Finding Petroleum Opportunities In The Middle East

Investor issues - Ras Al Khaimah - Kurdistan - the Cenomanian of Arabian plate - Persian Gulf seismic 0

Tuesday, May 22, 2018, London, The Geological Society

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Our Middle East forum this year looked at investment opportunities in the changing market environment, and exploration opportunities in the emirate of Ras al Khaimah, the Kurdistan Region of Iraq, the massive Mishrif, Sarvak and Natih reservoirs (Iraq, Iran, Oman), and the Persian Gulf. Attend to get an overview and update of the biggest opportunities for explorers and investors in the most important region of the world for hydrocarbons.

Hugh Ebbutt, director of oil and gas upstream at A T Kearney, will talk about the issues facing investors in Middle East oil and gas industry - with National Oil Companies under local pressure to employ more of their own people rather than work with outside companies - although the technical complexity of projects of their operations is increasing as fields become more mature.

Thibaut Burckhart, exploration manager of RAK Gas, a National Oil Company for the emirate of Ras al Khaimah, the 7th emirate of the UAE, will talk about the exploration potential offshore in the emirate. James Wallace, area geophysicist with Polarcus, will discuss Polarcus’ survey data for the region.

After coffee, Richard Jones, CEO of Geospatial Research, will discuss the geological opportunities and risks in the Kurdistan Region of Iraq. Andy Horbury, director of Cambridge Carbonates, together with Benoit Vincent, geologist with Cambridge Carbonates, will talk about the Arabian Plate in the Cenomanian era (mid Cretaceous), looking at the massive Mishrif, Sarvak and Natih reservoirs (Iraq, Iran, Oman).

Then, Trond Christoffersen, COO of Global Geo Services, with Katya Krylova, sales and marketing director of GGS, will talk about opportunities in the Persian Gulf (offshore Iran), making use of upgrade seismic and new quantitative interpretation methods.

This event follows our Middle East event in May 2017
view the agenda view the delegates list view the report

Agenda

9:30

David Bamford - Director - Finding Petroleum

Chairman's introduction

David Bamford is well known around the oil & gas industry both as an explorer and a geophysicist. He holds a Physics degree from the University of Bristol and a Ph.D in Geological Sciences from the University of Birmingham.

Since 2004, he has been a non-executive director at Tullow Oil plc, being recruited for this position especially for his exploration knowledge. He serves on the Nominations and Remuneration Committees, and was chairman of the latter, and Senior Independent Director, for 3 years prior to his retire from the board at the end of April 2014.

He was on the board of Premier Oil from May 2014 to May 2016.

He retired from BP plc in 2003, his last four positions being Chief Geophysicist (1990-1995), Business Unit Leader (General Manager) for first West Africa and then Norway (1995-1999), and finally Head of Exploration until 2003.

He has served on the boards of Paras Ltd, a small exploration and IS/IT consulting company in which he held 22% equity, until its sale to RPS Energy in 2008 and Welltec a/s, a Danish well engineering company, as the nominee of the private equity investor Riverside.

From 2012 to 201 he was on the board of ASX-quoted Australia Oriental Energy as a non-executive director.

He was a founder of Richmond Energy Partners, a small oil & gas research house, and several media companies that focus on the oil & gas sector, and has served as an advisor to Alliance Bernstein, Opus Executive, the Parkmead Group plc, and Kimmeridge Energy LLP. Since retiring from BP, he has undertaken asset and company valuation projects for investment banks, hedge funds and small oil companies.

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 and with an online social network of nearly 10,000 members.

9:40

Hugh Ebbutt - Director, A.T. Kearney, Oil and Gas, Upstream growth strategies, Portfolio focus - A T Kearney

Challenges facing investors in Middle East oil and gas. Rising technical challenges, which many of the less competitive, slow moving NOCs, now with more constrained budgets, cannot fully meet on their own

Talk Description.
Political and demographic pressures, to employ more of their own people and only offer unattractive commercial and fiscal terms, limit the number and scope of effective joint ventures with experienced outside partners.

Gas may provide more attractive growth, where there is good market access and prices and terms are attractive enough, for example where there is a shortfall against growing domestic demand.

Middle East countries are looking to diversify away from their heavy reliance on oil, before growth in demand for oil slows, as the world moves to lower emitting fuels and renewable energy like solar, which the Middle East has in abundance. But regional and geopolitical rivalries are as intense as ever and cast a long shadow.
Hugh has over 30 years of global experience in the upstream energy business, originally as an explorer with BP, then in a range of upstream roles at Chevron and Hess, including deal evaluation, business planning and field development. He has an MBA from LBS.

His focus is on growth strategies and competitive priorities in upstream oil and gas, and he helps companies to:
• Develop stronger portfolios, and to prioritize high quality assets and deals, to deliver objectives
• Become more adaptable, innovative and agile - for a fast changing energy business environment
• Develop distinctive capability and technology strategies – to meet key competitive project needs
• Put in place effective, highly motivated team structures - with a clear sense of purpose
• Make better decisions, based on effective, fact based strategic, economic and technical evaluation

He was a Partner in Arthur D. Little’s Global Energy Practice, based originally in London, and then led ADL’s upstream group in Houston, before moving to CRA International - as a Vice President. He now works with A T Kearney, primarily focused on the Middle East.

Before consulting, he worked for five years with Chevron, working in Business Planning, Exploration and Development. He worked on a number of key oil and gas transactions, and in development and exploration with Hess, as it rapidly grew its upstream position in the North Sea, after seven formative years with BP in Exploration - in London, Eakring, Aberdeen, San Francisco and Egypt.

He has published articles on the outlook for oil and gas, factors driving supply and demand, resource and technology issues, climate change, upstream strategies, competitive positioning and deals.

A T Kearney
We help the leading power, oil, natural gas, and utility companies boost top- and bottom-line performance while rapidly adapting to regulation, technology, and environmental concerns.

10:15

James Wallace - area geophysicist - Polarcus

Unwrapping the potential of Ras Al Khaimah - 3D offshore exploration in UAE (part 1)

Talk Description.
- survey design and operations

Nestled between the Al-Hajar Mountains and the Arabian Gulf, is the seventh Emirate of United Arab Emirates, Ras Al-Khaimah. A relatively under-exploited region, in terms of seismic exploration.

The Ras Al-Khaimah sub-basin contains the continental shelf carbonate sediments moving to complex faulting found in the foreland basin. It falls into the Thamama Group which is one of the largest oil reservoirs in the world. This area has had some exploration and production activity dating back to the 1980s. Two fields have been active: Saleh was one of the main producing gas and condensate wells in UAE. The other, RAK B, has proven oil reserves.

There have been a number of surveys offshore Ras Al Khaimah, 2D exploration lines and a 3D survey over each of the main fields, RAK-B and Saleh. The 2017 3D triple source survey was designed to cover the entire width and breadth of the Emirate’s waters, from water depths of 80m up to the coastline’s 15m contour in preparation for a 2018 licensing round, finally unveiling the Emirate’s offshore geological potential.

James Wallace is Area Geophysicist Europe, Africa and Middle East for Polarcus. He has held senior roles for the last 12 years within the industry, including being responsible for global geophysical operations, technical marketing and marine seismic data processing.

Polarcus
We have a pure play strategy focusing on the marine towed streamer seismic acquisition business, coupled with a strong commitment to minimize our environmental impact in the performance of our work. This clear strategy will ensure that our extensive experience and resources will be fully focused on the successful execution of seismic surveys, whether proprietary or multi- client, 3D or 4D, whilst leaving the lowest possible environmental footprint.

10:30

Thibaut Burckhart - Exploration manager - RAK Gas

Unwrapping the potential of Ras Al Khaimah : 3D offshore exploration in UAE (part 2)

Talk Description.
- Geological analysis

Nestled between the Al-Hajar Mountains and the Arabian Gulf, is the seventh Emirate of United Arab Emirates, Ras Al-Khaimah. A relatively under-exploited region, in terms of seismic exploration.

The Ras Al-Khaimah sub-basin contains the continental shelf carbonate sediments moving to complex faulting found in the foreland basin. It falls into the Thamama Group which is one of the largest oil reservoirs in the world. This area has had some exploration and production activity dating back to the 1980s. Two fields have been active: Saleh was one of the main producing gas and condensate wells in UAE. The other, RAK B, has proven oil reserves.

There have been a number of surveys offshore Ras Al Khaimah, 2D exploration lines and a 3D survey over each of the main fields, RAK-B and Saleh. The 2017 3D triple source survey was designed to cover the entire width and breadth of the Emirate’s waters, from water depths of 80m up to the coastline’s 15m contour in preparation for a 2018 licensing round, finally unveiling the Emirate’s offshore geological potential.

An E&P geosciences professional with 19 years Shell experience, and a proven track record in leading successful exploration projects (12 wells through Final Investment decision gate, 3 gas discoveries, 4 oil discoveries, including DW Malaysia Petai field, First Oil Feb. 2014, 35,000b/d.)
Thibaut gained exposure to a wide spectrum of technical challenges in culturally diverse environments, through postings in the UK, Netherlands, Nigeria, Malaysia (Borneo), Oman, Australia (NWS) and UAE.
A high energy professional with a can-do attitude, Thibaut maintains a strong “hands-on” technical expertise and the drive to deliver projects, meeting E&P business objectives, throughout the exploration-appraisal cycle.

RAK Gas
The mission of RAK Gas is to provide the Emirate of Ras al Khaimah with a consistent and secure supply of energy as well as generate growth and revenues for its government.

The Company’s core business is to source and market natural gas. In addition, the Company has gas processing facilities and international portfolio of exploration & production assets.

RAK Gas processing facilities are at Khor-Khwair in Ras al Khaimah, where it treats raw gas and strips out the LPG and condensate streams. The LPG is marketed domestically.

RAK Gas’s E&P Portfolio includes interests in a number of exploration-stage blocks. It has interests in offshore blocks in Ras al Khaimah as well as having interests in a number of exploration blocks in Africa.

10:50

Coffee & Tea; Exhibits

11:10

Richard Jones - CEO - Geospatial Research

Geological Opportunities and Risks in the Kurdistan Region of Iraq

Geospatial Research
Over the last decade, GRL have extensive field experience across the Middle East, including the Zagros, UAE, Oman, and Turkey. In the northern Zagros alone, we have carried out 25 successful field campaigns for 14 companies, covering 40 exploration license blocks over an area of more than 20,000 sq.km., giving us extensive outcrop experience of Cambrian to Pliocene stratigraphy. We have detailed knowledge of structural style throughout the Middle East, and comprehensive understanding of the interplay between regional geodynamics, trap development, and hydrocarbon systems.

In applying our understanding of surface geology to help our clients interpret the sub-surface, we have completed our outcrop-scale vector-based mapping of the Zagros, and have constructed over 8,000 km of balanced cross-sections across SE Turkey, Iraq, Iran and The Gulf. Our Zagros-related products also include very extensive, detailed quantitative data to characterise fractured reservoirs, to provide robust inputs for our clients' Discrete Fracture Network models.

11:45

Andy Horbury - Director/Founder - Cambridge Carbonates

Understanding the Cenomanian: the massive Mishrif, Sarvak and Natih reservoirs of the Arabian Plate (part 1)

Cambridge Carbonates
Cambridge Carbonates Ltd. is a geological consultancy that provides expertise in carbonate and evaporite systems to the oil and gas industry. As well as offering a range of non-proprietary reports for purchase, Cambridge Carbonates deliver bespoke expertise to clients in regional studies, play evaluations and reservoir characterisation projects.

12:00

Benoit Vincent - Consultant Geologist - Cambridge Carbonates

Understanding the Cenomanian: the massive Mishrif, Sarvak and Natih reservoirs of the Arabian Plate (Part 2)

Benoit Vincent is working as a Consultant Geologist with Cambridge Carbonates Ltd for 2009. He obtained a BSc in the University of Grenoble, followed by a MSc and PhD from the University of Burgundy in Dijon (France) in the field of Sedimentary Geology. After a Post-Doctoral position at the French University he joined the Institut Français du Pétrole (IFP, now IFPEN) in Paris between 2002 and 2008 where he was responsible for the petrography and thin section manufacturing labs. Benoit worked on sedimentology, stratigraphy, and diagenesis of carbonates, as well as on the impact of diagenesis on reservoir properties, mainly in the Middle East.

He also participated in projects about CO2 storage and received the DEG (Division of Environmental Geosciences) Best Poster Award at the 2004 AAPG Annual Convention in Dallas. He was employed as expert Geologist in Andra (French National Agency for Radioactive Waste Management) from 2008 to 2009. His main interest is in diagenesis and petrophysics in relationship with sedimentology and stratigraphy, now working all around the world and through the entire Phanerozoic, in carbonate and clastic reservoirs.

Cambridge Carbonates
Cambridge Carbonates Ltd. is a geological consultancy that provides expertise in carbonate and evaporite systems to the oil and gas industry. As well as offering a range of non-proprietary reports for purchase, Cambridge Carbonates deliver bespoke expertise to clients in regional studies, play evaluations and reservoir characterisation projects.

12:20

Trond Christoffersen - Chief operating officer - Global Geo Services AS

After the big bumps – Upgraded seismic, new QI methods plus the conventional exploration tool box show what to go for in the Persian Gulf (part 1)

Global Geo Services AS
GGS provides data from the PC-2000 (Persian Carpet), one of the largest Multi Client 2D surveys ever undertaken. PC 2000 covers the entire offshore Iran in the Persian Gulf and the Oman Sea. The PC 2000 has been collected in exclusive partnership with the National Iranian Oil Company (NIOC), and the data has so far been licensed to 20 oil and gas companies.

A complete broad-band reprocessing is currently being undertaken by DownUnder Geosolutions and managed by GGS-Interica Ltd.

12:35

Katya Krylova - VP sales and marketing - GGS Interica

After the big bumps – Upgraded seismic, new QI methods plus the conventional exploration tool box show what to go for in the Persian Gulf (part 2)

Talk Description.

Katerina Krylova is VP sales and marketing with GGS-Interica. Prior to her current position, she was an account manager at Paradigm Geophysical UK (2012-2015) and an EAME Business Development Manager at CGG (2010-2012). Katerina began her career as a seismic reservoir characterization geophysicist at CGG in 2005.

GGS Interica
GGS-Interica is a joint venture company which manages and licenses the Persian Carpet 2000 dataset that GGS acquired during 1999-2005. This data set covers the entire Iranian Persian Gulf offshore and Iranian part of the Oman Sea and comprises approximately 100,000 km of multi-client 2D data, 120 wells and 30,000 km of gravity data, all interpreted and available in Kingdom or Petrel workstation formats.

To ensure a full-scale re-processing of the PC 2000 data and development of new related products, GGS-Interica has secured a non-transferable PC 2000 license.

The joint venture company has started the reprocessing of the entire data in preparation for any offshore Iran bidding.
Early results, using the latest demultiple and broadband processing algorithms, show a great improvement in the data which should assist interpretation, AVO analysis, or seismic inversions.

12:55

Lunch & Close

Sponsors of this event

Geospatial Research
Over the last decade, GRL have extensive field experience across the Middle East, including the Zagros, UAE, Oman, and Turkey. In the northern Zagros alone, we have carried out 25 successful field campaigns for 14 companies, covering 40 exploration license blocks over an area of more than 20,000 sq.km., giving us extensive outcrop experience of Cambrian to Pliocene stratigraphy. We have detailed knowledge of structural style throughout the Middle East, and comprehensive understanding of the interplay between regional geodynamics, trap development, and hydrocarbon systems.

In applying our understanding of surface geology to help our clients interpret the sub-surface, we have completed our outcrop-scale vector-based mapping of the Zagros, and have constructed over 8,000 km of balanced cross-sections across SE Turkey, Iraq, Iran and The Gulf. Our Zagros-related products also include very extensive, detailed quantitative data to characterise fractured reservoirs, to provide robust inputs for our clients' Discrete Fracture Network models.

Cambridge Carbonates
Cambridge Carbonates Ltd. is a geological consultancy that provides expertise in carbonate and evaporite systems to the oil and gas industry. As well as offering a range of non-proprietary reports for purchase, Cambridge Carbonates deliver bespoke expertise to clients in regional studies, play evaluations and reservoir characterisation projects.

Global Geo Services AS
GGS provides data from the PC-2000 (Persian Carpet), one of the largest Multi Client 2D surveys ever undertaken. PC 2000 covers the entire offshore Iran in the Persian Gulf and the Oman Sea. The PC 2000 has been collected in exclusive partnership with the National Iranian Oil Company (NIOC), and the data has so far been licensed to 20 oil and gas companies.

A complete broad-band reprocessing is currently being undertaken by DownUnder Geosolutions and managed by GGS-Interica Ltd.

Polarcus
We have a pure play strategy focusing on the marine towed streamer seismic acquisition business, coupled with a strong commitment to minimize our environmental impact in the performance of our work. This clear strategy will ensure that our extensive experience and resources will be fully focused on the successful execution of seismic surveys, whether proprietary or multi- client, 3D or 4D, whilst leaving the lowest possible environmental footprint.

Lynx Information Systems
Lynx Information Systems provides geophysical and GIS services to the petroleum exploration industry worldwide. Operating since 1989, we offer a full range of services, software solutions and GIS data for data handling and data management in upstream environments.

GGS Interica
GGS-Interica is a joint venture company which manages and licenses the Persian Carpet 2000 dataset that GGS acquired during 1999-2005. This data set covers the entire Iranian Persian Gulf offshore and Iranian part of the Oman Sea and comprises approximately 100,000 km of multi-client 2D data, 120 wells and 30,000 km of gravity data, all interpreted and available in Kingdom or Petrel workstation formats.

To ensure a full-scale re-processing of the PC 2000 data and development of new related products, GGS-Interica has secured a non-transferable PC 2000 license.

The joint venture company has started the reprocessing of the entire data in preparation for any offshore Iran bidding.
Early results, using the latest demultiple and broadband processing algorithms, show a great improvement in the data which should assist interpretation, AVO analysis, or seismic inversions.

Registered Delegates

Julian Moore Technical Director APT UK United Kingdom	Richard Jones CEO Geospatial Research Ltd	John Clure Managing Director Phoenix Hydrocarbon Resources Ltd United Kingdom
David Craik Consultant Atlaslocal United Kingdom	Katerina Krylova VP sales and marketing GGS-Interica	David Contreras Gegional Geoscience Manager Polarcus United Kingdom
Joe M Boztas Director/Interpreter Boz Seismic Services United Kingdom	Paul Wilson Senior Explorationist Glencore United Kingdom	James Wallace Area Geophysicist Polarcus
James Hamilton-Wright Geoscientist BP	Trond Christoffersen Chief operating officer Global Geo Services AS	Iain Buchan Polarcus United Kingdom
Katherine Welbourn Geoscientist BP	Daniele Zordan Upstream Oil & Gas Analyst GlobalData United Kingdom	Daniel Buckingham INTERNATIONAL FINANCE BROKER. Pronto Business Funding United Kingdom
Robert Kennedy Managing Director Caithness Petroleum Limited United Kingdom	Geoff Marsden Processing Geophysicist GM Geophysical United Kingdom	Josh King Analyst RAB Capital United Kingdom
Andy Horbury Director Cambridge Carbonates	John Scotchmer Principal Geological Advisor - Petroleum Systems Harbour Energy United Kingdom	Nish Dighe RAK Gas
Jack Turney Cambridge Carbonates	Claire Jones Analyst IHS Markit United Kingdom	Thibaut Burckhart Exploration manager RAK Gas RAK Gas
Andrew Webb Manager, Petroleum Reservoir and Economics CGG United Kingdom	Edward Prescott Chief Geophysicist Impact Oil and Gas United Kingdom	Robert Snashall Consultant RGSConsult United Kingdom
James Andrew Busines Development Mgr EAME CGG United Kingdom	Irina Mosina Imperial College United Kingdom	Patrick Taylor Director RISC (UK) Limited United Kingdom
John Glass MD Cloverfield Consulting Ltd United Kingdom	Ahmed Elghorori Geoscientist Independant United Kingdom	Chris Hayes Well Operations Director RPS Energy United Kingdom
Peter Farrington Geophysicist Consultant Geophysicist United Kingdom	Neil Simons Consultant Independent United Kingdom	Martin Smith Business Development Manager - Operations RPS Energy United Kingdom
Augustus Wilson Consultant Consulting Geologist Middle East United Kingdom	Abdulmohsin Dolaijan Consultant Independent Saudi Arabia	Rob Naylor Seismic Project Manager RPS Ltd United Kingdom
Graham Clevett Managing Director Cornhill Economics Ltd United Kingdom	Mark Robinson Consultant Independent United Kingdom	Stephen Boccioli Technical Director SCDM Energy United Kingdom
Dan Kunkle Director Count Geophysics United Kingdom	Mike Hibbert Independent consultant Independent consultant United Kingdom	Chris Newton Sales Manager Shearwater GeoSolutions United Kingdom
David Boote DBConsulting Ltd United Kingdom	Peter Allen Consultant Layla Resources United Kingdom	Tom Martin Director Shikra Consulting United Kingdom
Raffaele Di Cuia Technical Director Delta Energy Limited Ltd Italy	Richard Walker Geophysical Advisor Lir Resources / Consultant United Kingdom	Christian Bukovics Senior Independent Director Sound Energy Plc United Kingdom
Brian Donnelly Consultant Geophysicist Donnelly United Kingdom	Jon Wix Lloyds Register United Kingdom	Glyn Roberts Director Spec Partners Ltd United Kingdom
Julian Sherriff Downunder Geosolutions	Stephen Morse Technical Director Lyme Bay Consulting United Kingdom	Robin Haworth Stifel
Johannes Sobotzki Data Analyst Drillinginfo United Kingdom	Gerrard Spear GeoScience Director Lyme Bay Consulting Ltd United Kingdom	Sue Wells reprocessing advisor Sue Wells Associates
Mark Lonergan Senior Business Development Manager EPI Group United Kingdom	Rupert Simcox Data Analyst Lynx Information Systems United Kingdom	Felicia Winter Interpretation Geophysicist/ TGS
Jorgen Keyser Equinor United Kingdom	Paul Spencer Senior Production & Seismic Data Manager Lynx Information Systems Ltd United Kingdom	John Weston Principal Ulysses Petroleum Management United Kingdom
Geoff Chambers Lead Data Scientist Evaluate United Kingdom	Chris Morgan Managing Director Lynx Information Systems Ltd United Kingdom	Alastair Bee Westwood Global Energy United Kingdom
Richard McIntyre Sales Manager Finding Petroleum	David Lawton Principal Consulting Geologist/Director Milnwood Partners Limited United Kingdom	Todd Jensen Middle East and North Africa Data Analyst Wood Mackenzie United Kingdom
Avinga Pallangyo Events Coordinator Finding Petroleum	David Bamford Director New Eyes Exploration Ltd UK	Peter Sawyer Business Development Director WSS Energy Consulting United Kingdom
Karl Jeffery Editor Finding Petroleum United Kingdom	Sofia Khan President and CEO Nonlinear Seismic Imaging, Inc. United States	Hugh Ebbutt Associated Director WSS Energy Consulting United Kingdom
Jeremy Berry BD Director GaffneyCline United Kingdom	David Grassick CEO Oil & Gas Enterprises Ltd United Kingdom	Reza Sedaghat Director Zagros Energy Ltd United Kingdom
Anne-Mette Cheese Geology Advisor Gassnova SF United Kingdom	Grenville Lunn Manging Director PGA Ltd	Sara Stephens Sales Manager Zebra Data Sciences
Jonathan Long Senior geologist Geospatial Research	Frederic Yeterian Director Philax International (UK) Ltd United Kingdom