lessons from petrobras development and applicability to ... lessons from... · petrobras is...
TRANSCRIPT
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EnerGCGenera ng Value for Our Clients
Lessons From Petrobras Development
And
Applicability To Other NOCs
By Khalid Ghozlani
Managing Director
November 22nd 2010
UNCTAD
14th African Oil, Gas and Minerals, Trade and Finance Conference and E
São Tomé & Príncipe
Copyright © 2010 E nerGConsul ng ®
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About EnerGC ®
ひ EnerGConsul g® is a energy grm providing management and technical services for the energy industry in Brazil, the Middle East and soon in West Africa.
ひ Our exper se comprises a wide range of the energy value chain including opera s, HSE&Q, marke g, v , business process design & implementa , and strategy.
ひ We are unique in that we leverages exis g resources within clients’ organisa s and facilitates the transfer of capabili es.
ひ We oder our clients focused yet 。exible services. By tapping into customers’ assets in
priority order, our with clients are mized, thus genera g greater value.
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Outline
ひ Brazil Is A Developing Countryひ Yet Brazil’s NOC Managed To Become A Leader In Deep-OdゲエラヴW
E&P At Home…
ひ And An Eゲデ;HノキゲエWS Player World Wide…ひ And Generates Considerable ひ Looking At Petrobras Reserves History…ひ We Recognise Tエe Role Of Ins tu onal Building…ひ Coupled Wキデエ Well Timed Policies…ひ And An Impressive Modus Operandiひ We Must Learn from It And Try to Replicate It
Copyrigエデ © 2010 EnerGConsul ng®
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Brazil Is A Developing Country
0 5000 10000 15000 20000 25000 30000 35000 40000 45000 50000
* Source IMF 2009 data
Brazil
Sample of West
African Countries
0 10 20 30 40 50 60 0 10 20 30 40 50 60 70 80 90 100
ひ Ra o of income for Richest 20% to Less well od 20%. ひ Source UNDP 2004.
ひ Popula on % living on less than USD2 per day.ひ Source UNESCO EFA Global Monitoring Report (1999-
2004).
GDP per Capita ytrevoP)DSU( Indicator*
~10100
~17000
~1500
Norway
Brazil
USABrazil
~4
~8.5
~21
Sample of West
African Countries
7.4
17.9
~21.2%
Sample of West
African Countries
34.1%
63%
Social Inequality Indicator*
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Yet Brazil’s NOC Managed To Become A Leader In DeepどOffshore E&P At Home…
Floating Production Units Vs. Water Depth
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And An Established Player World Wide…
Petrobras is operator of Cascade Chinook
gelds in US Gulf of MexicoDec 2006. US Mineral Management Services approves the
deployment of the gヴゲデ Storage and O・ラading (FPSO) vessel in the GOM for Petrobras.
The FPSO will be located in approximately 2,700m of water and
260km od the coast of Louisiana se g the record for the world's deepest FPSO to date.
Petrobras preformed the world’s biggest
share odWヴキミェ in history in 2010
0
10
20
30
40
50
60
70
80
1998 2006 2008 2010
USD
Billion ~ ~
Petrobras
Agriculture Bank
of China
Visa
Industrial Bank of
China
Do Co Mo
Petrobras raised USD~70 Billions
From Overseas Regulators From Global Financial Markets
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Private sector dynamism
ひ 2007 saw cre n of OGX, a privately held E&P giant. 79 wells planned with 5 drilling rigs already on site.
ひ 2009 saw incorpora of HRT O&G another privately held E&P company.
Petrobras nurtures an eco-system of suppliers and R&D ventures
ひ 57000 suppliers of which 4800 on supply chain web
ひ Developed a new technological partnership model with 11 universi es and research ins tes that work in
collabor ve networks
ひ 2010 Braskem inaugurates the world grst “Green-Plas c”manufacturing plant using sugarcane ethanol as feedstock.
And Generates Considerable
Source: OGX and HRT :ecruoSsetisbew Petrobras and Braskem websites
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Looking At Petrobras Reserves History
0
2
4
6
8
10
12
14
16
1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005
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Selected Events
* CNPE: Conselho Nacional de a Energé ANP: Agência Nacional do Petróleo
Billion BOE
ひVenture Odゲhore on
ental
Shelf
ひConstruc on grst regミery
1961
CNPE and ANP
Created*
1997
Oil Crisis
1973 1978
ひ 1st OdゲエラヴW Discovery
ひ R&D Centre established
1968
PSA-based
regime
expected for
pre-salt
Na onal
Ethanol
Program
1st Deep
Odゲhore Discovery
1st Ultra-
Deep
Odゲhore Discovery
Pre-salt
Discovery
No tech on the market
to produce @ 400m
Petrobras
created1953
Petrobras
and
Research
Centre 1955
Copyright © 2010 EnerGConsul ng®
Policy
External
Internal
On Shore
Od Shore < 300 m
300 m < Od Shore < 1500 m
1500 m < Od Shore
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We Recognise The Role Of Ins tu al
Capabili es Building…
0
2
4
6
8
10
12
14
16
1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005
~~
The Building Block of Petrobras Success Billion BOE
ひ 1st OdゲエラヴW Discovery
ひ R&D Centre established
1968
Petrobras
and
Research
Centre 1955
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Internal
Expected Results
• Better risk assessment• Fuel private sector
ひ Established with focused
and results
ひ Can start by working on small projects with
ゲヮWIキgI challengesひ Tap into reservoir of
Academia
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Coupled With Well Timed Policies…
0
2
4
6
8
10
12
14
16
1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005
~~
* CNPE: Conselho Nacional de a Energé ANP: Agência Nacional do Petróleo
Billion BOE
CNPE and ANP
Created*
1997
Copyright © 2010 EnerGConsul ng®
Policy
Create an oversight
structure type ANP
Expected Results
Applicability
NOC with cri cal
mass size
ひNOC will be more focused on its core business and mandate of
gミSキミェ and developing hydrocarbon resources
ひHealthy compe with foreign operators will oblige
NOC to raise its levels
2002 Indonesia BPMIGAS overseeing NOC Pertamina
2005 Bahrain NOGA overseeing NOC BAPCO
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And An Impressive Modus Operandi
0
2
4
6
8
10
12
14
16
1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005
~~
Selected Events Billion BOE
1st Ultra-
Deep
Odゲhore Discovery
Pre-salt
Discovery
Copyright © 2010 EnerGConsul ng®
Internal
Extended Well Tests
Adopt Early
Production Strategies
Expected Resultsひ Cash キミ。ラ┘ early in project life
cycle
ひ Reduced uncertainty regarding reservoir dynamic
characterisa on and behaviour
ひ Be er n of development plans
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Conclusion
In the 80s we saw the emergence of anew management
We must learn from it and try to replicate it!!!
Are we witnessing the emergence of a
new
management style à la
Brazil?
Copyright © 2010 EnerGConsul ng®
style from Japan with
Kaizen concepts of
improvement
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Copyright © 2010 EnerGConsul ng®
Thank You For Your on
E nerG CGenera ng Value for Our Clients
UNCTAD
14th African Oil, Gas and Minerals, Trade and Finance Conference and E
São Tomé & Príncipe