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IOGP: making the case for Oil and Gas

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Gordon Ballard, Executive Director of the International Association of Oil & Gas Producers, alongside Jérôme Pécresse, President & CEO of GE Renewable Energy, hosted a discussion at a recent BHGE Annual Meeting in Italy to open the debate on oil & gas and innovations.

As sectors around the globe, including oil and gas,  work to make efficiencies in process, reduce cost and build on production levels, the growing energy sector is included in this efficiency overhaul.

The world needs energy, the current energy mix includes coal, gas, nuclear and renewables, and the IOGP has made a recent argument in favour of oil & gas and shares the view that the need for such an energy source will be here until at least 2040.

Global Oil and Gas Production 1991 to 2016

Global Crude Oil Production 1991 to 2016 Source: Enerdata 2018

Taken from IOGP’s newsroom February 2018 article “Making the case for oil & gas”, the discussion before a plenary audience on 29 January addressed ‘the broadly shared misconception that there is no role for oil and gas in a lower carbon world.’ 

Crude Oil Demand

The aim of their dialogue was to help the audience understand ‘how a balanced approach is essential to achieving shared COP21 goals on greenhouse gas emissions’ which sets out the aim, among others, to reduce greenhouse gas emissions by 40% when compared with 1990. Their discussion also focused on exploring the ways how ‘fossil fuels and renewable sources together will shape the future of energy.’

The discussion continued with Gordon Ballard describing that ‘renewables alone can’t meet the world’s growing energy needs’. Citing the International Energy Agency’s most optimistic low-carbon forecast for 2040, he pointed out that renewables – including hydro and biofuels – will only be able to meet about 30% of energy demand. ‘Oil and gas will form about half of the energy mix then. Just as they do now’.

The Future of Energy

Gordon concluded by stressing the need for an open debate on the future of energy, with all points of view open for consideration.

World Energy Oil and Gas Production 2016

Global Energy Production Levels (Mtoe = one million tonne of oil equivalent) Source: Enerdata 2018

The aforementioned International Energy Agency press release “A world in transformation: World Energy Outlook 2017” reports that “over the next 25 years, the world’s growing energy needs are met first by renewables and natural gas, as fast-declining costs turn solar power into the cheapest source of new electricity generation. Global energy demand is 30% higher by 2040 – but still half as much as it would have been without efficiency improvements. … rising oil demand slows down but is not reversed before 2040 even as electric-car sales rise steeply”.

Daily Demand for Crude Oil 2006-2008

Daily Global Demand for Crude Oil from 2006 to 2018 in million barrels (Data source: Statista)

“Global oil demand continues to grow to 2040, although at a steadily decreasing pace – while fuel efficiency and rising electrification bring a peak in oil used for passenger cars, even with a doubling of the car fleet to two billion. But other sectors – namely petrochemicals, trucks, aviation, and shipping – drive up oil demand to 105 million barrels a day by 2040.”

Oil & Gas Workforce

As crude oil shows clear growth in demand, the oil & gas sector and it’s companies continue to work on driving the industry forward and the Oil & Gas UK Workforce Report 2017 gives an indication that workforce numbers are strong and the volume of core personnel, the number of workers at sea for 100 nights or more, is holding steady although less than the 2014 boom.  

Latest news stories report contract wins, business growth and the introduction of new vessels from major companies which is a positive indication of the need for suitably trained and competent subsea personnel; including qualified and competent commercial divers and ROV pilots. 

The Underwater Centre works closely with industry to ensure training remains up to date and relevant to changing industry demands as possible. We focus on ensuring each student completes their training as a safe diver while also giving them some of the fundamental skills that will help them to be safe and effective throughout their diving career.

We offer a range of commercial diving and ROV courses including Premium Industry Package, HSE  Surface Supplied Top Up, HSE Closed Bell and further skills training in IMCA Diver Medic Technician, IMCA Assistant Life Support Technician through to IMCA Trainee Bell Diving Supervisor and ROV Pilot Technician courses. 

Subsea Training

The post IOGP: making the case for Oil and Gas appeared first on The Underwater Centre Blog.


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