South Korean companies eyeing expansion in UAE's oil and gas sector: Officials tell WAM

Top executives from South Korean companies have affirmed that numerous firms are actively looking to expand and inject new investments into the UAE's oil and gas sector, noting that the UAE is attracting capital seeking unprecedented growth and prosperity opportunities worldwide.

In statements to Emirates News Agency (WAM) during the second day of ADIPEC 2023, the officials emphasised that the UAE has made significant strides in energy transformation in recent years and continues its relentless efforts to address the consequences of climate change.

Kyle Moon, Deputy General Manager of Daeha company for high-pressure technology, said that the UAE is an attractive destination for investments in the oil and gas sector, highlighting that ADIPEC is one of the most significant events globally.

He further emphasised that ADIPEC enhances collaboration opportunities among policymakers, decision-makers, energy industry leaders, businesses, and innovators worldwide to support the development of a sustainable, secure, and cost-effective energy system.

Kevin Kyedong Oh, CEO of Oil Zero Separator, noted that his company is participating in ADIPEC for the second consecutive year and is exploring further expansion and presence in the UAE, given its status as a critical market in the Middle East and North Africa region.

Shafqat Zaheer, Managing Director of Petro Gulf Oilfield Equipment Trading affiliated with unilok company, emphasised that ADIPEC is a global platform for exchanging ideas and discussing the latest global challenges impacting energy markets. He stated that the UAE is an ideal destination for international companies looking to enhance their growth prospects through cross-sector partnerships and deals.

Wamseing Ko, Deputy General Manager of Senko, said that ADIPEC is a vital platform for Korean companies to identify new investment opportunities, enabling them to expand and grow. He affirmed that the UAE is one of the best countries providing investment opportunities in the oil and gas sector, particularly as a prime market attracting international investments.