MENAFN - Kuwait News Agency (KUNA)
North Africa Oil and Gas Summit to Share Insights on Region''s Recent Opportunistic Developments
(MENAFN - Kuwait News Agency (KUNA)) With the recent oil and gas developments across Libya, Tunisia, Algeria and Morocco, the North Africa Oil and Gas Summit will provide a critical analysis of the region to help international and national oil companies adapt their operations in accordance with the emerging opportunities.
Organised by The Energy Exchange, the North Africa Oil and Gas Summit will be held in Vienna on November 6-8 and will provide attendees with a concrete understanding of the available blocks, evolving fiscal and legal frameworks and contractual terms from strategy leaders in the region.
Elodie Huiban, Event Director, The Energy Exchange, said: "The North Africa Oil and Gas Summit is developed in conjunction with, and supported by the major IOCs (international oil companies) operating in the region.
Attendees can be sure to receive the latest up-to-date information on the hottest oil and gas topics that "are flooding the region." Representation is guaranteed at the most senior level from Algeria, Libya, Egypt, Morocco, Tunisia and Mauritania.
Libya will be one of the prime areas of focus at the conference. With revenue from Libyan oil production reaching USD 30.4 billion, a thorough analysis will be provided on whether this is sustainable, especially since earnings from oil exports account for more than 90 per cent of Libya's income.
Moreover, foreign investment opportunities in Libya will also be discussed as the country's oil and gas professionals and leaders will explore other avenues of interest, such as hydrocarbon potential, partnerships in operating at all levels in Libya, unlocking more reserves and overcoming technical challenges through the utilisation of cutting-edge technologies and innovations.
Inger Andersen, World Bank Vice-President for the Middle East and North Africa, has recently met with Moroccan officials and civil society representatives to address the country's most important challenges.
Andersen had said: "Youth make up a significant proportion of Moroccan society and tackling the unemployment that plagues their young ambitions must be a priority for all of us." She further added that the World Bank is conducting analytical work and designing projects to support the participation of young people in Morocco's economy, and to ensure that their skills match labour-market demands. Equally important is a strong enabling environment for business development and to help Morocco achieve this, the Bank is working on a new initiative to underpin economic competitiveness.
At the request of Moroccan officials and with the overwhelming support received by Morocco from the World Bank, improving social protection through the reform of the subsidy system tops the World Bank's agenda in Morocco. The collaboration between Morocco and the World Bank and its outcomes will be discussed at the North Africa Oil and Gas Summit. Speakers will explain why this country is an investment destination, the current business climate, exploration and production developments and much more.
According to the US Energy Information Administration, Egypt has proven gas reserves of 77.1 trillion cubic feet (tcf). Robert Dudley, Chief Executive of BP has recently announced the company would invest USD 10 billion in Egypt's natural gas production. Furthermore, the company's offshore gas project is expected to add 20 per cent to Egypt's natural gas production.
Speakers at the conference will provide a comprehensive analysis on the current situation and future of Egypt. A roundtable discussion will take place that will explore opportunities of Egypt being an importer or exporter of gas. It will highlight its interaction potential with Israel and launch bids for licenses in the Eastern Mediterranean basin along with updates on LNG and pipeline projects and more.
Shell has recently won a USD 150 million contract to explore oil in Tunisia. Mark Liebster, General Manager North Africa Upstream and Country Manager Tunisia, Shell is confirmed to participate at the North Africa Oil and Gas Summit, and will explore how to maintain existing business and capitalise on new, emerging opportunities to achieve a healthy economic position.
Confirmed to participate at North Africa Oil and Gas Summit include: Abdurahman A. Benyezza, Minister of Oil Gas, Libya; Dr Nurri Berruien, Chairman NOC Libya; Salim Lahsini, Senior Geologist, ONHYM; Rafaat El-Beltagy, Vice Chairman Field Development and Production, EGAS; Mark Liebster, GM North Africa Upstream and Country Manager, Tunisia, Shell; Jean-Daniel Blasco, VP EP North Africa, TOTAL; and Jaap Huijskes, Executive Board Member, EP OMV; amongst others.
The North Africa Oil and Gas Summit is the only event that covers all of North Africa and provides a neutral platform where all players can speak freely and meet decision makers on a one-to-one basis.
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