Enhancing energy policy cooperation between EU and GCC: a marketing strategy for oil and gas technologies

A major resurgence in oil and gas exploration and production activity is being spurred by technological and management innovations. The European industry has been in the forefront of many of these changes. With new initiatives throughout the member states of the Cooperation Council for the Arab States of the Gulf (GCC) to invite foreign companies to participate more extensively in the development of the local hydrocarbon industries, there are new and vast opportunities opening up for European and GCC companies. Considering that Europe's reliance on GCC oil is likely to be virtually complete in the long term, as well as the increased demand for imported natural gas, the enhancement of liaisons between the EU and GCC energy industry is a priority for both EU security of energy supply and the competitiveness of GCC operators. The paper presents a review of the marketing aspects in the field of oil and gas technologies as perceived both by GCC operators and EU technology providers and proposes a list of strategic actions for the enhancement of technology cooperation and the increase of EU industries' presence in the local market.