ADNOC looks to Asian majors to support expansion plans
The CEO of Abu Dhabi National Oil Company (ADNOC), Dr. Sultan Ahmed Al Jaber, has met with both potential and existing partners in China and Japan to explore new partnership and co-investment opportunities.
ADNOC, which recently announced the expansion of its strategic partnership model, as well as the more active management of its portfolio of assets, said the trip was also part of an effort to strengthen UAE bilateral relations with China and Japan.
ADNOC has existing partnerships with a number of Chinese and Japanese companies across its upstream, midstream and downstream businesses.
In China, Al Jaber met with the Ministry of Foreign Affairs including H.E. Wang Yi, Foreign Minister of the People’s Republic of China and Mr. Deng Li, Director-General for the MENA Region.
He also met with existing and new, potential partners to brief them about ADNOC’s new, expanded partnership approach.
In Japan, Al Jaber had a bilateral meeting with H.E. Shinzo Abe, Prime Minister of Japan. Dr. Al Jaber conveyed the greetings of the UAE leadership to Prime Minister Abe and discussed ways to deepen cooperation in the energy sector.
In addition to Prime Minister Abe, he also met with H.E. Fumio Kishida, Minister of Foreign Affairs, H.E. Hiroshige Seko, Minister of Economy, Trade and Industry. Al Jaber held further meetings and discussions with ADNOC’s Japanese partners to discuss ADNOC’s new partnership and co-investment opportunities.
Al Jaber said, “As ADNOC embarks on its new approach, we look forward to building on our successful partnerships in both China and Japan. We believe our mutual goals and objectives are aligned and that committed and long term collaboration will help meet the growing energy demand of both countries, as well as promote sustainable economic growth and trade.”
The CEO’s visit to Japan coincided with the fifth Abu Dhabi-Japan Economic Council meeting in Tokyo where a number of senior Abu Dhabi officials discussed potential areas of cooperation around key economic sectors, including oil and gas.
Global Offshore rebrands Enelift and invests in global hubs
Global Offshore has rebranded Enelift and will invest "a seven-figure sum" in establishing new support hubs in Houston, Dubai, Singapore, Perth and the Caspian during the next six months.
The investment will cover oil, gas and renewables, mainly concentrating on manufacturing capability with associated R&D, as well as in stock held in the hubs.
The company’s flagship Hinge Lok technology provides aluminium, non-welded light weight transportation cradle for casing and tubing. Enelift now plans to enhance its offering by augmenting its existing solutions with robotics and remote operational and training technology, which will reduce manpower for handling offshore equipment that is transported and stored using the Hinge Lok system.
Enelift is partnering with "a Japanese robotics company" and the technology will be trialed with "a Norwegian operator on a Norwegian drilling rig", according to a statement.
Operating from its bases in Aberdeen, UK and Esbjerg, Enelift was founded by 35-year industry veteran and Managing Director Paul Brebner 10 years ago to offer the offshore energy industries safe, reliable and efficient storage and transportation of equipment.
The expansion plans are bolstered by the appointment of Jim Clark of the Craigendarroch Group to Chairman, and Adam Maitland to Non-Executive Director. Maitland is the Managing Director of Hutcheon Mearns IF, and brings his wealth of expertise in the field of corporate finance.
Brebner said Enelift may be a new name in the market, but the experience it brings is "industry renowned".
"Our solutions are underpinned by safety that enables inefficiencies and their associated costs to be eradicated – meaning operational personnel can focus doing what they do best, safely. We remain committed to providing the safest storage and transportation solutions for equipment in the sector as we grow our global operations," he said.
Clark said the market is changing and its solutions fully support customers’ economic and safety aspirations.
"We are very well placed to take full advantage of increasing opportunities in the Middle East, Africa, Far East and Americas. Safety is our absolute commitment to our customers and our support hubs will facilitate this. Aligning our identity to our entire offering ensures that we will drive our expansion through new products and global support sites across the rest of this year."