Deep Water Exploration success has underpinned global exploration discovery volumes since the mid-1990’s when results from the Gulf of Mexico began to be matched by those from the deep water parts of the Congo, Niger and Nile deltas and the Campos basin.
From time to time, we began to think that perhaps there would be no more deep water provinces; and then along came Ghana and the Santos basin, and latterly French Guiana, East Africa (maybe) and Angolan sub-salt!
And of course the Gulf of Mexico will continue to test ever deeper water, ever deeper targets and ever more ‘paradigm-breaking’ depositional systems….if Washington can ever get its act together.
But isn’t the end now in sight?
One of our Finding Petroleum number has, we recall, previously offered to drink all the oil that’s developed around the Falkland Islands - recent drilling seems to reveal that so far he is safe!
And offshore Greenland has proved a disappointment to Cairn Energy. As has Namibia to Chariot.
And the South China Sea seems less promising rather than more……..
And isn’t New Zealand a long way from anywhere?
And are the Indian deeper water discoveries really as large as reported?
And if we are going to explore ever more remote deepwater regions, can we say anything about technologies that help us in meeting the challenge without losing our shirts in the process; can we reduce exploration risk, can we reduce the extraordinarily high cost of drilling?
And of course there remains ‘a shadow in the room’ – have events in the Gulf of Mexico impacted the industry’s ability to explore and develop these remote frontier regions? Is regulation tightening and will the demand for financial guarantees against potential loss and damage exclude all but the biggest companies?
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David Bamford is 63. He is a non-executive director at Tullow Oil plc and has various roles with Parkmead Group plc, PARAS Ltd and New Eyes Exploration Ltd, and runs his own consultancy. He writes regular articles for OilVoice and ROGTEC and is a co-founder of Finding Petroleum.
He retired from BP in 2003, after a 23 year career spent initially in research & technology, then the geophysics function, business unit leadership, and finally BP's global exploration programme.
Finding Petroleum
Finding Petroleum was established to help the oil and gas industry network, and stay up to date on the latest technological developments. It does this via hosting regular events, distributing their colour magazine - Digital Energy Journal, and with an online social network of nearly 700 members.
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Dr Clint joined Sanford C. Bernstein in 2004 and was part of the Energy Team with Neil McMahon covering the Global Integrated Oil sector.
Currently he is the Senior Research Analyst covering the European E&P and Russian Oil & Gas sectors. The Bernstein Energy franchise has become well known due to both the provocative commentary on the commodities and oil stocks, as well as the innovative research that forms the core of their frequent publications. Previously, he worked as an accountant and consultant for KPMG covering energy, gas, and chemical sectors. Dr Clint received his PhD in Geophysics from University College London where he specialised in sub-surface rock physics and is also a Chartered Accountant.
Bernstein Research
Sanford C. Bernstein is widely recognized as Wall Street's premier sell-side research firm. Their research is sought out by leading investment managers around the world, and they are annually ranked at the very top of acknowledged arbiters. In independent surveys of major institutional clients, Bernstein's research is ranked #1 for overall quality, industry knowledge, most trusted, best detailed financial analysis, major company studies, most useful valuation frameworks, best original research, and most willing to challenge management. In Institutional Investor's 2008 annual client survey, the leading survey by which analysts in our industry are evaluated, 100% of our U.S. Analysts were recognized as among the best in their respective fields -- more than any other firm on Wall Street.
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After completing a Ph. D. at Imperial College, Keith joined BP in 1987 as a geologist. Following a variety of technical roles, he became a Senior Commercial Advisor in 1996 when he led several major negotiations for new business access as well as Business Strategies for BP’s business in West Africa and BP’s Strategic Alliance with Statoil. Since 2000 Keith has been an advisor to numerous energy companies on strategy and partnership issues Keith founded Richmond Energy Partners in 2006 to provide independent advice to investors in smaller oil and gas companies. Richmond Energy advise some of the largest funds and institutions investing in the sector. Keith takes a keen interest in oil sector governance and served on the organising committee of the Good Governance of the National Petroleum Sector Project at the think tank Chatham House.
Richmond Energy Partners
Richmond Energy Partners was founded in 2006 and provides independent advice to investors in smaller oil and gas companies. It provides advice to some of the largest funds and institutions investing in oil and gas. Dr Myers has a Phd from Imperial College, London and joined BP as a geologist in 1987, eventually becoming senior commercial advisor at BP in 1996, leading negotiations for new business access for BP in Angola and in its strategic alliance with Statoil.
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Founded in 2001 Neftex has rapidly grown to become one of the largest geoscience consultancies in the world. We specialise in the collation, integration and interpretation of large geoscience datasets and the delivery of these as digital subsurface models.
We are recognised as the industry leaders in the provision of web-based sequence stratigraphic products and their global application. Our products and services provide a comprehensive picture of subsurface geology, helping to reduce play risk and increase value across multiple sectors. www.neftex.com
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Talk Description.
We will use our worldwide experience (including most of the areas in the Finding Petroleum introduction for this event - Greenland, Falklands, Gulf of Mexico, Niger Delta, Angola, Namibia - and much more to illustrate the talk and develop discussion of appropriate technology for deep water drilling. |
Ikon Science is a geoscience technology company committed to bringing innovative geoscience technology to the upstream oil and gas industry. As specialists in subsurface workflows, we are developing and delivering quantitative prediction and reservoir characterisation to customers with a fresh and flexible approach. With our industry-leading software, The RokDoc® System, and our responsive teams, we are dedicated to providing you with excellence, by combining innovation and scientific rigour on every project. Leading a journey to discover and share new technology, products and know how, we deliver results and value on time, every time.
Ikon Science, founded in 2001, employs over 80 people and has offices in London, Durham, Edinburgh, Houston, Boulder, Lagos, Kuala Lumpur and Perth Western Australia.
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Talk Description.
The Deep Water South Atlantic Conjugate Margin - Africa from the Transform Margin down to Angola and Brazil from the Eq. Margins down to the Santos Basin |
Petroleum Geo-Services (PGS) offers a broad range of products including; seismic and electromagnetic services, data acquisition, processing, reservoir analysis/interpretation and multi-client library data. They help oil companies to find oil and gas reserves worldwide, offshore and onshore.
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