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UAE has ambitious plans to produce more oil

Author : Paul Gay

10 August 2010

The United Arab Emirates plans to increase its oil production capacity to 3.5 million barrels per day by 2018 from a current daily production level of 2.7 million barrels, according to the Abu Dhabi Department of Economic Development (DED). The report from DED also estimated the UAE’s proven oil reserves at 98.2 billion barrels, ranking the seventh largest in the world.

ADNEC Showground will host the 14th Adipec
ADNEC Showground will host the 14th Adipec

With more than two-thirds of the world’s oil reserves being centred on the GCC region and billions of dollars being invested for exploration, production, processing and infrastructure, the world is looking even more deeply at the region as international companies see the future of their supplies running low.

Abu Dhabi International Petroleum Exhibition and Conference (Adipec), now in its 14th year can quite rightly, claim to be the biggest event of its kind in the Middle East. This year’s event, which is being held in November, is expecting 1,500 exhibiting companies from 59 countries and 40,000 visitors and is likely to be the biggest in the series.

H.E. Mohamed Omar Abdullah, Undersecretary of the Department of Economic Development in Abu Dhabi, underscored the importance of Adipec 2010 to the region, particularly at this pertinent time in the growth of the UAE’s oil-rich capital: “Adipec reflects the interest of our wise leadership in the fields of Oil and Energy, to enhance the status of Abu Dhabi and the UAE as a major player in this field. Energy will continue to form a significant part of Abu Dhabi’s GDP well into the future, even as the economy diversifies.”

Exhibitors will showcase the latest in exploration and production, processing, refining, storage and transportation. The Adipec Conference features a record 1050 abstracts with 262 speakers from 33 different countries selected to participate in 37 technical sessions, three poster sessions, five panel sessions and an executive plenary session.

The show organiser has signed a memorandum of understanding with Abu Dhabi Tawteen Council (ADTC), a partnership that encourages greater Emiratisation and talent attraction in the energy sector. The partnership will see the creation of the first Adipec Graduate Fair, where UAE graduates will have access to a two-day networking event, running simultaneously with the main event. This fair will allow students to have direct access to key HR managers from leading national and international oil and gas companies, to provide employment opportunities and insights into energy careers and will include a series of presentations from industry leaders, as well as discussions on the challenges and rewards facing students within the sector to help attract top talent and greater awareness of the scope of career prospects and growth

The event will fill the 31,000 m2 space of the Abu Dhabi National Exhibition Centre from 1 to 4 November, 2010.

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