Industry Leaders brain storm for Enhancing Oil Recovery at SPENDSEC Meeting
A moment of history was recorded in the memoirs of New Delhi Section of Society of Petroleum Engineers (SPE), (SPENDSEC) on 05 Oct 2011, when three global leaders of Upstream Oil Industry leaders addressed the house and had interaction with the SPENDSEC members. The members represented from various organizations like ONGC. OVL, OIL, DGH, GEOENPRO, GEOPETROL, Jubilant Energy, Schlumberger, GAIL.
The leaders namely Mr. Ganesh C Thakur, 2012 SPE President (First Indian to become SPE President in the history of SPE) , Mr. Sudhir Vasudeva, Chair - SPE India Council and Mr. Ajit Hazarika, SPE Distinguished Member shared the dais at SPENDSEC special meeting.
Section Chair welcoming Dr. Ganesh C Thakur
Mr. B N Talukdar Chairperson SPENDSEC welcomed the guests and expressed his pleasure on the occasion. He expressed his happiness at this moment of pride for the SPENDSEC.
Mr. S S Sodhi , Secretary made a presentation on the Journey of SPENDSEC since its inception on 13 March 2005.
Section Chair welcoming Mr. Hazarika- Section Past Chair
Mr. Ajit Hazarika- Past Section Chair has recently been conferred with the International Distinguished Membership of SPE was felicitated and SPENDSEC felt it a moment of pride as it was during his tenure that SPENDSEC received SPE President’s Award for Section Excellence.
Mr. Hazarika expressed that the Industry needs Innovation & Technology for Enhancing Production and for new discoveries as the demand and price of Oil are on upward trend. He highlighted that the Innovation will derive the business in next decade. He pointed out that the industry needs to develop & attract the manpower right at the college level.
Mr. B N Talukdar felicitating Mr. Sudhir Vasudeva- SPE India Council Chair, SPE At-Large Director on becoming ONGC CMD
Mr. Sudhir Vasudeva, Chairperson- SPE India Council of was felicitated on taking over as CMD of ONGC and Chairman- ONGC Group of Companies. Mr. Sudhir Vasudeva appealed to the President Elect 2012 to make Indian Sub Continent as Independent region of SPE keeping in view the Present & Emerging Industry scenario of Indian Sub Continent. He informed the house that two new chapters at Kolkata & Duliajan and a Student Chapter at Dibrugarh University are presently being established.
He stressed that the Primary Parameters of Performance of Upstream oil company are its Production and accumulation of reserves, which ultimately lead to increase in market capitalization, as such the focus should be on the primary objective i.e Enhancing Production.
Mr. Vasudeva interacting with Section members and guests
Mr. Vasudeva while interacting with the SPE Members expressed that the Economic rate of return should govern the viability of Projects. He advised that the achievement of final common objective shall govern the working of all.
Mr. Gautam C Thakur President Elect 2012-SPE, Spoke at length about his Vision and Agenda as the 2012 SPE President, the position which he is to take over on 02 Nov 2011 at SPE Annual Technical Conference & Exhibition (ATCE) in Denver , Colorado .USA. Mr. Thakur is Global Advisor RM and Fellow in Chevron Energy based in USA since last 35 years. He is a world recognized leader in reservoir engineering & simulation, secondary recovery, reservoir & well productivity improvement, horizontal well technology and EOR. He has to his credit many technical publications and is renowned trainer for the Upstream Industry Professionals all over the world.
Mr. Thakur delivered talk on Key to Maximize Asset Value and Recovery Efficiency (Exceeding 70%). He highlighted the various challenges the industry faces and likely to face in the near future. He informed that the Enhanced Oil Recovery (EOR) is going to play very crucial role in the Upstream Industry in the next 25 years as he visualizes that the EOR is going to give as much output as we get from new discoveries. He suggested that the EOR becomes viable at $ 75 Per Barrel or more and an increase of 10% recovery would add up about 600 billion of barrels in production. He stressed on the need of use of science and technology for the business. His examples of improving recovery rate to 80% in field like Jengiz-Khazkastan, Agbani-Nigeria and kern oil field made the audience spell bound. He advised that the EOR should be planed right on day one at the time of discovery of field and problems needs to be converted in to opportunities.
Mr. P K Sharma Joint Secretary presented the vote of thanks.