Bringing all the experts under the exotic roof of Marriott Islamabad, the two-day Pakistan Oil and Gas 2014 Summit organised by International Research Network (IRN) gathered high profile executives from the oil and gas operating companies in the country to discuss the pressing energy crisis.
The summit agenda was well designed where it covered all parts of the oil and gas value chain from the upstream oil and gas sector to the downstream with contributions and discussions with government officials, and national and international oil companies.
For one, the summit opened at a defining moment as the country faces tough energy crisis primarily due to rising energy consumption amid stagnant production and unexplored areas; key operators, regulators and ministers presented on the dire need for energy and investment. And capacity building in all dimensions was one key phenomenon that was discussed over and over.
The summit also gave open space for networking between the participants, helping them to discuss the issues at hand. Remember, the first step to solving any problem is identifying it! So, a round of applause for at least agreeing on similar lines that we are in serious crisis!
This brings us to what was actually missing at the summit. Where the experts and operators presented their hopeful views regarding the oil and gas sector’s potential, all their optimistic projections need work! And while it’s good to shed light on the potential every now and then, it is a futile activity if not executed timely.
The very potential that exists today in the oil and gas sector also existed 10-20 years ago, and might exist 10-20 years from now if left it there.
What is required and what was felt missing from the two-day summit was how the government and the oil and gas company operators act and actually plan to bring the existing potential to the greater use.
In other words, while the summit helped prepare a good post-mortem report, it lacked the much needed ideas for progress.
Anyways, a key lesson from what was said and what was left unsaid at last week’s Pakistan Oil and Gas Summit is that we really need to get going in E&P production, as the clock is ticking faster than we think!
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