NICE - APPEX Regional 2015

Atlantic margin frontier drilling success since 2007 reviewed & the future of exploration in a US$ 50 bbl World considered

The talk reviews the results of around 120 wells targeting frontier plays in the Atlantic margins since 2007 and following the breakthrough Tupi and Jubilee discoveries.  The review covers $12bn in drilling spend which has delivered 10 potentially commercial discoveries.   Although several new oil plays have emerged none is yet of the scale of the pre-salt Santos or Tano Basins and the emerging play prospect portfolio is not being replenished.  Industry oil finding costs have risen to uneconomic levels in 2015 and the paper will consider why that is and what can be done to make exploration an attractive investment proposition again. 

About the Speaker

Dr. Keith Myers

Keith joined BP in 1987, having graduated with a geology PhD at Imperial College. Following a variety of technical roles, he became Senior Commercial Advisor leading several major business negotiations for new business access. He also led strategy for BP’s business in West Africa in the Strategic Alliance with Statoil. Since 2000 Keith has been an advisor to numerous energy companies on strategy and partnership issues. He went on to found Richmond Energy Partners in 2006 to provide independent advice to investors in smaller oil and gas companies. REP now advise some of the largest funds and institutions investing in the sector and provide exploration strategy and benchmarking services for the global exploration industry. Keith takes a keen interest in the oil sector governance and serves as a member of the Natural Resource Governance Institute and is on the guest teaching faculty of the Blavatnik School of Governance at Oxford University. 

Exploration and Production Opportunities spanning the Atlantic Margin