Abu Dhabi chamber has seen a strong growth in the membership of private oil and gas companies, reflecting the expansion taking place in Abu Dhabi’s private oil and gas sector, which is driven by Adnoc’s commitment to provide more opportunities to domestic businesses under the ICV programme, a senior official has said.

During the past five years, new membership registrations at Abu Dhabi Chamber in the oil and gas private sector expanded at a CAGR of 13.46 per cent annually, to reach more than 560 companies in October 2022, said Abdulla Mohamed Al Mazrui, Chairman of Abu Dhabi Chamber of Commerce and Industry (ADCCI) at the Abu Dhabi International Petroleum Exhibition and Conference (Adipec).

He said this year's Adipec has consolidated the UAE’s leading position in the global energy sector and the country’s significant role in confronting the challenges of climate change. 

Al Mazrui said: “The UAE adopts a strategic approach for achieving its sustainable development goals through launching promising initiatives that bring the public and private sector together to build a better future. Some of the country’s major initiatives include the National In-Country Value (ICV) Program, which aims to promote the diversification of the GDP, stimulate FDI, create valuable job opportunities in the private sector, and increase the private sector’s contribution to the national economy, among other benefits.

"The UAE has also launched the Net Zero 2050 strategic initiative, which seeks to enhance cooperation between the public and private sector and diversify energy sources,” he added.

Al Mazrui commented on Abu Dhabi Chamber’s participation in Adipec 2022, saying: “We are proud to be supporting Adipec, the world’s biggest forum in the energy and oil sector. As Abu Dhabi Chamber is working towards driving the growth of the Emirate’s private sector and building a knowledge-based economy, we are glad to support the growth of the oil, gas, energy, and technology sectors as part of our participation in this global event.”

Al Mazrui added: “Abu Dhabi Chamber has a wide range of services that meet the requirements of every private business, from fostering strategic networking opportunities, providing guidance and industry insights, to serving as the medium of communication between the private sector and the UAE government. We support private companies to reach their business objectives and contribute to Abu Dhabi’s economic growth and sustainable development.”

“In the upcoming period, we will continue to enhance our services to allow members to access major growth opportunities. We will also strengthen the dialogue between the private sector and government to drive a hospitable business environment that would serve as a model for private sector/government relationships across the world. As part of Adipec 2022, we would like to reaffirm our commitment to supporting the private sector and contributing to its growth,” he concluded.-TradeArabia News Service