Basra International Fair Ground
25 – 28 November 2010
Iraq is opening its doors. International Basra Oil and Gas Conference & Exhibition will take its place as the first and foremost gas and oil exhibition of the region. Events will have support from Iraq Government.
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.
Given these advantages, Iraq can expand its oil production rapidly and supply the international oil market with substantial amounts of oil exports. Considering the above possibilities of Iraq can make use and benefit from the future development of the international oil market and especially the future rapid increase in the global demand for oil. 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?
Most of the world oil reserves (1,200bn barrels) are located in OPEC countries with its share reaching 76%. The Gulf countries’ share (Iraq, Iran and GCC states) is 62%.Therefore, there is a concentration of global oil reserves in a few countries, namely in the Gulf region including Iraq.
PR campaign has already started with ministries. Conference aims to cover macro dynamics of oil and gas industry in Iraq; emphasizing opportunities, challenges, and affects of projects. The governmental authorities, national oil and gas companies, recognized names of the industry will be involved with their speeches. Lunch, dinner and cocktail programs, along with other sponsorship opportunities are available.
Basra is ready and wants your business. There is no alternative for these events in the region. Participants of the first year will have a priority for the next years. Space is limited and interested companies are urged to register early.
Basra: logistical hub of Iraq
Basra has no less than 70% of Iraq’s oil reserves but what makes Basra crucial is not just the oil reserve in the region but also its strategical location which is an attractive logistical port for the international companies. The city is located along the Shatt al Arab waterway near the Persian Gulf and defined as the southern gateway of Iraq.
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 Al Basrah Oil Terminal is the main Iraqi oil terminal for off loading oil from Iraq. It accounts for approximately 80% of their GDP on a daily basis and receives an average of 6 tankers per week and pumps around 1,5 million barrels of oil a day.
Basra is connected by air through its international airport with connecting flights to number of international capitals. Strategically located within the province of Basra, the city of Basra has four extensive highways, river transportation systems on both the Tigris and Euphrates rivers, and a railway linking it to Baghdad.
Basra has a big potential to become perhaps the next Dubai with the shimmering skyscrapers in the future. It is already home to majority of professionals and company headquarters in the country However, to expand its oil industry, this region needs foreign investment, as this is a capital intensive industry. There is already number of companies operating in the region, but the potential of the region is not fully obtained. Therefore, International Basra Oil and Gas Conference & Exhibition will be the perfect platform to meet for all companies in the industry.
Because of the security measures taken by the government, Basra has become a very safe city and no any big incident has happened for last three years. If any incident occurs, expert security staff is planted and they reach any place in the city within minutes.You may also have additional information about the city from your country’s embassy.
Basra is one of the oldest Islamic cities which was established during the Islamic conquest in 625 A.D. The Prophet’s companion, Utba Bin Gazwan, choses the city site in 14 A.H. (636 A.D.), and the city was formally planned and built by Abu Musa Al-Asha’ari six months prior to the building of Kufa city upriver. Basra was constructed close to Al-Busaira from the most ancient eras of history.
A network of canals flowed through the city, giving it the nickname “The Venice of the Middle East”, at least at high tide. The tides at Basra fall by about 9 feet. For long, Basra grew the finest dates in the world.
The city was renovated by the financial help of the allies and now it is on way of being one of the glorious cities of Gulf region.