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Decisions in E&P ventures are affected by Bias, Blindness, and Illusions (BBI) which permeate our analyses, interpretations and decisions. This one-day course examines the influence of these cognitive pitfalls and presents techniques that can be used to mitigate their impact. Bias refers to errors in thinking whereby interpretations and judgments are drawn in an illogical fashion. Blindness is the condition where we fail to see an unexpected event in plain sight. Illusions refer to misleading beliefs based on a false impression of reality. All three can lead to poor decisions regarding which work to undertake, what issues to focus on, and whether to forge ahead or walk away from a project. Strategic thinking and planning are key elements in an organisation’s journey to maximise value to shareholders, customers, and employees. Through this workshop, attendees will go through the different processes involved in strategic planning including the elements of organisational SWOT, business scenario and options development, elaboration of strategic options and communication to stakeholders. Examples are provided including corporate, business unit and department case studies. This seminar will teach participants how to identify, evaluate, and quantify risk and uncertainty in everyday oil and gas economic situations. It reviews the development of pragmatic tools, methods, and understandings for professionals that are applicable to companies of all sizes. The seminar also briefly reviews statistics, the relationship between risk and return, and hedging and future markets.
The Technical Programme Committee of APOGCE 2021 invites you to submit a paper proposal and contribute to this flagship event. A proper review of your paper proposal requires that it contain adequate information on which to make a judgment. Download our instructions guide to assist you with preparing your paper proposal. The paper proposal should have the necessary clearance before it is submitted to APOGCE 2021. Prospective authors should advise of any clearance problems when the paper proposal is submitted.
The International Energy Agency (IEA) reports that in 2018, the number of people on the planet who lack access to electricity fell below 1 billion for the first time ever. Think about that number – nearly 1 billion people who cannot flip a switch to be able to read after dark or heat food in a microwave oven. Many of those lacking electricity are in Sub-Saharan Africa, where 55% of people lack electricity. In 15 countries, 75% or more of the population are without electricity. Except for brief storm-related outages, most of us who have electricity have a hard time conceiving how difficult life would be without it.
It is the first time the country was a net exporter of crude and petroleum products during a month since the US Energy Information Administration began keeping such records in 1973. A new report predicts that US output will rise to a new record high of 12.1 million B/D in 2020. Even though exports are rising to more than 1.6 million B/D, the US is facing a new bottleneck at its port facilities. The US is emerging as a gas-exporting nation, and that is going to mean big changes globally. One of the world’s leading energy watchers says the second shale revolution will come in the form of LNG exports.
Landmark deal called most significant since 1979 peace treaty. Annual report says that governments have the greatest capacity and responsibility to shape the energy future. LNG as a fuel source has been an energy staple for many Asia-Pacific countries for decades, and is increasing in importance in other regions as countries look to diversify their energy mix.
While the floating liquefied-natural-gas (FLNG) option initially looked promising, high capital expenditure and very high operational expense (OPEX) have limited its potential application, with four potential FLNG projects being canceled in Australasia in the last 2 years. This paper describes a split-process FLNG design where primary production and gas-treatment functions are provided on a host platform while liquefaction occurs on a separate vessel.
A total of 12.2 billion BOE was discovered worldwide in 2019—the highest volume in 4 years, with offshore regions dominating the list of new deposits. Three appraisal wells drilled this year—GTA-1, Yakaar-2, and Orca-1—targeted nine hydrocarbon-bearing zones, encountering gas in high-quality reservoirs in all zones and yielding a combined 160 m of net pay. The Orca-1 and Marsouin-1 wells have derisked up to 50 Tcf of gas initially in place from the Cenomanian and Albian plays in the BirAllah area, more than sufficient to support a world-scale LNG project, partner Kosmos Energy said.
Two discoveries offshore Mexico add to April’s finding in the Norwegian Sea. The Esox-1 well encountered 58 m of high-quality oil-bearing Miocene reservoirs and will be tied back to Tubular Bells production facilities. The Orca-1 and Marsouin-1 wells have derisked up to 50 Tcf of gas initially in place from the Cenomanian and Albian plays in the BirAllah area, more than sufficient to support a world-scale LNG project, partner Kosmos Energy said. India’s ONGC reported an oil find in Colombia’s Llanos Basin as well as a gas and oil discovery in Brazil’s deepwater Sergipe Alagoas Basin. Development of the Tolmount East discovery will be fast-tracked, the operator said.