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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

New oil and gas regulations to be unveiled at OPAL conference

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High-level regulations for Oman’s Oil and Gas industry, billed as a potential game-changer for the nation’s hugely importantly upstream sector, will be formally unveiled at the OPAL Oil and Gas Conference due to be held during October 30-31, 2017 at the Grand Millennium Hotel, Muscat.


An entire session of the two-day-long forum is being devoted to presentations and deliberations on the keenly anticipated regulations, formulated by the Ministry of Oil and Gas to support the development of a well-regulated upstream oil and gas sector in the Sultanate.


Besides strengthening the existing regulatory framework for the effective management of hydrocarbon investments in the Sultanate, the new regulations will also contribute to the goal of boosting efficiency, safety and operational security in all areas of the industry’s upstream business.


The keynote address on the important initiative will be presented by Dr Anwar al Kharusi, Special Adviser to the Minister of Oil and Gas (and presently on secondment to Oman Oil Company).


Dr Al Kharusi, who headed a high-level team tasked with formulating the regulations, will speak on the theme, ‘Developing a well-regulated upstream oil and gas sector in Oman — Analysing the high-level regulations governing all facets of the upstream hydrocarbon activities’.


Broad-based in scope, the high-level, fit-for-purpose regulatory framework spells out standards and guidelines encompassing the following key facets of upstream operations: HSSE Management, Well and Drilling Operations Management, Reserves Management, Resource Maturation and Management, Surface Infrastructure Management, Financial Requirements, Contracting and Procurement Requirements, Data Management, Inventory and Asset Disposal Management, Human Resources Management, Management of Corporate Governance and Accountability, and Marketing and Export Requirements.


Highlighting the importance of the regulations, Salim bin Nasser al Aufi, Under-Secretary of the Ministry of Oil and Gas, commented: The new ‘Oman Oil and Gas Regulations’ represent an across-the-board effort to bring international standards and best practice to our industry.


They provide, among other things, greater specificity to the existing Oil and Gas Law and the Exploration and Production Sharing Agreement (EPSA), while eliminating any room for ambiguity that comes in the way of the safe and efficient management of the nation’s hydrocarbon resources.”


The session on Oil and Gas Regulations also features a presentation by Hamood al Sawafi, Drilling Engineer at the Ministry of Oil and Gas, who will speak on the implications of the new framework for boosting safety, efficiency and the optimization of the nation’s hydrocarbon resources.


Additionally, a key representative of the International Centre of Regulatory Excellence (ICORE), set up by the Alberta Energy Regulator (AER) in Canada, will speak on the importance of hydrocarbon regulation excellence. AER is one of the world’s best known energy regulatory bodies, overseeing Oil and Gas regulation in the oil sands-rich Canadian province of Alberta. The regulator is offering its highly acclaimed expertise in Oil and Gas regulation to the global hydrocarbon industry, through ICORE, a platform that seeks to share best practice energy regulation among national and international regulators.


The two-day OPAL Oil and Gas Conference 2017 opens on October 30, focusing on the overall theme, ‘Driving excellence in upstream hydrocarbon activities in the Sultanate’. Oman Society for Petroleum Services (OPAL) is organising the eventt Salim bin Nasser al Aufi, Under-Secretary of the Ministry of Oil and Gas, will be the Chief Guest on the occasion.


“The OPAL Oil and Gas Conference provides a great opportunity to get a comprehensive overview on the state of the industry, current challenges and business opportunities, acquire and expand valuable business contacts in fuel and energy companies. This networking platform will discuss what is in store for Oman’s oil and gas sector from the enlightened perspectives of our industry leaders,” said Musallam al Mandhri, CEO — OPAL.


Conrad Prabhu


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