Adipec didn’t disappoint this year, in terms of both size and turnout. Despite the global downturn, the number of visitors exceeded 90,000 according to the organisers. In other words “a record attendance”.
The tally from last year’s survey indicated deals of about $8bn in total were signed during the event. This year early survey results indicated it would exceed $9bn. It’s certainly an indication of the relatively robust state of the oil industry in the region. It shows the ongoing commitment by the national oil companies in spite of the oil price collapse over the past year.
No one is under the illusion that 2016 will be an easy year. All the major oil and gas operating companies continue to push hard on prices, both on services and equipment acquired. At the same time they are continuing to spend a lot of money on their major strategic projects, making the Arabian Gulf one of the bright spots in the world.
For that reason there was a record number of companies represented at this year’s conference looking for business.