The current challenging economic landscape and ongoing pandemic situation has clearly not affected the Malaysian oil & gas (O&G) companies’ interest to pursue export opportunities in the Middle East, North Africa (MENA) region.
This is reflected by the fact that 16 Malaysian O&G companies have confirmed their participation under the Malaysia pavilion in Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC) 2021 trade fair. The Malaysian pavilion is organised by Malaysia External Trade Development Corporation (MATRADE). ADIPEC 2021 will be held from November 15 to 18 in United Arab Emirates (UAE) and predominantly attracts trade visitors from the MENA region.
The Malaysian exhibitors are keen to access the O&G sector in the MENA region. UAE is the top 10 global crude oil producers. The O&G output contributed to 30 percent of the gross domestic products (GDP). The country is also the seventh largest natural gas reserves globally. As such, UAE offers opportunity in its O&G industry and encourage foreign investment in the sector.
The Malaysian exhibitors at ADIPEC 2021 among others offering services such as fabrication of oil & gas process equipment, engineering services, mechanical services, engineering solutions, explosion protection (Ex) compliance services, Health, Safety and Environment (HSE) solutions as well as, pipeline inspection and cleaning services.
Exports of petroleum products between Malaysia and UAE in 2020 recorded an increase of 25 percent to RM499.2 million compared with RM373.0 million in 2019.
