While markets and regulators demand increasingly cleaner fuels, light and sweet crude reserves are declining and much of the world's supply is shifting to heavier and more sour resources. For refineries, this poses the problem of when, how much and exactly where to invest in the conversions and upgrades that will help them remain competitive in a rapidly evolving industry - and capitalise on the right balance between light product and low-quality crude supply. Given that this is a marketplace that refines more than 80 million b/d and that the price per barrel has risen to over $100, this is a multi-trillion dollar industry that has a variety of solution providers vying to meet the needs of the downstream marketplace, namely refineries.
The Next Generation Oil and Gas group (NGO&G) is a consortium of 65 CEOs and senior Corporate Officers from small, mid, and large cap O&G producers who are active in their companies on a strategy level, but also have an eye for next generation technologies. Together with GDS, the NGO&G group organizes highly interactive 3-day strategy sessions. The summit combines high-level roundtable discussions with next generation technology solutions that address the most pressing challenges the industry faces. The format is structured enough to effectively organize roundtable discussions on all the most pressing topics, but open enough to allow for changes that will inevitably occur when 65 industry leaders interact over 3 days.
Asia Pacific is placing huge demands on the world's energy resources - and with its increasing oil and gas reserves the ANZ region is placed better than anybody to take advantage of the regions vast thirst for resources. The Oil & Gas industry is a major contributor to the Australian economy. Accounting for almost four per cent of the total GDP and generating an estimated revenue of A$45.1 billion and A$38.6 billion respectively, it's clear to see why the region is exciting E&P companies the world over.
The Next Generation Oil & Gas Summit Africa serves as an arena for senior level executives to engage in clear and focused dialogue with their peers and examine their management objectives in a relaxed and vibrant environment.