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BP Executive: True Test of Downturn Will Come During Recovery

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BP Executive: True Test of Downturn Will Come During Recovery 2016.otcnet.org Tuesday, May 3 | Houston, Texas | THE OFFICIAL 2016 OFFSHORE TECHNOLOGY CONFERENCE NEWSPAPER | DAY 2 BP Executive: True Test Fiery Ice of Downturn Will Come Takes Center During Recovery Stage n Leading experts to discuss advances n Energy demand is expected to increase by one-third by 2035, but oil and gas in E&P testing of gas hydrates during companies need to start looking at hydrocarbons as products to streamline. Wednesday luncheon. BY DARREN BARBEE “It’s how we will improve through BY JENNIFER PRESLEY the productivity of our oil sector and magine the oil and gas world as an assembly line, put costs on a downward curve.” t is the ice that burns, and it is more than an industrial Ichurning out cubes of oil and natural gas. Assem- For instance, BP’s Mad Dog Ihazard plugging pipelines. It goes by many names—fire bly lines are efficient. Changes mean swapping out Phase 2 project in the Gulf of Mex- in the ice or fiery ice being two of the more popular descrip- one part—not the entire system. Industrial and avia- ico went through about $10 billion tors. Gas hydrate is the curious clathrate formed by natural tion companies typically cut costs annually. But on the in cost trims, Looney said. gas and water. Found in the Arctic and in the deepwater hydrocarbon conveyor belt, cost efficiency doesn’t seem “This was a $20 billion project, continental margins around the globe, the energy poten- to follow any logical pattern. Bernard Looney and we’ve brought it down to under tial of this other unconventional hydrocarbon is keeping “In oil and gas, specifically the upstream, costs as we $10 billion with expected returns researchers busy unlocking its secrets to better understand know tend to follow oil price and in general have trended improved despite a lower oil price,” he said. its environmental and economic impact. upward over time,” said Bernard Looney, BP’s CEO for However, the real value might be in opening up the “Gas hydrates present an enormous potential to upstream, May 2, at OTC. “We need to change this.” company to using more technology and collaboration. contribute in the natural gas supply basket and can The U.S. shale revolution, Looney said, is part of the In 2015, the company teamed with Maersk to train rig affect the gas market, if commerciality is established way forward—a fundamentally different mindset that teams in an immersive simulator in advance of an Egyp- within the foreseeable future,” said Pushpendra the industry should adopt. tian project. Kumar, Keshav Dev Malviya Institute of Petroleum “This combination of innovation and continuous Exploration, ONGC. improvement is the driving force for the future,” he said. See DOWNTURN continued on page 23 In light of the current market difficulties, the impor- tance of a goal like gas hydrate commercialization might not be immediately clear. However, for countries like Japan, Korea and India, the need is there. “Gas hydrates are very important for India in view of the huge demand-supply gap leading to the import of Petrobras, Partners Rise LNG at high cost and planning for natural gas transpor- tation through transnational pipelines,” Kumar said. Encouraging results from recent exploration and to Challenges with Lula field testing programs show that gas hydrate deposits are technically recoverable. These results and more will be the focus of a special lunch discussion on Wednes- day, May 4, titled “Gas Hydrate Exploration and Pro- NE Pilot duction Testing: Encouraging Results and Future Plans” from 12:15 p.m. to 1:45 p.m. Scheduled to join n Production from the field is pushing Petrobas closer to its 1-MMbbl/d Kumar on the panel are Dan McConnell, Fugro; Tim- othy Collett, U.S. Geological Survey; and Ray Boswell, presalt goal. U.S. Department of Energy. Collett will provide an overview of world activities, BY VELDA ADDISON Add to this the pressures of being a fast-track proj- including the first gas hydrate marine production test ect in the early development stage of the Santos Basin in Japan. Boswell will present on current perspectives hen Petrobras and partners began the Lula NE Presalt Cluster, a new frontier in 2009, charged with not on gas hydrate evaluations as a resource, including Wpilot project offshore Brazil, they had a tall order only gathering data that could prove beneficial in future the latest concepts of resource volumes, exploration to fill—implementing new technologies as part of a fast- field developments but also for generating revenues to approaches and production technologies. track project facing several technical challenges. help finance other nearby presalt fields while doing its Kumar will specifically cover results from the 2006 Indian These include reservoir fluid variations, the presence of part to help the company reach a 1-MMbbl/d target National Gas Hydrate Program Expedition 01 and from the fluid contaminants such as CO₂, a high gas-oil ratio and water from presalt fields in 2017. recently completed Expedition 02 in his presentation. He depths of 2,120 m (7,300 ft) with no “off-the-shelf” proven also will speak to the efforts being made by India to com- subsea technology capable of handling such field conditions. See CHALLENGES continued on page 23 mercialize gas hydrates within the next five years. n SCHEDULE Editorial Director Peggy Williams OF EVENTS SM E&P Group Managing Editor Jo Ann Davy All events in conjunction with OTC 2016 will be held at NRG Park in Houston, Texas, unless noted otherwise. Editor-In-Chief Mark Thomas Tuesday, May 3 7:30 a.m. to 5 p.m. .................................. Registration Executive Editor Rhonda Duey 7:30 a.m. to 9 a.m. .................................. Topical/Industry Breakfasts Senior Editor, Drilling 9 a.m. to 5 p.m. ...................................... University R&D Showcase Scott Weeden 9 a.m. to 5:30 p.m. .................................. Exhibition Senior Editor, Production 9:30 a.m. to 12 p.m. ................................ Technical Sessions Jennifer Presley 12 p.m. to 2 p.m. ..................................... Distinguished Achievement Awards Luncheon Chief Technical Director, (formerly the Annual OTC Dinner) Upstream Richard Mason 12:15 p.m. to 1:45 p.m. ........................... Topical Luncheons 2 p.m. to 4:30 p.m. .................................. Technical Sessions Associate Managing Editor Ariana Benavidez 4 p.m. to 6 p.m. ...................................... Networking Event Senior Editors, Digital News Group 7:05 p.m. ............................................... OTC Night at the Ballpark (Houston Astros vs. Velda Addison Minnesota Twins at Minute Maid Park) Darren Barbee Contributing Editors Harry Brekelmans Wednesday, May 4 Domenic Carlucci 7:30 a.m. to 5 p.m. .................................. Registration George Griffiths Phaneendra Kondapi 7:30 a.m. to 9 a.m. .................................. Topical/Industry/Ethics Breakfasts Philippe Lavagna Manoj Nimbalkar 9 a.m. to 5 p.m. ...................................... University R&D Showcase Oscar Rivera 9 a.m. to 5:30 p.m. .................................. Exhibition Chris Serratella Vibha Zaman 9:30 a.m. to 12 p.m. ................................ Technical Sessions Corporate Art Director 12:15 p.m. to 1:45 p.m. ........................... Topical Luncheons Alexa Sanders 2 p.m. to 4:30 p.m. .................................. Technical Sessions Senior Graphic Designers 4 p.m. to 6 p.m. ...................................... Spotlight on API Global Standards Networking Event Robert Avila Felicia Hammons 4 p.m. to 6 p.m. ...................................... OTC Reaching Out and Reaching Up— Networking in the Downturn Photography by CorporateEventImages.com Production Manager Thursday, May 5 Gigi Rodriguez 7:30 a.m. to 2 p.m. .................................. Registration Vice President-Publishing 7:30 a.m. to 9 a.m. .................................. Topical/Industry Breakfasts Russell Laas 9 a.m. to 2 p.m. ...................................... Exhibition HART ENERGY LLLP 9 a.m. to 5 p.m. ...................................... University R&D Showcase 9:30 a.m. to 12 p.m. ................................ Technical Sessions President and Chief Operating Officer 12:15 p.m. to 1:45 p.m. ........................... Topical Luncheons Kevin F. Higgins 2 p.m. to 4:30 p.m. .................................. Technical Sessions Chief Executive Officer 4 p.m. to 5 p.m. ...................................... OTC Closing Reception Richard A. Eichler The OTC 2016 Daily is produced for OTC 2016. The publication is edited by Friday, May 6 the staff of Hart Energy. Opinions ex- pressed herein do not necessarily 7 a.m. to 4:30 p.m. .................................. d5 at Rice University reflect the opinions of Hart Energy or its affiliates. Hart Energy 1616 S. Voss, Suite 1000 Houston, Texas 77057 OTC Night at the Ballpark 713-260-6400 main fax: 713-840-8585 Join your colleagues tonight for OTC at the Ballpark, an evening of major league baseball. Come out to watch the Houston Astros play the Minnesota Twins! The game starts at 7:05 p.m. at Minute Maid Copyright © May 2016 Park. For more information or to purchase tickets, visit astros.com/OTC. Hart Energy Publishing LLLP OTC SHOW DAILY | MAY 3, 2016 | TUESDAY 3 Industry’s Perspective on Subsea Separation Future n The challenges that still exist for subsea separation were discussed during a Monday breakfast panel at OTC. BY DR. PHANEENDRA KONDAPI separated water, and opportunities to reduce bulky and heavy equipment. ubsea separation technology is one of the fastest Welcoming the audience and panel speakers, session Sgrowing technologies due to its huge potential to chairman Dr. Phaneendra Kondapi addressed that subsea increase recoverable reserves and to accelerate pro- separation projects have been installed in the North Sea, duction. It also enables cost savings by moving some of Gulf of Mexico, West Africa and Brazil, and many other the traditional topsides processing to the seabed. Sub- subsea field developments are in the process of consider- sea separation also eliminates multiphase flow for long ing subsea separation systems.
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