By Sachin Kumar
DOHA: Minister of Energy and Industry H E Dr Mohammed bin Saleh Al Sada said yesterday that the current decline in oil prices should be the beginning and a motivation for reducing both capital and operating cost.
It requires more understanding and partnerships in the field of technology, taking into account the technical, commercial and environmental challenges that are related to the exploitation of energy sources, he said, while addressing the opening session of the ninth International Petroleum Technology Conference (IPTC).
The minister underlined the importance of technology and cooperation among the concerned bodies with the future of sustainable energy in the global energy market. He said the market is changing, and this change is expected to have far-reaching implications. For example, it led to a growing interest in the search for alternative and renewable sources of energy. Therefore, consuming nations will seek to secure supplies of energy through contracts and partnership agreements in new production projects.
He underlined that all oil companies in the world need technology to reduce the cost, but they need at the same time a fair price in order to continue investment and efficiency. He added that the conference, which is being held in Doha for the fourth time, is held this year under the slogan “Technology and Partnerships for a Sustainable Energy Future” in line with the Qatar National Vision 2030, which supports the protection of environment and progress through the sustainable development of the country’s natural resources.
The Minister said the conference will discuss the issue of climate change as a complicated global challenge that requires constructive and effective dialogue among all parties concerned with energy affairs.
The Minister also shed light on Qatar’s commitment to preserving the environment as one of the main elements in the state’s National Vision, referring to a number of initiatives undertaken by the state in this regard.
The Minister said at the the meet that the conference focuses on technology, but it will also cover key energy issues, such as climate change and the role of technology in reducing capital and operating costs of major projects around the world, and this is important especially in the light of falling oil prices.
The conference is the largest multi-society, multi-disciplinary oil and gas event in the Eastern hemisphere and is expected to see participation of about 5,000 oil and gas professionals.
Over the next three days, professionals from over 450 companies and 50 countries will gain valuable insights from high-profile industry leaders, get the latest updates from a comprehensive technical programme with over 230 papers discussed that were carefully selected after a strong selection process from over 1,500 submissions.
Participants will also experience a showcase of leading-edge technology and innovations at the event’s exhibition.
The Peninsula
