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History of the Oilfield – Oil 101A Special Presentation for:Petroleum Equipment Suppliers Association25 October, 2010

Presentation Outline• Drivers for petroleum industry• History of early oilfield technology• “Modern era” of the petroleum industry• New technologies that will make a difference2

Challenge: Developing InfrastructureIn Historically Volatile RegionsSource: James Baker Institute For Public Policy

Early History of Oilfield Technology• Oil was found in “seeps” at surface around world• Chinese invented drilling process around 300 AD• Little progress made in technology for centuries• Demand for oil, lack of refining capability, andwhaling industry were limiting factors4

1,500 Years of Drilling Technology Progress?53 rd Century ADEarly 1800’s

End of One Era/Beginning of AnotherHawaii: 1850’sSnake Oil Salesman6Early Refinery

Important Milestones in Petroleum• 1853 – Kerosene lamp invented• 1859 – Edwin Drake well drilled• 1878 – 1 st recession (Edison made light bulb)• 1880s – Auto and steam engine7

Modern Era of Petroleum Industry81859 – Drake Well - PA1901 – Spindletop TX

Oilfield Technology Edict“Necessity is the mother of invention.”-- Plato9

10Howard Hughes Bit – 1908

Invention of BOP – 19221119101922

How Major Service Companies Started12

14California Pier Drilling

15Stuff Happens!!!

Wireline - 1912Conrad & MarcelSchlumberger16

17Logging While Drilling - 1978

18Computers

19Top Drive Drilling Systems - 1982

20Subsea Equipment - 1967

21Geophysical Surveys

Drill Bits - 1908Hughes Bit22

23Reservoir Modeling

24Enhanced Oil Recovery

25Drilling Rigs

NASA Uses OilfieldTechnology to Drill on Mars26

What Does the Future Look Like?• Oil and gas will remain dominant for decades• The oil service sector has a very bright future• China: Eventually the largest petroleum user• Middle East natural gas use to surpass Europe• Challenge: Exploiting increasingly difficultreserves – safely!!!27

28Pending Manpower Shortage

29Questions?