Italian companies eye the USD 2 billion worth of onshore and offshore oil & gas projects in the UAE

A range of latest equipments and services for the oil and gas industry will be showcased during the show by the participating Italian companies.

'OGS gives an opportunity for Italian producers and suppliers to stage a comprehensive display of the latest technologies to over 5,000 specialized visitors and buyers involved with the production and the distribution of oil & gas, at the local and international level,'

said Ferdinando Fiore, The Italian Trade Commissioner. 'The UAE is one of the few countries in the world which are taking advantage of the price hike in crude oil to invest in updating and modernizing their oil infrastructure in order to boost productivity. These efforts will also promote the production of natural gas, whether in condensate or LNG form.'

'Italian service providers and equipment suppliers are specially eyeing Abu Dhabi, where ADNOC is offering huge contracts in the sector. Most of these contracts are long terms projects and Italian companies, backed up by the Italian Trade Commission, will use the upcoming OGS as a medium to capture a share of the US$ 2 billion worth of onshore and offshore oil and gas industry projects in the UAE,' he added.

'Italian companies have been regular participants at OGS ever since its inception,' said Anselm Godinho, Managing Director, International Conferences & Exhibitions (IC&E), organizers of the show. 'Italian companies are internationally known for their excellent machinery and equipments in the field of oil and gas, as well as for the quality of after- sale services they offer their clients. This year too, we welcome the strong participation from the Italian contingent at OGS 2005.'

Following the latest developments in the region's oil market, Italian companies are keen to involve themselves in medium and long term projects to supply, install, test, and commission major projects.

The Italian Trade Commission is the government agency entrusted with promoting trade, business opportunities and industrial cooperation between Italian and foreign companies. Headquartered in Rome, where it is known as Istituto nazionale per il Commercio Estero (ICE), it operates through 100 branch offices in over 80 countries and helps foreign and Italian companies to develop business partnerships.