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

July 9, 2009

ABU DHABI, July 9 /PRNewswire/ –

– 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


Source: newswire



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