By ANSAmed,
THE first-ever summit for the Red Sea oil and gas sector held Monday and Tuesday in Dubai focused on investment, exploration and energy production opportunities.
A strategic transit point between Asia, Africa and Europe, the coasts between the Suez Canal and the Aqaba Gulf are also rich in hydrocarbons and untapped potential.
The two-day summit noted that Eritrea is one of the least explored countries in the world, and that over the past 50 years only 23 wells had been dug.
Interesting presentation coming up @IRN_OilandGas' red sea summit: Understanding Eritrea's #oil and #gas potential pic.twitter.com/V0XRm0d90c
— The Energy Year (@TOGYnews) February 23, 2015
Egypt, Sudan, Eritrea, Yemen, Saudi Arabia and Jordan all took part in the summit, which was organized by International Research Networks (IRN).
Eritrea Min of #energy&mines: "conclusive proof for existence of hydrocarbons generating systems" in subsoil @IRN_OilandGas red sea summit
— The Energy Year (@TOGYnews) February 23, 2015
In addition to discussion on technical aspects, the essential role governments play in fostering investment in enterprises intending to assess productivity of offshore and onshore platforms was highlighted.
@IRN_OilandGas' red sea summit fact: Eritrea is one of the most under-explored countries: 23 wells drilled over the past 50 years.
— The Energy Year (@TOGYnews) February 23, 2015
