Dana Gas participates in the 2nd Middle East Prospect Exhibition in Bahrain
- Bahrain: Thursday, September 29 - 2011 at 10:04
- PRESS RELEASE
Dana Gas, the Middle East's first and largest regional private sector natural gas company, is participating in and sponsoring the 2nd Middle East Prospect Exhibition (MEPEX), being held under the patronage of H. E. Dr Abdul Husain bin Ali Mirza, Bahrain's Minister of Oil and Gas Affairs, and Chairman of the National Oil and Gas Authority (NOGA).
Following its successful inauguration last year, which Dana Gas has also sponsored, MEPEX brings together E&P companies and energy capital under one roof, creating a pure marketplace to establish strategic alliances for initiating and doing business deals. The regionally focused event is attended by hundreds of exhibitors and professionals in the oil and gas industry.
In his opening speech at MEPEX, Dana Gas CEO, Ahmed Al Arbeed emphasized the importance of better resources management that leads to more prosperity.
Citing the fact that the Middle East holds 45% of the world's natural gas reserves, he said, the region stillneeds to continue its investment in significantly increasing its gas reserves and production.
Al Arbeed said: "Industry estimates show gas demand in the Middle East has been rising by about 7% per year, outpacing the growth in regional gas production. Moreover, while the region sits on roughly half of the world's proved reserves of gas, it only provides 19% of the global gas supply."
Dr. Mohamed NourEldin El Tahir, Legal Counsel & Corporate Secretary, Dana Gas, also gave a speech on the recent MENA political events,and thelegal risks and challenges these events pose to regional oil and gas companies.
Dr. El Tahir highlighted the challenges posed by constitutional changes, legislative developments, and issues related to the form of governments under the new regime and their impact on existing oil and gas agreements.
MEPEX provides an excellent avenue for the buying, selling and trading of oil and gas prospects and producing properties. And Dana Gas, being the Middle East's leading private sector natural gas company, is committed to promoting and supporting initiatives and events such as MEPEX through participation and sponsorship.
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