the society of petroleum engineers in the world we live in
TRANSCRIPT
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The Society of Petroleum Engineers in the world we live
in. Mr. Egbert U. Imomoh
2013 President In Dallas September 2013
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Agenda • The world we live in and future energy demand. • World reserves. • New Frontiers. • SPE- yesterday, today and tomorrow.
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The World We Live In • World economy still on the mend.
• Future economic growth uncertain but demand for energy expected to increase.
• Addition to current reserves will become more complex (geology and geography) thus increasing the cost of bringing production to market.
• Production from Unconventionals making an impact.
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Drivers for increase in demand for energy
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Summary for energy demand
More Energy
demand
More Wealth
More people
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Future demand for energy World energy consumption in expected to increase by about 50% between 2008 and 2035 with half of the increase attributed to China and India.
Fossil fuels will continue to supply almost 80% of world energy use in 2035
Renewables are the world’s fastest-growing energy source, at 2.8% per year; renewables share of world energy grows to roughly 15% in 2035
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Agenda • The world we live in and future energy demand. • World reserves. • Impact of unconventionals. • SPE- yesterday, today and tomorrow.
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BP Statistical Review of World Energy 2012 © BP 2012
Distribution of proved oil reserves
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Distribution of proved gas reserves
BP Statistical Review of World Energy 2012 © BP 2012
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Reserves growth over the years Year Oil (billion bbls) Gas (Tcm)
1991 1033 131
2001 1267 169
2011 1663 208
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Major areas of change in reserves 1991 to 2011
Oil: Canada +136billon Orinoco+220 billion Russia +120 billion Libya + 17 billion Nigeria + 25 billion
Gas: Russia + 68Tcm Qatar + 30Tcm Australia +3Tcm
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Agenda • World reserves. • The world we live in and future energy demand. • New Frontiers. • SPE- yesterday, today and tomorrow.
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World oil production
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World gas consumption forecast
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Agenda • World reserves. • The world we live in and future energy demand. • New Frontiers. • SPE- yesterday, today and tomorrow.
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New Frontiers • Arctic • Deep-water • Application of technology to extract more from
what we already have • Unconventionals
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Arctic Frontier U.S. Geological Survey report estimates: • Area north of Arctic Circle may contain
22% of the world’s undiscovered, technically recoverable oil and gas resources.
• 26.6 billion barrels of recoverable oil and 130 trillion cubic feet of natural gas exists
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Arctic Frontier: Challenges • Wide temperature variations
(-50° to +30°C) • Extreme cold requires special
facilities and processes. • Huge investment required –
necessitates partnerships • Some projects put on hold.
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Deep-water Reserves • Deep-water holds 5-7% of
world’s hydrocarbon resources 40% yet to be discovered.
• In 2010, deep-water contributed 6% of global hydrocarbon production rising to 9% by 2020 as production doubles to nearly 16 million boe/day.
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Deep-water Frontier Challenges: • Safety/environment • Deep-water wildcats drilled in 2007
to 2012 had 38% success rate. • High exploration and drilling costs • Small finds are too remote for stand-
alone development.
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Impact of Enhanced Oil Recovery (EOR) • EOR techniques becoming central to meeting
world’s increasing needs. • A 10% incremental recovery of OOIP by EOR and
related technologies can add 600 billion barrels of recoverable oil.
• Over the next 25 to 30 years, EOR can add 25 million BOPD.
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Basins with shale oil and gas
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Unconventionals: America Sets the Pace • Many countries have huge reserves of
unconventional oil and gas but the U.S. has used technology at a very rapid pace to produce shale gas/oil.
• Many counties have noticed the development and wish to set sail as well.
The Economist March 16th 2013
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LTO contributes to rising US production
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Unconventionals: Why the U.S. Has Succeeded?
• Private rights • Alignment of producer and land owner interest • Developed existing infrastructure/easy delivery
to the market • Large efficient rig fleet and support equipment • Skilled labour staff
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Impact in the US • Increased disposable household income by $1,200 in 2012, rising to $3,500 in 2025; • Generated $74 billion in government revenues in 2012, rising to $138 billion in 2025; • Attracted U.S. capital investments totalling $121 billion in 2012, rising to $240 billion by 2025; • Contributed $284 billion to the U.S. GDP in 2012, rising to $533 billion by 2025; and • Supported $150 billion in earnings for U.S. workers in 2012, rising to $269 billion by 2025. :HIS global study
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Obstacles in Other Regions • Monopoly/Lack of competition • Lack of alignment • High-cost regime • Insufficient equipment base • Limited experienced workers • Availability of water.
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How Will We Measure Future Industry Success?
• Ability to meet the demand for oil and gas • Operate safely in a cost effective/environmentally
friendly manner • Obtain respect and acceptability by society • Ability to attract young talented professionals
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Agenda
• World reserves. • The world we live in and future energy demand. • New Frontiers. • SPE- yesterday, today and tomorrow.
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SPE History
1871 • AIME was founded in Pennsylvania, USA, to advance the production of
metals, minerals, and energy resources through the application of engineering
1913
• Founded as SPE, a constituent society of AIME • Separate incorporation in 1985 1957
• A standing committee on oil and gas was created within AIME and proved to be the genesis of SPE
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One SPE
• SPE is a diverse community of professionals that provides valuable knowledge and services to those professionals and to the industry in varied forms
• Concept of One SPE reflects the goal that each function and activity of the Society should serve the broader membership while addressing local needs, supporting technical and professional excellence, and making wise use of Society resources.
• Voluntary donation of time and talent by SPE members is our most vital asset and the creative energy of volunteers must be encouraged and supported by the Society
One SPE Guiding Principles adopted by the Board in September 2001
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SPE over the last 10 years 10 Years Ago TODAY
Membership professionals/students 55,000+ 110,000+
Number of Sections 150 191
Number of Student Chapters 130 264
Number of SPE Offices 4 7
Number Training Courses & Meetings 30+ 140+
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SPE is unique
• It is a global not-for-profit organization.
• It exists mainly for the benefit of its members, who are the owners of the organization and its major customers.
• While it has a fairly large full time staff, the technical content for the programs of SPE is developed mainly by its members.
• Thus, we are operating an organization in which the owners, workers and customers are all the same people, SPE’s members.
Slide 34
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SPE’s most significant achievements over past decade
–Globalization of SPE membership, offices & services
–OnePetro – multi-society online library –Expansion of conferences, workshops and
training –Young Professionals initiatives –Membership growth
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SPE Global Offices
Dallas (1946) London (1991) Houston (1995) Kuala Lumpur (1995) Dubai (2003) Moscow (2007) Calgary (2009)
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Growth in SPE Membership 1960-2012
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SPE Membership Growth
694 392 901 1,7404,185 2,776 1,818 3,224
5,005
26,00029,367 28799
14,112 14,50416,781
22,368
34,614
53,73349,768 48,649 46,913
71,19175,395
81765
1960 1965 1070 1975 1980 1985 1990 1995 2000 2010 2011 2012
Student Membership Professional Membership
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Future growth in membership
52000
2000
110000 2012
???? 2020
39
38,800 1980
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World Reserves and SPE’s Membership
Membership: 13.95% Reserves: 1.10%
Membership: 4.05% Reserves: 3.80%
Membership: 1.96% Reserves: 18.70%
Membership: 11.35% Reserves: 5.40%
Membership: 48.84% Reserves: 9.80%
Membership: 3.09% Reserves: 11.10%
Membership: 15.63% Reserves: 50.00%
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Professional Members by Region Year-end 2012
41
48.84%
13.95%
15.63%
11.35%
4.05%
3.09%
1.96%
0.14%
0% 10% 20% 30% 40% 50% 60%
North America
Europe
Middle East
Asia Pacific
Africa
South America and Caribbean
Russia and Caspian
Unknown
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Student Members by RegionYear-end 2012
42
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Diverse Technical Disciplines
43
25.38%
24.49%
21.17%
10.27%
10.63%
5.73%
2.31%
0% 10% 20% 30%
Drilling and Completions
Reservoir Description and Dynamics
Production and Operations
Management and Information
Unknown
Projects, Facilities, and Construction
Health, Safety, Security, Environment, andSocial Responsibility
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Diverse Job Classifications
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Diverse Company Categories
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Increased Number of Conferences, Workshops and Forums
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SPE’s most significant past achievements
–Maintaining membership value along with growth
–Success in bringing together industry societies for joint activities
–Sense of community for E&P industry –Financial strength
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How will we measure future success?
• Ability to meet the demand for oil and gas. • Operate safely in a cost effective/environmentally
friendly manner. • Obtain respect and acceptability by society. • Ability to attract young talented professionals.
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There will be a scramble for talent • Big crew change. • Expansion of the industry. • Deployment of new technology. • Competition from other sectors. • Not enough students studying science subjects. Deloitte’s 2011 Talent Technology Survey Report, affirms that “nearly two-thirds of executives surveyed identified talent retention as one of their top-two business
challenges.”
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Policies for attracting talent • Sow early seeds. E.g. SPE’s programme of Energy4me and
ambassador programme. • Early contacts with potential recruits. • Packages must be competitive. • Jobs must be challenging. • Mentoring should be in place. • Training must receive topmost attention.
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Threats to SPE Success • Oil and gas price volatility • Technical quality of SPE programs
– SPE must ensure that technical quality is not compromised by growth
• Volunteerism – Growing membership in areas without tradition of volunteerism – Pending retirement of many active volunteers – SPE programming heavily dependent on volunteers
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“Even if you are on the right track, you’ll get run over if you just sit
there.” Will Rogers
So although SPE has been successful over the years we need to continue to position ourselves for a ever changing world.
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The World We Live In: a recap • Future economic growth uncertain but demand for energy
expected to increase.
• Addition to current reserves will become more complex thus increasing the cost of bringing production to market.
• Unconventionals making an important impact.
• IT and telecoms world expanding daily.
• Image of our industry still needs to be improved and stakeholder expectations increasing.
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Retreat Objectives • To revisit the SPE mission; create a 10-yr vision
for SPE • To discuss the future direction of SPE • To develop 3-6 key high level strategic
intents/priority goals to guide the institution over the next five years
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Why strategic leadership? • In a world that is changing faster than ever…
we should pursue sustained superior performance by: Understanding the external and shaping the
internal. It attempts to anticipate and solve future problems Embracing the ‘new’, modifying the ‘old’ and
jettisoning the no longer relevant
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Confirmed SPE’s Mission
To collect, disseminate, and exchange technical knowledge concerning the exploration, development and production of oil and gas resources, and related technologies for the public benefit; and to provide opportunities for professionals to enhance their technical and professional competence
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Revised SPE’s Vision Statement
Enable the global oil and gas E&P industry to share technical knowledge needed to meet the world’s energy needs in a safe and environmentally responsible manner
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Key Strategic Priorities • Capability development (to support industry in dealing
with the big crew change) • Knowledge transfer • Promoting professionalism and social responsibility • Public education about petroleum engineering
profession and industry issues
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SPE Strategic Framework 2013-2017
Mission
• Collect, disseminate, and exchange technical knowledge concerning the exploration, development and production of …; and to provide opportunities for professionals to enhance their technical and professional competence.
Vision
•Enable the global oil and gas E&P industry to share technical knowledge needed to meet the world’s energy needs in a safe and environmentally responsible manner
Strategic Priorities
• Capability development; Knowledge transfer • Promoting professionalism and social responsibility; SPE as a technical
authority/resource • Image of petroleum engineering profession and industry
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Capability Development
• Accelerate competency development • Support faculty development and retention • Fill faculty gap with experienced professionals • Facilitate lifecycle learning strategies (for any career
stage) • Assess competency
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Knowledge Transfer • Maintain and enhance technical quality within SPE programs • Address volunteerism issues • Make knowledge available on-demand and in user friendly ways • Address language issues • Take full advantage of communications technologies • Enable identification and closure of technology gaps • Complete and promote use of PetroWiki • Serve as a curator of content • Determine future of peer reviewed journals • Facilitate mentoring
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Promoting Professionalism and Social Responsibility • Emphasize SPE professional code of conduct • Incorporate ethics and ethics education in SPE
programming • Provide certification – general as well as discipline specific • Promote safety and environmental protection as high
priorities with our membership • Maintain integrity and independence of SPE
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Public Education about Petroleum Engineering Profession and Industry Issues
• Attract young people to the industry • Develop public awareness programs based on
technology • Serve as a technical authority/trusted source of
unbiased information • Leverage membership to provide expertise on technical
issues
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Implementation
• Board members identified Top 10 issues for initial implementation efforts
• Board Committees and special work groups will be developing initiatives to allow SPE to make progress in each of these areas
• Board will track progress in these areas and re-evaluate priorities and opportunities periodically
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Communications • JPT column by 2013 SPE President, Egbert
Imomoh, in June 2013 discussing new strategic plan
• Strategic plan is posted on the website –English available March 28 –Spanish, Russian, and Chinese translations will be
posted by April 30
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SPE to Continue to Meet Member Needs
Improve Technology Innovation
Contain Costs and Ensure Profitable Programs
Globalize SPE’s Education Program
Target Areas Where Membership is Low
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World oil production
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Revised SPE’s Vision Statement
Enable the global oil and gas E&P industry to share technical knowledge needed to meet the world’s energy needs in a safe and environmentally responsible manner
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Congratulations!
• Your 60 years anniversary. • Outstanding student chapter.
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SPE IS YOU AND YOU ARE SPE