The Middle East is the land of Sand and Sheikhs. It is home to some of the most magnificent skyscrapers around the globe. However, the thing that lures the rest of the world to this region is the massive amount of crude oil buried hundreds of feet beneath the earth’s crust. From an oil and gas industry perspective, the Middle East is a pool of oil-rich countries which includes Iran, Iraq, Syria, Kuwait, Saudi Arabia, Bahrain, Qatar, United Arab Emirates (UAE), Oman, and Yemen. Despite their combined land possession adding up to only 3.4% of the Earth’s land surface, they own 48% of the world’s known oil reserves and 38% of natural gas reserves (according to BP’s 2012 Statistical Review of World Energy). Subsequently, the oil and gas industry in the region is colossal. Saudi Aramco, ADNOC, Qatar Gas, Kuwait Oil Company, National Iranian Oil Company are just some of the big names that reign not just the Middle East oil and gas industry, but also that of the world. Needless to say, the Middle East marketplace has made it easier for manufacturers and suppliers to carry out business activities in the region.
In this article, we are looking at some of the leading online marketplaces and equipment manufacturers/suppliers for the Middle East oil and gas industry.
Leading Middle East Marketplace for the Oil & Gas Industry
SAP Ariba Network
Announced in 2017, the deployment of SAP Ariba for realizing ease-of-business in Saudi Arabia has been a huge success. SAP’s unique procurement software provides an e-Marketplace platform to promote online trading between Saudi Aramco and business partners. Saudi Aramco necessitates any company looking to become a supplier to register with the Ariba network. With the introduction of Ariba into Saudi Aramco’s procurement process, the oil giant has optimized business processes and costs and seen a huge improvement in customer and supplier relationships. The SAP Ariba solution enables Saudi Aramco to capitalize on several solution functionalities, including e-bidding, e-sourcing, contracts life-cycle management, and supplier onboarding, creating a collaborative supply chain environment. SAP Ariba Network is the right place for you if you’re looking to be in business with Saudi Aramco.
Marketplace by Energy Dais
A fairly new entry in the Middle East marketplace business, the Marketplace by Energy Dais is a rapidly growing eCommerce platform dedicated to the oil and gas industry. The platform allows manufacturers and suppliers to list their offerings on the website, market them for free and pay a chunk of money upon sales. Undoubtedly, one of the most interesting features of the Marketplace by Energy Dais is Live Chat. The feature establishes a secure communication channel between buyers and sellers to help convey the exact requirement and expectations from the equipment being sold. Marketplace by Energy Dais is the right place for you if you’re looking to cover the entire Middle East marketplace in a cost-effective manner.
Gulf Oil & Gas
Gulf Oil & Gas is a long-standing Middle East marketplace for the manufacturers and suppliers in the oil and gas industry. The platform provides access to the oil, gas, and unconventional resources markets. GOG’s full-focus on different segments across upstream, midstream and downstream activities allows buyers to explore a wide range of products and services. The platform offers online stores to display products and services in a professional, simple, and accessible way. Apart from the marketplace framework, Gulf Oil & Gas also provides an oil and gas directory covering products, services, and technology categories.
Top Oil Industry Equipment Manufacturers & Suppliers – Middle East Marketplace
The coronavirus pandemic and the subsequent downturn has pushed the oil and gas companies to alter their priorities and ensure that they keep their heads above the water in these times. Expenditures are now limited to conserve cash and focus has shifted to options that are reliable yet cost-effective. It becomes even more important from a Middle East point of view, considering the magnitude at which oil and gas-related activities are carried out in the region. The quick and regular supply is also an important aspect in that regard. Therefore, the Middle East marketplace is an attractive avenue for oil industry equipment manufacturers and suppliers.
Let’s look at some of the manufacturers and suppliers that are enabling such a reliable and cost-effective operational framework across the Middle East marketplace:
- Crimson Oil Tools
- SledgeHammer Oil Tools
- American Completion Tools
- ANGI Energy System LLC
- Atlas Copco
- Baker Hughes
All being said, the Middle East marketplace continues to grow tremendously even during this period of downturn, especially the oilfield services market. Forecasters are predicting a compound annual growth of over 3.5% for the Middle East oilfield services industry during 2020 – 2025. However, this growth could seriously get dampened by the prevalent geopolitical tension and civil unrest in the region. Nonetheless, it’d be interesting to witness the growth of the Middle East marketplace in the coming years.
(The views and opinions expressed in this article do not necessarily reflect the views of Energy Dais.)