The 12th edition of the Middle East’s largest petroleum industry event, the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2006) got underway at the Abu Dhabi National Exhibition Centre (ADNEC) in the UAE capital today (Sunday, November 5, 2006).
Organised by dmg world media, one of the region’s leading event organisers, ADIPEC 2006 has assembled more than 1,200 exhibitors from 54 countries under the theme, ‘Meeting the Increasing Oil and Gas Demand through Innovation.’
Rapid economic growth and development, particularly in Asia, has driven up global demand for oil. As per US Energy Information Agency projections, world demand for oil is expected to increase by 54 per cent in the first quarter of the 21st century. To meet this demand, the world’s oil-producing countries will need to pump an additional 44 million barrels each and every day by 2025.
This necessitates increased investments into drilling, production and refining capacities on one hand and into research and development of cost-effective and alternative technologies on the other. The Middle East, which accounts for nearly 62 per cent of the world’s proven oil reserves and boasts of some of the world’s largest gas reserves, is currently seeing billions of dollars being pumped into increased production, product innovations, maintenance and research. ADIPEC 2006 takes place in the midst of this intense activity.
Simon Horgan, CEO of ADNEC said: “ADIPEC 2006 is an important event not only for the petroleum industry but also for the economy of Abu Dhabi. The show is internationally recognised as one of the most important petroleum industry events. The fact that ADNEC plays host to such a prestigious exhibition underscores both the venue’s and the emirate’s stature as the perfect destination for large-scale international trade shows.”
Through talks and discussions spread over four days, ADIPEC 2006 will explore crucial issues of environment, geo-science integration, oil and gas development cycles, drilling improvements and advances in petroleum technology. Besides, the event exposes the region to state-of-the-art technologies, innovative products and services in the oil and gas sector.
This year’s event will be the last ADIPEC show taking place at ADNEC’s existing exhibition facilities. Forthcoming editions of ADIPEC will be held at ADNEC’s state-of-the-art new exhibition centre, the first phase of which is due to open in January 2007.
“The new Exhibition Centre will be the perfect venue for large-scale international exhibitions such as ADIPEC; it will allow such events the opportunity to expand in the future.” Horgan added.
ADNEC’s ultra-modern exhibition centre will feature 57,000 square metres of hall space, a 21,000 square metre concourse as well as conference and banqueting facilities for 1,200 people. The Exhibition Centre is the economic driver the AED 8 billion Capital Centre development being built by ADNEC in the UAE capital.
The highlights of Capital Centre include: the redevelopment of the historic Grandstand which, for many years, was used by His Highness Sheikh Zayed Bin Sultan Al Nahyan, the late President of the UAE, to view parades and other key celebrations; a Micro City which will house a mix of hotel and residential accommodation as well as office and retail opportunities; The Galleria which will be an enclosed multi-storey air conditioned retail space; The Marina which will be the future home of super-yachts, marine exhibitions and floating hotels; and The Feature Tower, the design of which is futuristic and gravity defying - the tower will be one of the key visual icons of Capital Centre.
This premier district, Capitalising on Abu Dhabi’s welcoming and service-oriented culture will serve as a strong driver for the domestic Meetings, Incentives, Conferences and Exhibitions sector and as a catalyst to the emirate’s future economic growth.