Gulf Petroleum Forum, April 7-8 in Kuwait

The Second Gulf Petroleum Forum will be held in Kuwait April 7-8 with a view to keep abreast with the regional changes and their impact on world oil markets given the strategic importance of the Arabic Gulf countries, said chairman of the forum's organizing committee Dr. Jasem Besharah on Saturday. In a statement issued in connection with the arrangements being made for holding the forum, Dr. Besharah said that, in light of the oil potentials and economic capabilities of the countries of the region as a key player in global oil markets, the Gulf Petroleum Forum will be held with a view to explore future potentials and highlight the opportunities to specialists and investors through the main events of the Forum. Dr. Besharah emphasized the vital importance of future plans for developing and expanding the oil sector in Kuwait. He indicated that the Forum will give particular attention to this important sector and added that the GCC countries were particularly important to any thing related the oil, gas and petrochemical industries as they contribute one quarter of the world's oil and 20 percent of its natural gas supply and own 40 percent of the world's oil reserves and 15 percent of the world's gas reserves. Dr. Besharah emphasized that the Forum reflects the genuine attention being given to the Gulf oil sector development plans and provides the global energy companies with the opportunity to keep abreast with the latest developments in the oil sector in the Arabian Gulf region in general and the works that will be covered by mega projects in Kuwait in particular. He went on to say that the Forum -- which will be attended by a large number of interested parties, experts, decision makers and specialists, both local and international, in the areas of oil, gas and petrochemical industries and key personnel from regional and international organizations -- will present and discuss the main developments seen by this sector. The Forum will also discuss the challenges in various areas and at various levels. In addition, it will discuss the future developments of this sector. Dr. Besharah added that the Forum -- as it attracts the major companies operating in this vital sector in order to present the latest developments of their various activities and introduce their current and future projects -- will be an important event for both the public and private sectors as it strengthens and develops opportunities and means of cooperation among the GCC countries. The Forum will have several main themes closely related to the oil, gas and petrochemical industry from the technical, economic and commercial aspects, and will highlight the role of this industry in the comprehensive development process currently being witnessed by Kuwait in particular and by the Gulf Cooperation Council countries in general. The Forum includes a number of workshops to be presented by experts and specialists from inside and outside Kuwait, allowing the participants the opportunity to familiarize themselves with the latest technical, scientific and economic developments witnessed by the oil sector, given the fact that the importance of the Forum is derived from the vital role played by Kuwait and the GCC countries in the world oil sector, as this region owns the largest world oil reserves and seeks to acquire state-of-the-art technologies in the fields of exploration, drilling, transport, and export.