The International Petroleum Technology Conference 2020
The International Petroleum Technology Conference 2020 “IPTC” is a global multidisciplinary oil and gas event. The event gathers several energy experts to discuss and exchange knowledge regarding the major issues of the industry. Founded in 2005, and was hosted for the first time in the Kingdom of Saudi Arabia fifteen years later. It took place in the Eastern Province in 2020, and was since decided to be hosted in Saudi Arabia every two years.
IPTC was sponsored by four industry associations, namely: the European Association of Geoscientists and Engineers (EAGE), the Society of Petroleum Engineers (SPE), the American Association of Petroleum Geologists (AAPG), and the Society of Exploration Geophysicists (SEG).
Saudi Arabia hosts the International Petroleum Technology Conference 2020
On January 13, 2020, Saudi Aramco hosted the twelfth IPTC in Dhahran Expo. The event, which coincided with the G20 summit in Saudi Arabia, took place over three days and was attended by leading experts in the energy field. Saudi Arabia has a large oil reserve, which qualifies it to host such an important event. It owns 19 percent of the global oil reserve, 12 percent of global production, and more than 20 percent of petroleum sales in global markets, in addition to a proven oil reserve that is estimated at 267 billion barrels.
Participants in IPTC 2020
IPTC 2020 received a turnout of interested people that exceeded 18,000 attendees representing 1,200 organizations from over seventy countries, as well as over 250 exhibiting companies.
The conference commenced under the title "Vision to Prosperity: A New Energy Era Emerges," and was attended by spokespersons, ministers, and executives from international companies to highlight the energy field and industry, discuss the scientific aspects of the energy sector to come through with solutions that would contribute to the support and development of the energy sector.
IPTC 2020 Discussions
IPTC 2020 addressed a number of topics related to the energy field, such as Saudi Arabia's contributions to the energy market, the strength of its petroleum sector and its resilience to the challenges it faced, Saudi Arabia's endeavor to guarantee the petroleum market’s stability and its commitment to the goal of reducing carbon level to net-zero.
The conference also debated Saudi Arabia’s plan that succeeded in reducing its energy intensity by 8 percent in six years starting 2012. Furthermore, the conference examined Aramco joining the world’s bank initiative of 2019 to Zero Routine Flaring by 2030, and Saudi Arabia’s efforts to raise safety and efficiency rates through artificial intelligence and technology.