Business & Money | Tuesday 24 November, 2015 4:08 am |

The 7th Saudi Arabia International Oil and Gas Exhibition 2015 (SAOGE) opened on Monday, with the participation of 180 companies from 25 countries. Sixty percent of the firms are local.

Khaled bin Mohammed Al-Batal, undersecretary of the Eastern Province (EP), did the inauguration on behalf of EP Gov. Prince Saud bin Naif, at the Dhahran International Exhibitions Center in Dammam.
The show, held on a 7,200 sqm area, presents a platform to connect with new distributors and suppliers in the oil market, in addition to providing an opportunity to participate in the oil and gas business through direct meetings with the related international companies and institutions.
Participants observed that there was an urgent need for augmenting investments in the gas and oil sector, and for using advanced technologies to increase production. Some hoped that the event will help develop the oil and gas manufacturing industry and increase its funding.

Visitors were briefed about the huge achievements made in the oil and gas industry and some of its mega projects in the course of their tour of the expo.
Some participating companies praised the Dhahran Expo's efforts in organizing the event to provide a great opportunity for visitors to know the latest equipment and new technologies in the oil and gas sector and enhance its growth and development.
SAOGE is being seen by some participating companies as the premier event for the oil and gas industry in Saudi Arabia and one of the few specialized exhibitions in the Middle East, which attracts high-level technical experts, key industry professionals, specialists and decision-makers in various sectors of the petroleum industry.
The Eastern Province represents the backbone of the industry in the Kingdom. The EP's strategic location in the Gulf has helped to strengthen cooperation and unification of future plans to serve the industry regionally.

Dhahran Expo CEO Mohammed bin Hamad Al-Hussaini said: "During the first day of the expo, many deals and agreements were signed."
Al-Hussaini said that the Saudi market needs such specialized exhibitions to bring together international companies with the latest technologies in the oil and gas industry.
He added that the event includes many activities to exchange experiences, especially with the participation of investors from several countries, including the Gulf states, which have interest in this field.
The future of the oil and gas market in the Kingdom is linked to expanding opportunities for development, through partnerships and international agreements, in addition to the identification of the most prominent developments in the production of such materials, he added.
Al-Hussaini said: "The Arab world owns a large percentage of the global oil and natural gas reserves, which is expected to increase over the coming years, through new discoveries, and development of exploration and production technologies."