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Gas Flaring Reduction Initiatives Crucial for the Middle East

Rise in Gas Investments in the Middle East Raise Concerns to Improved Gas Flaring Reduction Practices

Abu Dhabi-UAE - 04 December 2011 - Gas Flaring is now one of the prime concerns for the Middle East. The region has managed to attract a significant amount of investment to further enhance the gas industry. The Gas Arabia Summit will host a Gas Flaring Reduction Day on December 14, 2011 to address these concerns and provide a comprehensive analysis to efficiently utilize wasted gas.

The Middle East has been an attractive region for investors and companies to profit from its abundant gas resources. Saudi Aramco CEO, Khalid Al-Falih recently stated that their focus is to invest heavily in gas.

Dr. Jonathan Evans, General Manager, BP Oman, stated that there is around 100 trillion cubic feet of tight gas within BP 's Block 61 concession in Oman. In addition, Dr. Faleh Al Khayat, Former Director General of Planning, Iraq Ministry of Oil said that Iraq was potentially exporting 100 billion cubic meters of gas per year making the Middle East gas industry an extremely lucrative industry.

Recent investments in the Middle East gas industry include the US$17 billion contract between Iraq and Royal Dutch Shell Plc. and Mitsubishi Corp.; BP 's US$15 billion in the Khazzan and Makarem fields in Oman; and more.

In 2010, an estimated 134 billion cubic meters of gas was flared, a crucial waste of this useful energy resource. Gas flaring resulted in an estimated 400 million metric tons of carbon dioxide emissions annually with obvious environmental consequences.

Arianna Neri, Project Director, Gas Arabia Summit, said: "Gas is an important natural resource for the Middle East region. Countries such as Iraq are in dire need of electricity, which can be provided from flared gas. Countries and companies must take a proactive effort to mitigate the loss of this valuable resource to ensure significant economic development and prosperity of the region."

Ali Ghazzay Al Otaibi, Operations Section Head, Sulphur Blocks & Utilities, KNPC, and speaker at the Gas Arabia Summit commented: "There are two main reasons for our strong involvement in gas flaring reduction. The first is due to our organizational commitment, which was strengthened in 2001 to save the environment, and the second is due to the profit that was discovered behind these efforts. Instead of burning away millions of Kuwaiti Dinars, KNPC could capitalize on the latest technologies to make significant gains in revenue, which the company has benefitted from for several years."

The Gas Flaring Day, sponsored by Saudi Aramco and GE Oil and Gas, will provide attendees with an in-depth analysis of the current and emerging consequences of gas flaring in the region. In addition renowned speakers will discuss how gas-producing companies can strategically move towards zero flaring.

The Gas Flaring Survey has been launched by the organisers in cooperation with Saudi Aramco to gather data on operators' practices on flaring. The data will be discussed and analysed at the event on 14 December. The Survey can be completed at www.surveymonkey.net/s/gasflaring.

Speakers confirmed to participate include: Saad Turaiki, VP Southern Area Oil Operations, Saudi Aramco; Wael Al Blaies, Flare and Relief System Specialist and the department Supervisor, Muhsin Al Khudhairi, Saudi Aramco, Bryanne Tait, Senior Project Manager, E.ON Masdar Integrated Carbon; Ali Ghazzay Al Otaibi, Operation Section Head, Kuwait National Company; and more.

-Ends-

Event website: www.theenergyexchange.co.uk/gasarabia

For media enquiries please contact:
The Public Relations Company
Kay Braganza
Consultant
kay.braganza@tprc.ae
Tel: +971 50 7681684

THE ENERGY EXCHANGE
Arianna Neri
Project Director
a.neri@theenergyexchange.co.uk
Tel: +39 338 111 2103 | +971 2 401 2930

© Press Release 2011