, Schlumberger Research
[Host: Tom Gallagher]
Crude oil production forecasts point to a drop of 40 M b/d of conventional oil by 2030. Although the financial and economic crisis has driven global energy lower in 2009 for the first time since 1981 on any significant scale, demand will resume its long-term upward trend once the economic recovery gathers pace. By 2030, world primary energy demand is forecast to be around 45% higher than today â this is like adding two more United States to world consumption. There is therefore a drive to develop alternative energy sources as well as unconventional hydrocarbon reserves to replace the lost production from conventional reservoirs. Given that conservative estimates of Heavy Oil reserves approach 6 trillion barrels, and that heavy oil production today is approaching 10% of world production, it is reasonable to suppose that a significant percentage of the production shortfall would be filled through the production of heavy oil. These facts and the significant increase in average crude oil price since the turn of the century have led to an increased level of interest in these types of reservoirs. It is also true that due to the nature of heavy oil, while the reserves are significant, the recoverable reserves are around 5%-7%. The challenge is therefore to develop technologies that can significantly increase the recovery factors of heavy oil reservoirs in an environmentally acceptable manner. This talk will focus on the current approach adopted by industry and the technologies which will be required to address the challenges stated here.
Friday, December 4, 2009
Physics Building, Room 204
Note special time.
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