Exclusively hosted by Aramco, the 16th edition of International Petroleum Technology Conference (IPTC), opened at the  at the Dhahran Expo today (Feb 12) with a focus on sustainable energy supply.

 

The event, anticipating the presence of over 20,000 industry leaders, professionals, influencers and key players within the oil and gas domain, is being held under the patronage of Prince Saud Bin Nayef Bin Abdulaziz Al-Saud, Governor of the Eastern Province, till Wednesday (Feb 14).

 

It will also contribute to advancing the petroleum industry in Saudi Arabia as a sustainable energy supply and bring decarbonisation learnings to other key countries across the Mena region.

 

A number of key speakers, including ministers and industry leaders will shed light on the evolving energy landscape.

 

The ministerial session will see a one-on-one discussion with Prince Abdulaziz bin Salman Al Saud, Saudi Arabia’s Energy Minister.

 

This will be followed by executive sessions with Aramco leaders Amin Nasser, President & CEO, and Nasir Al-Naimi, Upstream President, in addition to top officials from TotalEnergies, Woodside Energy, Exxon Mobil, SLB, PTTEP, Adnoc, Baker Hughes, and others.

 

IPTC is sponsored by four industry organisations and societies, the American Association of Petroleum Geologists (AAPG); the European Association of Geoscientists and Engineers (EAGE); the Society of Exploration Geophysicists (SEG); and the Society of Petroleum Engineers (SPE).

 

WHAT’S NEW AT IPTC 2024?

 

Every year at IPTC recognises outstanding industry projects. The IPTC Excellence in Project Integration Award is given to a project that adds value to the industry.

 

In the past, only projects above $500 million were considered. However, this year there is an extra award category for projects between $200-500 million.

 

The IPTC 2024 finalists in over $500-million category include:

 

• Coral South FLNG by Eni: This integrated project comprises the installation of a floating liquefied natural gas facility (Coral-Sul FLNG) to gather the gas production from six gas wells at 2,000 m 80 km offshore northern Mozambique in the Rovuma Basin within Area 4.

 

The FLNG, which has a nameplate capacity of 3.4 million tonnes per annum (MTPA) and a design life of 25 years, is the world’s first new-built ultra-deep water FLNG, Africa’s first full functional open sea FLNG and the first in Mozambique.

 

• Lisa Phases 1 and 2 by ExxonMobil: These exploration wells offshore Guyana in the Stabroek Block 5 started production in 2019 and 2022, respectively, from the Liza Destiny floating, production, storage and offloading (FPSO) vessel, one of the fastest projects from discovery to first oil of its type in the industry.

 

The Liza development deployed new technologies and novel execution approaches to meet these challenges.

 

• Shah Deniz 2 by bp: This is one of the largest gas developments in the world. It integrates a 3,500-km southern gas corridor pipeline, delivering natural gas from the Caspian through seven countries, directly to European markets for the first time.

 

The $28-billion, bp-operated, Shah Deniz 2 project supplies natural gas and condensate from two bridge-linked platforms offshore in the Caspian Sea.

 

The gas is produced through 26 subsea wells via 500 km of subsea pipelines, and 85 km of onshore pipelines, to the Sangachal terminal in Azerbaijan.

 

At plateau, the Shah Deniz 2 project produces 16 billion cubic meters of gas per year.

 

And the finalists in the $200–500 million projects are:

 

• CCUS Evolution Journey by Adnoc: The national oil company of Abu-Dhabi aims to add hundreds of millions of stock tank barrels (mmstb) of oil using CO2-enhanced oil recovery, with efficient CO2 injection.

 

This project aligns with a sustainable future vision, making a significant contribution to achieving net-zero goals by 2045 as targeting 10 mtpa of CO2 storage by 2030.

 

• ABH Tight Oil Field Development by Cairn Oil & Gas, Vedanta: The Aishwariya Barmer Hill (ABH) tight reservoir field, situated within the Development Area 1 in the RJ-ON-90/1 Block, in the northeastern part of the Barmer Basin in Rajasthan, India, defied initial skepticism to emerge as a triumph of ingenuity and persistence.

 

Discovered in 2013, the challenging and initially deemed uneconomical tight oil formation was successfully tapped through innovative practices and technologies.

 

• Optimum Shah Gas Expansion by Adnoc Sour Gas: The project in the UAE’s Onshore Shah Gas Field stands out as a remarkable technical feat, processing 1.45 BSCFD of ultra sour gas and earning the distinction of being the largest plant of its kind globally.

 

The uniqueness of OSGE project is its EPC awarded at the peak of Covid 19 pandemic in June 2021. And despite the adversities, the project team embraced the challenge, employing unconventional approaches in execution and completing the project two months ahead of schedule.

 

YOUTH-FOCUSED ACTIVITIES

 

Despite being an international event of repute, IPTC hasn’t forgotten the youth, and has segments that help inculcate qualities that build tomorrow’s industry leaders.

 

The Emerging Leaders Forum offers young professionals (YPs) the opportunity to get together for a day of inspiration, education, and collaboration.

 

It gives emerging leaders the chance to engage with their peers and industry and management professionals from around the world to debate critical issues, develop vital skills needed for the future of work, and address key challenges.

 

Another assembly of youth is Education Week. This exclusive university student offers a unique experience to assist selected students with their transition from student to young professional.

 

This year, 100 top undergraduate science, geoscience, and engineering students from diverse backgrounds have been chosen from 39 countries to attend the Education Week.

 

Under the theme, ‘Shaping the Future of Energy’, participating students will for five days experience activities that will prepare them for life beyond university.

 

These include learning from experienced and young professionals, working on joint projects, networking with industry peers and executives, attending technical and panel sessions and participating in dynamic field trips.

 

Nearly half of the workforce in the oil and gas industry will retire in the next 5 to 7 years. This great challenge makes it an imperative for leadership development.

 

To address this challenge, the ‘Building Bridges: It Starts with You’ workshop will help participants identify and amplify their unique leadership styles while enhancing their mentorship capabilities.

 

It will immerse participants in a comprehensive exploration of critical themes, particularly the industry’s impending transformation, known as The Great Crew Change.

 

In conclusion, IPTC has a well-rounded approach to the industry’s challenges whether it’s technology, knowhow, or the development of human resources.

 

This year’s event comes on the heels of the key global conference on climate change, COP28, where a declaration to transition away from fossil fuel was made – a first for a UN climate conference