Iraq Future Energy 2012 to highlight lucrative returns on energy sector investments
Source: BI-ME , Author: Posted by BI-ME staff
Posted: Sat July 21, 2012 1:50 pm

INTERNATIONAL.  The third annual Iraq Future Energy conference returns to Istanbul, Turkey, from 17 – 20 September 2012 to discuss a range of issues that will help maximise returns on investment in the Iraqi oil, gas and power sectors.

Organised by The Energy Exchange, Iraq Future Energy 2012 has secured official support from the Iraqi government, including its Ministry of Electricity and Ministry of Industry and Minerals.

Iraq Future Energy 2012 will provide a comprehensive analysis on strategies and service opportunities to develop the entire oil and gas sector from extraction to distribution, whilst highlighting goals set by Iraq, such as: boosting output capacity in 2012 to 3.4 million barrels per day (bpd) and export capacity to 2.6 million bpd; the 10-year strategic plan for 2008 - 2017 of increasing refining capacity from 600,000 bpd to 1.5 million bpd; amongst others.

Specifically focusing on engineering, procurement and construction on major oil and gas fields in Iraq, it will also discuss how developing the upstream sector will significantly impact activity in the downstream sector of the country. Additionally, the Summit will provide an overview of solutions for improved infrastructure and logistics needed for effective transport of oil and gas.

Jinanda Sheth, Event Director, The Energy Exchange, said: “Key topics at the conference will include the status of current E&P projects as well as the outcome of the fourth bid round for 12 exploration blocks in May. Speakers will illustrate how organisations in the energy industry can take advantage of these situations to achieve a substantial return on investment.

“In addition, a comprehensive look on Iraq’s US$17.2 billion gas flaring project will also be presented for capturing and processing gas from the southern oil fields of Rumaila, West Qurna phase 2 and Zubair. Furthermore, Iraq’s downstream sector is expected to grow rapidly especially after reports of the Middle East investing US$666 billion in the oil and gas industry. As a result, the conference has expanded its focus on developing a strong downstream industry as well.”

Recently, the Ministry of Electricity has announced projects worth US$4.5 billion in 2012. The conference will also put special emphasis on the country’s emerging power generation capabilities, along with an update of multiple mega projects being awarded by the Government and plans for further development.

A plethora of speakers from numerous regionally and globally renowned organisations are confirmed to participate at this year’s conference. His Excellency Mohammad Abdullah Mohammed, Deputy Minister, Ministry of Industry and Minerals, Iraq; Dr. Ibrahim Bahr Alolom, Former Minister, Ministry of Oil, Iraq; Dr. Kosay Abdul Sattar, Director General - Planning and Studies Department, Ministry of Electricity, Iraq; Dr. Sami Al Araji, Chairman, National Investment Commission, Iraq; Hans Nijkamp, Vice President and Country Chairman Iraq, Shell; Gati Al Jebouri, Executive Director, Lukoil Middle East and Khalid Mahdi, Chairman, Private Sector Development Center, Iraq; representatives from the United Nations Development Programme (UNDP); and others will provide comprehensive presentations and participate in thought-provoking panel discussions to highlight the opportunities for organisations seeking new business and service opportunities in Iraq’s electricity, oil and gas, and power sectors.

With an outstanding list of speakers and topics of discussion, attendees at the Iraq Future Energy 2012 will gain first-hand information about up-coming projects and associated real-time opportunities.

In addition they will meet the ministries awarding contracts, operators and contractors involved in mega projects and the solution providers, as well as investors in search of lucrative opportunities.

For more information on Iraq Future Energy 2012, please visit: http://www.theenergyexchange.co.uk/iraq.

 

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