No threat to oil, says expert
Manama : Despite the progress and growing relevance of renewable energy, oil and gas will continue to play a huge role for decades to come, the president and Chief Executive Officer of Saudi Aramco Amin H. Nasser said yesterday.
Renewable energy is not a major threat to the oil and gas industry in the short-term or in “the decades to come”, Nasser assured as he addressed energy experts gathered at the 20th Middle East Oil and Gas Show and Conference.
According to him, renewable energy will play a positive role but the oil and gas industry will continue to prosper regardless.
“Renewable energy has a place definitely, it is growing and is being adopted. Their market-share will increase with time and they will play a role but I am sure that oil and gas will continue as it is for decades to come. So this is why we encourage investments to the oil and gas sector, the industry is vibrant and will play a major role in the long term,” he said, adding, the investments for the projects must come today because it takes at least a few years for the projects to materialize.
Over 2000 oil and gas professionals participated at the opening session of MEOS that was held at Ritz Carlton Hotel yesterday. The event, which runs until March 9 is expected to attract over 8000 attendees over the course of four days. Over 270 papers will be presented during 50 technical sessions covering topics related to reservoirs, production and facilities, exploration and appraisal, drilling and completions, project management, human resources and business models. The agenda at MEOS also includes an executive plenary session featuring leading industry figures discussing the conference theme “Transforming the industry through innovation and operational excellence”, an industry keynote session entitled ‘Oil Price Volatility: Continue Investing in the Future to Meet Future Demands or Control Cost to Survive?,’ six panel sessions discussing important matters relevant to today’s industry, and a special workshop entitled ‘Women in Leadership — Invest, Initiate, Innovate’ with influential speakers.
Minister of Oil and Chairman of National Oil and Gas Authority Shaikh Mohammed bin Khalifa Al Khalifa lauded the role played by MEOS. “Conferences are where professionals are able to share their ideas and discuss and collaborate. I would like to congratulate the conference organising committee co-chaired by Nabeel I. Al Afaleg of Saudi Aramco and Khalid Ahmed Al Qubaisi of ADMA-OPCO,” he said.
Society of Petroleum Engineers (SPE) President Darcy Spady assured that the Middle East region will have a special attention from the SPE. Speaking about how the oil and gas industry is changing, he said, “In our lifetime we have seen major changes in the industry, the drilling changes has been massive. We have seen great advancements in deep-water explorations etc, so my question is what will the younger generations invent. Our mission at SPE is to enable the oil and gas industry to share the knowledge needed to fulfil the worlds energy needs in a safe and environmentally friendly manner,” he said.
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