Layer | Fill | Outline |
---|
Map layers
Theme | Visible | Selectable | Appearance | Zoom Range (now: 0) |
---|
Fill | Stroke |
---|---|
Collaborating Authors
The Society of Petroleum Engineers (SPE) and the American Association of Petroleum Geologists (AAPG) announced today that the two organizations are exploring the possibility of becoming one. The SPE and AAPG said in a release that their respective leadership bodies gave unanimous consent to form a steering committee that will review the benefits of merging to form a new professional organization. The decision comes as a response to both the global energy transition and the market challenges driven by the COVID-19 pandemic. "Many of our stakeholders have made it clear that they do not have the resources to support as many professional organizations going forward. We believe that, as changes in the industry accelerate, the new organization would be the professional community of choice for a generation of professionals and students who are committed to driving long-term change across the energy sector," Tom Blasingame, 2021 SPE President, said in the announcement.
Richardson, Texas and Tulsa, Oklahoma (25 May 2021) -- The American Association of Petroleum Geologists (AAPG) and the Society of Petroleum Engineers (SPE) announce an exploration of the benefits and opportunities of a merger creating the energy professionals' organization for the future. With unanimous consent from the AAPG Executive Committee and the SPE Board of Directors, a steering committee was created to explore opportunities to form a new combined organization in response to an evolving energy sector and challenging COVID-impacted market environment. "Our two organizations have worked together side by side for many years on numerous initiatives and global events, notably the Offshore Technology Conference, International Petroleum Technology Conference, Unconventional Resources Technology Conference, and the Petroleum Resources Management System. Joining forces would bring the best of both organizations together and provide additional value to engineers, geoscientists, and the broader energy sector," said Rick Fritz, AAPG President. The industry relies on subsurface geoscience and engineering teams rather than siloed disciplines.
- North America > United States > Texas > Dallas County > Richardson (0.26)
- North America > United States > Oklahoma > Tulsa County > Tulsa (0.26)
Just as the pandemic situation is receding and restrictions to entry in many countries have been lifted, the geopolitics of the invasion of Ukraine by the Russian army has led to nearly historical highs in gas and oil prices. SPE was one of the first global energy-related societies to issue a statement from its leadership on Ukraine. SPE’s leadership condemns the human tragedy unfolding in Ukraine and supports all actions by the international community to prevent further escalation of the conflict. We also encourage all efforts to find a peaceful solution. SPE is providing financial support through our sections in the region to aid with food and humanitarian aid, and the evacuation of our Ukraine-based members and their families. The worldwide spare capacity in oil production (mostly limited to Middle Eastern countries such as Saudi Arabia, UAE, and Iraq) is so low that it would be insufficient to prevent oil prices from skyrocketing, should further restrictions be imposed on Russia’s oil exports. The upstream underinvestment resulting from two downcycles in 2015 and 2020 has strongly impacted both production capacity and record-low reserve discoveries. Higher energy prices are leading to global inflation and to an economic slowdown, a macroeconomic phenomenon called stagflation. In this context, 2022 had a strong start for SPE, with the International Petroleum Technology Conference (IPTC) being held in Riyadh, Saudi Arabia, for the first time (the previous edition was held in Dhahran) with an attendance of more than 13,000. The efforts by the IPTC organizing program and executive committees were exceptional, with an enthusiastic involvement of Saudi young volunteers. The IPTC Excellence in Project Integration Award was the opportunity to recognize exceptional projects as a showcase of technology, efficiency, collaboration, and sustainability. Such projects make us all feel proud to be part of the oil and gas industry. Saudi Aramco’s exclusive sponsorship also contributed to the great success of IPTC. The Saudi hosts organized two geological field trips, the first one being “A Visit to Jurassic Succession and Edge of the World.” The second was “The Great Discovery,” one of the world’s most historically significant geological localities—the magnificent outcrop of Dahil Heet which contributed to the discovery of the world’s largest oil deposits. I was very impressed by the progress made by the city of Riyadh in the promotion of sustainability, including an outstanding public transportation system with six metropolitan lines being developed simultaneously. In May 2021, the SPE Board of Directors and the AAPG Executive Committee announced that they were exploring the possibility of a merger between the two organizations. The Steering Committee, comprising volunteers, was created to define the conditions for the merger and worked tirelessly to develop a merger plan. SPE’s leadership viewed the idea of a merger, which has been broached many times over the years, as a catalyst for change that our organization needs. We must better position SPE to address declining corporate support and the significant loss of younger members, as well as deal with the changes occurring in our industry.
- Energy > Oil & Gas > Upstream (1.00)
- Government > Regional Government > Asia Government > Middle East Government > Saudi Arabia Government (0.55)
We are ramping up for a member vote on the AAPG-SPE merger, which will begin in late February. I wanted to take the opportunity to address SPE young professionals and students and discuss why I believe this merger is a positive step towards your future. SPE young professionals and students face different challenges and have different opportunities than my generation faced early in our careers. We are an industry that is at the crossroads of different trajectories for the world's energy future, and in some of the scenarios, losing relevancy. We must be the organization that supports our young professionals in pursuing all opportunities the energy industry has to offer today and tomorrow.
Kamel Ben-Naceur is CEO of Nomadia Energy Consulting, where he advises on sustainable energy policies and global and regional energy economics and outlooks. He has worked as the chief economist for a major oil and gas company and for an oilfield services company. Ben-Naceur has also worked as a director of the International Energy Agency and as the industry, energy, and mines minister for the Tunisian government. He has chaired several SPE global committees, including Business Management and Leadership, the International Forum Series, and CO2 Capture, Utilization, and Storage. He has also taught several SPE courses on global energy and strategic thinking and planning.
- Africa > Middle East (0.35)
- Europe (0.30)