Record 46,000 visit International Petroleum Technology Conference in Dhahran.
HRH Prince Saud Bin Nayef bin Abdulaziz Al-Saud, Governor of the Kingdom’s Eastern Province (center right), HRH Prince Abdulaziz bin Salman bin Abdulaziz Al-Saud, Minister of Energy (left), HRH Prince Saud bin Bandar bin Abdulaziz Al-Saud, Deputy Governor of the Eastern Province (right), and Amin Nasser, Aramco president and CEO (center left).
Saudi Arabia’s Energy Minister and Aramco’s corporate management have stressed the critical role of oil and gas in the future energy mix, while underscoring the need for both a reduction in emissions and lower carbon energy at a major conference hosted by the company in Dhahran.
Energy affordability and security were also among the hot topics of discussion at the opening of the International Petroleum Technology Conference (IPTC) at Dhahran Expo — the largest petroleum and technology conference in the eastern hemisphere — under the patronage of HRH Prince Saud Bin Nayef bin Abdulaziz Al-Saud, Governor of the Kingdom’s Eastern Province.
HRH Prince Abdulaziz bin Salman bin Abdulaziz Al-Saud, Minister of Energy, said at the event that the Kingdom is in a historical phase of transition, and that investments would continue in the energy sector to achieve a practical balance with an emerging lower-emission energy blend.
Global Energy Demand
Aramco’s Upstream president, Nasir K. Al-Naimi, opened the three-day conference, which featured an exhibition and technical program, and said that pressure on the supply chains for alternative energy sources had shown the continued importance of oil and gas in meeting global energy demand.
“These developments have prompted many countries to re-examine their energy transition plans, and we finally sense a shift toward a more balanced approach — one that recognizes the wisdom of building the new before discarding the old.
“Predictions about our industry becoming obsolete have been replaced by a much healthier debate around energy affordability, security, and sustainability.”
— Nassir K. Al-Naimi
He added that the door is “now open” for the industry to demonstrate that it can deliver reliable energy today and also contribute to the lower carbon solutions of the future.
Al-Naimi urged a collective approach within the sector to forge a future-facing oil and gas industry.
“The responsibility is on us to ensure the world has a secure supply of affordable energy through timely investment in oil and gas, while working on lowering the carbon emissions of conventional energy through technology and innovation,” he said.
“Our shared mission is to reduce emissions and pave the way for a more sustainable energy system,” Al-Naimi added. “In other words, to achieve an ‘emissions transition’ rather than an ‘energy transition.’”
Harness Technologies
To achieve this, Al-Naimi added, the industry must harness cutting-edge technologies such as artificial intelligence, the Industrial Internet of Things, and powerful supercomputers. He said that the IPTC provided a platform for the sharing of ideas and collaboration — focused on the sharing of knowledge, best practices, and multi-disciplinary activities designed to highlight the importance of the value chain and the maximizing of asset value.
It is sponsored by four industry organizations and societies: the American Association of Petroleum Geologists; the European Association of Geoscientists and Engineers; the Society of Geophysicists; and the Society of Petroleum Engineers.
Energy Investments
In a panel dialogue, Aramco’s executive vice president of Strategy and Corporate Development, Ashraf A. Al Ghazzawi, explored “Energy Investments — Toward a Stable Global Economy” with the chairman and CEO of EIG, R. Blair Thomas, the CEO of TAQA, Khalid M. Nouh, and WPC Energy’s president, Pedro Miras.
Founded in 2005, the IPTC has an expansive program and attracts technology and energy experts from across the globe.
— The Arabian Sun: February 15, 2024