Tuesday, September 20, 2016
The Geological Society
So far in this decade Exploration has been both disappointing and gas prone – we explorers have a performance problem!
And then (2014 onwards) of course with the crash in oil price, companies – if they have been lucky enough to survive – have slashed exploration budgets.
And now there are the rumblings of a ‘next phase’ from the Majors – “let’s chase small stuff with shorter lead times”, “big isn’t best”, “anyway there’s Iran opening up” etc etc.
Not a great time to be an explorer?
Well, here’s the thing…..
In around 3 years’ time, there will be a global supply problem with the Majors short of new barrels.
So we have two or three interesting questions to answer:
Where should we be exploring?
How should we be exploring; where is improved performance going to come from?
Who is going to do it, if the Majors have ‘given up’?
We at Finding Petroleum aim to focus a handful of events on these topics, beginning on September 20th at the global level: which regions offer the most promise and which the least? And then we will consider in turn Mexico & the Caribbean; Performance Improvement using Machine Learning/Analytics; North Africa & the Eastern Mediterranean; Unconventionals.
Please drop me an e-mail if you would like to contribute….
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