Keynote Address, Prof. Ali Al Sayigh at IEF 2014
Publish Date: May 18, 2014
Author: Prof. Ali Al Sayigh
Prof. Ali Al Sayigh
Chairman of the Board
Iraq Energy Institute
2nd Iraq Energy Forum, 18th May 2014
Le Méridien Hotel, Amman, Jordan
Source: Iraq Energy Institute (IEI)
Excellencies, Distinguished Guests, Ladies and Gentlemen,
On behalf of Iraq Energy Institute and Clarion Events Middle East, it’s an honor and pleasure to welcome you all to the 2nd Iraq Energy Forum in Amman, Iraqis’ 2nd home Jordan , and for this I would like to sincerely thank the Hashemite Kingdom of Jordan for the cordial welcome, kind hospitality and support that they continued to offer Iraqis and the friends of Iraq.
I would also like to thank the Iraqi official institutions at federal and regional level for supporting this year’s Forum, in specific the Oil & Energy Parliamentary Committee, the Office of the Deputy Prime Minister for Energy, the Governorate of Basra, the Iraqi Embassy in Amman, and the various governmental and academic institutions. Needless to say, that our sincere thanks extend to all sponsors, partners and delegates, of which without their support, this event would not be possible, in specific, BP, Ernst & Young, Vinson & Elkins, National Bank of Iraq, Capital Bank, Penspen, and Power Engineering World.
Excellencies , Ladies and Gentlemen
This year’s Energy Forum is taking place at a time when Iraq has already made significant progress that we should celebrate. Since the launch of the 1st Iraq Energy Forum in Baghdad on the historic date of 12th – 12 – 2012 , and until now, Iraq has increased its daily oil production by 30% reaching over 3.2 million barrel per day, export capacity in the southern corridor has reached 6 million barrel per day, Power generation has doubled from 6GW to 12GW, the South Gas Project is progressing well to help reducing the flaring and to utilize the gas to meet local demand, and gas development in the Kurdistan Region of Iraq has contributed to the economic growth of the northern provinces, with much more to come.
Ladies and gentlemen,
It is therefore we thought to address the Capacity Building as the main theme of this year’s Forum, to sustain the delivery of Iraq’s future energy requirements and to support Iraq’s reconstruction, as well as to answer the call of energy at regional and global level while Iraq continues its mission to be a potential oil swing producer in the future.
After the recent review of production plateaus, realistic growth targets are now coming forth as the nation turns its attention upon capacity building and sustainability. The Iraq Energy Institute has since its formation in 2008 looked forward in sharing its vision of a sustainable economy in Iraq fuelled by a progressively successful oil & gas industry with the support of right decisions of those leaders and policy makers across the world.
Since 2008, our effort at IEI is well founded to support Iraq on policy matters so that it will help the country to become an energy powerhouse and a major producer in the world’s oil and gas markets. However, there is still a lot to do and hurdles to overcome in order to reach this goal but the progress to date should give us all optimism about our futures. Advising on: capital investment, improving security, adopting new technology and developing appropriate manpower are some of the challenges that we can overcome given our track record to date.
Iraq’s oil riches cannot be allowed to become our curse but must become the vehicle to deliver economic diversity while growth is shared by all Iraqis for generations to come. Therefore the prominence of capacity building and sustainability cannot be underestimated.
This Forum offers all stakeholders the right professional platform to debate issues of vital importance while addressing Iraq’s priorities. We therefore hope that your views and contributions will be heard not only in Baghdad but also by all producing regions and provinces in Iraq to help shaping Iraq’s sustainable and prosperous future.
Finally, we are delighted to be working with the Iraqi federal and regional institutions including the parliament, the executive branches of government and universities. We are also delighted to cooperate with the multinationals to support Iraq in its mission.
We wish you all a successful Forum and fruitful debate.