Dubai will play host to next year’s Red Sea Oil & Gas Summit set to take place on the 23rd and 24th of February.
The summit will bring top industry experts and region’s key players under one roof to discuss investment, exploration and production opportunities in the Red Sea including Egypt, Yemen, Saudi Arabia, and Jordan.
International and national oil companies’ representatives will address questions about onshore and offshore opportunities in the region, upcoming projects, latest strategies and regulations.
The Summit organisers – business intelligence group International Research Networks, said: “The Red Sea Basin has proven to be rich in hydrocarbons and represents a major transit point between Asia, Europe and Africa”.
“The prospect of multiple offshore fields combined with the development of major onshore processing hubs is attracting more and more international companies looking for opportunities in the Red Sea region.”
The summit is also set to discuss commercial opportunities for companies that have deep-water exploration technology or expertise from the North Sea and the Gulf of Mexico.
With their geographical position such companies could be prospective partners for Saudi Arabia.
“There have already been three oil and gas discoveries over the past year and there is an entire construction plan in place to facilitate extraction operations and energy transportation,” a spokesperson for International Research Networks said in a press release.
They added: “Yemen shares the same frontier basin with Saudi Arabia but there have been no wells drilled so far. Considering that out of 421 wells drilled in the country, 55 are producing fields, the likelihood of more commercial discoveries in Yemen’s waters is extremely high.”
The business intelligence group will also aim to raise awareness about shallow waters opportunities in the Red Sea in Egypt.
An interesting offshore investment plan was also announced in Djibouti, in Egypt after drilling took place a few days ago.
