statoil host presentation 2017 iogp geomatics industry day ... · • pão, carcará (brazil) •...
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Statoil host presentation2017 IOGP Geomatics Industry Day
Jan Helgesen, VP Geophysical OperationsIllustration: Johan Sverdrup
Reinforcing safety measures
2.12.2
1.9
1.4
1.11
0.8
0.6 0.6
0.8
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Serious incident frequencySerious incidents per million work-hours
2
Opportunities in the energy transition
3
Source: Platts
Markets remain cyclicalBrent
(USD/barrel)
0
20
40
60
80
100
120
140
160
200
6
200
9
201
2
201
5
20
20
20
30
75 80
Planning
assumptions1
1 Long-term economic planning assumptions. 2016 USD, real prices.
2 Scale calibrated for million b/d equivalent.
Source: Statoil’s Energy PerspectivesSource: Statoil’s Energy Perspectives
Incremental global production
2015 vs. 2040 (thousand TWh)2
Growth in new renewablesGlobal oil production
2015 vs. 2040 (million b/d)
Major investments required
0
20
40
60
80
100
120
140
2015 2040
0
10
20
30
40
2015 2040
New production neededNew production needed
0
20
40
60
80
100
120
2013 Pre 2016 Drilling Subsea Floater Market Currentforecast
Improvements break-even price
Johan Castberg – continuously optimising concept
100
Phase 2
45
> 50%
Improvements 2016 2013 above
80USD/bbl
Current below
35USD/bbl
CMU 2016 below
45USD/bbl
45-50
NO
K b
illio
n
1 Numbers in NOK billion 100% real term 2016.
Field resources
450-650 mn boe
Capex improvements1
5
Strong drilling efficiency improvements
69% 42% 35%
Cost per well1Days per wellMetres per day
2015: 117 wells delivered | USD 3.5 bn
2016: 119 wells delivered | USD 2.6 bn
Delivering more wells and reducing cost
Driving efficiency cultureEfficient production wells at lower cost
1 Adjusted for currency effects.
2 IHS Rushmore. www.RushmoreReviews.com. (All rights reserved, 13.01.2017). Global well delivery benchmarking data. Offshore development wells, dry hole well cost per meter drilled.
3 All wells in following areas: Brazil, Canada, Denmark, Netherlands, Norway, UK and US GoM Deep water.
06 08 2016
15
10
14
5
0
04022000 1210
Industry3 Statoil
Cost per metre2
kUSD
7
• Safety first
• Simplification &
standardisation
• The “perfect well”
approach
2017 Drilling programme
Capturing value from cyclicality
Portfolio high grading
Seizing exploration opportunities
2012-2014:
Divestments²
USD 13 bn
2015-2016:
Key acquisitions
~30 wells | USD 1.5 bn
2017 activity level
Awarding contracts in low-price environment
USD 30 bn
awarded 2015-2016¹
1 Based on expected spend (100%) over contract lifetime for both new and renegotiated contracts.
2 Gross divestments.
6
25,000 km²
acreage added in 2016
• Pão, Carcará (Brazil)
• Eagle Ford (US)
• Wisting, Lundin stake (NCS)
• Utgard (UK)
Developing a distinct and competitive portfolio
Norwegian
continental shelf
Build on unique position
• Highly cost competitive
• Attractive project pipeline
• Exploration potential
International
oil & gas
Deepen core areas
Midstream
and marketing
Access premium markets
• Flow assurance
• Asset backed trading
• Capital light
• Enhance Brazil portfolio
• Flexible US position
• New growth options
New energy
solutions
Industrial approach
• Offshore wind focus
• Low-carbon solutions
• Ventures, R&D
US onshore
Kårstø Offshore wind
High value,
low carbon
Johan Sverdrup
7