3,000 International Delegates Examine Changing Energy World
Industry Guru Daniel Yergin Tells Gathering that 'Flight to Oil' Brings New Pressures and Challenges
Dubai, United Arab Emirates: One of the world's foremost technical conferences for the global energy industry - the International Petroleum Technology Conference (IPTC) - heard a keynote speech this morning from H.E. Mohamed Saleh Al-Sada, Minister of State for Energy & Industrial Affairs, Qatar.
Held under the patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai, the event drew more than 3,000 delegates from around the world.
They included some of the most senior governmental energy advisors as well as representatives of some of the world's largest energy concerns.
An opening session comprising leading figures from petroleum-related companies was presided over by Executive Committee Co-Chairpersons Farouk Al Zanki and Tony Hayward, respectively the Chief Executive and Managing Director of Kuwait National Petroleum Co. (KNPC) and BP Group Chief Executive.
"Given the meteoric rise of demand from countries such as China and India, these are challenging times for the energy industry," said Farouk Al Zanki. "Increasing supply requires that we break out from conventional oil fields, and instead find innovative techniques to obtain the maximum resources from as diverse sources as possible," he added.
The first day of the conference proceedings demonstrated the extent to which delegates are dealing with questions of contemporary concern, with sessions concerning "energy issues for a changing world."
Keynote speaker Daniel Yergin, Chairman of Cambridge Energy Research Associates, argued that the "flight to oil" as a source of economic security places new pressures on the industry to locate, extract and refine oil and gas in line with a dynamic new understanding of social, natural, and technological pressures.
This movement has particular significance for major oil-producing countries in the Middle East.
Bringing together the world's four largest representative bodies of exploration and production professionals - The Society of Petroleum Engineers (SPE), the European Association of Geoscientists and Engineers (EAGE), the Society of Exploration Geophysicists (SEG) and the American Association of Petroleum Geologists (AAPG) - the event is shaping up as a truly international gathering of energy professionals.
With more than 300 presentations covering a diverse range of subjects, including production, midstream gas, and health and safety in the oil industry, the conference is positioned to drive forward discussion about the contemporary and future needs of the energy industry.
IPTC offers an extensive exhibition showcasing products and services for the region and the world.
IPTC 2007 is currently taking place 4-6 December at Dubai International Convention and Exhibition Centre.
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About the International Petroleum Technology Conference
The International Petroleum Technology Conference (IPTC) delivers an in-depth programme addressing both upstream and midstream challenges for the oil and gas industry while providing a forum to discuss technical applications of the equipment and services displayed. The technical sessions, presented concurrently with the exhibition, focus on exploration, production, reservoir, midstream gas, and overarching issues while bringing together the perspectives of multiple disciplines including petroleum engineering, geology, and geophysics.
Further information can be found at http://www.iptcnet.org/2007/aboutiptc/about_dubai.html
© Press Release 2007
