March 19, 2015


Description

After comparing forecasts of production, reserves, cost, schedule and value creation with the actuals realized, IPA (Independent Project Analysis) concluded that the state of the field development forecasting business is the equivalent of a yellow or red card in soccer. Something has to be done to make the forecasts more realistic and less biased towards the optimistic. At the same time, the E&P business is facing a VUCA future (volatile, uncertain, complex and ambiguous) and it is very important to account for the key uncertainties and risks in individual field developments and in the aggregate portfolio of company assets – as individual field and composite ambitions are arrived at and communicated. Add to this the need for E&P to adapt and to turn itself into a better performing E&P2.0 via imagination, innovation (of technology, big data, the internet of everything, AI, business model, collaboration2.0,..) and ‘creative destruction’ to combat low oil and gas prices, the high break-evens and the too low return on investment in the view of investors.  All these aspects will be addressed and a key recommendation is that 2015 must be the year of cross-discipline thinking! 


Featured Speakers

Speaker Helge Hove Haldorsen
Helge Hove Haldorsen currently holds the positions of VP Strategy & Portfolio and Mexico Country Manager for Statoil Development and Production North America in Houston. Helge has an MSc in Petroleum Engineering from The Norwegian Institute of Technology in Trondheim and a PhD in Reservoir Engineering from the University of ...

Helge Hove Haldorsen currently holds the positions of VP Strategy & Portfolio and Mexico Country Manager for Statoil Development and Production North America in Houston. Helge has an MSc in Petroleum Engineering from The Norwegian Institute of Technology in Trondheim and a PhD in Reservoir Engineering from the University of Texas at Austin. Helge was a Second Lieutenant in The Royal Norwegian Navy and held various positions within reservoir engineering at Esso Exploration Norway in Stavanger, Sohio Petroleum Company in San Francisco and Anchorage and The British Petroleum Company in London. Helge joined Hydro in 1987 and held a number of key management positions with the company: Chief Reservoir Engineer, VP Exploration & Research and President E&P International. After the acquisition of the Houston-based independent ‘Spinnaker’ by Hydro in 2005, Helge served as the President until the merger with Statoil in October 2007. Helge has served on the Society of Petroleum Engineer's (SPE) Board of Directors for 3 years and he has been an SPE Distinguished Lecturer and an SPE Distinguished Author. He has written many technical papers and articles and has been a Professor of Industrial Mathematics at the University of Oslo as well as a lecturer at Stanford University. Helge is currently a member of the Cockrell School of Engineering Advisory Board at The University of Texas at Austin and a member of the OTC and SPE Boards of Directors. Helge is SPE’s 2015 President.

Full Description

Speaker: Event sponsored by OPC
Speaker Event sponsored by OPC

Oilfield Production Consultants


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Organizer

Rafael G. Barroeta and Juan Carlos Picott

This event is sponsored by:


OPC - Oilfield Production Consultants


Date and Time

Thu, March 19, 2015

11:30 a.m. - 1 p.m.
(GMT-0500) US/Central

Event has ended

If you do not have a full-time job in the oil and gas industry, are a full-time student or Member in Transition (MiT) member, and you do not see a discounted registration fee for students/MiT regarding this event, please contact the GCS manager at spe-gcs@spe.org.


Location

Sullivan’s Steakhouse

4608 Westheimer Rd
Houston, TX 77027
United States



Group(s): Reservoir