Q&A

" Carbon markets post 2012…. In the current climate, it is impossible to see increased expenditures for environmentally advanced projects without a sound financial model. The Eurozone turmoil is controlling the bulk of emission reduction demand, and as a result I am working on designing new market based systems that are less dependent on EU and more fit for the GCC’s business approach."

Ivano Ivanelli
CEO, Dubai Carbon Centre Of Excellence, UAE

" Security of supply of energy to our stakeholders. Our sector is vulnerable to:
Geopolitics: causing fluctuation to oil price and logistics
Safety aspects: which are partly inherent to our operation and partly external
Financial Markets: affecting the cost of goods and services."

Zaid Khamis Al-Siyabi
Director General of Oil & Gas Exploration & Production, Ministry of Oil & Gas, Oman

" Providing cheap, efficient energy resources and
development of local industries and manpower."

Yousuf Al-Ojaili
Chief Executive Officer, Oman Gas Company, Oman

" We live in a rapidly accelerating world that has profoundly changed over the last decade – the US shale gas miracle that has changed the face of the global LNG trade, the rise of China and Russia, events in Japan and in our region and the oil price is establishing one record after another. Our biggest challenges are to address the energy needs of seven billion people on this planet, regulatory obstacles and to tackle climate change. e last ten years will probably be remembered for the speed with which long held assumptions about the energy sector have been challenged. I frequently repeat to myself what Henry Ford said about the invention of cars : “If I had asked people what they wanted, they would have said faster horses” and ask what is it that we can create to address our challenges efficiently and to change our sector for the better."

Badr Jafar
President, Crescent Petroleum, UAE

" Diversification. The overall oil and gas culture is rather conservative,
but there is a wealth of knowledge that can be utilised to develop
new processes and activities in line with the evolving socio-environmental profile."

Ivano Ivanelli
CEO, Dubai Carbon Centre Of Excellence, UAE

" In my view, we need to create an integrated energy market
that will serve a win-win situation for both suppliers and consumers."

Zaid Khamis Al-Siyabi
Director General of Oil & Gas Exploration & Production, Ministry of Oil & Gas, Oman

" As much as possible exploration of local gas resources, even at higher costs."

Yousuf Al-Ojaili
Chief Executive Officer, Oman Gas Company, Oman

" There is no magic recipe. Just like in nature, evolution happens sporadically and unpredictably: those who fail to embrace innovation and adaptability will disappear in the end. Only by ensuring that we drive innovative thinking and progress in this generation can we hope to improve our position and that of the next generation. What can better demonstrate this point than the recent rise of shale gas in the US and the wider LNG revolution? e private sector and the entrepreneurial spirit created the shale gas revolution in the US, and we could all learn from this example."

Badr Jafar
President, Crescent Petroleum, UAE

" As the value increases, new fields become economically viable. 
There is a large focus on technology as a means to further improve the
process and a cultural shift towards fuel sources less GHG intensive."

Ivano Ivanelli
CEO, Dubai Carbon Centre Of Excellence, UAE

"There are different challenges for different blocks of West Asia.
When it comes to energy issues, some have issue with security of
energy supply, while others have security of demand for energy."

Zaid Khamis Al-Siyabi
Director General of Oil & Gas Exploration & Production, Ministry of Oil & Gas, Oman

" Increase demand for gas, while gas prices in the region are on the rise."

Yousuf Al-Ojaili
Chief Executive Officer, Oman Gas Company, Oman

" We all know that life is not perfect and though we as an industry have changed the face of West Asian – and the global – energy sector, there are still some substantial challenges ahead of us. Even now we live amid ongoing socio-political tension in West Asia which will undoubtedly have wider implications for many of us. e challenge is to demonstrate to the world how we made our resource base serve the balanced, diversified and sustainable development of our region for generations to come. We have been blessed with an enormous reserve base and, as wise people say, with great power comes great responsibility. It is our task to ensure that we use our unrivalled position in the energy sector wisely and show other energy players how they can avoid the “oil curse” that continues to plague some of our peers in other regions – to counter the view that a great resource base is a handicap against having a diversified economy."

Badr Jafar
President, Crescent Petroleum, UAE

" Rather than focusing on production, demand side
activities are now seen as a more reliable approach."

Ivano Ivanelli
CEO, Dubai Carbon Centre Of Excellence, UAE

"The ME holds the biggest resource holders of both oil and gas. 
The region should work on the above-cited issues to increase its share and fast.
Moreover, the demand for better standards of living and employment
opportunities will trigger a leap of increase in local consumption."

Zaid Khamis Al-Siyabi
Director General of Oil & Gas Exploration & Production, Ministry of Oil & Gas, Oman

" There has to be more local gas based developments and less exports of raw gas.
The region is facing challenges in employment of its local population and
the only way to attack this problem is by developing local job opportunities."

Yousuf Al-Ojaili
Chief Executive Officer, Oman Gas Company, Oman

" First, the current system of subsidies for energy products in the region has a hugely distorting effect. One of the best ways to encourage new production and ensure it is more efficiently used is to price gas and oil products at market rates. Current sales prices are often below the cost of production so developing new resources is slower than desired. Despite the upfront cost of removing subsidies to consumers the economic benefits would quickly flow back and ensure that society is better off. Second, our region is dominated by NOCs but perhaps a more substantial involvement of private sector could also increase the number of stakeholders in the region and help pushing the energy agenda to less explored and more innovative frontiers. e shale gas phenomenon in the US was driven this way; smaller independents showed the sector a new direction and the majors and others then followed. Lastly, we probably need more pipeline infrastructure, as indicated by recent debates concerning the Straits of Hormuz and projects involving various pipeline projects to take gas to Europe from the Caspian region and Russia. e more interconnected, competitive and open market West Asia’s energy system the more likely it is to grow and robustly respond to the changing international energy landscape."

Badr Jafar
President, Crescent Petroleum, UAE

" To structure an economic model where I can demonstrate the economic
viability and dependency of aviation allowances to other industries such as oil and gas, energy and industry."

Ivano Ivanelli
CEO, Dubai Carbon Centre Of Excellence, UAE

"Safety of people and operations."

Zaid Khamis Al-Siyabi
Director General of Oil & Gas Exploration & Production, Ministry of Oil & Gas, Oman

" Opportunities in the gas value chain and how to capitalise on them."

Yousuf Al-Ojaili
Chief Executive Officer, Oman Gas Company, Oman