Deepwater development The ultimate frontier - Total.com

04
DeePWaTer DeVeloPmenT
s
1. luanda, angola.
Deep offshore
potential
Assuming that nearly half of the
world’s deepwater reserves have
already been discovered, ultimate
deepwater potential is currently
estimated to be on the order of
100 Bboe*. Although this volume
represents but a small portion
of total remaining reserves, it is
equivalent to two years of current
world production, or to the
aggregate of all proven reserves
of the world’s seven largest oil
companies. In other words, for the
few operators leading the way in
the discovery and development
of these challenging resources,
the deep offshore promises
significant opportunities.
* Billion barrels of oil equivalent.
//. CONtext
PrOMisiNG
PoTenTial for
The fuTure
s s s
Deepwater resources will contribute to the replacement
of world oil and gas reserves.
offshore resources have become essential contributors to world energy
supply, accounting for nearly 30% of hydrocarbon liquids production.
in the period from 1999 to 2003, 70% of the new oil and condensate
discoveries were offshore finds, raising the offshore share in world
reserves to 23% for liquids, and 42% for gas*. These figures, which stand
for very significant volumes, refer mainly to the “conventional offshore”
with water depths to 500 meters. reserves in deeper waters make up
a much smaller share in the world total: 4% for liquids, 3% for gas.
however, a number of deepwater “hot spots” – notably in africa, north
america and South america – have accounted for more than 75%
of the economically producible volumes identified in recent years.
With major oil and gas discoveries becoming increasingly rare in the
conventional offshore (water depths to 500 meters), oil companies are
now seeking reserve replacement in the deep (500 to 1,500 meters)
and ultra-deep (deeper than 1,500 meters) offshore. The main
high-potential areas have been pinpointed – off the sprawling estuaries
of the world’s major rivers, notably in the Gulf of mexico, the Gulf of
Guinea and the Brazilian offshore – but only a few oil companies master
the techniques needed to develop them efficiently. long considered
not economically viable, the production of these resources has become
reality through many technological advances and innovations in recent
years, from time-lapse seismic and high-precision drilling to subsea
equipment and surface installations specifically developed for these
extreme challenges. The industry has blazed a trail of progress since
the 1990s. Spearheading this progress with large-scale pioneering
projects, Total has established itself as a global leader in the conquest
of the deep seas. nnn
* Source: IFP (French Petroleum Institute).