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World Petroleum Council Introduction to the WPC organisation , mission and values Challenges and Opportunities in the

World Petroleum Council Introduction to the WPC organisation , mission and values Challenges and Opportunities in the Petroleum Industry Responsibly Energising a Growing World . Renato T Bertani, President, WPC - June 2012. Member Countries.

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World Petroleum Council Introduction to the WPC organisation , mission and values Challenges and Opportunities in the

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  1. World Petroleum Council • Introduction to the WPC organisation, mission and values • Challenges and Opportunities in the Petroleum Industry • Responsibly Energising a Growing World Renato T Bertani, President, WPC - June 2012

  2. Member Countries AlgeriaAngolaArgentinaAustraliaAustriaAzerbaijanBahrainBelgiumBrazilCanadaChinaColombiaCroatiaCubaCzechDenmarkEgyptFinlandFranceGabon Germany Hungary India IndonesiaIranIsraelJapanKazakhstan KenyaKoreaKuwaitLibyaMacedonia MexicoMoroccoMozambiqueNetherlandsNigeria Norway OmanPakistanPanama Peru Poland PortugalQatarRomaniaRussiaSaudi ArabiaSerbiaSierra LeoneSlovakiaSloveniaSouth AfricaSpainSurinameSwedenThailand Trinidad & TobagoTurkeyUKUruguayUSAVenezuela Vietnam WPC Member Countries MISSION The mission of the World Petroleum Council is to promote the sustainable development, production and consumption of oil, gas and other energy resources for the benefit of all

  3. Organisation Chart • The World Petroleum Council is a non political entity accredited as a Non Governmental Organization by the United Nations. The WPC currently has 65 member countries, representing over 95% of the world’s oil and gas production and consumption. Each member country has established a National Committee represented in the Council, the supreme governing body of the WPC. The Secretariat of the WPC is based in London, UK WPC Council 65 National Committees Executive Committee • Secretariat • Director General • Communication Director Congress Programme Committee Youth Committee

  4. Our Values • VALUES • The World Petroleum Council firmly believes that the activities of the petroleum industry must be predicated in certain fundamental values: • Respect for individuals and communities • Reliance on the highest technological solutions • Highest business ethical and governance standards • Creation of value to all stakeholders.

  5. Strategic Activities

  6. The value we add • THE VALUE WE ADD TO OUR MEMBERS • In addition to promoting the petroleum sector as whole, the WPC offers many opportunities specifically designed to benefit our members. These include: • Representation in the Council and various committees • Opportunity to host the World Petroleum Congress and regional/thematic conferences • Nomination for highly visible speaking roles • Showcasing of member country industry • Enhanced outreach to all stakeholders • Promoting best practices on transparency, ethics and social responsibility

  7. Addressing all aspects of the petroleum industry • Oil price • Peak oil • IOC’s / NOC’s • Energy security • Access to acreage • Social licence to operate • Climate change • Water • Youth and gender • Geopolitics

  8. The Challenge: Sustainable supply of the ever growing energy demand

  9. Key Drivers to Energy Consumption Population Growth 1960 3 bn people High Med Low 2050 9 bn people?

  10. Current Energy Scenario Total Energy Consumption Energy Inclusion

  11. Current Energy Scenario Total Energy Consumption Total Consumption: 241 MMboe/day Source: BP Statistical Review, 2011

  12. World Energy Demand Growth • Energy consumption will grow by approximately 40% until 2030 • The largest growth will be in developing countries 721 356 Source: EIA Source: EIA 257 504 Source: EIA , International Energy Outlook Issue: October 2011

  13. World Energy Demand Growth • Fossil fuels (oil, natural gas and coal) will continue to be the main sources of energy • Supply of renewable sources of energy will grow significantly, but still remain a complementary source of energy Liquids: Conventional (oil, condensate, natural gas plant liquids, refinery gains) Non-Conventional (oil sands, extra heavy oil, biofuels, GTL, CTL) Source: EIA Outlook Issue: October 2011

  14. World Oil Reserves • World resource base is expanding in view of new technologies and price deck Total Reserves: 1.471 trillion bo R/P = 46 yrs (*) Including extra heavy and oil sands Source: EIA , International Energy Outlook Issue: October 2011

  15. World Liquid Fuel Consumption • Liquid fuels will continue as the largest component of the energy matrix • Growth of oil production, in both Opec and non Opec countries will meet most of the demand • Non-conventional liquid fuels also growing significantly Source: EIA Outlook Issue: October 2011 108 87.8 Liquids: Conventional (oil, condensate, natural gas plant liquids, refinery gains) Non-Conventional (oil sands, extra heavy oil, biofuels, GTL, CTL)

  16. Key Drivers and Constraints Liquid Production Changes Liquids: Conventional (oil, condensate, natural gas plant liquids, refinery gains) Non-Conventional (oil sands, extra heavy oil, biofuels, GTL, CTL) Source: EIA , International Energy Outlook Issue: October 2011 • New production from unconventional, heavy crude, ultra deep waters and reservoirs • Increasingly more challenging and more expensive • Increasingly more stringent HSE requirements

  17. Major New Oil and Gas Developments Ultra deep Gulf of Mexico Orinoco Extra heavy oil Pre Salt deep offshore Brazil Lower Aptian reconstitution (122 m.y.)

  18. Major New Oil and Gas Developments Santos Basin largest oil discoveries (mmbo) Source: IHS, ANP, Woodmac

  19. World Reserves: 6,608 tcf • R/P = 58.6 yrs • USA gas shale resources: 6,600 tcf World Gas Reserves • World resource base is expanding in view of new technologies and price deck

  20. World Gas Consumption Source: EIA , International Energy Outlook Issue: October 2011

  21. World Natural Gas Supply • Natural gas production grow will be mainly from the Middle East, Asia and Eurasia, with increasing contribution of non conventional sources Source: EIA , International Energy Outlook Issue: October 2011 • New production from unconventional, stranded gas, remote areas • Tendency to gas commoditization (LNG, GTL) • Regional pipelines constrained by costs, geopolitical uncertainty

  22. The promise of the unconventional natural gas resources • Resource Base Shales • Source Rock is the same as the Reservoir • No secondary migration • Gas generation window • Fracturing and microfacturing

  23. Investment decisions: challenges and pitfalls Global LNG Trade Source: EIA , International Energy Outlook Issue: October 2011 487,627 Wells 124,168 Wells

  24. The Opportunity: Long term returns to all stakeholders

  25. MINDS Rapidly aging HR base, MONEY $20 trillion until 2030 IEA Energy Outlook MILLS Increasing demand for steel, rigs, supplies Ingredients for Success • The success of our industry as whole more than ever will require: • Investment in people and technology • Superior management and deployment of capital • Highest standards of Health, Safety and Environment • Social Responsibility and Ethics as part of the Business Model

  26. UN Global Compact Principles The WPC supports the 10 principles for business sustainability of the United Nations Global Compact. There are 183 oil and gas participants, including most majors, large independents, national companies and services companies. • The WPC supports the 10 principles for business sustainability of the United Nations Global Compact. Human Rights • Principle 1: Businesses should support and respect the protection of internationally proclaimed human rights; and • Principle 2: make sure that they are not complicit in human rights abuses.   Labour • Principle 3: Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining; • Principle 4: the elimination of all forms of forced and compulsory labour; • Principle 5: the effective abolition of child labour; and • Principle 6: the elimination of discrimination in respect of employment and occupation.  Environment • Principle 7: Businesses should support a precautionary approach to environmental challenges; • Principle 8: undertake initiatives to promote greater environmental responsibility; and • Principle 9: encourage the development and diffusion of environmentally friendly technologies.    Anti-Corruption • Principle 10: Businesses should work against corruption in all its forms, including extortion and bribery. 

  27. Responsibly Energising a Growing World We hope to see you at the 21st WPC in Moscow, June 15th – 19th, 2014

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