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CONTACT: Jennifer Castenson (+1.972.952.9321; or e-mail jcastenson@otcnet.org)
RICHARDSON, Texas, U.S.A. (25 January 2005) – Ten Topical
Luncheons planned for the Offshore Technology Conference (OTC),
2-5 May,
at Reliant Center in Houston, Texas, will focus on critical issues
ranging from innovative technologies, to security planning, to
emerging world regions.
The Topical Luncheons, scheduled for Monday, Wednesday and Thursday,
include presentations and discussions about current and future
offshore developments, industry challenges, best practices, new
concepts, case studies and future opportunities.
The Big Surprises in 2005
Matt Simmons, Chairman and CEO, Simmons & Company International
Each year, the OTC planning committee is forced to peer into the
future as it sets the agenda for the next annual conference. Trying
to divine "hot topics" a year in advance is never easy
in an industry as volatile and unpredictable as oil and gas. During
this presentation, Simmons addresses "the big surprises" that
were not visible on anyone's radar screen or planning board as
the 2004 OTC came to a close. Shedding light on why these events
came as a surprise can help energy industry leaders better cope
with doing business under the umbrella of uncertainty that marks
the nature of offshore E&P.
Canada's East Coast Offshore Opportunities
Bruce Bowie, Director General, Energy & Marine Branch,
Industry Canada, Ottawa, Ontario
The east coast of Canada presents significant challenges and future
potential. This luncheon discusses developments and describes measures
being implemented to encourage new investment, maximize industrial
opportunities and support the development of the oil and gas sector.
Offshore energy development in Atlantic Canada is a major contributor
to the economy of the region. In 2002, an Atlantic Energy Roundtable
was formed to bring together the key stakeholders including federal,
provincial and industry leaders. This presentation addresses how
the roundtable has worked on points such as regulatory reform and
industrial opportunities, and reveals the results achieved along
with anticipated future initiatives. This presentation concludes
with a vision of what Canada's east coast could become when it
achieves its full potential.
Innovative Approaches to Gathering Systems for Producing Wells
in Deepwater
John Reed, Chief Executive Officer, INTEC Engineering
Long-distance delivery management addresses the need to expand
the current ability to reach and effectively produce hydrocarbon
deposits farther and farther from significant infrastructure. New
discoveries are smaller and tend to be located farther from production
facilities. Many operators have made huge investments to install
large central production facilities, including Spars, TLPs and
FPSOs to produce the main reservoirs. Yet production from the original
reservoirs will eventually decline. To maintain the facility at
full capacity and to fully exploit the investment made, new reservoirs
must be produced through the facility. The ultimate goal is to
produce from subsea to shore without the need for expensive offshore
production facilities.
The Critical Role Technology Has Played and Will Play in the Global
Reach of BP's Exploration Efforts
James Farnsworth, Technology Vice President, Exploration, BP
Following the mega-mergers of the late '90s, the amount of money
industry spent on exploration in seismic, drilling and the associated
technology development declined substantially. The need to replace
reserves in the face of increasingly complex challenges has forced
the E&P industry to re-emphasize the role of exploration in
resource renewal. In several key cases the majors are taking a
more aggressive approach to technology development, an area formerly
left to the contracting industry. This luncheon focuses on the
growing emphasis on renewal of the industry's reserves base through
exploration and exploration technology development.
Estimating Oil and Gas Reserves-Our Most Important Asset
James Hackett, President and CEO, Anadarko Petroleum Corporation
A company's hydrocarbon reserves are its most important asset, and the proper
accounting and estimation of those reserves are crucial to a company's valuation.
Beyond the SEC guidelines, there is no cookie-cutter, one-size-fits-all approach
to estimating reserves, so investors need to consider a number of factors when
assessing this asset. This discussion focuses on why the industry needs to
expand its disclosure and transparency around oil and natural gas reporting.
In addition, the presentation highlights how all reserves are not created equal
and the important implication of the current value of booked reserves.
The Energy Resources Demand in China and Development of China
Oil Industry
Yuan Guangyu, CEO and President, CNOOC/COSL
With the constant and rapid development of China's economy, the
energy resources demand China is now experiencing is unsurpassed.
The annual growth rate of China's offshore oil and gas output will
be maintained around 20 percent from 2000 to 2005, and 80 percent
of total national crude oil increment will come from offshore China.
Offshore China is one of the richest offshore oil deposit areas
and accounts for one-third of the total reserves of China. With
more major oil companies' participation, China's offshore oil industry
will enter a new era of rapid development. During this luncheon,
attendees will learn about the pressures as well as opportunities
for China's oil industry.
Security Issues for Offshore Oil and Gas Industry
Capt. Ronald W. Branch, U.S. Coast Guard
Recent attacks against operations in the Arabian Gulf give prudent
cause to review the current status of security for all segments
of the offshore industry. During this luncheon, Capt. Ronald Branch
will cover many security measures that offshore operators should
take into account, including known infrastructure vulnerabilities,
consequence management plans, required security procedures, loitering
vessels, suspicious aircraft operating near oilfield facilities,
and more.
Engineering Drives Projects...What Drives Engineering?
William G. Higgs, Cofounder/President, Mustang Engineering
We've all seen good, mediocre and poor projects in our careers.
As each new project comes along, we think about our past experiences
and our basic strategies, and optimistically anticipate a great
project. We know safety, stage gate, the project influence curve
and management of change are key ingredients for what we desire.
This luncheon explores how we can improve project execution by
understanding what drives engineering. When companies look back,
it always seems like the engineering/procurement phase largely
set up the outcome as budgets, contracting strategies, schedules
and decisions are made. So, we know "engineering" drives
project outcomes.
The Future of Subsea Technology
Dick Frisbie, Senior Vice President, Deepwater Technology, Oceaneering
This discussion looks at the direction in which technology and
equipment are progressing in the areas of subsea construction/completion,
intervention and life of field support. This presentation discusses
past and current drivers of these technologies, the cost implications
of these changes, and their likely evolutionary paths. In addition,
the presentation addresses some technologies and processes that
appeared promising but led to dead ends. The discussion will explore
ROVs, AUVs, and Resident ROVs and their associated impacts on deepwater
developments.
Opportunities and Challenges in the Deepwater Gulf of Mexico
David Eyton, Vice President, E&P Segment, Deepwater Development
Projects, BP
BP has an aggressive exploration program in the Gulf of Mexico
that has produced excellent results, yielding a strong portfolio
of large, high-quality development projects. This presentation
explores the plans for a focused exploration program across the
company's portfolio of more than 650 leases - the largest in the
industry. BP operates in excess of 300,000 BOE/D from nearly two
dozen fields in the Gulf of Mexico, while also operating a number
of subsea developments. After the current round of deepwater developments
is completed, the company will be the largest producer in the Gulf
of Mexico.
For more information on speakers, including biographical information
and photos, visit www.otcnet.org/2005.
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Founded in 1969, the Offshore Technology Conference is the
world's foremost event for the development of offshore resources
in the fields of drilling, exploration, production, and environmental
protection. OTC is held annually at Reliant Center at Reliant Park
in Houston. For more information, visit www.otcnet.org.
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