ID :
503393
Mon, 09/03/2018 - 22:02
Auther :

WHOC 2018 kicks off

Muscat, Sept. 3 (BNA): Omani Oil and Gas Minister Dr. Mohammed bin Hamad Al Rumhi and Bahraini Minister of Oil Shaikh Mohammed bin Khalifa Al Khalifa opened today the 2018 World Heavy Oil Congress and Exhibition (WHOC) which is held at Oman Convention and Exhibition Centre. More than 3000 participants, including experts and specialists from around the world are taking part in the three-day event to exchange visions and discuss changing values of heavy oil and the future of Energy in the world. On boosting progress in the oil sector by diversifying resources, Dr. Al Rumhi stressed that performance of the Sultanate of Oman did not slow down when the oil prices dropped between 2014 and 2018. He said the challenge in that period was a decrease in investments mainly in the exploration field. He noted that Oman was able to overcome those challenges thanks to the preemptive plans and the support of the government, partners and oil and gas companies in Oman. “We took the right decision by focusing on investment which contributed to maintaining our stability during this critical period,” he said, stressing the role of the private sector in this respect. Shaikh Mohammed bin Khalifa Al Khalifa pointed out Oman’s leading status as the first country in the region to invest in the heavy oil sector which turned it into a model to emulate in this regard. He pointed out a potential increase in demand for heavy oil in the short run, especially with North America focusing its production on light and rock oil.

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