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Investors and decision-makers answer call for Iraq oilfield investment and infrastructure upgrade

Iraq: Wednesday, October 02 - 2013 @ 00:00

Taking place from 1 to 2 October 2013 at the Dubai International Convention and Exhibition Centre (DICEC), the conference was a call to action for investors and stakeholders to support oilfield production in Iraq through new investments, projects and human development and infrastructural upgrades.

Iraq is considered one of the Middle East’s most dynamic markets, with the third largest proven oil and gas reserves in the region. With 79 viable fields, of which only 23 are currently in active production, Iraq’s probable reserves could offer the global economy an additional 214 billion barrels of oil.

The closing day of the event hosted provinces breakfasts to boost upstream investment in specific provinces. The Basra Province Breakfast was hosted by H.E Mohammed Ali Taher, Governors First Deputy, Basra, while Dr Ali Salhi, Oil & Gas Committee Chairman of the Kirkuk Governing Council led the Kirkuk Province Breakfast.
The conference proceedings witnessed a discussion on dynamic solutions for the Basra Port in Iraq to improve logistics and clearance, chaired by former Minster of Planning Dr Mehdi Hafedh, who now serves as Chairman of the Progress Institute for Development Policies.

Alexander Borg, Executive Director & Regional Co-ordinator, CILT UAE moderated the panel discussion on road and air logistics, and the infrastructure required to move supplies to remote areas. Panellists recommended a list of specific decisions and plans of action to be implemented urgently.

Dr Ali Salhi also led a discussion on the best ways to professionally develop an Iraqi workforce to effectively create in-country value and sustainable development. Participants highlighted key skills gaps and reviewed best practice case studies for human resources development by oil operators.

Iraq Mega Project’s offered space to over 50 companies to demonstrate their expertise, products and services to the 1,500 visiting project managers, purchasing managers and senior decision-makers. The exhibition created opportunities for International Oil Companies (IOCs) and National Oil Companies (NOCs) to source technologies and services to facilitate production in Iraq and achieve project goals.
The CWC Technical Seminars presented companies including Lukoil, GE Power & Water Process Technologies, ABB, Emerson Process Management, DOW Water & Process Solutions showcasing best practice and technology advancements in water and power technologies for the oil and gas industry and supply chain management solutions.

“We are very pleased with the quality of delegates, speakers and visitors that attended the Iraq Mega Project platform. This year, we saw a firm commitment to investing in projects and infrastructure and incisive discussions on areas presenting strategic and operational challenges. The conference addressed key topical issues, giving delegates the best information to increase their productivity and ability to work in Iraq’s market. Iraq Mega Projects 2013 also successfully met its stated aim of being a gateway to investment opportunities in the country. We also saw a high level of stakeholder support – from IOCs and NOCs but importantly also from Iraqi decision-makers and government representatives,” said name, designation, CWC Group.

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Wednesday, October 2- 2013 @ 0:00 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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