Oil & Gas Offshore. Industry challenges in deepwater discover

Transcription

1 Oil & Gas Offshore Industry challenges in deepwater discover

2 Galp Energia E&P portfolio spread over 4 continents, with main assets located in Portuguese speaking countries 2 Integrated position Enduring partnerships Portugal 7 Reputable partners East Timor # of projects Core area Potential area 28 Brazil 4 Angola 3 1 Namibia Mozambique 1

3 Oil & Gas Offshore Industry challenges in deepwater discoveries Sector Overview and Trends

4 Perspectives for a strong growth in energy demand until 2040: more 31% that in 2014 with growth rates of 1.0% per year Gobal Energy Demand (Mtoe) CAAGR * 1,0% ,8% ,1% 3,3% ,9% ,1% New Policies Scenario da IEA; Source: IEA - World Energy Outlook OCDE China India Africa Rest of world * Compound average anual growth rate

5 World Primary Energy demand show grows 1,0% a year until 2040, according to International Energy Agency projections New Policies Scenario da IEA; Source: IEA - World Energy Outlook 2016

6 In the last decade major discoveries took place in deepwater, which has seen its weight increased in the overall O&G discoveries Billion Boe 45 The weight of deepwater in Oil & Gas global discoveries 44 80% % 52% % 74% % 63% 66% 17 70% 60% 50% 40% 30% 20% 5 10% Deepwater Others Total % of total Source: Wood Mackenzie and Bernstein Research 0%

7 Deepwater share in global supply will significantly increase in the next years by more than 4 billions barrels/day 7 Global liquids supply by type (Millions BOE/day) 6% 9% Source: ExxonMobil Energy Outlook 2014 e IEA World Energy Outlook 2013

8 Oil & Gas Offshore Industry challenges in deepwater discoveries Challenges of the offshore activity

9 Offshore exploration meant a big step for the O&G industry 9 Onshore Offshore Source:

10 However deepwater brought a new paradigm with even more challenges As the depth increases, operations, equipment and techniques increase their complexity and costs m 1000 m 1625 m m Source: Seadrill

11 11 The Oil & Gas industry faces important challenges to realize potential of deepwater new frontiers E&P Risk Geological Political Economic Major E&P challenges Technological Cost inflation Project delays Environmental sustainability How to achieve it Investments and Costs control Research & Development (Technology breakthroughs) Safety, Security and Environmental impact alert Development of Human Capital

12 Standing in the frontier of known technology ultra deepwater relies on disruptive advances to realize their potential and improve economics Technology breakthroughs might maximize production, increase operational efficiency and improve economics Technology is the name of the game

13 Technological developments and tailor-made solutions are key to overcome technical issues specific to ultra deepwater projects Specific equipment Drilling rigs Risers Umbilicals Subsea architecture FPSO Christmas trees Manifolds BSR

14 Engineering technology frontier in the drilling and wells completion Engineering in offshore ultra deepwater Reduce high drilling costs of drilling and wells construction with the greatest potential for improving economic indicators: Reduced downtime for drilling and completion through the implementation of new technologies (drills, mud, etc.) Reservoir acid stimulation Use of simpler and standardized metal alloys or composite materials Improved cementing Sources: Petrobras and Galp Energia Improvement of intelligent completion systems, mainly the installation processes reliability and simplification

15 Subsea Architecture Norwegian System (300 m) Deep sea power generation High tension supply Fluids separation Boosting ROVs

16 Gas offshore exploration is a considerable challenge, promoting the emergence of different solutions Pipeline Extracted Offshore Gas Transport by a gas carrier The decision between the two alternatives depend on factors such as: Distance Operators involved and business relations among them Costs Local regulation Technip FLNG Source:

17 Safety, security and environmental impact are key drivers for offshore activity success 17 Safety is the compass of the business Source: Galp Energia, Petrobras, Seadrill

18 Oil & Gas Offshore Industry challenges in deepwater discoveries Other maritime requirements for the upstream activity

19 E&P integrated activities lead to multidisciplinary and correlated challenges Sereval interactions and needs are generated, in terms of equipment and expertise, such as: 19 Exploration Exploration especific equipment Support vessels Production Platforms Raisers and other production equipment Other related activities Logistics Ports Refinery (oil) Pipeline (gas) Distribution NOME DA APRESENTAÇÃO 2016

20 Other constrains: offshore operating logistics 20 Great distance from the coast Planning and ensuring the supply the required deadline, material and fluids; Optimizing staff transportation; Real-time tracking of materials and equipment; Optimization of supply and teams support.

21 Oil & Gas Offshore Industry challenges in deepwater discoveries Importance of R&D and Training in the Oil&Gas sector

22 Skilled human capital availability is vital to achieve the ongoing projects in upstream, mainly through technological developments Some of the core skills in several scientific specialties 22 Geology Geochemistry / Geophysics Petrophysics Geomechanics Petroleum Engineering Geo-Engineering Reservoirs Strengthening human capital skills and talent development based on: R&D promotion and advanced training aligned with international best practices Use of best technologies available in operations and projects Marine and environmental sciences

23 Networks of cooperation in R&D as a way to address technological challenges of the Oil & Gas sector Actors in the effort of R&D in the Oil & Gas industry Strategic actors in technological development: 23 Scientific community Operator R&D Partners Equipment and services providers Joint Venture Operators and JV Partners: investing in technology to realize their projects in new frontier areas or unconventional Suppliers of equipment and services: today hold of the technical knowledge, products, people and solutions necessary to the operation of E&P Scientific community: it operates in filling skill gaps of the O & G industry, allowing technological development in academic environment Cooperative networks allow the transfer of knowledge necessary to the operation of E&P

24 Oil & Gas Offshore Industry challenges in deepwater discover