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July 4, 2008
The four days at the conference has just flown by. With all the information being provided it’s really hard to take in what an amazing experience this has been.
The morning session opened up with a special address on the topics of accessing reserves and investing in infrastructure as well as societal expectation of the oil and gas industry. The speakers from this session included the CEO of Schlumberger, Petrobras and Chevron Corp. Following these session there was a series of ministerial forums where I heard from the Honorable Minister Gary Lunn and the Minister of Energy for Alberta, Mel Knight. The session as a great overview of the Canadian energy industry and gave the audience a snapshot as to the development that will potentially take place in Alberta and Canada in years to come.
Another great session (one of my favorites of the week) was the Special session focused on a potential industry makeover for the oil and gas sector. The session was moderated by a good friend, Leor Rotchild, and engaged three youth delegates and included a group of leading CEO’s from industry. I was thoroughly impressed by the discussion that took place during the session and really thought it added extreme value to the overall conference. The group discussed issues related to women in the workforce, the industries bad image and issues related to retaining and engaging youth in the industry. The day closed with a great closing ceremony by the Qatar 2011 organizing committee and a reception at the outside of the conference area.
Key takes from the conference:
#1 – CCS investment and implementation is going to be necessary in years to come. Head of the IEA stated that by 2010 countries around the world have committed to 10 commercial scale CCS projects.
#2 – NOC’s vs. IOC’s – with high oil prices, countries are wanting to protect their reserves (oil) therefore putting stricter rules on foreign investments by IOC’s. The challenge lies in the fact that NOC’s may not have the expertise and capital to ensure a sustainable supply of energy for the future. Therefore, more cooperation from NOC’s and IOC’s needs to take place.
#3 – Major Demographic Crunch – How are we going to fill the gap?
#4 – The future energy mix – what role are renewable’s and unconventional’s going to have in the future energy mix?
Again I must say the experience was unlike anything I have done before. Having networked and interacted with individuals from around the world and having the opportunity to learn about new concepts facing the oil and gas sector was a great experience that will never lapse to leave my mind.