An abstract from the paper by Dr. Keith Milheim, Managing Director of MEPS-First Oil (former Chief Technology Officer of Anadarko) titled “Expediting Exploration and Development of deepwater fields in West Africa” explains that; the history of oil exploration includes the natural evolution from land to offshore to deep water offshore. Underneath a vast majority of the oceans, in 5oo ft to 10,000 ft water depths, oil and gas fields have been discovered with some of them developed and producing millions of barrels of oil. The Golden triangle of this deep water production is the Gulf of Mexico, offshore Brasil and Offshore west Africa.. More deep water oil and gas fields have been discovered in these three areas than all the rest of the world’s deep water regions. However, there have been a large number of deep water fields that will not be discovered for years to come, even with high oil prices. Why? Another reality is geophysics and geological analysis shows there are even more deep water fields, probably a greater number than have been discovered, yet to discover. Yet the vast majority of these fields will not be drilled. Why? The simple answer to both questions is that conventional perceptions of reserves and deep water technology, costs, time, and the deployment of human resources continue to limit the development of these deep water fields.
This paper explains why billions of barrels of deep water o/g fields, already discovered, will not be developed in the foreseeable future, using the conventional deep water technology practised by almost all the oil companies. The paper also explains why companies will not pursue a great many hot prospects for exploration in deep water when the prospects look too small. The bottom-line is: most concession holders of what is considered marginal oil and gas deep water fields will not exploit these fields to commerciality.
The paper introduces another possible, non-conventional approach for exploiting what is considered marginal deep water prospects, both discovered and yet to be discovered. This new deep water enabling technology can commercialize deep water fields in a fraction of the time compared to the conventional exploration and production processes. Overall using this new tech. there is significantly higher NPV, due to timing, significant reduction in financing volume due to low CAPEX and instant cash flow, and a significant reduction in need for large engineering and technical capacity due to less complexity.
Other well seasoned technical papers, strategic case studies, financial and geopolitical analysis to guide investors in doing oil and gas business in Sub-Saharan Africa that will be showcased in this year’s 4th Annual Sub-Saharan Africa Oil & Gas conference, 2011., scheduled for April 28 -29 at the Marriott West Loop, Houston. Include: Accelerating the development of marginal oil and gas fields in Sub-Saharan Africa, Growing a small E&P company in small but significant steps, Doing well testing without flaring gas, UniQ solutions for unique challenges in tight sand and shale reservoir, Seismic velocities as an exploration tool, Gas in West Africa, impact of fiscal terms on the bookability of company, Lessons from Gulf of Mexico spill, challenges and issues of project capitalization and debt structuring, the changing face of African energy politics, ooming reforms in oil and gas policies in Sub-Saharan Africa, Angola, Senegal basin potentials and opportunities, Outlook of Mali’s exploration, oil and gas projects and opportunities in Congo, and of course, contractual training commitment, Russia’s interest in Africa, Strategies and structures of doing business with China, Tullow’s meteoric rise – A thoroughly African success story, and many others.
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