Leaders of international oil and gas industry to meet in Dubai

The Society of Petroleum Engineers (SPE), the European Association of Geoscientists and Engineers (EAGE), the Society of Exploration Geophysicists (SEG) and the American Association of Petroleum Geologists (AAPG) - the world's four largest representative bodies of energy and petroleum professionals - have elected to move their major biennial international conference to Dubai in 2007, hosting the event at the Dubai International Convention and Exhibition Centre (DICEC).

The theme of the 2007 Conference is "A Changing World - Interdependence, Innovation, and Implementation."

Figures from the International Energy Agency suggest that primary energy demands will more than double by 2030, so the next session of the Conference will provide a critical forum for senior energy executives to discuss how they can provide sufficient supply to meet global needs.

The decision to move the event to Dubai reinforces the Emirate's position as the hub for the conferences of the world's major industries.

"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. Our societies are delighted to host the next event within the Middle East and to welcome key figures from across the energy sector," said Abduljaleel Al Khalfa, SPE President and IPTC Board member.

The IPTC brings together representatives of the world's oil and gas industries to discuss key aspects of exploration, production and distribution of natural resources and to examine solutions for the world's evolving energy demands.

The biennial conference provides a major networking and knowledge exchange opportunity for industry professionals, scientists and major stakeholders in the oil and gas industries.

"As the venue of choice for major business gatherings in the Middle East, DICEC is pleased and proud to be able to offer its facilities to host such a critically-important Conference. Effective energy provision will play a major role in the development of the world's economies over the coming years and it is inspiring that some of the ideas that will act as the engine of change will first be voiced here in Dubai," said Helal Saeed Al Marri, Director General, Dubai World Trade Centre.

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 projects that MENA oil production will increase by 75% by 2030 and natural gas production will treble, allowing more gas exports.

However, 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.

IPTC is expected to attract more than 5,000 delegates to discuss these critical issues.

The conference, which will highlight both upstream and midstream challenges for natural gas and oil, is designed to bring together the perspectives of multiple disciplines that include petroleum engineering, geophysics and geology. IPTC also features an extensive exhibition showcasing products and services for the region and the world.