Envisioning global prosperity as a new era emerges

IPTC 2020 will be the first international multi-disciplinary, inter-society oil and gas conference and exhibition to take place in Saudi Arabia. This edition will see the industry’s stakeholders gather together to discuss the new global energy vision and the collaboration needed to make it a reality.

Amin Nasser, president and CEO, Saudi Aramco, said, “Innovation and technology have long been key enablers of profitable growth in our industry. But to meet society’s increasing demand for ultra-clean energy we need far greater collaboration across our industry (and with other industries) to enable a more sustainable, industry-led, technology driven energy future.

“Innovation and technology can also inspire young hearts and minds to join us on a mission with profound meaning. That is why we are very honoured and excited to host IPTC 2020 under the patronage of HRH Prince Mohammed bin Salman bin Abdulaziz Al-Saud, Crown Prince, Deputy Prime Minister, and Minister of Defense, for the first time in the Kingdom of Saudi Arabia.”

World-class event

Mohammed Al Qahtani, IPTC 2020 executive committee chair and senior vice-president, Upstream, Saudi Aramco, said, “This is an historic moment for the industry. We must continue to focus on our traditional strengths of abundant resources, safe production, and reliable and affordable supply. But we must also bring the strength of the entire industry to bear on a new, clear, and compelling mission of meeting the world’s growing demand for ultra-clean energy in the ongoing global energy transformations.

“With IPTC 2020 coming to Saudi Arabia for the first time ever, this is a timely opportunity to focus on the technologies, policies, and investments we will need to thrive in this new era. With the overall theme of ‘Vision to Prosperity: A New Energy Emerges’, the conference will address all these issues, with key decision-makers from government and industry, supported by more than 100 conference sessions, more than 700 technical papers, and one of the largest exhibitions with more than 150 exhibitors. This world-class event will attract more than 8,000 participants, and provide organisations with a platform to showcase the emerging technologies that will be central to our industry’s contribution.”

“Attendees can look forward to several keynote sessions, including a CEO plenary session and an Energy Think Tank Plenary Session, and a relentless focus on practical solutions to all these challenges. In particular, how together we in upstream can shape our ecosystem, how we can innovate and commercialise technology, and how we can recruit, harness, and retain the skills of our talented people and deploy this worldwide talent to address the historic challenges and opportunities ahead.”

According to Peter Coleman, CEO and managing director, Woodside Energy, “Our industry plays a crucial role in the new energy era, and IPTC provides an opportunity to share knowledge and insights that support this. Our experience investing in industrial scale technologies and supplying reliable energy to customers around the world is a good foundation to build on as we aim to reduce emissions while extending access to modern energy. Woodside is playing its part, preparing to develop the Scarborough and Browse natural gas resources to supply this growing demand.”

Another important feature of IPTC 2020 is the Executive Plenary Session: ‘Shaping the Upstream Ecosystem for a New Energy Era’. Jeff Miller, chairman, president and CEO, Halliburton, who will speak at this session, noted that, “Technology that improves productivity will drive future returns and will be key as we look to 2020. Halliburton looks forward to participating in the International Petroleum Technology Conference – a premiere industry event where we have the opportunity to discuss the technology and innovation that leads our industry forward.”

Addressing the challenges

Several speakers from the Energy Think Tank Plenary Session share their thoughts on the challenges that the industry faces. Mark G. Papa, chairman, Schlumberger, said, “One of the factors that needs to be considered as we look at the 2020-2025 global oil supply/demand picture is the likely slowdown in US shale oil YOY growth. This is caused by both increased capital discipline by producers and decreased growth capacity in two of the three main US shale oil fields.”

“Among the most important challenges being faced by the petroleum industry is the need to address growing public concerns about emissions, especially carbon dioxide. The concept of the ‘circular carbon economy’ – closing the loop to reduce, reuse, recycle, and remove CO2 from the atmosphere – encourages the use of all options to mitigate CO2 emissions. This framework would deal effectively with climate goals while still allowing hydrocarbon fuels to be used for economic development,” remarks Adam Sieminski, President, King Abdullah Petroleum Studies and Research Center (KAPSARC).

According to Bassam Fattouh, director, Oxford Institute for Energy Studies, University of London, “Oil market dynamics are currently being shaped by two opposing forces. On the supply side, output disruptions at a historical record, slower US shale growth and high OPEC compliance have restricted supplies to the market. On the demand side, on the other hand, slower global economic growth and USChina trade tensions have adversely affected oil demand and market sentiment. In the medium to long term, prospects of global oil demand are becoming increasingly uncertain, while availability of finance could impact investment and supplies. How will all these factors play out and what are the implications for oil prices and producers' energy policies?”

Maximising financial and human resources

On the subject of investment, Scott W. Tinker, director, Bureau of Economic Geology, The University of Texas at Austin, observed, “Informed energy investment will benefit from the critical, global analysis of the complex interplay between energy, the economy and the environment.”

Neal Anderson, president and CEO, Wood Mackenzie, said, “We need the best minds to optimise energy markets for all our needs. At IPTC, I can’t wait to discuss this not only with my esteemed colleagues on the panel, but with everyone participating. We need to make progress fast, to innovate imaginatively, and lead the change.”

A comprehensive programme

Apart from the plenary sessions, five panel sessions will highlight topics such as ‘The Role of IR 4.0 in Revolutionising the Oil and Gas Industry’, ‘Emerging Technologies and Challenges from Exploration to Development’, ‘The Future of Gas: From Wellhead to Market’, ‘Talent Development and Workforce Diversity’, and ‘The Unconventional Business: Recycling the Know How’. The IPTC Society Presidents Panel Session will see presidents from the American Association of Petroleum Geologists (AAPG), the European Association of Geoscientists and Engineers (EAGE), the Society of Exploration Geophysicists (SEG), and the Society of Petroleum Engineers (SPE) discussing important developments and issues in the respective societies.

Four seminars will focus on topics such as reservoir compartmentalisation, reserves and resources, geomechanics, and machine learning, offering attendees the opportunity to enhance their technical knowledge. The Diversity and Inclusion Panel Sessions and Workshop will include discussions on best practices to increase diversity, promote inclusion, and encourage the concept of belonging.

IPTC ‘Excellence in Project Integration’ Award

The IPTC Excellence in Project Integration Award is given to a project that adds value to the industry and exemplifies strong teamwork, solid geoscience knowledge, reservoir and production engineering acumen, determined and watchful construction, and outstanding facilities engineering practices. The Award will be presented on the first day of the conference, and the three finalist projects will be presented in a special Showcase Session.

For information on how to register, please visit go.iptcnet.org/regnow