating Company, Dubai Petroleum Company and Dubai Natural Gas Company. Matrade, the national trade promotion agency said the oil reserves in the UAE were estimated at 97.8 billion barrels in 2014 -- nearly 10 per cent of the world's total reserves. "This highlights the true potential of the oil and gas sector in the UAE, waiting to be tapped by Malaysian businesses," it said. (US$1 = RM3.34) --BERNAMA