- 25 NOV
ADIPEC 2014 generates $8.5b in business
Abu Dhabi: An estimated $8.5 billion (Dh31.2 billion) worth of business was generated during the 17th edition of the Abu Dhabi International Petroleum Exhibition and Conference (Adipec), breaking all its previous records, according to preliminary figures revealed today by the organisers of the landmark energy event.
Christopher Hudson, Senior Vice President, Energy at dmg events, said the success of Adipec 2014 and the participation of all key stakeholders have cemented the event as a global knowledge-sharing hub in the region. "Valuable insights were shared and important decisions were made during this year's edition that will undoubtedly lead to positive changes in the energy sector."
Posting a 70 per cent growth in generated business compared to last year’s value of $5 billion, Adipec 2014 has also broken its previous records in international attendance and participation.
According to figures, more than 70,000 visitors attended the event this year, an increase of more than one-third compared to 2014. It also brought in1,868 exhibitors, 6,323 delegates, and in excess of 600 speakers to address the most critical issues surrounding the ever-growing global energy demand.
Abdullah Nasser Al Suwaidi, Director General of Adnoc (Abu Dhabi National Oil Company), said: "It is through such initiatives that we are able to bring the best and brightest minds to share the most sophisticated technologies, latest research, and expertise. This dissemination of knowledge plays a pivotal role in the development and progress of the energy sector.
This year's edition of Adipec hosted 16 National Oil Companies and 17 International Oil Companies, with 20 international pavilions including major market players US, China, and Canada, and emerging markets Indonesia and India.
Topics like the drop in oil prices, shale gas production in the US, concessions for oil companies in the UAE and the progress of oil projects were discussed during the four day event.