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“The Global Quest for Energy Security” Oil & Gas Security Focus

This article discusses the technical challenges, environmental challenges, price volatility challenges, and talent attraction challenges faced by the oil and gas industry in its global quest for energy security. It highlights the increase in global oil and gas reserves, the advancements in shale technology, the importance of de-carbonization and the adoption of renewable energy sources, the need for stable capital investments, and the decline in petroleum engineering students' enrollment.

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“The Global Quest for Energy Security” Oil & Gas Security Focus

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  1. “The Global Quest for Energy Security”Oil & Gas Security Focus Sami Alnuaim, SPE President USAEE Annual Spring Conference Washington DC April 24, 2019

  2. Technical Challenge – Global Supply Technology Led to Higher O&G Reserves Despite of High Historical Production Global Oil Reserves (46%^ in 20 Years) Global Gas Reserves (51%^ in 20 Years) 2017 2017 2007 2007 1997 1997 • 2018, the best year for global O&G exploration since 2015. Discovered resources have already surpassed 8.8 boe • In 2019, so far 3.2 boehave been discovered in Q1 Sources: 2018 BP Statistical Review & Rystad.com: Only Conventional O&G

  3. Technical Challenge – Shale Technology 2008 • Technologies: • Hydraulic fracturing • Multilateral drilling • Smart well completion • Industrial Revelation (IR4.0) • New business model: • Supply chain integration US Production= 5,180 MB/D in April 2009 US Production= 12,200 MB/D in April 2019 2018 www.eia.gov

  4. Environmental Challenge – De-Carbonization Defining and Leading the Global Energy Transition: • Increasing Natural Gas in Power Generation • Increasing Renewables in Power Generation • Reduction in Gas Flaring • Increasing Crude to Chemicals • Increasing Carbon Capture, Storage & Use • Decreasing Carbon Intensity • Increasing Energy Efficiency • Increasing Carbon Conversion • Oil & Gas Climate Initiative (OGCI) • De-carbonization in all O&G Supply Chain • Circular Economy, Recycling, Reuse, ….etc. www.iea.org

  5. Price Volatility Challenge Oil & Gas Industry Capital Investment Source: World Energy Investment 2018

  6. US Petroleum Eng. Students’ Enrollment Talent Attraction Challenge 70% decline Source: US PE Department Heads Colloquium

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