  n With more than 40 major upstream projects slated through the end of the decade, BP is relying on technology and a talented workforce to meet future energy demands. B P plans to help meet the world’s growing energy de- mand by pumping as much as 80% of its capex into upstream operations. Technology will be at the heart of meeting the demand, which is expected to jump 36% by 2030, creating a need for 16MMb/d more oil than is needed today, according to Lamar McKay, BP’s upstream chief executive. Speaking during the sold-out “Unlocking the Future: BP’s Global Upstream” topical breakfast Monday at OTC 2013, McKay said BP plans to drill as many as 25 new ex- ploration wells per year as the company continues to ac- quire and interpret seismic data. “By testing at least 10 new material conventional and unconventional opportunities every decade, we want to be able to add at least two more new signicant produc- ing areas over the next 10 years, each with multibillion barrel potential,” McKay said. “Worldwide, we have ac- cessed acreage covering more than 150,000 sq miles since 2010. at’s an area roughly the size of Califor- nia and twice as much as we acquired in the previous nine years.” Areas holding promise include Brazil, Canada, Trinidad & Tobago, Uruguay, Australia, and the US, among others. However, BP is focused heavily on Angola, Azerbaijan, the Gulf of Mexico (GoM), and the North Sea, areas that combined are expected to generate half of the company’s operating income by 2020, McKay said. Admittedly an upstream-biased business, BP has slated BY VELDA ADDISON T he operator-funded DeepStar global technology initiative has been the upstream industry’s most successful collaboration in tackling the challenges of the deep. But according to a panel of leading experts from oil companies and contractors, the need for plenty more collaboration and standardization as the off- shore industry pushes into the world’s ultra-deep wa- ters is crucial if it is to achieve its aims of both accessing new reserves and also maximizing produc- tion from its existing assets. Speaking at an OTC 2013 DeepStar panel session on Monday, Occo Roelofsen, director of the global oil and gas practice at McKinsey & Co., highlighted the offshore industry’s success in pushing its average water depth 100 m (328 ) deeper every year over the past 10 years. “We predict that over the coming 10 years the industry will also see its deepwater liquids production grow by 7% over that period.” The need, therefore, for collaboration initiatives such as DeepStar is vital for its success, he contin- ued. If the Gulf of Mexico was being operated by one single company, it would dramatically speed up the process of bringing fields onstream, developing standardized technical solutions, and maximizing the value of its assets. This theoretical single opera- tor, Roelofsen said, would have around US $50 bil- lion of projects today in action but would have the potential to turn those projects into assets with a net present value of up to $110 billion mainly through optimization. It also would have the ability to reduce capex and opex by an estimated $46 billion over the next decade, he added. Although this single company is, of course, just theoretical, Roelofsen’s point is that further industry collaboration could go a long way toward achieving some of the gains that the single entity company OTC2013 w ww.OTC.com TUESDAY, MAY 7, 2013 | THE OFFICIAL 2013 OFFSHORE TECHNOLOGY CONFERENCE NEWSPAPER | DAY 2 OFFSHORE TECHNOLOGY CONFERENCE | HOUSTON, TEXAS SM   n Diversication through offshore exploration and foreign ventures helps achieve growth. P etrovietnam has gone from being an E&P company in Vietnam to a vertically integrated energy company in Vietnam that is involved in oil and gas production, re- ning and petrochemicals, international E&P, power generation, and oileld services. e company has been expanding its operations internationally to increase its reserve position. Petrovietnam has gone from being an E&P company in Vietnam to a vertically integrated energy company in Vietnam that is involved in oil and gas production, re- ning and petrochemicals, international E&P, power generation, and oileld services. e company has been expand- ing its operations internation- ally to increase its reserve position. “We have been producing oil and gas mostly on the continen- tal shelf. We are exploring off- shore. We have not found much onshore,” Dr. Do Van Hau, pres- ident and CEO of Petrovietnam, Dr. Do Van Hau COLLABORATION IS KEY TO DEEPWATER ADVANCES n Joint industry projects can lead to increased technology capable of maximizing production. See  continued on page 46 See  continued on page 21 See  continued on page 3 BY SCOTT WEEDEN Lamar McKay BY MARK THOMAS [...]... to launch the first licensing round in the same day approved by the council of ministers,” Bassil said in The Daily Star report “But if the decrees were not issued [by a new] cabinet before September 2013, we will have to delay the bid like what happens in many countries.” The caretaker cabinet could, however, gain permission from the president and Parliament speaker to pass the decrees if the matter... complex and require the maximum flexibility in their module logistics In addition, the use of HTVs can be far from optimal, oen resulting in HTVs lying idle In the conventional approach, an HTV arrives at the fabrication yard to commence the loading operation is phase of the transport is oen inefficient While the HTV is idle at the quayside, a peak in manhours occurs during the execution of the loading operation... of the top basement and top of sediments was performed in a single operation e contact of the sediments on the top basement was handled automatically through use of the stratigraphic column (unconformable contact between the basement and the sediments) and the nondepositional curve e resulting horizons were smooth and clean while preserving the complexity of the fault network At the creation of the. .. the interpretation Questions about fault extensions within the sediments could be answered for the first time anks to the preservation of all the faults in the model and the analysis of the vertical and lateral extent from the basement to the surrounding sediments, precise flow pathways were identified in the reservoir n 36 TUESDAY | MAY 7, 2013 | OTC SHOW DAILY ... and significant savings, the company said Statoil started working to develop remotely operated hot tap technology for offshore pipelines in 1999 According to the company, these operations had previously been performed on Tampen Link on the Statord field in the North Sea and on the Ormen Lange field in the Norwegian Sea, but the critical T-piece already had been installed on the pipeline in advance For... of the basement on the flanks), and between horizons (the top of the basement is an unconformity) Only a few faults had been kept in the structural model, oversimplifying the reservoir grid and thus failing to capture realistic flow behavior While a wealth of geophysical and other relevant data had been collected to help clarify the situation, these data were This is a typical seismic profile in the. .. limits in place the driller used the MPD system for maximum effectiveness and avoided any well control incidents to safely deliver the well to its target depth Visit Weatherford at booth 413 in Hall B to learn more about these and other MPD advancements designed to keep deepwater wells under control during each stage of the drilling process n TUESDAY | MAY 7, 2013 | OTC SHOW DAILY Offshore Assets Need... alternative to the long-held belief of producing from the “bottom up” of the well Other Meta solutions include the Meta Casing Reconnect, which adopts Metalmorphology to deploy itself over existing casings, thereby allowing operators to reinstate well integrity and focus on their original well plans; and the Meta Isolation Barrier, which provides a permanent barrier to annular or zonal flow within the well... placed the potential mean recoverable resources in the Levant basin at 1.7 Bbbl of oil and 122 Tcf of natural gas,” the EIA said n 29 The Case for Simplicity and ‘Cold-Work’ in Offshore Piping Operations O CONTRIBUTED BY QUICKFLANGE AS perators today are facing a number of challenges in relation to the maintenance and continuing integrity of their offshore and subsea assets as these assets come to the. .. onshore option at the proposed Browse LNG precinct near James Price Point.” Woodside’s latest move puts the FLNG option in pole position and underlines the progress the solution has made in recent years, the most high-profile example being Shell’s Prelude development Regarding the current state of the Browse project, Coleman said, The cost escalation on Browse has been consistent with other projects in . achieving some of the gains that the single entity company OTC2013 w ww.OTC.com TUESDAY, MAY 7, 2013 | THE OFFICIAL 2013 OFFSHORE TECHNOLOGY CONFERENCE NEWSPAPER | DAY. on pumping the drilling uid into the dual drillstring annulus through the top-drive adapter and down to the dual-oat valve at the top of the conventional