The ninth International Petroleum Technology Conference (IPTC) is scheduled to take place in Doha, Qatar from December 7 to 9 this year, announced Trade Arabia.

The event will be held at the Qatar National Convention Centre and is expected to draw 5,000 delegates from over 70 countries.

This annual event rotates between Asia Pacific and the Middle East, while this year’s theme is ‘Technology and Partnerships for a Sustainable Energy Future’ and hosted by Qatar Petroleum and Shell, under the patronage of Sheikh Tamim bin Hamad Al Thani, The Emir of the State of Qatar.

“In the current oil price environment, both cutting-edge technology and better long-term collaboration across the supply chain will play a significant role in mitigating any negative impact, as well as putting the industry on a much better footing for the future,” said Waleed Refaay, IPTC project director.

According to Bloomberg Qatar is the world’s richest nation on a per capita basis and is planning to channel about $35 b of investment into the US over the next five years, despite the oil price crunch.

This is an attempt to move away from European deals, along with plans to set up a $10b investment venture with China’s Citic Group.