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PLENARY SESSION«In the Middle of Difficulties

Lies Opportunity» OVERVIEWS

David Campbell is accountable for all of BP’s activities and investments in the Russian Federation including its shareholding in Rosneft. He was appointed to this position in 2014 and is based in Moscow.

DAVID CAMPBELL

GOOD BUSINESS FOR ALL SEASONS – IMPROVING BROWNFIELD EFFICIENCY

President, BP Russia

Mr. Campbell joined BP in 1984 on graduation from Aberdeen University with a First Class Honours degree in Engineering Science. He has held a variety of engineering and management positions in locations worldwide, including the United Kingdom, Alaska, Mexico, California, and Iraq. His first assignment in Russia was in 2003, joining TNK-BP as Business Unit Leader, first in the Udmurtia Business Unit and later in the East Siberia Business Unit.

Mr. Campbell was appointed Chief Operating Officer of the new Iraq business following BP’s successful re-entry to the country in 2009. He oversaw all technical and operational aspects in the reactivation of the super-giant Rumaila oilfield. In 2012 he led a BP Group wide review of contractor safety management before being appointed Head of the Group Chief Executive’s Office in BP corporate headquarters in London.For more than 20 years, Tatyana Mitrova has been working in the sphere of analysis of the Russian and

foreign energy markets, including the issues of energy sources’ development and transportation, demand, energy politics, price formation, tax liabilities, and market restructuring. She is the head of the project, «Global and Russian Energy Development Forecast up to 2020».

Tatyana is a member of the Governmental Council of the Russian Federation on the issues of the Fuel and Energy complex, mineral reserves’ replacement, and increase in the economy power efficiency. She is a member of the Board of Directors of E.ON Russia.

Tatyana graduated from economic faculty of the Lomonosov Moscow State University. She has a PhD degree in economics. Tatyana is associate professor of Gubkin Russian State University of Oil and Gas, professor of the Paris Institute of political research (Sciences Po). She is the author of more than 120 articles in scientific and business magazines and collected books on energy problems and four monographies.

TATYANA MITROVA

GLOBAL AND RUSSIAN ENERGY DEVELOPMENT FORECAST TO 2040

Head of Oil and Gas Department, Energy Research Institute of the Russian Academy of Sciences

ABSTRACT

The report will provide a new edition of the «Forecast of the energy development in the world and Russia up to 2040». Previous editions showed high demand of the country for our own vision of the world energy development. Forecast materials are widely discussed in Russia and abroad, they are actively used in state and corporate strategy documents, in scientific and applied research. New edition provides vision of the situation development at the world energy markets and in Russia for the period of up to 2040. New Forecast-2016 provides the following information: 

• analysis of last modifications which transform the established trends in the world economy and energy, and assessment of the world development in the next 25 years;

• forecast results of hydrocarbon market conditions on the basis of the advanced model unit which allows to perform detailed study of the world oil, gas and coal markets;

• detailed analysis of the changes of Russian economy and energy prospects under the influence of new trends: how sensitive will the consequences of these global changes be for Russia?

ABSTRACT

The challenges of today’s energy market are obvious to all of us in the Russian oil industry: decreased revenue and budgets, increased pressure on costs and margins. Oil prices will likely stay lower for even longer, further increasing the requirement to improve performance. We are all under pressure to deliver our production targets with maximum efficiency of cost, schedule, and people. This is our challenge and one that we must meet.

The significance of the brownfields and improving their efficiency has never been greater. The Russian oil industry will likely continue to rely on its portfolio of brownfield assets to deliver its near term production targets. This means optimizing base decline, delivering world class waterflood management, continuously improving drilling and well services capability, and debottlenecking existing facilities. These priorities are even more challenging with increasing watercut, expansion into more complex geology, and integrating subsurface needs within surface capacity.

Meeting this challenge is not magic. It requires focused work based on people, technology, and performance. People with the right training working on the right things. Applying the right technologies that deliver results now rather than years from now. And a relentless pursuit of performance that never stops. This is proven via BP’s experience and track record in improving efficiency in super giant brownfields such as Prudhoe Bay, Rumaila, and Burgan.

Russia’s brownfield portfolio is world class, producing 11.4 mln bpd in 2015, 2nd in the world. The foundation of this is the Russian oil industry’s experience and operating capability. Building upon this foundation will be integral to delivering near term production as well as sustaining it well into the future.

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