Increased oil consumption associated with worldwide economic growth is leading to a tighter margin between demand and supply as well as being a significant factor for increased traded oil prices. During the 2007-2008 oil spike, the sustained price level of $200/barrel was increasingly viewed as a possible scenario in the medium term. While forecasts from major energy agencies project a lower price range in the short-term, uncertainties abound on demand and supply for oil as well as the role of other energy carriers.
The Forum aims to look at the implications for the oil and gas industry of a higher price scenario in the mid to long term. Considering the supply side, increased prices would lead to additional incentives for the industry to developing new technologies that would increase oil recovery above the 35% rate that is observed today. Enhanced oil recovery remains a niche application in most of the field management techniques. What is required to implement existing technologies and what are the promising new concepts for EOR?
The second aspect of the Forum is related to the exploration and development of resources in frontier and harsh environments. What can the industry provide to improve the confidence of the stakeholders that the E&P cycle can be done in a safe and effective manner in those environments?
The third aspect is related to resources that are currently too expensive or too energy intensive. What are the prospects for oil shale developments? Finally, liquid hydrocarbons can be developed from transformation of other hydrocarbons. What is the outlook for Gas-to-Liquids (GTL) and Coal-to-Liquids (CTL) in a higher price environment?
The Forum is aimed at bringing together:
The SPE Forum Series provides nine alternate morning, afternoon, and evening sessions of scheduled and unscheduled presentations with maximum time available for informal discussions and the exchange of experience. Presentations are generally limited to three or four slides. Breakout sessions for discussions are common. A short, written summary of major issues and consensus arising from the Forum may be prepared and distributed to attendees after the Forum at the discretion of the programme committee and with appropriate SPE approval.