At our free one day conference in London on April 18th we presented and evaluate some of the technologies and methods with the biggest potential to improve North Sea oil production, and try to understand the costs and the size of the prize.
An interesting announcement from the conference was that Maersk Oil would be happy to dispose of carbon dioxide free of charge, if it was presented with guaranteed supply of large volumes of it.
This is the arrangement whereby oil companies work with carbon dioxide for EOR in the US - no money changes hands as the CO2 passes from source to its use as EOR.
This means that things are still a long way for workable economics for CCS + EOR - if it costs $40 a ton to capture carbon dioxide in a power station, and the carbon price is around $6. But it does mean that power companies cannot make the excuse that there is no practical means of having the CO2 taken off their hands and taken to storage site.
Delegates heard about a wide range of technologies for EOR, including why the return on investment (in terms of increasing production) is much better for EOR than it is for exploration; new techniques to model how rock changes during EOR processes; new methods to understand the subsurface; and new busines models for EOR and CO2.
You can see videos and presentations by clicking on the links below.
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9:30
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David Bamford - - New Eyes Exploration
Welcome & 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.
New Eyes Exploration
New Eyes Exploration, founded by David Bamford, explores new ways to discover Oil and Gas.
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9:40
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Robert West - Research Associate - Sanford C. Bernstein
The decline of production from UK North Sea fields
Sanford C. Bernstein
Helping you build and preserve your wealth through the decades with investment research, financial planning, and wealth management services.
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10:15
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Rafael Sandrea - - IPC Petroleum Consultants, Inc.
The Saga of EOR
Rafael Sandrea is President of IPC Petroleum Consultants, Inc., a Tulsa based international petroleum consulting firm which specializes in oil and gas reserves appraisals and risk analysis for international upstream petroleum investments. He is very active giving seminars, workshops and speaking on the themes of reserves and oil & gas supply, around the world.
Dr. Sandrea is a life-member of the SPE, member of the Editorial Advisory Board of the forthcoming Petroleum Encyclopedia, of the Board of The Open Petroleum Engineering Journal and of the UN Ad Hoc Group of Experts on Fossil Resources. He has published over 30 technical papers, a dozen within the last five years. His latest publications cover areas such as risk analysis for international upstream petroleum investments, appraisal of global oil and gas reserves, development of algorithms for estimating the production capacity of new oil and gas fields, for estimating the reserves of mature oil & gas fields, global offshore oil reserves potential, assessment of global oil and gas resources and their potential for enhanced oil recovery – EOR. Together with Dr. Ralph Nielsen, he has published the book: “Dynamics of Petroleum Reservoirs under Gas Injection”, Gulf Publishing.
His latest research reports: “An In-Depth View of Future World Oil & Gas Supply – A Production Capacity Model” – 2011, and “Comprehensive Assessment of World Crude Oil Supply through 2030” which was just launched in March 2012. These reports are available through PennEnergy’s Oil & Gas Journal Research Center: www.PennEnergyResaerch.com. Search for “crude oil supply”. Some of his articles have been featured in CNN Money and Petroleum World.com. They are available on IPC’s website: www.ipc66.com.
IPC Petroleum Consultants, Inc.
IPC is headed by Rafael Sandrea, former president and CEO of ITS, a Caracas
based petroleum engineering firm he founded and directed for 30 years.
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11:15
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Gordy Shanor - Geology Domain Leader - Schlumberger
Bridging Domains - Solution Workflows for Marginal Field Challenges
Over 30 years of industry experience in the international E&P arena, currently working with change management consulting in the G&G&RE and data management domains, specialized in integrating teams for optimal results in exploration and field development programs for maximal efficiency.
Successful business development and project management of both small and large groups in technical projects focused on operations, reservoir modeling and risk analysis and FDP generation.
Pioneered and helped develop integrated 3D stochastic reservoir modeling softwares with methodologies focused on seismic-to-simulation-to-seismic workflows developed from over 25 years of integrated field studies and modeling in most structural styles and depositional environments.
Proven oil finder, mentor, communicator, trainer, reservoir modeling and data interpretation specialist, using all types and scales of data. Keen interest and involvement with transfer of knowledge and technology through course development and training programs.
Specialties
Change Management Consulting
Technical Project Management
Integrated reservoir modeling adviser
Stochastic Modeling & Uncertainty
Training
Schlumberger
Schlumberger is the leading oilfield services provider, trusted to deliver superior results and improved E&P performance for oil and gas companies around the world. Through our well site operations and in our research and engineering facilities, we are working to develop products, services and solutions that optimize customer performance in a safe and environmentally sound manner.
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11:50
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Kes Heffer - - Future Energy Partners Ltd
Observing reservoir dynamics and changing reservoir management
Talk Description.
This talk proposes that conventional reservoir simulation is deficient in the physics of reservoir behaviour, lacking a geomechanical component that is important to hydrocarbon recovery and general reservoir management. 3 completely independent types of field observations from reservoirs are all consistent with a geomechanical component:
1) compliant microcracks (or anisotropic pore openings) aligned with Shmax at densities close to 'critical' have been inferred from observations of shear-wave splitting in many formations of different types (the work of Stuart Crampin et al).
2) statistical correlations in flowrate fluctuations between wells are characterised by high correlations over very large separation distances between wells, and appear to be stress-related and fault-related.
3) frequencies of fluid directionalities between wells in flooding schemes are strongly biassed towards the major horizontal principal stress axes (Shmax).
A generic geomechanical-flow model that pulls together these reservoir engineering and geophysical observations is described. The anisotropies and heterogeneities of flow that are caused by these geomechanical influences can have major effect on the sweep efficiencies of secondary recovery or EOR flooding schemes; conversely, understanding them in advance can allow more cost effective well configurations or better reservoir management, even for primary recovery operations. The flowrate correlation techniques, with no acquisition costs, lend themselves favourably to providing flow-based information about interwell reservoir properties towards history-matching of reservoir simulators; or for monitoring reservoir behaviour in time-lapse fashion, either alone or as a complement to 4D or micro-seismic surveys.
Future Energy Partners Ltd
Future Energy Partners (FEP) is a unique oil and gas advisory service which prides itself on technical excellence in selected fields and supplementing business management and leadership; in the face of uncertainty.
We offer truthful, professional opinion and advice; no playback of what you already know, and no spin.
FEP was founded by 4 senior industry practitioners who consider the challenges faced by today's oil and gas environment are going to require herculean acts of leadership and technical skill in a transforming, transitioning, industry, in order to maintain an energy supply that is sustainable and even recognisable compared to recent history.
Similarly nations developing an oil and gas industry face related challenges as they seek to maximise the benefits of this new wealth-creating opportunity - in a responsible manner.
Global reach
FEP actively participates in the facilitation and conduct of seminars and webinars worldwide, for example in conjunction with its associate partner Finding Petroleum.
Our presence reaches parts of the globe, such as: the UK, the USA, Sub-Saharan Africa, with partners wherever we work.
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12:25
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Speaker from - - Maersk
CO2-enabled EOR in the North Sea
Maersk
Maersk Group is a worldwide conglomerate. We operate in some 130 countries and have a workforce of some 108,000 employees. In addition to owning one of the world's largest shipping companies, we're involved in a wide range of activities in the energy, logistics, retail and manufacturing industries.
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12:25
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Lars Hende - Director commercial and strategy CO2 EOR - Maersk
Maersk
Maersk Group is a worldwide conglomerate. We operate in some 130 countries and have a workforce of some 108,000 employees. In addition to owning one of the world's largest shipping companies, we're involved in a wide range of activities in the energy, logistics, retail and manufacturing industries.
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13:00
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Prize Draw followed by Lunch & Refreshments
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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.
Carbon Capture Journal is specifically about developments with industrial scale carbon capture and geological storage technology, with news about the major projects and development with government policy. Informing you about developments in carbon capture, storage, and related government policy, in a way which is clear, useful and won't waste your time
Maersk Group is a worldwide conglomerate. We operate in some 130 countries and have a workforce of some 108,000 employees. In addition to owning one of the world's largest shipping companies, we're involved in a wide range of activities in the energy, logistics, retail and manufacturing industries.
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Exploration & Production Director
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Sam Botterill
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Energy Institute
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Keith Cherrington
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Tony Grindrod
Trustee
AAPG Europe
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Alex Martinos
Senior Analyst
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David Bamford
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Michael Robinson
Director
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Valerie Clure
Director
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Henry Lang
Oil and Gas Sector Leader
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John Clure
Managing Director
Phoenix Hydrocarbon Resources Ltd
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Claude Heller
Director Business Development Europe
Air Liquide
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simon fraser
director
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Group Information Manager
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Phillip Siggery
Technical Sales
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Richard Smith
Business Development Manager
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Ian Roberts
Reservoir Engineer
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Chris Moss
Company Process Advisor
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MIKE GOODFELLOW-SMITH
DIRECTOR
QUEST
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Oswald Clint
Senior Analyst
Bernstein Research
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Wolf Heidug
IEA
France
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Josh King
Analyst
RAB Capital
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Kieron Stopforth
Analyst
Bloomberg New Energy Finance
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Rowena Gunn
Geologist
IHS
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Mark Redway
Fund Manager
RAB Capital
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chris roberts
principal
BS consultants
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Henry Morris
VP Corperate Development
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Kes Heffer
Director
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Wai Cheung
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Luis Merida
Imperial College
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Nick Bright
Retired
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Paul Zakkour
Director
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Rafael Sandrea
President
IPC Petroleum Consultants, Inc.
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Robert Snashall
Consultant
RGSConsult
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Business Development
CCS TLM
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ITE Group plc
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Consultant
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Donna Andrews
Sales Executive
CCS TLM
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Proposals Engineer
J Murphy & Sons Limited
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Business Dev. Exec.
SCCS
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Commercial Director
CCS TLM
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J. Murphy & Sons Ltd.
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Business Development Executive
SCCS
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Ann Barrett
Researcher in CCS
Cranfield University
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Mark Osborne
Technology Manager Oil & Gas
Jacobs
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Martyn Potter
Marketing Manager
Schlumberger
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Mohamed Naser
Head
Dara Libya QHSE Services
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Erik Bek-Pedersen
Maersk Oil
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Oguz Gurbuz
Associate Engineering
Scotia Waterous
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Alex Michie
Darwin Park
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Lars Hende
Director Commercial & Strategy
Maersk Oil
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CAT MANTLE
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Chief Petroleum engineer
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Senior Associate
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Senior Consultant
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Multi-client Survey Operations
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Business Relationship Manager
National Metals Technology Centre
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Trap Oil Group plc
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CCS Sales Manager
Doosan Power Systems
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Associate
Norton Rose
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Consultant
TUV SUD NEL Ltd
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Project Manager
EEL
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Consultant
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Research Associate
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Business Development Manager
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Account Director
Ovum
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Managing Director
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Consultant
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