Hydrocarbons Exploration and Production in Portugal

Transcription

1 Hydrocarbons Exploration and Production in Portugal Luís Guerreiro September 28 th Pesquisa de Petróleo em Portugal, ENMC, Fundação Caloute Gulbenkian, Lisboa

2 Outline Energy and richness Oil price: question for a crystal ball Exploration efforts in Portugal Portugal attractiveness Oil myths 2

3 GDP worldwide Source: World Energy Outlook

4 How difficult is to estimate the oil price Source: World Energy Outlook 2014 Source: DOE/EIA, Annual Energy Outlook 2015, April

5 The silent revolution Global Oil Production

6 Over plus volumes 7

7 K BOE/D What is happening in Portugal Oil and gas consumption ANOS Petróleo Gás natural Source: Pordata 8

8 How much does Portugal pay for energy? 9

9 Partex Oil and Gas worldwide Operations in oil and gas upstream activities Participations in concessions and joint ventures worldwide Exploration, development, production and sales Organization by geographical areas Two management units: Partex Services Portugal (Lisbon) Partex Management Oil Services (Liechtenstein) 10

10 Partex Oil and Gas in Portugal 11

11 Oil and gas in Portugal, yes or no? 12

12 Geologic Risk : 5 magic factors 13

13 Pangea and the Continental Drift 14

14 Chance of success or dry wells probability COS = 18% 5 wells : 1 discovery 15

15 Portuguese basins Bacias Interiores (Onshore/Offshore pouco profundo) Bacia do Porto Bacia Lusitânica Bacia do Algarve Bacias Exteriores (Offshore mais profundo) Bacia Interior da Galiza Bacia de Peniche Bacia do Alentejo Bacia de Sagres Bacia do Golfo de Cadiz 16

16 Exploration efforts in Portugal Onshore Offshore 17

17 Exploration Efforts in Portugal

18 Is Portugal tax attractive for the oil Companies? 19

19 The threat of oil spills 21

20 The source of oil spills Source: Source: Wall Street Journal, An Oasis of Oil in Kurdistan Source: Analysis of U.S. Oil Spillage API PUBLICATION 356 AUGUST 2009 Source: Analysis of U.S. Oil Spillage Regulatory and Scientific Affairs Department PUBLICATION 356 AUGUST

21 Blowout probabilities European Waters Source: COMMISSION STAFF WORKING PAPER IMPACT ASSESSMENT, ANNEX I Accompanying the document PROPOSAL FOR A REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on safety of offshore oil and gas prospection, exploration and production activities Brussels, SEC(2011) 1292 final 24

22 Environmental practices Environmental Impact Assessments (EIA) must comply with the following international standards (non-exhaustive list): World Bank (WB) International Finance Corporation Guidelines (IFC) International Association of Oil & Gas producers Guidelines (OGP or E&P Forum) A Guide to Social Impact Assessment in the Oil and Gas Industry (IPIECA, 2004); International Petroleum Industry Environmental Conservation Association ( Health, Safety & Environment Case Guidelines for Mobile Offshore Drilling Units (IADC, 2010): International Association of Drilling Contractors ( Environmental Guidelines for Exploration Operations in Near-shore and Sensitive Areas (UKOOA, 1995); United Kingdom Offshore Operators Association ( Oil companies Internal HSE and EIA Standards and Procedures 25

23 Environmental practices 26

24 Portuguese Energy Policy Reduce energy imports aiming to reduce external dependence Ensure the continuous supply of energy at reduced prices Promote the development of local energy fonts, as well as support their production and management in a decentralized manner Reduce dependence on hydrocarbons and diversify its suppliers Diversify sources of energy and ensure security of supply Reduce the environmental impact caused by the production and use of energy Reduce energy bills Increase efficiency and energy conservation Promote the hydrocarbon potential to boost exploration and possible exploitation of oil and natural gas in the Portuguese territory Support the integration of the national energy market in the EU energy market Increase the quality of service 27

25 Thank you! 28