Following the creation of the Iraqi Integrated National Energy Strategy last year, the Iraqi Government has set itself the task of fulfilling the strategy's detailed plan by the year 2033. Though focused on Iraq's long term future, many changes are required to be made in the short term in order to reach key milestones. The progress of the implementation of this landmark strategy will be spotlighted at the eighth annual Iraq Petroleum Conference taking place in London, UK on 17-19 June 2014.
First announced at the 2013 Iraq Petroleum Conference by the Deputy Prime Minister of Iraq, Dr Rowsch Nuri Shaways, the Iraqi Integrated National Energy Strategy requires for major infrastructure changes to be made to key sectors. These changes will be made with the objective to encourage further international and private local investment to build domestic skills, entrepreneurship and to diversify the economic development. The creation of this strategy feeds into Iraq's wider national mission objectives of improving local content as a means of building a strong socio-economy and improving environmental welfare.
In line with the conference's focus on Local Content, Chairman of the Advisory Commission to the Iraqi Prime Minister, H.E. Thamir Ghadhban will be hosting a special panel discussion on assessing local content challenges facing the MENA region. The panel will feature members of Iraqi government and leading IOCs operating in Iraq, who will attempt to identify solutions to the region's growing population and high youth unemployment rate of 25%, currently the highest in the world.
Over the last eight years, Iraq Petroleum has become the meeting place for Iraq's oil and gas industry. The conference has consistently provided key updates, from Iraqi Ministers and industry players, setting the tone for the year ahead by identifying key opportunities. Iraq Petroleum 2014 is promising again to be the major energy forum addressing post elections opportunities for the oil and gas industry with participation from sponsors such as TAQA, OXY, Genel Energy, Maersk Oil, GE Oil & Gas and many more to be expected in the near future.