Matrade leads Malaysian companies to Abu Dhabi Expo

KUALA LUMPUR: The Malaysia External Trade Development Corporation (Matrade) is leading the participation of Malaysian companies in the largest oil and gas (O&G) exhibition in the Middle East – Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2018, from November 12 to 15, to boost Malaysia’s presence in the region.

Deputy director, O&G, Chemical and Energy Section, Wan Azhamuddin Jusoh, said the country’s presence at the exhibition this year was important and timely as three of the seven emirates had launched licensing rounds in 2018 following reported substantial discoveries and prospective O&G resources, according to Fitch Solutions.

“These prospects for exploration are improving markedly, as the emirates look to garner increased foreign and private participation in the sector.

“The Abu Dhabi National Oil Company (ADNOC), for example, will significantly expand its refining and petrochemical operations at Ruwais (a town located in Abu Dhabi), giving our local players a chance to offer their products and services to ADNOC,” he said in a statement yesterday.

Apart from targeting the Middle East buyers at the event, Wan Azhamuddin said Malaysian companies also stood the chance to meet with high potential buyers from Africa.

He said Matrade had also identified Africa as another key market for Malaysian companies as the region is currently experiencing rapid growth, thanks to the development of new hydrocarbon provinces.

“As Malaysia’s trade promotion organisation, Matrade’s insights on the markets will enable Malaysian companies make strategic export plans and we are confident that ADIPEC will become one of the ideal platforms for them to venture overseas,” he said, adding the mission to ADIPEC last year recorded export sales of US$49.28 million (US$1=RM4.18). — Bernama