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Organized by IFP

IFP/OAPEC Seminar: "Hydrocarbon Reserves: Abundance or Scarcity?"

28-30 June 2005
IFP/Rueil-Malmaison

IFP and the OAPEC jointly organize a regular international seminar dealing with world oil-related problems appearing in the news. For the first time, this seminar has been opened to oil and gas company specialists, service companies, research centers and independents.

This year's theme concerns oil and gas reserves: are they abundant or are we headed towards the shortages announced by some experts?

This theme is especially topical in that:

oil and gas currently meet two thirds of world energy needs and almost completely dominate the transport sector;
the reserves declared by the OAPEC countries account for nearly half of world reserves;
the price of a barrel of oil went through the roof in 2004;
world energy demand is growing fast and alternative sources of energy are far from ready to take over from oil and gas in the next few decades.

Since the reserves correspond to the volume it is technically and economically viable to produce, the seminar has, of course, dealt with the technical and economic questions that arise in connection with exploration and production, but it has also considered changes in the geopolitical context.
Presentations by the leading companies of the OAPEC countries and by the IFP group were completed by presentation from the International Energy Agency (IEA), the United States Geological Survey (USGS), the IHS Energy Group, Total and Gaz de France.
In addition, many discussions have been arranged in order to promote exchanges and dialogue on these fundamental questions.