Basra International Oil&Gas Conference and Exhibition 2010

International Basra Oil and Gas Conference & Exhibition will take its place as the first and foremost gas and oil exhibition of the region between 26 – 29 November 2010.

An unexplored oil source : Iraq

Iraq's oil exports have reached an average 2.1 million barrels per day in July. The finance minister said, putting them on track for the biggest month since 2003.

Exploring Iraq's true natural resources, modernizing its oil and gas industry is the single and most expensive project of the world at least for the next decade. Basra Oil & Gas as the first will be a unique meeting point for interested parties to achieve the results of this project.

Why Basra ?

Iraq has the worlds largest oil reserves estimated to be more than 360 billion barrels, and most of it from Basra (71 % of all Iraqi reserves). Moreover, 80% of these reserves are unexplored.

There are 4 big advantages to invest in this region: Large oil and gas reserves, low cost of oil production, oil fields are located across Iraq, and also the oil export routes are many and can go through several directions such as the Gulf, Turkey, Syria, Saudi Arabia, Iran, Jordan and Kuwait.

The International Energy Agency estimates that world demand will increase from the present level of 85mn b/d to 116mn b/d in 2030. In other words, in the next 23 years the global demand for oil will increase by about 30mn b/d. How will this increase be met and by whom?