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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