§ØædG ¥Gƒ°SCG øjó≤Y ¥ÎØe '

OAPEC ACTIVITIESPress release of 85 th meeting of the Ministerial CouncilThe Council of Ministers of the Organization of Arab Petroleum Exporting Countries (OAPEC) held its eighty-fifthMeeting on Saturday 19 Muharram 1432 AH, corresponding to 25 December 2010 in Cairo- the Arab Republic ofEgypt. The meeting was chaired by H.E. Mr. Mohammed Al-Hamli, Minister of Energy in United Arab Emirates,which has the chair for the current session.His Excellency the Chairman welcomed their excellencies the Ministers, wishing them all success in theirdeliberations, emphasizing the importance of cooperation among member countries to achieve the Organization’sobjectives. He also welcomed both H.E. Dr.Yousef Yousfi , Minister of Energy and Mines in the Republic ofAlgeria, H.E. Mr. Abdul Karim Laibi Bahhid, Minister of Oil in the Republic of Iraq, who are attending theCouncil’s meeting for the first time after their appointment in the petroleum sector in their countries, wishing themall success and looking forward for their continued support to OAPEC’s activities.H.E. Eng. Sameh Samir Fahmy, Minister of Petroleum in the Arab Republic of Egypt, welcomed their excellencies,H.E. also called the General Secretariat to coordinate with the Arab League on following up the global financialcrisis and its impact on the economies of Arab countries by updating the study that was prepared by the GeneralSecretariat to present it in the second Arab Economic Social and Development summit, which will be held in SharmEl-Sheikh in January 2011.H.E. Mr. Abbas Ali Naqi, Secretary General, also welcomed their excellencies the Ministers wishing them all thesuccess in their deliberations, and looking forward for their continued support for the Organization’s activities.The Council then approved the proposed agenda for its meeting, whereupon it:1 - Approved the 2010 budget of OAPEC (The Secretariat General and the Judicial Tribunal) amounting to$2,053,800/ K.D. (Two million fifty three thousand and eight hundred Kuwaiti Dinars).2 – Appointed Al-Bassam and Co. as auditors for OAPEC for the year 2011.3- Reviewed a progress report regarding the results of the Ninth Arab Energy Conference held in Doha, Qatarduring the period from 9-12 May 2010, stressing the importance of the recommendations that came out of theconference.4 - Announced the winners of the 2010 OAPEC Award for Scientific Research on papers addressing the topic of“Results of Applying New Technologies in Petroleum Exploration and Production in Arab Countries, and theirEconomics”, as follows:- The First-Prize, amounting to -/7000 Kuwaiti Dinars (KD) was withheld.- The Second Prize, amounting to -/5000 Kuwaiti Dinars (KD) was awarded and divided between between the17Volume 37 Issue 1