Middle East Role in World Energy Balance Forum

Venue: 5 star venue

Location: Dubai, Dubai, United Arab Emirates

Event Date/Time: Sep 19, 2006 End Date/Time: Sep 20, 2006
Registration Date: Sep 18, 2006
Early Registration Date: Sep 18, 2006
Abstract Submission Date: Sep 18, 2006
Paper Submission Date: Sep 18, 2006
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Description

Fleming Gulf to host the Middle East Role in World Energy Balance Forum,
in Dubai on 19th and 20th of September,2006 at a five star venue

This forum provides a platform for professionals from different areas like technical challenges, geopolitics, environmental issues, alternative technology, pricing mechanisms, mega investments etc to discuss, debate and formulate strategies for sound and sustainable development.

We have had access to cheap energy for the last 150 years and our societies and our way of thinking are built on it. While no major oil finds have been recorded in the last 20 years, we are now looking at a period in which the remaining resources will be used up at an alarming speed. It took about 150 years for the first trillion barrels of oil to be produced and used, it is expected that the next trillion barrels will only take 30-35 years. With 65% of the global oil production in Middle East, and resources gradually declining, can Middle East hold on to the coveted position? It will according to Faisal Al Asfour, Manager of Planning, Kuwait Oil Company. Dr Hisham Saadawi, Head of Engineering at ADCO, Abu Dhabi National Oil Company has a different view. He thinks that the era of big oil finds are over and oil companies in Middle East should target small remote oil field which can be profitable ventures with availability of modern technology. However Jan Van Buitenen, rtd PDO-Shell, Reservoir Recovery Manager, Jess Kozman, Principal Geoscientist, Schlumberger, Far East and Ashok Srivastava, Senior Petrophysicist, Schlumberger, Middle East feels that the viable option is to enhance reservoir recovery. Supporting them will be Hani Qutob, Chief Reservoir Engineer, Weatherford who will be presenting a paper on “How under balanced drilling technology can add reserves and enhance recovery”?

More than ever Middle East has an immense role to play in driving the world economy. However, in the absence of clear universal definitions regarding estimation of reserves the picture of Middle East oil is very obscure. Dr. Dolton Gariss, Petroleum Economist from Abu Dhabi Petroleum Institute feels that Middle East is still significant and the high oil prices at present owe to under capacity in refineries to meet the demand. So what are the alternatives? How do the rich and energy-intensive economies deal with current scenario? Talmiz Ahmad, Director General of Foreign Affairs, Government of India and Kalim Siddique, Director of Supply Chain, Pakistan State Oil Corporation highlights the strategy worked out by their countries in changing energy scenario. Will they shift to secondary markets like Russia and Iraq? These and more thoughts are brought up by Dr. Eugene Khartukov from International Petroleum Business Studies, Moscow and Dr Ali Hussain, Oil Consultant. Moreover, Dr Eugene says Russia might soon be the largest oil producer, which will have a killing effect on the Middle East economies. But will producing of more oil do it? Although it might be technically possible for at least the time being, emissions will rise with increasing production and usage. The climate issue is already getting serious all over the world, and since it does not have any geographic borders, responsible behavior will be needed globally.

So do Middle Eastern oil companies have a head on advantage by investing in unconventional energy? Bozkart Aydinoglu,Founder of UK based New Energy Finance feels that the time for alternative energy technology has come and Middle East oil companies will have a first mover advantage by investing wisely. With a good deal of uncertainties and concerns around, what about funding for mega oil and gas projects? Sir Ian Seymour, Editor Emeritus of Middle East Economic Survey talks about investment opportunities in Middle East and North Africa with actual case studies.

With oil prices at world record levels one should not overlook the importance of transparent oil statistics which will be a key factor in the stability of the world oil market. Dr Tilak Doshi, Executive Director of Dubai Multi Commodity Centre and Dr Said Nachet , Director, International Energy Forum Secretariat highlights it’s relevance to risk management in the Middle East.

With variety of industry experts coming from the Middle East, UK, Russia, India, Malaysia, Pakistan etc, Fleming Gulf - A Jacob Fleming Group, based subsidiary in Dubai has prepared conference on “Middle East Role in World Energy Balance Forum”, to be held on 20th & 21st of Sept 2006 in Dubai, where many new thought provoking subjects have been included in a non-political, neutral way. Providing key strategic business information and the best networking opportunities will prepare grounds for focused dialogue on a concrete subject and personal contacts that will foster future activities is always of importance to the parties involved.


George Thomas
Conference Producer,
Fleming Gulf FZ LLC
PO Box 500604
Dubai UAE
Tel 971 4 3902761
Fax 971 4 3661048

Venue