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Conference review SPE held its first Annual Technical Conference and Exhibition in the Middle East in September, as 7,500 industry professionals from 94 countries met to discuss topics under the theme of “E&P 2.0: Transforming and Shaping the Future.” The event took place at the Dubai World Trade Centre under the patronage of the Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, and drew senior speakers from operators, service companies, and academia. The conference opened with addresses from the leading executives of two of the region’s oil giants. Amin H. Nasser, president and chief executive officer (CEO) of Saudi Aramco, delivered the conference opening keynote address, and the welcome keynote speech was given by Abdul Munim Saif Al Kindy, director of exploration development and production for Abu Dhabi National Oil Company (ADNOC). Both Nasser and Al Kindy struck similar themes about the need for both the industry and their respective state oil companies to change strategy in light of the oil and gas sector’s current economic challenges. Despite growth in alternative energy sources, hydrocarbons will supply the world’s energy needs for years to come, said Nasser. He called the current oil industry in recovery mode but still weak. “Despite recent oil price volatility, the market is reaching balance,” but likely will remain volatile in the near term, he said. Firms with both upstream and downstream businesses will remain in better shape, he added. Nasser laid out Saudi Aramco’s four-point framework for the future, which has similar applications to the broader industry, he said. The plan focuses on resilience, innovation, managing talent, and collaboration. Noting that many smaller companies have filed for bankruptcy because they were overleveraged, he emphasized that a strong financial position, and diversity beyond just the upstream, will help companies survive in times such as these. It also allows for continued investment in technology and building capable human resources.
- Government > Regional Government > Asia Government > Middle East Government > Saudi Arabia Government (1.00)
- Energy > Oil & Gas > Upstream (1.00)
- North America > United States > Texas > Permian Basin > Yeso Formation (0.99)
- North America > United States > Texas > Permian Basin > Yates Formation (0.99)
- North America > United States > Texas > Permian Basin > Wolfcamp Formation (0.99)
- (21 more...)
SPE held its first Annual Technical Conference and Exhibition in the Middle East in September, as 7,500 industry professionals from 94 countries met to discuss topics under the theme of "E&P 2.0: Transforming and Shaping the Future." The event took place at the Dubai World Trade Centre under the patronage of the Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, and drew senior speakers from operators, service com panies, and academia. The conference opened with addresses from the leading executives of two of the region's oil giants. Amin H. Nasser, president and chief executive officer (CEO) of Saudi Aramco, delivered the conference opening keynote address, and the welcome keynote speech was given by Abdul Munim Saif Al Kindy, director of exploration development and production for Abu Dhabi National Oil Company (ADNOC). Both Nasser and Al Kindy struck similar themes about the need for both the industry and their respective state oil companies to change strategy in light of the oil and gas sector's current economic challenges.
- Energy > Oil & Gas > Upstream (1.00)
- Government > Regional Government > Asia Government > Middle East Government > Saudi Arabia Government (0.60)
- Government > Regional Government > Asia Government > Middle East Government > UAE Government (0.56)
2020 IPTC conference review The 12th International Petroleum Technology Conference, held 13–15 January in Dhahran, was the largest in its history with more than 18,000 attendees. It marked the first international multidisciplinary, intersociety oil and gas conference and exhibition to be held in Saudi Arabi and featured some of the globe’s top oil and gas executives, including the energy ministers of Saudi Arabia and Bahrain, Saudi Aramco’s president and CEO, and the CEOs of ExxonMobil, Total, Petronas, and Woodside. Below are highlights from some of the plenary, panel, and technical sessions that took place during the 3-day event. Welcoming a New Energy Era The conference opened with a distinguished panel offering its outlook for oil and gas markets in the next year and the next decade. “This is the first interdisciplinary oil and gas conference to be held in Saudi Arabia,” said Mahmoud M. Abdulbaqi, chairman of the board of ARGAS and chairman of the IPTC Board of Directors. The conference was hosted by Saudi Aramco. The opening panel included Abdulbaqi; Mohammed Y. Al-Qahtani, senior vice president, upstream, Saudi Aramco; Yasir Al-Rumayyan, chairman of the board, Saudi Aramco; and Prince Abdulaziz bin Salman Al-Saud, minister of energy, Kingdom of Saudi Arabia. “These are exiting times for the Kingdom,” al-Qahtani said, as both Saudi Aramco and the oil and gas industry at large face a new decade of growing demand but with a need to lighten the industry’s carbon footprint. Saudi Aramco raised a record $29.4 billion in its recent IPO. Al-Rumayyan said the oil and gas industry thinks in terms of decades, which runs up against the notion that the “energy transition” will occur “from a definitive point A to a definitive point B” and will take place at the same time in the same way everywhere. Instead, he offered what he called the “pragmatic narrative” of a transition happening over decades and that there “will be many energy transitions” at different speeds. The more narrow narrative is having negative consequences for the industry, he added, because it is influencing some banks to back away from funding oil and gas projects. This lack of investment eventually will lead to a supply shortage that could cause oil price spikes in the near future, he said. He acknowledged the need of the industry to “lighten the carbon footprint” through technology and innovation, but it must continue to meet the world’s energy needs. The industry must never forget its role to responsibly supply energy required to power the world and sustain economies, he said. If the industry “offers real solutions with real energy to meet real needs” it will last well into the future, he added. Saudi Energy Minister Al-Saud noted the historically important role that Saudi Arabia has played since the discovery of oil about 80 years ago. The global economic growth of the past half century, which paved the way for transformative development and lifted many out of poverty, would not have taken place without the stability of oil supply from Saudi Arabia.
- Government > Regional Government > Asia Government > Middle East Government > Saudi Arabia Government (1.00)
- Energy > Oil & Gas (1.00)
- North America > United States > Texas > Permian Basin > Yeso Formation (0.99)
- North America > United States > Texas > Permian Basin > Yates Formation (0.99)
- North America > United States > Texas > Permian Basin > Wolfcamp Formation (0.99)
- (26 more...)
The 12th International Petroleum Technology Conference, held 13–15 January in Dhahran, was the largest in its history with more than 18,000 attendees. It marked the first international multidisciplinary, intersociety oil and gas conference and exhibition to be held in Saudi Arabi and featured some of the globe's top oil and gas executives, including the energy ministers of Saudi Arabia and Bahrain, Saudi Aramco's president and CEO, and the CEOs of ExxonMobil, Total, Petronas, and Woodside. Below are highlights from some of the plenary, panel, and technical sessions that took place during the 3-day event. The conference opened with a distinguished panel offering its outlook for oil and gas markets in the next year and the next decade. "This is the first interdisciplinary oil and gas conference to be held in Saudi Arabia," said Mahmoud M. Abdulbaqi, chairman of the board of ARGAS and chairman of the IPTC Board of Directors. The conference was hosted by Saudi Aramco. The opening panel included Abdulbaqi; Mohammed Y. Al-Qahtani, senior vice president, upstream, Saudi Aramco; Yasir Al-Rumayyan, chairman of the board, Saudi Aramco; and Prince Abdulaziz bin Salman Al-Saud, minister of energy, Kingdom of Saudi Arabia. "These are exiting times for the Kingdom," al-Qahtani said, as both Saudi Aramco and the oil and gas industry at large face a new decade of growing demand but with a need to lighten the industry's carbon footprint.
- Government > Regional Government > Asia Government > Middle East Government > Saudi Arabia Government (1.00)
- Energy > Oil & Gas (1.00)
- North America > United States > Texas > Permian Basin > Yeso Formation (0.99)
- North America > United States > Texas > Permian Basin > Yates Formation (0.99)
- North America > United States > Texas > Permian Basin > Wolfcamp Formation (0.99)
- (22 more...)
- Reservoir Description and Dynamics > Reservoir Characterization (1.00)
- Health, Safety, Environment & Sustainability > Sustainability/Social Responsibility > Sustainable development (1.00)
- Health, Safety, Environment & Sustainability > Environment > Climate change (1.00)
- Data Science & Engineering Analytics > Information Management and Systems > Artificial intelligence (1.00)
The 12th International Petroleum Technology Conference, held 13–15 January in Dhahran, was the largest in its history with more than 18,000 attendees. It marked the first international multidisciplinary, intersociety oil and gas conference and exhibition to be held in Saudi Arabi and featured some of the globe's top oil and gas executives, including the energy ministers of Saudi Arabia and Bahrain, Saudi Aramco's president and CEO, and the CEOs of ExxonMobil, Total, Petronas, and Woodside. Below are highlights from some of the plenary, panel, and technical sessions that took place during the 3-day event. The conference opened with a distinguished panel offering its outlook for oil and gas markets in the next year and the next decade. "This is the first interdisciplinary oil and gas conference to be held in Saudi Arabia," said Mahmoud M. Abdulbaqi, chairman of the board of ARGAS and chairman of the IPTC Board of Directors. The conference was hosted by Saudi Aramco. The opening panel included Abdulbaqi; Mohammed Y. Al-Qahtani, senior vice president, upstream, Saudi Aramco; Yasir Al-Rumayyan, chairman of the board, Saudi Aramco; and Prince Abdulaziz bin Salman Al-Saud, minister of energy, Kingdom of Saudi Arabia. "These are exiting times for the Kingdom," al-Qahtani said, as both Saudi Aramco and the oil and gas industry at large face a new decade of growing demand but with a need to lighten the industry's carbon footprint.
- Government > Regional Government > Asia Government > Middle East Government > Saudi Arabia Government (1.00)
- Energy > Oil & Gas (1.00)
- North America > United States > Texas > Permian Basin > Yeso Formation (0.99)
- North America > United States > Texas > Permian Basin > Yates Formation (0.99)
- North America > United States > Texas > Permian Basin > Wolfcamp Formation (0.99)
- (22 more...)
- Reservoir Description and Dynamics > Reservoir Characterization (1.00)
- Health, Safety, Environment & Sustainability > Sustainability/Social Responsibility > Sustainable development (1.00)
- Health, Safety, Environment & Sustainability > Environment > Climate change (1.00)
- Data Science & Engineering Analytics > Information Management and Systems > Artificial intelligence (1.00)