Bahrain’s Oil Minister Shaikh Mohammed bin Khalifa Al Khalifa has stressed the urgent need to attract youth to take over the leadership of the oil sector in the future to come.

 

This requires investment in the development of competencies of the human capital in accordance with international standards, he said inaugurating the 13th Middle East Geological Sciences Conference (GEO 2018) at the Ritz Carlton Hotel, Bahrain.

 

His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa had deputised the oil minister to inaugurate the event.

 

GEO 2018 is being held under the patronage HRH Prime Minister Prince Khalifa bin Salman Al Khalifa under the slogan "Push the Technical Boundaries: Drawing the Image of Energy". It is organised by UBM- Arabian Exhibitions and AAPG in collaboration with Noga. 

 

The associated 6,000-sq-m exhibition of industry products and services was opened in a separate ceremony by the Deputy Prime Minister Shaikh Ali bin Khalifa Al Khalifa on Tuesday at the Bahrain International Exhibition and Convention Centre.

 

More than 100 companies from 19 countries are in attendance at the exhibition, which runs till March 8. The global showcase features key stakeholders, major players, suppliers and service providers in the oil and gas exploration and production sector.

 

Shaikh Mohammed commended the efforts led by the National Oil and Gas Oil Authority (Noga) and its subsidiaries to adopt a comprehensive succession plan for the oil and gas sector in Bahrain. 

 

He expressed pride at the discovery of oil in Bahrain in 1932, the first producing country in the Arabian Gulf region. Since then, the oil sector has been operating according to a clear strategy to involve the private sector in implementing and managing oil projects. 

 

Noga and its subsidiaries are carrying out many vital projects that support the development of this important sector. The modernisation project of Bahrain Refinery is one of the strategic projects in  Bahrain, he said. 

 

The Bapco Modernisation Project (BMP) aims to enhance the competitiveness and profitability of the kingdom’s 82-year-old refinery and to continue to contribute to the development of the national economy by increasing production, he said.

 

Meanwhile, the construction and modernisation work of the A-B pipeline between Bahrain and Saudi Arabia is proceeding according to plan and budget, Shaikh Mohammed said.

 

He said Noga pays great attention to making the Kingdom of Bahrain an international centre for international oil conferences and exhibitions and is keen on the participation of international oil companies in exhibitions.

 

The conference is attended by a large number of officials, chief executive officers of national and international companies, engineers and professionals, specialists and scientists, as well as researchers, academics, universities and university colleges and research institutes from around the world to discuss and shape the future of this vital industry, build capacity and skills and communicate with experts and specialists. 

 

He underlined the international reputation of the Middle East Geological Sciences Conference and Exhibition series since its inception in 1994, which contributed significantly to increasing the number of participants from all over the world in its 13th edition to find out about the latest developments in science and technological inventions related to various exploration issues in the sector.

 

He highlighted the outstanding role played by GEO in the exchange of expertise and knowledge and best practices in the Middle East and the world among those interested in this vital field, which is a real opportunity to develop resources in a correct and effective and safe form and manner of high awareness and responsibility.

 

He also pointed out that this series of conferences and exhibitions contribute to the competitiveness of the academic communities in the research fields, which help the exploration and production companies to use the best improved resources to develop the operational performance, in addition to opening channels of business partnerships, developing technological supplies and rehabilitation of human resources and work to create a suitable working environment.

 

"The Arabian Gulf is home to the world's largest oil and gas reserves. The challenge is to combine technology, business and human resources in a way that will enable us to produce these supplies successfully and deliver them to the market efficiently, which requires participation between industry, government and consumers, considering supply and demand," he said.

 

He said that the oil industry in the region is seeking to develop high-tech industrial initiatives and provide the best incentives for exploring difficult oil; and cooperate with the relevant support services companies to find innovative solutions to the challenges of this vital and important sector. 

 

Former Saudi Minister of Petroleum and Mineral Resources and chairman of the board of trustees of Kaust Ali Al-Naimi spoke about the defining trends that frame the current environment of the oil industry in the region.

 

Ahmad Al Eidan, GEO 2018 chairman and Kuwait Oil Company’s Drilling & Technology Directorate deputy chief executive officer, said GEO is a bright spot for the region and the industry alike.

 

“As we are all aware, the oil industry is still going through challenging times and despite a number of attempts to call the bottom of this current cycle there are no clear signs yet when conditions will significantly improve,” said Al Eidan.

 

“The impact of unconventional reservoirs on oil and gas production has changed the dynamics of the market and as a result, technological advancements are key in finding and producing hydrocarbon reservoirs in an efficient and cost-effective manner. Examples of opportunities are in areas of improving recovery factors beyond the current levels, increasing fracturing efficiency in unconventional reservoirs, and introducing drilling automation, which altogether should lead to a future of sustainable energy under the current market environment,” he added. -TradeArabia News Service