The eighth biennial Asia Pacific Drilling Technology Conference, which opened on Nov.1 in HCM City , will include an exhibition of goods and services and discussions on a number of technical issues, including the possibility for local companies to take advantage of technology transfer.
The eighth biennial Asia Pacific Drilling Technology Conference, which opened on Nov.1 in HCM City, will include an exhibition of goods and services and discussions on a number of technical issues, including the possibility for local companies to take advantage of technology transfer.
Leading industry figures will speak during the three-day conference. The conference is sponsored by the International Association of Drilling Contractors and Society of Petroleum Engineers.
Pointing out the value of having advanced technology, Claus V Hemmingsen, chief executive officer of Maersk Drilling, said the increased levels of technology automation had enabled his company to reduce the risk of human error and to avoid risky situations during critical operations.
The conference offers an opportunity for oil companies, drilling contractors and other service providers to cooperate to ensure that a framework is in place for providing appropriate and sufficient technology development.
Do Van Khanh, chairman of PetroVietnam Exploration & Production Corporation, said the industry needed to focus on developing finite resources effectively.
The conference, whose theme focuses on sustainability and innovation, will discuss the direction of the oil and gas sector through the next decade.
Alain Labastie, SPE President, said the global demand for oil was expected to increase at a modest rate of about 1 percent per year in the near future.
He noted that oil fields were aging and would decline at an average rate of 5 percent per year.
Thus, a widening gap between demand and production would have to be compensated by new production.
In the next 10 years, demand would increase by 10 million barrels of oil per day, or an additional 45 million barrels of new production per day would be needed, half of today’s production.
To meet the challenge, capital, human brainpower and technology innovation would be needed, he said./.