underlining the need for decisive and effective steps in conservation of energy, and improving the efficiency of its use, and finding alternative energy sources.

Minister of Petroleum and Mineral Resources Eng. Sufyan Allaw expected at the opening of National Energy Conference demand for energy to increase by no less than 4.5 to 5 percent per year, which will lead to increased demand for energy sources that will eventually double by 2025 and triple by 2030, underlining the need for decisive and effective steps in conservation of energy, and improving the efficiency of its use, and finding alternative energy sources.

Allaw pointed out to the government’s care for energy projects, as investments in this sector during the 10th five-year plan amounted to around SP 250 billion, around 24% of overall state investments in the plan, in addition to direct foreign investments in the fields of oil and gas amounting to over USD 3 billion.

The Minister affirmed that oil production remained stable during the past three years, with a long-term plan that expects 2000 million barrels to be produced between 2009 and 2025.

Allaw also said that tenders are being accepted for developing seven old oil fields, and that there will be an announcement in March for accepting tenders for prospecting in eight land fields, in addition to plans for prospecting in the Syrian regional waters. He added that four gas processing plants have been established, producing around 16 million cubic meters of clean gas per day.

The two-day conference focuses on topics of energy demand, economics, sources, conservation, and other topics related to energy use and preservation, with the participation of concerned national authorities, local experts and major consumers.

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