Shell highlights the importance of technology at 3rd Kuwait Oil & Gas Summit
Kuwait, 14 April 2014 At the 3rd Annual Kuwait Oil & Gas Summit, global energy company, Shell highlighted the important role of research & development (R&D) and technology in the Oil & Gas industry. In a panel session themed Efficiency, Technology Transfer and Performance, Andrew Vaughan, Shells Vice President of Abu Dhabi, Kuwait and Country Chairman of Abu Dhabi, spoke on how investment in R&D and technology were vital to increasing profitability in the energy industry.
According to the International Energy Agency, fossil fuels will continue to meet 60% of global energy demand by 2050 and in addition to oil, the Middle East and North Africa region alone has over 40% of the worlds proven natural gas reserves.
Speaking on what International Oil Companies (IOCs) have to offer in heavy oil and Jurassic Gas, Vaughan stated For me, the answer lies mainly in technology transfer. This requires two things: having the right technologies; and transferring them in the right way. So having good Research & Development is essential; thats why Shell invested more than US$1 billion again last year in this cornerstone of our business.
In Oman's Amal heavy oil field, solar technology is being used by Petroleum Development Oman (PDO) to generate steam for injection into the wells. The technology is developed by GlassPoint, a US-based international company in which Shell has invested. We are advocating introducing solar Enhanced Oil Recovery (EOR) to Kuwait as well Vaughan continuedadded.
On his part, Ahmad Atallah, Chairman Shell Companies in Kuwait, said Shell enjoys a historic relationship with Kuwait that has continued for the past 60 years, and today the company brings its global experience to help the Kuwait achieve its gas production potential through the Enhanced Technical Services Agreement with KOC.
Mr. Atallah said, The ETSA scope splits into a number of key Value Elements which all contribute to the North Kuwait Jurassic Gas development; the support ranges from Sub-Surface and reservoir studies, to Well design and drilling, to Phase II and III design of Surface Facilities, to improvement in Operations efficiency in the existing Phase I facility. Overlying all other value elements is the requirement for Shell to transfer its knowledge with similar complex, sour gas developments to KOC by way of training, secondment, coaching and cross-fertilisation programs..
Ultimately, Mr. Atallah concluded, the value Shell has brought will yield increased recovery in the order of hundreds of millions of oil equivalent barrels to the State of Kuwait
