|
||||||||||||
ADCO Leads Forum On Maximizing Value Of Marginal Oil Fields |
||||||||||||
|
Abu Dhabi Company for Onshore Oil Operations (ADCO) is set to lead a technology forum titled, ’Innovative Development Solutions for Marginal Fields. This event will be attended by some of the world’s major oil players and will take place from 8th to 10th February in Abu Dhabi. The challenges of developing and maximizing output of marginal and remote fields in the UAE will be discussed. Held under the patronage of ADNOC and its Group of Companies, participants in the Forum will hear about the latest technologies from the world’s leading oil companies and oil industry service providers. The aim is to discuss and share experiences in innovative field development techniques to maximize the value and outcome from marginal fields. ADCO’s objective is to further advance its capabilities in field developments to optimally tap into the difficult oil to align with Abu Dhabi emirate’s aspiration to increase and sustain its current production. The Forum will bring together more than 140 participants including representatives from BP, Shell, TOTAL, ExxonMobil and Partex, in addition to local and regional oil companies and service providers. Commenting on this unique event, ADCO General Manager Mr. Abdul Munim Saif Al Kindy said, "The Supreme Petroleum Council directions and the aspiration of the mother company ADNOC are constantly aiming at employing the latest technological solutions in order to maximize yield and tap into additional oil resources that are more challenging to extract. We are preparing ADCO to take on the challenges of extracting this oil in the most cost effective manner to increase and sustain our production levels." "In the near future, there is no dispute that oil will remain a primary source of energy as the world is witnessing growing demand for energy to sustain economic growth especially in expanding markets such as China and India. As a key production operator in the region, ADCO is also working to optimize the development of existing fields in order to unlock all possible oil reserves. Innovation is critical in being able to tap into the more difficult oil in tight reservoirs as well as the oil to be captured from small and remote fields." he added. Mr. Al Kindy concluded, "The oil revenues have transformed Abu Dhabi and the UAE into one of the most advanced societies in the region. Our legacy is to use the earth’s resources as responsibly and carefully as possible. We aim to achieve sustainable development by putting extra effort into energy efficiency and minimizing environmental impact such as flaring." Marginal fields represent a significant untapped potential in the Emirate. Preliminary figures indicate that investments in these fields could add as much as 250,000 barrels per day (bpd) to the U.A.E.’s current production. The forum to be launched with introduction by ADCO’s General Manager will provide a platform for discussions that will cover the entire spectrum of challenged and difficult oil developments, from surface facilities design to subsurface technologies such as drilling and stimulations techniques, including discussions on full life cycle economics. The forum is designed to deliver practical and economical solutions through discussions and workshops. |
||||||||||||
