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IO Conference Trondheim Norway 29 September 2009

Low Oil Price – No Time to be Smart? Pieter Kapteijn, Dir. Technology and Innovation Maersk Oil, Copenhagen. IO Conference Trondheim Norway 29 September 2009. Overview. A non-scientific model for IO readiness….. What can one learn from 8 yrs of IO? what hinders IO implementation what helps

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IO Conference Trondheim Norway 29 September 2009

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  1. Low Oil Price – No Time to be Smart?Pieter Kapteijn, Dir. Technology and InnovationMaersk Oil, Copenhagen IO Conference Trondheim Norway 29 September 2009

  2. Overview • A non-scientific model for IO readiness….. • What can one learn from 8 yrs of IO? • what hinders IO implementation • what helps • Maersk Oil: Integrated Asset Management programme (IAM) • Questions

  3. > 2015? IO Readiness and Oilprice…?A non-scientific model  high low making money improving margins reducing cost survival $/bbl 30 40 50 60 70 80 90 20 10 10% 15% < 5% % ROI

  4. What can one learn from 8 years of IO? • The concept actually works! • Technology is no longer the issue • Many successful Production and Drilling Operational implementations • Time to pay-out relatively short: 1-2 yrs • Value of collaboration environments now proven • Rate of adoption is increasing • But still low as a %-age of potential value • Change management issues better understood

  5. What hinders adoption of IO? • IO message remains complex and difficult to “sell” • in an industry that likes to manage “unbundled” activities • subsurface uncertainties “use up” all risk tolerance • Management understanding of IO concepts • model based control and use of real-time dynamic data: robust learning versus planning/designing for success • Is IO an operating model or a business model? • Leaders from a pre-digital age • we will need the big crew change…. • gaming is the new learning

  6. What helps adoption of IO? • Lower margins and environmental/CO2 constraints will require a more holistic, systems approach • More complex optimisations and trade-offs • More fields move into EOR phase • EOR is very surveillance/optimisation intensive (WAG) • upstream will become a CO2 sink (CCS, EOR) • NOCs will demand lifecycle value maximisation • Right level of smartness to be “designed in” • IO and technology become competitive differentiators • And … the bulk of the value is still to be realised in recovery improvement

  7. Connected value chains require IO CO2 will become a source of value to Oil Companies

  8. Maersk Oil Technology Programme • Integrated Asset Management one of 5 Technology Themes • abundance of positive IO project results to make the case • Managed at Maersk Oil executive level • Technology and Innovation Board: 3-5 year rolling plan • coordinated with IT/IM strategy • Phased, staged implementation approach • to gain confidence and acceptance of approach • Using only proven technology • targetting production and staff productivity improvement • Initial projects: well monitoring and surveillance

  9. Technology Planning/Roadmapping Rolling 3-5 year plan to achieve excellence in target capabilities

  10. BASICS MONITORING (Passive) SURVEILLANCE (Active) OPTIMISE (Predictive/Proactive) Integrated Asset ManagementStaircase 10 - top quartile performance - • Use information to predict behaviour • Anticipate problems and opportunities • No manual data entry • Automatically generate options for optimisation • Prioritised and focused interventions Int. System Modelling • Reliable Data shared across required disciplines • Trend data to understand well and reservoir behavior patterns • Semi automated well test validation • Integrate real time data and models • Active management of performance and condition exceptions MOUK Production Surveillance & optimisation all assets • Common data shared across required disciplines • Visualise well and reservoir status • Know what key decisions are required on what you monitor • Data cleansing algorithms run automatically Rotating Equipment Monitoring MOUK Production Surveillance GPIII DUC Monitoring & Diagnostics • Established asset data hierarchy • Data availability and ownership (systems of record) • Infrastructure fit for purpose • Roles & responsibilities defined & documented • Capability of engineers to use required tools Key: DOCC Esbjerg - Babelfish Qatar - PASC Aberdeen Proposed Projects Future Projects Aligned Initiatives

  11. Conclusions In Production Operations and Drilling IO projects it is nowpossible to be a “fast follower” but tailoring existing solutions to the asset remains a challenge Maersk Oil is committed to become good at IO we consider it a “must have” capability to be a successful player in an EOR and CO2 dominated future We can still improve our sharing of IO experiences and results across the Industry particularly at management/leadership level The IO journey continues and our younger staff love it!

  12. Thank you for your attention ? Questions?

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