Middle East

144 new companies open in Abu Dhabi

Abu Dhabi

Despite the oil price skimming $50, 144 new oil and gas companies were launched in the emirates in the past year.

The figure was revealed at the opening press conference for the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC).

ADIPEC is being held under the patronage of His Highness Sheikh Khalifa Bin Zayed Al Nahyan, President of the UAE.

The new firms bring the total number of oil and gas companies operating in Abu Dhabi to 1,467, according to the Abu Dhabi Chamber.

ADIPEC is expected to host 2,000 exhibiting companies, 7,000 delegates, and 85,000 attendees from more than 120 countries at this year’s four day event.

The show officially kicks-off tomorrow.

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