130 likes | 386 Views
New Solutions for the Energy Balance in Kuwait Sami Al- Rushaid Chairman & Managing Director Kuwait Oil Company Kuwait Oil & Gas Summit– February 2012 Kuwait . Kuwait is expected to see further increases in energy demand over the next twenty years. MTOE. Annual Growth Rate
E N D
New Solutions for the Energy Balance in KuwaitSami Al-RushaidChairman & Managing DirectorKuwait Oil CompanyKuwait Oil & Gas Summit– February 2012Kuwait
Kuwait is expected to see further increases in energy demand over the next twenty years MTOE Annual Growth Rate 2005 - 2010 = 1.5 % 2010 - 2030 = 2.8 % Sources: BP Statistical Review – IEA World Energy Outlook 2011 • Strong increase in energy demand expected through 2030 • Power demand is highly seasonal, peaking during summer • Several sources of fuel will be needed: • Associated gas from additional oil production • Non associated gas from new reservoirs • Low sulphur fuel oil from heavy oil and new refinery • Additional seasonal LNG imports
What is KOC Contribution to Balance Kuwait’s Energy Demand? Oil & Gas Production Strategic Objectives for KOC 2
Maximize the Strategic Value from Oil MBOPD KOC Oil Production Profile Develop EOR capabilities before 2020 to ensure production can be ramped up Incorporate new production from exploration Develop Heavy Oil production in North Kuwait Focus on optimizing recovery through primary, secondary techniques 3
Oil from New Reservoirs, Production Optimization and HeavyOil Development are Key for Growth KOC Production Profile MBOPD Heavy Oil Production Optimization Oil from new reservoirs 4
Realize the Potential of Gas • The discovery of nearly 35 trillion SCF of free gas has triggered ambitious targets for its development • Associated gas production will also increase with oil production targets • KOC is set to produce 4.0 BSCFD of gas by 2030, of which 2.5 BSCFD will come from non-associated gas fields 5
Technology applications will be critical to optimize oil & gas production from existing and new reservoirs • High resolution seismic • Horizontal / Multilateral wells • Electric Submersible Pumps and Variable Speed Drivers • Multi-Port Selector Valves • Waterflood projects • Integrated Digital Fields Multilateral wells Multi port selector valve ESPs and VSDs Wara Waterflood Pilot 6
Drilling multilateral wells will significantly contribute to production optimization MG-0238 • First two multilateral wells drilled in S&EK, providing larger access to reservoir from one hole • Both wells have a total potential of 8000 bopd • Six horizontal well pilots were successfully implemented in NK for heavy oil development • Under evaluation their use to produce heavy oil, together with steam injection BG-0651 7
Kuwait Integrated Digital Fields • Kuwait Integrated Digital Field initiative will allow KOC to optimize its production by • Improving the flow of data and information • Allowing more accurate and speedy decision making • This initiative will allow to increase our production by 7% 8
Developing Heavy Oil Production Capacity • We expect to increase our Heavy Oil production to 60 MBOPD by 2016, and to 270 MBOPD by 2030 • Extensive pilots with Cyclic Steam Stimulation are in place • Production with horizontal wells is also being piloted, providing opportunities for field development using both vertical and horizontal wells 9
Liquefied Natural Gas: The Seasonal Gap Filler • Over next two decades, scenarios suggest seasonal summer surplus on global LNG supplies • KPC is analyzing several supply options from different countries • Kuwait has been receiving LNG supplies on ad-hoc basis 10
Conclusions • Primary energy demand will continue growing in Kuwait. Scenarios indicate that a strong annual growth of 2.8 % can be expected through 2030 • Several sources of fuel will needed to supply energy needs, including gas, fuel oil and seasonal LNG imports • KOC have a clear roadmap in place to supply Kuwait’s energy needs • New technologies are currently under implementation to ensure such supply of fuel needs • Seasonal LNG imports may be needed during peek energy demand during summer 11