Dubai Summit highlights industry’s role in the global energy transition

The IOGP Summit in Dubai provided an expansive view of the oil and gas industry’s role in the global energy transition, emphasizing safety, decarbonization, and policy advocacy across 5 insightful sessions.

The opening session set the tone with Dragon Oil CEO Ali Rashid Al Jarwan and IOGP CEO Graham Henley discussing the industry’s adaptation to renewable energies and emission reductions, with a focus on IOGP’s deep collective expertise as the voice of our industry to help members and the industry transition while satisfying the rising demand for oil and gas. The Executive Plenary further explored the balance between maintaining safety standards and fulfilling reliable energy supplies, highlighting the need for new technologies and standards to address decarbonization challenges and operational efficiencies. Key speakers discussed the roles of AI, CCS, and hydrogen in reducing emissions and the need for industry-wide collaboration and partnerships to navigate the high costs and regulatory complexities of energy transition.

In-depth discussions also addressed complex policy dynamics, particularly in the European regulatory environment, and the need for strategic communication to improve the industry’s public and political perception. The Collaboration & Partnership session emphasized the importance of cross-sector collaboration, aligning with UN SDG 17 to encourage comprehensive strategies for sustainable development, integrating public, private, and civil society efforts. This session also spotlighted the critical role of think tanks and technological innovations in diversifying energy sources and enhancing economic resilience. Insights from the space industry proposed novel energy solutions like space-based solar farming, advocating for public-private partnerships to leverage governmental support and commercial opportunities.

The Energy Transition Masterclass and Safety sessions provided granular details on operational and strategic challenges. Safety discussions, led by industry experts, highlighted IOGP’s role in setting high safety standards and fostering a culture of safety excellence. The implementation of IOGP’s recommended practices, such as methane emissions detection and minimization strategies, demonstrated the industry’s commitment to reducing environmental impact while maintaining operational safety. The Energy Transition Masterclass focused on the industry’s strategic responses to decarbonization, showcasing initiatives like Petrobras’ investment in low-carbon technologies and BP’s holistic approach to integrating carbon reduction strategies into their operations, aiming for net zero by 2050.

The Summit underscored the ongoing challenges and strategies necessary for the industry to achieve a balanced, sustainable future amidst evolving global demands and technological advancements.

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