Statoil at OTC 2014 - The Power of Possible
-
Upload
statoil-asa -
Category
Economy & Finance
-
view
1.221 -
download
1
description
Transcript of Statoil at OTC 2014 - The Power of Possible
![Page 1: Statoil at OTC 2014 - The Power of Possible](https://reader034.fdocuments.net/reader034/viewer/2022051609/5479bdecb37959492b8b47fe/html5/thumbnails/1.jpg)
The Power of Possible is an Attitude; It is in STO’s DNA
![Page 2: Statoil at OTC 2014 - The Power of Possible](https://reader034.fdocuments.net/reader034/viewer/2022051609/5479bdecb37959492b8b47fe/html5/thumbnails/2.jpg)
Passion - Creativity -
Innovation - Initiative -
Gary Hamel Professor
Strategic Management London Business School
Intellect - Dedication -
Compliance -
The Foundation For Competing
The Competitive Edge
![Page 3: Statoil at OTC 2014 - The Power of Possible](https://reader034.fdocuments.net/reader034/viewer/2022051609/5479bdecb37959492b8b47fe/html5/thumbnails/3.jpg)
WHY NOT & WHAT IF?
Troll Johan Sverdrup Peregrino Bay Du Nord
Troll • What if we could recover the thin oil zone with multi-
lateral wells? Johan Sverdrup • What if oil migrated into that huge flat trap? Peregrino • What if we could buy it all, increase the recovery/de-risk it and then
farm down? Bay Du Nord • Why not execute our ‘access at scale’ strategy in the Flemish, believe in
what we are doing and then de-risk the 3 best high-impact prospects?
![Page 4: Statoil at OTC 2014 - The Power of Possible](https://reader034.fdocuments.net/reader034/viewer/2022051609/5479bdecb37959492b8b47fe/html5/thumbnails/4.jpg)
Why not & What if?
Troll What if we could recover the thin oil zone with multi-lateral wells?
Johan Sverdrup What if oil migrated into that huge flat trap?
Peregrino What if we could buy it all, increase the recovery/de-risk it and then farm down?
Bay Du Nord Why not execute our ‘access at scale’ strategy in the Flemish, believe in what we are doing and then de-risk the 3 best high-impact prospects?
![Page 5: Statoil at OTC 2014 - The Power of Possible](https://reader034.fdocuments.net/reader034/viewer/2022051609/5479bdecb37959492b8b47fe/html5/thumbnails/5.jpg)
![Page 6: Statoil at OTC 2014 - The Power of Possible](https://reader034.fdocuments.net/reader034/viewer/2022051609/5479bdecb37959492b8b47fe/html5/thumbnails/6.jpg)
40 years of experience offshore Norway Hammerfest
Harstad
Bergen
Stavanger
Troll subsea
Stjørdal
![Page 7: Statoil at OTC 2014 - The Power of Possible](https://reader034.fdocuments.net/reader034/viewer/2022051609/5479bdecb37959492b8b47fe/html5/thumbnails/7.jpg)
Kollsnes
Troll A
Troll B
Troll C
35 years history and 50 to go
1979 Discovery well
1990 Long term oil production test
1991 TOGI - Gas export to Oseberg
1995 Troll B
1996 Troll A
1999 Troll C
2000 Troll Pilot
A
A
B
B
10 km 20 km
![Page 8: Statoil at OTC 2014 - The Power of Possible](https://reader034.fdocuments.net/reader034/viewer/2022051609/5479bdecb37959492b8b47fe/html5/thumbnails/8.jpg)
Troll Gas - A giant • Tallest construction ever moved by man
− Height 472 m
− Weight > 1 million ton
− Power from shore
• Largest gas field in the North Sea
− ~40% of NCS gas reserves (50 Tcf)
− Gas to ~10 million European households
• Expected life time 2060+
![Page 9: Statoil at OTC 2014 - The Power of Possible](https://reader034.fdocuments.net/reader034/viewer/2022051609/5479bdecb37959492b8b47fe/html5/thumbnails/9.jpg)
Troll Oil - Impossible made possible
• None commercial oil field in 1980’s − Vertical well technology − Thin oil column (9 - 27 meter) − Large area (770 km2)
• Largest oil producer on NCS 2013 − 120 subsea well slots − 345 well branches (180 wells) − 1 million meter reservoir drilled − 2 100 million bbl reserve ambition
![Page 10: Statoil at OTC 2014 - The Power of Possible](https://reader034.fdocuments.net/reader034/viewer/2022051609/5479bdecb37959492b8b47fe/html5/thumbnails/10.jpg)
Technology driven reserve growth
1985 1990 1995 2000 2005 2010 2015 2020 2025 2030
0,6
0,5
0,4
0,3
0,2
0,1
0
2500
2000
1500
1000
500
0
Recovery factor oil
Inflow controlled
wells
Horizontal wells from
floaters
Branched wells
Ambition
4D seismic
None commercial
Branched wells Branch control RCP(AICD)
Produced
RF oil Million bbls
![Page 11: Statoil at OTC 2014 - The Power of Possible](https://reader034.fdocuments.net/reader034/viewer/2022051609/5479bdecb37959492b8b47fe/html5/thumbnails/11.jpg)
The challenge is becoming even harder….
• Wells located at OWC with thinner oil zone and uneven OWC
• Reservoir length up to 15 000 m per producer
• Valves along well path to choke
back gas and secure even inflow
• Controllable branches
Current phase (< 6 meter oil column)
13m
Initial phase ~2500 m > 6000 m
13m
GAS
OIL
WATER
![Page 12: Statoil at OTC 2014 - The Power of Possible](https://reader034.fdocuments.net/reader034/viewer/2022051609/5479bdecb37959492b8b47fe/html5/thumbnails/12.jpg)
… and we still work on future solutions • More robust well concepts − Fish bones, ditch wells, multi branched
• Dual gradient drilling − Decreasing reservoir pressure - loss - drilling limitations
• Improved AICD technology − Reduce inflow from water and gas producing intervals
• Improved logging tools to optimize well path − Sand quality distribution in reservoir − Distance to GOC
![Page 13: Statoil at OTC 2014 - The Power of Possible](https://reader034.fdocuments.net/reader034/viewer/2022051609/5479bdecb37959492b8b47fe/html5/thumbnails/13.jpg)
![Page 14: Statoil at OTC 2014 - The Power of Possible](https://reader034.fdocuments.net/reader034/viewer/2022051609/5479bdecb37959492b8b47fe/html5/thumbnails/14.jpg)
Johan Sverdrup – the new giant at the Norwegian Shelf
• Among the largest oil discoveries at the NCS • Resource estimate 1.8 – 2.9 billion boe • At peak app. 25% of oil production at the NCS • Plateau production of 550,000-650,000 boe/d • 50 years of production • Investment range USD 17 to 20 billion for phase 1
![Page 15: Statoil at OTC 2014 - The Power of Possible](https://reader034.fdocuments.net/reader034/viewer/2022051609/5479bdecb37959492b8b47fe/html5/thumbnails/15.jpg)
FLORØ
BERGEN
STAVANGER
Utsira High – where the story started
![Page 16: Statoil at OTC 2014 - The Power of Possible](https://reader034.fdocuments.net/reader034/viewer/2022051609/5479bdecb37959492b8b47fe/html5/thumbnails/16.jpg)
• Top quality permability • Medium oil quality (28 API)
Johan Sverdrup – excellent reservoir properties
16/2-6 16/3-2 projected (6km) 16/2-8 TWT (ms)
• Flat and large • Need for pressure support
![Page 17: Statoil at OTC 2014 - The Power of Possible](https://reader034.fdocuments.net/reader034/viewer/2022051609/5479bdecb37959492b8b47fe/html5/thumbnails/17.jpg)
Johan Sverdrup – Modern field center by the largest offshore operator
![Page 18: Statoil at OTC 2014 - The Power of Possible](https://reader034.fdocuments.net/reader034/viewer/2022051609/5479bdecb37959492b8b47fe/html5/thumbnails/18.jpg)
Ambition of 70% • Jackets • Subsea templates • Conventional oil processing • Gas lift
Based on proven technology and project execution experience
Flexible design and options for the future
• Extended infill drilling • Permanent reservoir monitoring • Inflow control devices • Improved production efficiency • Look ahead / look around drilling
recovery rate
![Page 19: Statoil at OTC 2014 - The Power of Possible](https://reader034.fdocuments.net/reader034/viewer/2022051609/5479bdecb37959492b8b47fe/html5/thumbnails/19.jpg)
![Page 20: Statoil at OTC 2014 - The Power of Possible](https://reader034.fdocuments.net/reader034/viewer/2022051609/5479bdecb37959492b8b47fe/html5/thumbnails/20.jpg)
Peregrino oil field offshore Brazil
Peregrino
Peregrino
![Page 21: Statoil at OTC 2014 - The Power of Possible](https://reader034.fdocuments.net/reader034/viewer/2022051609/5479bdecb37959492b8b47fe/html5/thumbnails/21.jpg)
• More than 4 bill bbls of oil in place • Heavy oil – 14 API; high viscosity • Capacity of 100,000 bbl/d • Over 63 million bbl produced since
April 2011 • Development Strategy:
• High reservoir exposure • Flow assurance • Continuous IOR EOR
• Marketing: • Utilizing Statoil’s global marketing network
Peregrino oil field
![Page 22: Statoil at OTC 2014 - The Power of Possible](https://reader034.fdocuments.net/reader034/viewer/2022051609/5479bdecb37959492b8b47fe/html5/thumbnails/22.jpg)
Increased oil recovery program
Discovery well
10 x value realization through technology
First oil April 2011
Making Peregrino Possible
• Changing from vertical to horizontal wells • Reservoir Management allowing produce all water
offshore • Heavy Oil processing competence from Grane field
securing flow assurance
1994 2000 2010 2020
![Page 23: Statoil at OTC 2014 - The Power of Possible](https://reader034.fdocuments.net/reader034/viewer/2022051609/5479bdecb37959492b8b47fe/html5/thumbnails/23.jpg)
11
?? ?? ??
Polymer
Other EOR
Infill drilling Oil-leg injection
2012 2013 2014 2015 2020+
MLT wells AICD first use
AICD full field Broadband
seismic Oil leg Injector
(pilot)
Extended Reach Wells
Infill wells
Peregrino Phase 1 at
project sanction
Already implemented
Execution phase ongoing
Under evaluation
Long term potential
Peregrino IOR | Key Technologies Ambition: 30% recovery
Implementation timeline
![Page 24: Statoil at OTC 2014 - The Power of Possible](https://reader034.fdocuments.net/reader034/viewer/2022051609/5479bdecb37959492b8b47fe/html5/thumbnails/24.jpg)
Longest Open Hole Gravel Pack in Brazil
![Page 25: Statoil at OTC 2014 - The Power of Possible](https://reader034.fdocuments.net/reader034/viewer/2022051609/5479bdecb37959492b8b47fe/html5/thumbnails/25.jpg)
Peregrino Future Development
• Peregrino Phase II, developing South and South West areas
• Additional value creation
− Peregrino C tie back to existing FPSO
− Increased competence on multiphasing transportation allowed us to save to cost of an FPSO
![Page 26: Statoil at OTC 2014 - The Power of Possible](https://reader034.fdocuments.net/reader034/viewer/2022051609/5479bdecb37959492b8b47fe/html5/thumbnails/26.jpg)
![Page 27: Statoil at OTC 2014 - The Power of Possible](https://reader034.fdocuments.net/reader034/viewer/2022051609/5479bdecb37959492b8b47fe/html5/thumbnails/27.jpg)
Opening a new oil basin • Leading basin position
• Bay du Nord – break through oil discovery (300-600 mmbbl)
• Positioned for growth
• Assessing feasibility of accelerated development
• Appraisal and exploration 2014+
![Page 28: Statoil at OTC 2014 - The Power of Possible](https://reader034.fdocuments.net/reader034/viewer/2022051609/5479bdecb37959492b8b47fe/html5/thumbnails/28.jpg)
The development of Flemish Pass will require only proven technology
![Page 29: Statoil at OTC 2014 - The Power of Possible](https://reader034.fdocuments.net/reader034/viewer/2022051609/5479bdecb37959492b8b47fe/html5/thumbnails/29.jpg)
Ice management and other developments will be done in a safe and responsible way
![Page 30: Statoil at OTC 2014 - The Power of Possible](https://reader034.fdocuments.net/reader034/viewer/2022051609/5479bdecb37959492b8b47fe/html5/thumbnails/30.jpg)
Stakeholder Engagement and Commitment
![Page 31: Statoil at OTC 2014 - The Power of Possible](https://reader034.fdocuments.net/reader034/viewer/2022051609/5479bdecb37959492b8b47fe/html5/thumbnails/31.jpg)
Erasing many more IMs in IMpossible; A Key Part of Statoil’s Value Creation Vision
• 4 offshore examples of what IMagination + execution can do
• Many IMs waiting to be erased onshore too; Our NA shale assets are the highest contributors regionally
• You are very IMportant to us; Thank you for cooperation, help and your trust
• Now let’s celebrate!
![Page 32: Statoil at OTC 2014 - The Power of Possible](https://reader034.fdocuments.net/reader034/viewer/2022051609/5479bdecb37959492b8b47fe/html5/thumbnails/32.jpg)