|SPE President Mr. Alain Labastie's visit to SPE New Delhi Chapter|
02 February, 2011
On January 26, 2011, SPE New Delhi Chapter had the privilege of organizing a special Executive Meeting during the visit of Mr. Alain Labastie, the 2011 SPE President. He was accompanied by Mr. Waleed Refaay, the Managing Director of SPE Middle East Region. Mr. Labastie and Mr. Waleed are on their scheduled visit to India visiting different SPE Chapters.
The Meeting was chaired by Mr. S. Roychaudhury, the Section Chair, and attended by Section Members, Section Directors, Industry Leaders and representatives from the Regulatory Body. The Meeting kicked off with the welcome opening and introduction to Mr. Labastie by Mr. Satendra Mohan, the Secretary, followed by welcome bouquet offered to Mr. Labastie by Mr. Roychaudhury, the Section Chair. Mr. Roychaudhury gave a welcome address.
Mr. Jayant Malhotra, the Program Chair, walked the distinguished audience through the Chapter history and its achievements after taking over of the Section Chair by Mr. Roychaudhury, the initial Plan for 2010-11 and what has been done so far to achieve those ambitious targets put in place for this year. He also presented the variety in membership within the New Delhi Section and how the Section is uniquely placed to have encouraging discussions and interactions with the regulatory and policy making bodies to raise & support addressing key oil & gas industry issues. This aspect of interaction was well appreciated by the SPE President.
This followed a presentation by Mr. Labastie. In the first part of his presentation, he presented an informative insight into the global oil & gas scenarios and how the world still have about 40 yrs of conventional oil reserves, about 40 years of Reserves yet to found and if E&P companies are able to increase the average recovery factor from 35% to 45%, that would add another nearly 40 years of production at the current rates. This was perceived as an eye opener to all attendees. He presented a long term oil supply cost graph showing the different oil prices required to meet the future demands, eluding to the fact that the future oil & gas demand will push for new venues like Deep Water, Ultra Deep Water, EOR, Heavy Oil, Oil Shales etc. to be continuous explored and thus pushing the Oil Price high. To meet the future demand of 95Mbbl/day, the industry will have to add nearly half of world's current production (85Mbbl/day) considering the decline rate in the most of the mature fields around the world. According to his view, most of the easy oil is gone and thus meeting future demand will be Technology, Capital and Staff Intensive. The industry is becoming environment and climate sensitive and future E&P activities along with energy security will have to go with climate security. Those will go hand in hand.
Mr. Labastie;s second part of the presentation was related to SPE organization, its mission, drivers, its resources available to its members and industry, its unique position in the world to offer a Neutral, non-competitive and non-commercial platform to exchange information, knowledge & share experiences to help support its members in particular and industry in general. He presented various new initiatives e.g. scholarships by region, developing new technical themes like Safety, Unconventional resources, CO2 and Sustainability. He shared his vision of developing geographic issues based conferences & forums including Safety forums to cover issues like Well Control, DW well design, Containment of spills etc.. and developing high level standards e.g. Reserves, Worst Cast discharge etc. in the industry. He concluded his presentation with emphasizes on volunteerism and the need to recognize and reward members who volunteer for SPE activities.
Executive Committee Members with Mr. Alain Labastie
Mr. Labastie's presentation was well received by the audience. There were a round of Q&A and informal discussed which found their way up to the dining table.The meeting was concluded with a vote of thanks by Mr. Batra, one of the Director for the Chapter, followed by Dinner. The Meeting is perceived to have given Chapter and its initiatives an appreciation from the President and him acknowledging the need of better utilization of the DLP catering to Chapter?s need.