Istanbul to host conference on Iraq’s energy sector

Returning for its third annual meeting in Istanbul, Turkey, ‘Iraq Future Energy 2012’ will bring together Government officials and representatives from International Oil Companies (IOCs), to collaborate on how to build a successful and lucrative energy sector in Iraq. Organised by the Energy Exchange, Iraq Future Energy 2012 will be held from 17 -20 September 2012. Day one of the conference will commence with a focus on the growing need for electricity in Iraq. At present, an estimated 8,000 Mega Watts (MW) of electricity is being produced, when in fact an estimated 14,000 MW is needed. In 2011, Iraq announced its electricity master plan of spending $27 billion from 2012 to 2017. The latest update on the implementation progress of the short term plan to rehabilitate and expand the national grid by 2015 will be unveiled at this Electricity Summit. Additionally, infrastructure challenges with regards to power generation as well as imports and exports with neighbouring countries will be discussed, along with feasible alternatives and solutions. The main oil and gas conference begins on day two of Iraq Future Energy 2012 and will open detailing further E&P plans and upcoming bid round and its impact on the Iraqi oil, gas and power sub-sectors. Furthermore the outcome of the fourth bid round for 12 exploration blocks in April 2012 along with the implications for pre-qualified IOCs and future projects will be discussed. Jinanda Sheth, Event Director, The Energy Exchange, said: “Iraq has set a goal of reaching a target production capacity of almost 12 million barrels per day by 2017, however the lack of adequate infrastructure significantly inhibits growth. From gulftoday