Organised by The Energy Exchange, the seventh annual North Africa Oil and Gas Summit will take place from 6th to 9th November 2012 in Vienna, Austria. The Summit will assess commercial priorities, investment climate, challenges and opportunities for all parties involved in the oil and gas sectors in the North African region.
High level representatives from African governments, ministerial departments, NOCs, IOCs, contractors and technology providers will convene to discuss efficient strategies to capitalise on the numerous opportunities in the region’s oil and gas sectors. Discussions at this premier conference will focus on lucrative means to enhance production from existing fields in the rapidly developing North African region.
Attendeesof the North Africa Oil and Gas Summit will develop a clear understanding of the available blocks, evolving fiscal and legal frameworks, and contractual terms from strategy leaders of Algeria, Libya, Morocco, Egypt, Tunisia and Mauritania.
The aforementioned countries are experiencing a significant influx of investment to develop their oil and gas sectors. TheOffshore Hydrocarbons Report by IFP Energies Nouvelles reports that Africa will receive USD 70 billion investments in the period of 2011 – 2015.
There are several opportunities to take advantage of in Algeria. Dr. Youcef Yousfi, Minister of Energy and Mines, Algeria, recently announced the USD 12.39 billion investment in five new refineries, which once completed will raise Algeria’s current oil refining capacity from 26 million tons to 30 million tons.
In addition, according to Mr. Abdelhamid Zerguine, CEO of Sonatrach, hydrocarbon reserves are evaluated at four billion tons of oil equivalent, making Algeria one of the prime locations in North Africa to invest in.
Furthermore, the Summit will provide a comprehensive analysis of the possible future of Libya highlighting how both local and international oil and gas companies plan to begin or enhance operations in this oil rich nation.
BP states that Libya holds the highest oil reserves of Africa with 46.4 billion barrels.Moreover, Libya has 1.5 trillion cubic metres of gas reserves but there has been no exploration for this feedstock in the past according to the Libya Special Report published by Newsbase in April 2012.
ElodieHuiban, Event Director,The Energy Exchange,said: “The North Africa Oil and Gas Summit will provide attendees with a comprehensive understanding of how the region’s oil and gas sectors are evolving along with the latest technologies to enhance production. Furthermore, it will provide access to first-hand information from key industry speakers. They will deliver in-depth presentations and participate in interactive panels and roundtable discussions on how to make the best use of resources to attain a significant return on investment.”
Confirmed to participate at this year’s North Africa Oil and Gas Summit include: Abdurahman A. Benyezza, Minister of Oil and Gas Libya, as well as representatives from international organisations that include: OMV, Shell, TOTAL, BG Group, REPSOL, Polish Oil and Gas Company, and more.
Mr. Jacek Gutowski, VP of the Board of Directors, Polish Oil and Gas Company – Libya B.V., North Africa Oil & Gas Summit Steering Committee member and key speaker said: “It is a great opportunity to meet all the players taking part in the plays within oil and gas exploration and trade. You can meet all the representatives from the countries, you can confront your opinions and you can express what you want to do and your position in negotiations.
“The most important part of a conference is behind the official meetings for me. It is the opportunity to meet and make friendships with different people. This makes our work in oil and gas exploration in this part of the world easier.I would say that this is one of the best conferences I have ever attended which is why we have decided to be a part of it.”