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Three key topics covered at ADIPEC 2015 in United Arab Emirates

BUSINESS IS STILL BOOMING

Continuing the positive atmosphere at the conference, ADIPEC organisers, DMG Events, calculated that US$9 billion worth of deals had been completed over the four days – up to $1 billion in 2014. The statistics, which reflect the success of both the industry and the conference, were also only said to be only early estimates. “Based on early survey results and compared with last year, the total amount of deals signed at this year’s events will be more than $9 billion, and in our experience that doesn’t reflect the biggest deals,” Head of Energy Events Chris Hudson explained.

While operators were said to be negotiating harder for products and services from the supply chain, the same companies were set to spend more money on their major strategy projects with industry specialists, according to The National.

SKILLS PIPELINE IS ESSENTIAL

A consistent issue within the oil and gas industry is the lack of talent in the skills pipeline, and this was highlighted again at ADIPEC 2015. To counteract the trend, the conference was home to various student initiatives designed to sustain and build the talent, especially in the United Arab Emirates.

The main initiative, ‘Young ADIPEC’, saw a 33% increase in student’s aged 14-17 taking part in events compared to last year. Special visits and competitions designed to encourage students to choose a career in the industry were arranged too. Speaking on the conference again, Head of Energy Events, Chris Hudson said, “Advancing the energy sector relies on recruiting professionals with the right skills mix, and this is more critical than ever in today’s evolving energy landscape”.

As part of the programme, students had the opportunity to gain hands-on experience in the industry in an attempt to grow the already impressive 17% of Emirati students who enrol on an engineering programme in their academic year.

12 MONTHS OF CHANGE

While the last 12 months have been a defining period in the global oil and gas industry, the same industry issues of ‘cost’, ‘business deals’ and ‘talent’ have remained the major talking points at ADIPEC – with ‘collaboration’ quickly becoming the new buzzword as the industry attempts to share and streamline.

The next 12 months are sure to bring further change as operators finalise their future strategies and decide whether to ‘stick or twist’ with their investment projects. ADIPEC typifies the ‘collaboration’ that is required to reform and reinvigorate the long term strategy of the industry – and many of the 90,000 attendees will hope that the positive feelings felt at the conference will find its way into the industry throughout the next 12 months.

Photo Credit: Wikimedia

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