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Mon 1 Jan 2007 05:24 PM

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Energy leaders will use Dubai for conference

Four of the world’s largest representative bodies of energy and petroleum professionals will be bringing their major biennial international conference to Dubai in 2007.

Four of the world’s largest representative bodies of energy and petroleum professionals will be bringing their major biennial international conference to Dubai in 2007.

The Society of Petroleum Engineers, the European Association of Geoscientists and Engineers, the Society of Exploration Geophysicists and the American Association of Petroleum Geologists, will host the event at the Dubai International Convention and Exhibition Centre.

The theme of the 2007 International Petroleum Technology Conference (IPTC), entitled ‘A Changing World – Interdependence, Innovation and Implementation,’ will focus on the future of the energy industry.

Following figures published by the International Energy Agency suggesting primary energy demands will more than double by 2030, the next leg of the conference will provide a forum for energy executives to discuss how they can provide sufficient supply to meet global needs.

“By involving business leaders and authorities on energy policy from across the Middle East and wider world, the International Petroleum Technology Conference will drive change and stimulate new ideas across our entire industry,” said Abduljaleel Al Khalfa, SPE President and IPTC Board member.

According to the International Energy Agency’s World Energy Outlook report, low levels of investment in infrastructure have led to increasingly tight capacity in the world’s oil and gas markets.

Countries in the Middle East and North Africa (MENA) region will play a key role in meeting this surging demand, which is expected to remain strong until 2030. The report predicts that MENA oil production will increase by 75% by 2030 and natural gas production will treble, allowing more gas exports.

This means the countries of the Middle East and North Africa will need to invest, on average, US $56 billion per year in energy infrastructure. The level of upstream oil investment required will be more than twice that of the last decade.

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