US-UAE Business Council Highlights Abu Dhabi’s Global Role in Energy (OTC 2013)

The U.S.-U.A.E. Business Council hosted a dinner on Sunday in Houston honoring visiting senior Emirati delegations, which included many representatives from the Abu Dhabi National Oil Company (ADNOC) and its subsidiaries as well as the Abu Dhabi Chamber of Commerce & Industry (ADCCI).

The event took place on the eve of the launch of the Offshore Technology Conference (OTC 2013) and brought senior government and private industry leaders together to discuss industry trends impacting the global energy sector. The delegations from Abu Dhabi were led by Ali Rashid Al-Jarwan, Chief Executive Officer of the Abu Dhabi Marine Operating Company (ADMA-OPCO) and Abubaker Seddiq Al Khouri, Board Member of ADCCI and Chairman of Aldar-Sorouh.

Ali Rashid Al-Jarwan, CEO of Abu Dhabi Marine Operating Company (left), and Abubaker Seddiq Al Khouri, Chairman of Aldar-Sorouh and Board Member of the Abu Dhabi Chamber of Commerce & Industry (ADCCI) (right), address U.S.-U.A.E. business executives and government officials on the sidelines of OTC 2013 in Houston, Texas

Danny Sebright, president of the U.S.-U.A.E. Business Council, provided opening remarks and welcomed the delegations and American industry representatives to Houston. In his comments, Sebright underscored the importance of oil and gas, and the broader energy sector to the world market, and highlighted Abu Dhabi’s global role in the field. In doing so, Sebright applauded ADNOC and its subsidiaries for the work they are doing to sustainably cultivate natural resources and reinvest in other growth sectors vital to comprehensive economic development in Abu Dhabi and the broader United Arab Emirates (U.A.E.). Sebright also pointed to several projects underway in renewable, solar, and peaceful nuclear energy to underscore the country’s active international presence and responsible energy sector diversification.

Following his welcome remarks, Sebright introduced Al Khouri to make some brief comments about the continued development of Abu Dhabi’s private sector and the emirate’s eagerness to bolster relationships with international partners. In his remarks, Al Khouri noted the strong ties that exist between Abu Dhabi and the United States, especially its “Sister City” of Houston. In doing so, he pointed to OTC 2013 as a key opportunity for global energy sector thought-leaders to meet and discuss the evolving state of U.S.-U.A.E. relations and the global energy sector.

After Al Khouri’s remarks, ADMA-OPCO’s Al-Jarwan took the stage to provide the audience with an update on the oil and gas sector in Abu Dhabi and insight into the future outlook of the industry. Throughout his presentation, Al-Jarwan pointed to the U.A.E.’s keenness to increase its oil production in the near-term from the current 2.6 million barrels per day (bpd) to 3.5 million bpd to ensure the stability of the global market and cope with increasing demand from around the world. In his comments, Al-Jarwan noted the significance of the oil and gas industry to Abu Dhabi’s economy, while acknowledging that active progress is being made towards Abu Dhabi’s Vision 2030 economic development plan to diversify the emirate’s economy away from a sole dependence on oil and gas revenue over the next few decades. He also highlighted ADNOC and its subsidiaries’ continued interest exploring corporate partnership and investment opportunities, encouraging American industry executives to connect with his colleagues during OTC 2013 and discuss ways to share technologies vital to the growth of the oil and gas sector.

Following the formal speaking program, the floor was opened to the audience for a question and answer session. During the session, U.S. and U.A.E. private and public sector representatives openly discussed developments and issues impacting bilateral trade and investment in the oil and gas and broader energy sectors.

The U.S.-U.A.E. Business Council, the ADCCI and ADNOC delegations, and many of the event attendees are in Houston this week for OTC 2013.  

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