The regional maritime industry is facing a demand surge for multi-purpose vessels as the offshore sector faces a dramatic growth, said a report.

It revealed that the Abu Dhabi Marine Operating Company (Adma-Opco) and Zakum Development Company (Zadco) have awarded $4.9 billion worth of deals this year on Satah Al-Razboot (Sarb) and Umm Al-Lulu oil field developments.

Qatar’s $8 billion Barzan North Field Development and Saudi Arabia's $6 billion Arabiyah and Hasbah Oilfield have placed the regional maritime industry into an expansion mode, it said.

“With rising oil and gas demand, hydrocarbon producers in the region are encouraged to spend more in order to increase production and secure new markets. This is generating massive demand for multi-purpose supply vessels, utility vessels and work boats,” said Saif Mohammed Al Midfa, CEO, Expo Centre Sharjah, ahead of the upcoming Gulf Maritime exhibition and Mastech conference to be held from November 25 to 27.

Besides demand for new vessels, thousands of vessels in operation including platform supply vessels, anchor handling vessels, tugs, dive boats and dredgers are set to dock, get repaired or upgraded in the region, he said.

Mastech will discuss supply requirements, current trends and developments in the maritime industry, alongside the Gulf Maritime expo, which will showcase well stimulation vessels that can handle all phases of production stimulation, including fracturing, sand control and conformance solutions for offshore projects and associated equipment, and barges, said Ashik Subahani, general manager at Great Waters Maritime and event convener at Mastech 2013.

Experts will address maritime commerce, developments in ports and shipping to handle ultra large ships and cargos, best practices in marine operations, modular heavy lift and transport, advancement in deep sea development and energy efficiency.

“The maritime industry is currently enjoying a prosperity which is not known for some time. It is therefore understandable that the industry would wish to concentrate on meeting this demand and enjoying the benefits of this upturn in the industry's fortunes,” said Trevor Blakely, chief executive, the Royal Institution of Naval Architects.

“At such a time it is all the more important for the industry to look ahead in order to respond to the challenges it will face from the increasing demands of operators, regulators and society for greater efficiency, safety and the protection of the environment.”

Ship owners, operators, shipbuilders and suppliers of equipment and services can not only gain in-depth knowledge of the industry but also share their experience, exchange ideas, and discuss latest trends and issues with their peers. - TradeArabia News Service