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South Atlantic will be fundamental to supply global demand of 39 million barrels/day

31 Oct 2013

South Atlantic will be fundamental to supply global demand of 39 million barrels/day

Executives from the great global operators debate the pre-salt and other topics at OTC Brasil 

Rio de Janeiro, RJ, Brazil (31 October 2013) - During a recent panel at OTC Brasil, Petrobras E&P Director José Formigli poined out that more than 39 million barrels per day will be necessary to meet the oil demand estimated to 2035.

In the panel session, “E&P Perspectives in the South Atlantic,” Formigli said, “A major part of that oil will originate from deep and ultra-deepwater fields.” In addition to Formigli, executives from some of the largest global oil and gas companies in the world participated in one of the most contended debates of the conference, which was organized by the Offshore Technology Conference and the Brazilian Petroleum, Gas, and Biofuels Institute.     

According to Oliver de Langrant, vice president of French company Total, the demand for oil will increase by 0.6% until 2030. “Significant investments will be required to fulfill the future demand. Technology is the key for the success in this new scenario,” estimated Langrant, who also drew attention to the fact that the search for gas will represent 25% of the global demand for energy in 2035. “Currently, it is around 22%,” he said. 

The strength of the consortium that won the bidding round for the Libra field in the pre-salt layer of the Santos Basin was also a topic among those who took part in the debate. Formed by Petrobras, Shell, Total, CNPC and CNOOC, the consortium was appraised by Formigli. “We were very happy with our partners, who hold a lot of expertise in oil exploration and production worldwide. It is very important to share information in that project,” said Formigli, pointing out that the first Libra oil is expected to be produced by 2020.

Another important company in the consortium that was granted the right to explore Libra, English-Dutch company Shell, was also represented in the panel. Mark Schuster, Shell’s executive vice president for exploration in the Americas, pointed out, among other examples, that the participation of the company in the Troll Field off the west coast of Norway, reinforces the company’s operational capacity. “Shell has a history of turning risks into rewards in deep waters,” affirmed Schuster.            

The panel also had the participation of BG’s Executive Vice President for Exploration Malcolm Brown; Chevron Brazil’s President Eunice Carvalho; and Vice President for ExxonMobil Americas Rocky Becker. The moderator was IBP’s President João Carlos de Luca.

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ABOUT OFFSHORE TECHNOLOGY CONFERENCE
The Offshore Technology Conference (OTC) is where energy professionals meet to exchange ideas and opinions to advance scientific and technical knowledge for offshore resources and environmental matters. Founded in 1969, OTC’s flagship conference is held annually in Houston. OTC has expanded technically and globally with the Arctic Technology Conference, OTC Brasil, and OTC Asia.For more information, visit http://www.otcnet.org.

ABOUT BRAZILIAN PETROLEUM GAS AND BIOFUELS INSTITUTE
The Brazilian Petroleum, Gas and Biofuels Institute (IBP) is a non-profit, private association that gathers around 230 companies and 1,700 volunteer  professionals working in all segments of the petroleum chain, aiming to create a competitive, sustainable, ethic and socially responsible national industry. For this purpose, IBP performs studies and proposals to government authorities; organizes events, such as Rio Oil & Gas Expo and Conference, one of the major oil shows in the world; carries out courses for the energy sector; edits technical books; and elaborates standards for petroleum derivatives and to certify companies' equipment inspection services (refineries, production facilities and petrochemical plants).

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