Technical and economic issues facing the offshore market were the core topics discussed during OTC’s “Around the World Series: France” panel discussion where leaders of France’s oil services sector gathered on Tuesday, May 7. The session, which was divided into three panels, began with a welcome address by Michel Hourcard, president and CEO of Total E&P Americas. “I’m honored to be a part of the session at the 50th anniversary of OTC and proud to share our achievements in the industry,” he said.
“With the advent of new technologies, we have decided to pass all our data to the cloud,” said Olivier Peyret, president of Schlumberger France, speaking at the panel focused on exploration and discovery. “We see his innovation as a fundamental change and an opportunity for us to better serve our customers.”
He also pointed out that to attract the next generation of talent, R&D in areas of technological innovation is extremely important. “While digital transformation is an opportunity for some, it could be a risk for others,” Peyret said. “For example, if Schlumberger opens its artificial intelligence research center in Paris, it’s a fantastic opportunity to develop human resources. On the other hand, it could be a risk for others if the transition is disrupted and the workforce is not reskilled or trained to adapt to the advanced technologies.”
Sophie Zurqiyah, CEO of CGG, highlighted the need to adopt digital technologies in the field of exploration. “Due to the oil and gas downturn, our clients are constantly looking for efficiency, reduction in cycle time to develop offshore fields and improve the outcome of exploration,” she said.
“It’s not sufficient to collect data but it’s equally important to look at the physics behind the data using technologies such as artificial intelligence and machine learning,” said Daniel Averbuch, senior program man-ager at IFPEN. He added that his company is also using technologies to mitigate climate change such as using efficient wave technology contributing to the development of offshore wind energy.
The panelists of the second session, which focused on oil and gas development, discussed the importance of identifying local content while working across international borders. “It’s import-ant to acknowledge the fact that local content is important to reduce costs of development because it eliminates the need to carry assets and inventories. In this area, one of the key points is having the shortest supply chain possible,” said Nicolas de Coignac, senior vice president of North America at Vallourec.
“Several technological inventions that are impacting the oil and gas industry today were developed in France with strategic partnerships,” said Dominique Bouvier, chairman of Evolen, speaking at the last panel session, which focused on future developments of the offshore industry.
Evolen’s main goals includes development of inter-professional networks and to support the international expansion of its corporate members, notably small and medium-sized enterprises. “We are convinced that hydrocarbon services companies will play a major role in the ecological transition and almost 50% of our companies are investing in clean energies to reduce the carbon footprint and reduce emissions. The future of the industry will focus on reducing the carbon footprint and to develop gas, which will be a key element in fighting climate change,” Bouvier said.
More demand could be around the corner with offshore rig tenders as oil and gas companies step up drilling plans and final investment decisions.
U.S. energy firms this week cut the most oil rigs in about four months, with the rig count falling to the lowest since January 2018, as producers cut spending on new drilling and completions.
A Powder River Basin discovery by Chesapeake, LLOG files Gulf of Mexico plan and a triple-lateral horizontal completion in South Texas top this week’s drilling activity highlights from around the world.