A key Middle East energy exploration and production (E&P) conference to be held in Bahrain will this year feature a one-day money forum.

The Middle East Prospects Exhibition (Mepex) will be held from March 20 to 23 at the Bahrain International Exhibition and Convention Centre.

The forum aims to bring together the financial community to focus on the current investment prospects in the regional industry.

Bapco chief executive and Mepex chairman Faisal Al Mahroos last night outlined details of the event at a reception for 50 of the country's leading bankers and financiers.

'Mepex has established itself as the region's prime business event, which will act as a one-stop shop to conduct E&P business,' he said.

'I like to believe that such an event will contribute to introducing investment opportunities offered by the upstream sector to various interested parties in the region.

'It is a unique event that brings together E&P companies and energy capital providers in one location, creating a pure market place to establish strategic alliances for doing business and initiating purchases and trades of prospects and opportunities,' he said.

'The Mepex Oil & Money Forum has been established to create real strategic opportunities for business collaboration and investment funding initiatives.

'This will allow Mepex to create the ideal haven to nurture the accumulated expertise, financial funding and qualitative experience, which in turn, supports a unified market place and give each and every opportunity a chance to secure funding,' he added.

'After the real estate collapse, investors and bankers are looking ahead for investment choices,' he said.

'This is the time that the region should consider seriously the oil and gas investment sector and we hope that through the Mepex and the forum we pave the way for redirecting investment to this important high-return sector,' he added.

'The region has entered this industry for eight decades and yet the investment share of our region is very low,' he said.

'With this, our aim is to stimulate discussion and debates around the opportunities shown at the Mepex in a one-day forum which will host the opportunity providers, investment banks and private investors.

'I invite strong participation from investment banks and private investors and make this addition to Mepex successful gesture,' he added.

Al Mahroos said that 2009 marked the first year when spending on drilling and completion activity around the world exceeded traditional markets in the US and Canada.

That made the Middle East the centre of gravity for oil and gas investments.

'There is little doubt that opportunities in the Middle East are generally of greater scale than the majority of plays in the US onshore market,' Al Mahroos added.

'Average returns for companies with operations in North Africa, the Middle East and Central Asia is 41 per cent compared to average return of 13 per cent for companies focusing on North America,' he said.

'Mepex is strategically positioned as the main business event that encompasses the exploration and production sector, and it will aim to present the best investment opportunities the sector can offer,' he added.-TradeArabia News Service