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Shell urges the energy industry to rise up to the challenge at IPTC

United Arab Emirates: Tuesday, December 04 - 2007 @ 13:39

“According to the International Energy Outlook 2007, the worldwide marketed energy consumption is projected to grow by 57% between 2004 and 2030”, said Raoul Restucci, Executive Vice President, Shell Middle East, Caspian and South Asia. “We see continued rapid growth in population and energy demand, decreasing reserves of easy oil and sweet gas and continuing shortfalls in experienced human resources all set against the need to improve security of supply while reducing the CO2 footprint.”

“The world consumes energy now at a rate of 200 million boe (barrels of oil equivalent) per day, with 80% supplied by oil, gas and coal”, said Michael Naylor, Vice President Technical, Shell Exploration & Production. “So, our industry will have to consider three things. Firstly, we will increasingly be exploring for deeper targets, often in more difficult environments. Secondly, we will have to find ways to commercialise difficult and unconventional hydrocarbons. And thirdly, society increasingly expects us to mitigate the effects of hydrocarbon use – i.e. find solutions to CO2 emissions to counteract climate change.

Shell faces these concerns with a three-pronged approach – integration across all businesses, technology and innovation and human resources and capabilities. It is essential to ensure a combination of the above is employed in order to secure a future of sustainable energy.

Successful exploration companies integrate different technologies and capabilities and as such this leads to better business decisions. The use of technology also helps to maintain adequate financial performance through de-risking plays and prospects. Shell uses three principles with regards to technology: innovate, integrate and replicate.

A skilled taskforce is ultimately the most important factor for the success of any organisation. Dr. Zara Khatib, Manager, EPM Technology Marketing, Shell Exploration & Production, is chairing the Education Week being held at the IPTC 2007. Education Week will enable final-year undergraduate, science, geoscience and engineering students from qualified institutions worldwide to interact with major industry employers to gain insight into the industry they will be working in.

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Tuesday, December 4- 2007 @ 13:39 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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