Ensuring sustainable supplies of oil and gas in the face of growing market demand is the biggest long-term challenge facing the region's energy sector, industry experts said yesterday.
As much as $15 trillion in upstream oil and gas investment is needed to meet the projected oil demand of 99.7 million bpd by 2035, the International Energy Agency (IEA) has forecast.
Industry experts including 18th Middle East Oil & Gas Show and Conference (MEOS 2013) chairman Abdulaziz Al Abdulkarim, who is also executive director for IT in Saudi Aramco, and Bahrain's National Oil and Gas Authority (Noga) senior adviser Anwar Salman Khalaf were speaking during a Press conference yesterday at the Ritz-Carlton Bahrain, Hotel and Spa, according to a report in the Gulf Daily News.
The meeting was called to shed light on key themes that MEOS 2013 will look to tackle.
The mega industry event will take place from March 10 to 13 under the patronage of HRH Prime Minister Prince Khalifa bin Salman Al Khalifa.
A key highlight of the conference programme, the executive plenary session, will involve industry experts discussing the theme "Transforming the Energy Future".
"MEOS will also offer five panel sessions discussing important matters relevant to today's industry: the gas challenge; talent development and knowledge sharing; technologies required to unlock unconventional resources; greener petroleum collaboration for sustainability; and developing local content," Al Abdulkarim said.
SAGIA chairman Abdullatif A Al Othman will present another important session, "Financing the Change", addressing the main changes expected in the upcoming decade, strategies behind these changes and how they will be managed and financed.
"Companies and delegates alike can utilise MEOS 2013 to learn, forge business relationships, share expertise, and create new technologies in one of the most prolific hydrocarbon regions in the world," Mr Khalaf said.
"Spanning 14,800 square metres, MEOS 2013 will feature more than 300 exhibitors from 30 countries and covers all areas of the upstream industry; including exploration and production, on-shore and offshore technology, transportation, geophysics, drilling and completion, measurement systems, automation and information technology, security and environmental protection," Arabian Exhibition Management's director of sales and marketing Fawzi Al Shehabi said.
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