Sami f al rushaid's presentation slides from the 2010 World National Oil Companies Congress
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Transcript of Sami f al rushaid's presentation slides from the 2010 World National Oil Companies Congress
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Strategies to Sustainably Fulfill Energy Needs
London22nd June 2010
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Expected Energy Demand Growth
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Significant energy demand growth expected in any scenario
China, India and ME
Oil & Gas will continue to be main sources of energy, even in more environmentalist scenario
Increasing importance of biofuels and renewables
Coal consumption will significantly decrease if relevant achievements are made on controlling CO2 emissions
Source: IEA World Energy Outlook 2009
MTOE
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Who will supply Oil & Gas Needs?
1258 Billion Barrels
185 Trillion Cubic
Meters
Oil Natural Gas
Source: BP Statistical Review 2009
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Oil Production Growth
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OPEC remains as main source of crude production growth in any scenario, particularly from countries in the Gulf
Significant decline of non-OPEC production, with the exception of Brazil and Russia
Canada Oil Sands growth will be affected if more controls on CO2 emissions are in place
Source: IEA World Energy Outlook 2009
MBD
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Natural Gas Consumption Trends
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Source: IEA World Energy Outlook 2009
Power Generation will drive natural gas consumption increase
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Middle East: Main source of energy supply
Significant investments will take place in the coming years to supply world and local energy needs:
KSA: Saudi Aramco to Invest $90B in O&G Projects to 2015
Iraq: recently awarded 11 mega contracts to IOC’s that may allow to at least double current production capacity in 10 years time
Qatar: Several joint ventures with IOC provides access to latest technologies, paving the way to significantly increase oil & gasproduction
Iran: Plans aims to increase oil production capacity to 8 MMBD by 2015. It will also become a top player on the natural gas business in the region
Kuwait: Strategy in place to increase oil production capacity to 4 million barrels per day by 2020
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Illustrative
KOC Way Forward
Strategy focused on the achievement of sustainable crude oil production capacities in Kuwait
Commitment to security of supply for market stability, stable production growth and OPEC quota compliance
Production Capacity at 4.0 MMBD by 2020
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• 3D Seismic• Dynamic Pre- And Post Processing Techniques• Horizontal Drilling / Multiple Laterals• Game changing technologies – Smart Fields
More Barrels from Matured Fields
CO2 Injection
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Heavy Oil Development
Kuwait
South Ratqa
Heavy Oil: Main source of growth
Significant reserves of 11-15 API located in North Kuwait
Main source of production growth
Targets:
60 kbpd in 2015
270 kbpd in 2030
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Onshore & Offshore Gas
Optimize the production and utilization of associated gas
Maximize production of non-associated gas, both onshore and offshore
Support the energy requirements for the State of Kuwait and its objectives to protect the environment
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Our Challenges
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Human Resources
Unprecedented skills shortage worldwide
Insufficient expertise on EOR, unconventional oils, offshore gas
Technology
Shift from “easy” oil to more difficult oils
A structural, upward cost shift
Access to latest technologies
Environment
Increasing CO2 emissions
Need to increase HSSE standards for safer and reliable operations
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Opportunities – Human Resources
Employment and career opportunities in KOC
We want to become employer of choice in the Gulf Region
We have a plan in place to recruit and retain talented people
We provide a highly performance-oriented environment that motivates and supports development of leadership and technical capabilities
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Key technologies available for projects development
Well Testing
IT Infrastructure, Asset & Data Management
Artificial Lift& Completions
4-D Seismic
Directional Drilling& Measurements
Reservoir Studies
Wireline Logging& PerforationCementing,
Coiled Tubing& Stimulation
Integrated Project Management
Unconventional Reservoirs
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Opportunities: Sustainable partnerships
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Environmental and Carbon Agenda
Full implementation of HSSE Management System in KOC to achieve highest standards on safe and clean operations
Significant reductions on gas flaring and CO2 emissions
Implementation of CO2 capture and sequestration technologies from all major stationary CO2 sources in Kuwait through agreements with specialized companies
Implementation of Air Quality Monitoring Services Project
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Conclusions
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By implementing a comprehensive strategy to effectively manage current energy trends, KOC will continue to be a leading energy company in the Middle East
KOC will develop oil & gas production capacity to supply market needs, in both local and international markets
Several challenges lies ahead. Partnerships and cooperation withIOC’s and Service Companies will be a key success factor to overcome challenges and to develop opportunities
Corporate Social Responsibility and highest HSSE Standards will support KOC contribution to Sustainable Development