H.M. KING JUAN CARLOS I TO OPEN THE 19TH WORLD PETROLEUM CONGRESS

June 24th 2008

From the 29th of June - 3rd of July the 19th World Petroleum Congress will take place in Madrid, Spain. Held under the theme: "A World in Transition: Delivering Energy for Sustainable Growth", the Congress will bring together key players from the oil and gas industry worldwide. H.M. King Juan Carlos I will officially inaugurate the Congress on the 30th of June welcoming participants to the most important meeting of the global oil and gas industry in 2008.

Amongst the confirmed keynote speakers of the Congress are H.E. Abdullah Bin Hamad Al-Attiyah, Deputy Premier and Minister of Energy & Industry, Qatar; H.E. Ali Al-Naimi, Minister of Petroleum and Mineral Resources, Saudi Arabia; H.E. Abdalla Salem El-Badri, Secretary General OPEC; Mr. Georg Kell, Executive Head, UN Global Compact; Ms. Huguette Labelle, Chair, Transparency International; Mr. Nobuo Tanaka, Executive Director, International Energy Agency. They will join nearly 600 speakers, including over 100 CEOs, to deliver presentations on the latest research and developments in the oil and gas industry, addressing future options of fuel supply and delivery, as well as its impact on people and environment.

A few of the topics being addressed during the congress include deliverability challenges, finding, accessing and reporting reserves, the industry’s water usage, biofuels and motor fuel quality, securing European gas supply, geopolitics, the environmental footprint of the industry, social responsibility, societal expectations and the role of young people. The Congress Programme will feature 88 sessions over the four days including presentations from 18 countries led by their ministers who will take this opportunity to give us an in-depth view of their national oil and gas industry and announce opportunities for cooperation. Amongst those are the delegations from Algeria, Angola, Canada, Colombia, India, Iran, Kazakhstan, the Netherlands, Nigeria, Qatar, Russia, Saudi Arabia, Venezuela and many others.

Once again the World Petroleum Congress will address the challenge of sustainability. The industry is well aware of its responsibility as a key global economic sector, as well as the impact the it’s activity causes on society and the environment. Petroleum is the primary global energy provider and, today, is irreplaceable. 95% of transport in the world requires this energy source and thanks also to the products derived from petroleum we are able to enjoy the commodities of today’s society. Therefore, professionals of the oil industry are committed to research new technologies to improve recovery methods, reduce energy consumption, enhance energy efficiency and to investigate alternative energies.

This year, the Congress also marks the 75th Anniversary of the WPC. Thomas Dewhurst urged his fellow members of the Institution of Petroleum Technologists to create the first World Petroleum Congress which was held in July 1933 in London. Thus it is the 75th anniversary of an initiative that still maintains its essence: to bring together professionals, scientists, experts, engineers as well as consumers in a neutral forum in order to discuss the latest developments, advances and new challenges of an industry that is so vital for world economic development.