Greetings, Industry Professionals,
It is a privilege to serve the petroleum engineering community as the SPE Middle East and North Africa regional director during this crucial period of industrial development. Since more than a century ago, the mission of SPE to disseminate knowledge to the public has played a significant role in bringing together people and organisations with similar interests across boundaries. This is becoming increasingly vital as the energy landscape evolves rapidly.
I would like to thank Mr. Qasem Al-Kayoumi, the outgoing SPE Regional Director for the Middle East and North Africa, who, along with Mr. Hisham Zubari, has effectively led the SPE MENA region through some of the most arduous moments in human history. During his tenure as Director, Qasem's contributions and involvement in the SPE community were prominent. I am thrilled to collaborate with Hisham to better serve our members in the region in the future.
We live in a time of constant change, and to flourish, we must be highly nimble and adaptable. As an industry, we must improve the foundations of our organisation and alter our business practices.
On a worldwide basis, ambitious decarbonisation targets have been established, and the world's energy systems must undergo a profound change that simultaneously decreases emissions and expands access to secure and reliable power sources that are important for human development. Nonetheless, I believe that widespread adoption of carbon capture and storage is a viable strategy for achieving global climate goals. In light of this, the international community must shift its focus from lofty objectives to concrete steps toward their realisation.
Moreover, as the world's energy demands increase, we must also pay attention to the current energy transition. We cannot decommission the current energy system until the new one has been constructed; thus greater strategic effort should be devoted to decreasing emissions from the existing energy systems. It is similarly vital to keep in mind that CCUS is only one piece of the puzzle: investments in large-scale projects to cut carbon emissions and improve energy efficiency are also essential. Consequently, I believe that focusing on lowering carbon footprint and diversifying the energy mix is the responsible course of action for the new economic opportunity.
At ADNOC, our approach to sustainability provides the foundation for addressing the challenges of climate change and capitalising on the opportunities afforded by the global energy transition. As a responsible energy provider, we are committed to providing the world with the affordable and sustainable energy it requires, while simultaneously reducing the intensity of our operational greenhouse gas (GHG) emissions by 25% by 2030 and supporting the UAE's efforts to achieve net-zero emissions by 2050.
As an industry, we are all responsible for minimising the costs of developing and adopting innovative value-adding technologies. There is no better organisation than SPE to break down institutional silos by making it simpler for industry, academia, and research institutes to collaborate on this, and it is one of my highest goals to advocate for this on a global scale.
The Middle East and North Africa region is endowed with abundant hydrocarbon resources that will be vital for meeting future global energy demands. Currently, the SPE community in the MENA area is responsible for maturing over 50% of the world's oil reserves and meeting nearly 40% of global oil demand. It is our obligation to unleash these resources in order to continue supplying the world economy with inexpensive, low-carbon oil and gas.
To this aim, at the regional level, I am committed to placing SPE as the industry's pillar for promoting collaboration among all sections and converting best practices and lessons learned into a road map for a realistic transition to a zero-carbon future while maximising the region's energy resources.
I wish you and your loved ones a pleasant holiday season. In the next weeks, I will introduce you to the numerous joint activities that we will conduct in 2023 to achieve our shared objective. Please stay tuned!
Mohamed Al Marzouqi
Middle East and North Africa Regional Director