Loss of Production Even More Dangerous in Times of Low Oil Prices

ABU DHABI -

- Security Specialists Must Work Together With Public Authorities to Reduce Risks

In challenging economic times any unplanned loss of production in critical sectors, such as oil, gas, electricity and water, can be devastating for a company’s profits. The loss in revenue while they repair the problem is bad enough, but any ensuing reputational damage will only serve to compound matters. Protecting critical infrastructure is a primary concern.

The Middle East has long been a sociopolitically unstable region and the risk of terrorist attacks by extremists has increased in recent years. Countries like Saudi Arabia which were previously considered, to a large degree, safe from terrorist attacks bore witness to the determination of militants.

Bqaiq was the site of a terrorist attack attempt by Al Qaeda on February 24, 2006 to attack the oil processing facility. Despite the damage being contained by Saudi Aramco, news of attack alone pushed oil prices up by $2. Khalid R. al-Rodhan, Center for Strategic and International Studies, stated “al-Qaeda is changing tactics to attack an area that will garner most attention and inflict most damage on the Saudi leadership, the U.S., and the international community.” It is thought that a moderate to severe attack on Bqaiq would slow production from an average of 6.8 million barrels a day to 1 million barrels.

But it is not just extremism which poses a threat to critical infrastructure. Sabotage, organised crime, disillusioned local communities and piracy are other risks that can only be addressed by employing best-practice security techniques. As these threats evolve, it becomes increasingly important to ensure that security processes and practices evolve at a similar rate.

The 4th Annual Security for Energy Infrastructure Summit, taking place on 18-21 October 2009 in Abu Dhabi, is the preferred platform for Middle East security experts to share innovative solutions that counter the spectrum of threats currently facing critical energy infrastructure.

Ernest Brown, Chief Security Officer at Dolphin Energy, says “this gets better every year”.

The conference will include contributions from 25 key figures in the field of energy security and will bring together security specialists working in energy companies across the region.

About IQPC Middle East:

For over thirty years, IQPC has helped the world’s leading corporations solve their business challenges through the sharing of practical industry solutions and global best practice. In the process, the company has built a formidable reputation for quality and value. The world’s most progressive companies have benefited from IQPC’s unrivalled global reach, which has connected international expertise with regional and local leaders.

For more information, please contact: Stacey Cross Senior Marketing Manager IQPC Middle East +971-4-360-2942 Stacey.cross@iqpc.ae

Source: IQPC Middle East

For more information, please contact: Stacey Cross, Senior Marketing Manager, IQPC Middle East, +971-4-360-2942, Stacey.cross at iqpc.ae