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Summit to discuss future of oil, gas industry

Manama, October 12, 2011

Business leaders and oil and gas specialists from across the GCC will converge in Abu Dhabi to discuss the future of oil and gas industry at a major conference on October 19.

The conference, sponsored by global audit, tax and advisory firm KPMG, will see more than 120 delegates from six countries debate on key energy issues, said the organisers.

Bahrain-based KPMG partner Wirtschaftspruefer Ernst Weber said, the conference will provide an excellent opportunity for the region's top energy stakeholders to discuss the complexities in the oil and gas industry.

'KPMG is proud to organise the first energy conference in Abu Dhabi and, underscores the firm's growing role across all spectrums of energy sector in the region,' he said.

The conference will discuss the future of oil and gas industry in an uncertain world and bring to light the global currents within this industry.

'Hydrocarbons continue to dominate the energy mix for industries and consumers alike. On the other hand, a multi-year, global de-leveraging process is underway which may slow down demand for oil at current price levels.'

'As oil and gas exploration, production and distribution companies navigate through this period of uncertainty; they have many complex questions to answer.'

He said they would debate whether to pursue high-risk exploration strategies in frontier territories or whether it would make more sense to drive strategic investments beyond hydrocarbons into alternative energy sources?

They also had to address the issue of should integrated oil majors split their upstream and downstream operations to unlock shareholder value and question, given the macro-economic headwinds should refining and distribution capacity be expanded or put on hold.

Speakers from Opec, Adnoc, Adma-Opco, Horizon Energy, Shell and KPMG will discuss issues as wide ranging as performance management, cost optimisation, entrepreneurship, sustainability and transactions.

The conference will also include panel discussions, where the future role of gas in the GCC context will be one of key issues.-TradeArabia News Service




Tags: KPMG | oil and gas | industry | Summit | future | Abu Dhabi summit |

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