Lord Browne: UK in Strong Position to Benefit from Unconventional Gas
The UK is in a strong position to benefit from potential growth in the unconventional-gas sector, according to former BP chief executive Lord Browne.
The well known oil and gas industry figure will be in Aberdeen at the start of March for the city’s first unconventional-gas conference.
The Challenge of Making Unconventionals Conventional event will focus on shale gas, tight gas and coal-bed methane (CBM).
Lord Browne, now managing director (Europe) of Riverstone Holdings, is to give the closing speech.
He said: “Unconventional gas is proving to be a game changer in the oil and gas industry. In the space of just a few short years, it has transformed the supply picture in North America and may do so again here in Europe. Building on the expertise and technological know-how developed in the North Sea, the UK is in a strong position to benefit from the potential growth in unconventional gas.”
A group of energy-focused private equity funds managed by Riverstone LLC is reported to hold 36% stake in Cuadrilla Resources, which is presently seeking shale gas in Lancashire. (Read More HERE)
The conference programme focuses on adaptations necessary for British oil and gas service companies to make the transition into onshore unconventional resources.
In Canada and the US, shale and CBM now account for more than 20% of domestic gas supply. Big opportunities exist as developments take off in new areas with differing geologies and challenges such as China, India, Australia, South America and east and west Europe.
The Aberdeen event has been organised by the city council and is being chaired by Simon Seaton, vice-president of Halliburton UK, with support from the Industry Technology Facilitator and Granite City section of the Society of Petroleum Engineers. He said: “The potential for shale-gas production in Europe alone is huge, with reserves that could potentially rival those found in the US. Harnessing this potential will not be easy. Every unconventional reservoir has different characteristics and operators are likely to face numerous challenges as they pursue new sources of natural gas.
“This makes it more important than ever to share our expertise and partner with internationally renowned experts to help solve brand new challenges.”
Delegates will hear from operators such as Chevron, Toreador Resources and Warrego Energy about their unconventional-gas portfolios and challenges for successful future developments.
Companies such as Baker Hughes, Schlumberger, Halliburton, Xodus Group and Rockfield Software will outline how their technologies are helping to shape developments globally.
Bill Tinapple, from the Western Australian government’s department of mines and petroleum will also be a speaker. He said: “Exploration for unconventional gas is in its infancy here. Offshore Western Australia has all the benefits of available technology and equipment, but it does not have enough onshore equipment, such as drilling rigs and fraccing (fracture stimulation) units and associated technology.”
Kate Dean, convener of the Aberdeen council’s enterprise committee, said: “The extremely high calibre of speakers at the conference and the investment being made by both operators and service companies in the city clearly demonstrates that Aberdeen is becoming a serious player in this arena.
“This conference will harness this expertise and articulate it to a wider audience.”
The conference will be held at the Aberdeen Exhibition and Conference Centre on March 1-2.
Natural Gas for Europe is pleased to be an Official Media Partner of Unconventional Gas Aberdeen 2011 . Learn more HERE