Petroleum companies look to future

The global shift in foreign investments will be discussed by Eastern Hemisphere industry professionals at next month's International Petroleum Technology Conference, who hope to increase daily production by improving and innovating production methods and by funding a wide range of sustainable energy projects.

"Rather than try to dampen down the energy needs of emerging markets such as India and China, we need innovative production strategies that can satisfy them," said Saif H. Al Hinai, Oil Director - Northern Assets, Petroleum Development Oman. "With IPTC participants set to discuss everything from well cycles to facilities management, it's clear we are well-placed to advise the industry on how to maximise the returns on its investment."

Market experts also predict an exponential growth in the region's investments as petroleum companies, already equipped with the technology and the knowledge that the changing market requires, integrate the development of sustainable resources into their overall strategy and portfolio.

IPTC delegates will hear that foreign investment includes a search for more sustainable forms of energy, in addition to the exploration of new reserves of oil to circumvent future problems.

IPTC 2007: A Changing World - Interdependence, Innovation and Implementation will take place 4-6 December at Dubai International Convention and Exhibition Centre.