The massive repairs and reconstruction of Iraq's oil and gas industry will be featured prominently at OGS 2003, an oil and gas show in the Middle East, which brings together some of the world's foremost players in specialized equipment in exploration, drilling, mapping, maintenance, safety and rescue, fighting and corrosion protection.
According to a recent Deutsche Bank report, there could be as much as $1.5 billion in contracts to upgrade wells and pipes around the oil production facilities in Iraq. The country, which has 112.5 billion barrels of proven oil reserves, used to earlier produce 2.8 million barrels of oil per day. With the modernization and repair of its infrastructure, experts say that Iraq could be producing an additional million barrels of oil per day.
Targeting the oil, gas, petrochemical onshore and offshore industries, OGS will be held at the Dubai Airport Expo from October 12 to 15, 2003. The show is expected to be at least 30 percent bigger than the previous event with a majority of the leading distributors in the Gulf region having expressed their interest and support for the event. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
