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What Does the Future Look Like for the Oil & Gas and Energy Sector – The Energy Transition
May 31, 2022 @ 12:00 pm - 2:00 pm AESTAUD15 – AUD77
Pale Blue Dot Energy Limited
This presentation considers the future of the oil and gas industry from two perspectives.
The first half paints a picture of an industry in extremely good health and with an exciting future – global population continues to grow and individuals’ standard of living continues to rise – so demand for energy is growing steadily. Despite this growing demand, global proven reserves have risen as technology improves. In addition, we know where there is a lot more oil and gas in deposits that are currently uneconomic, but a small increase in the oil price would make these “proven reserves.” In a nutshell, the industry might have a bright future.
The second half presents the significant obstacle: summarizing the science of climate change and considering what happened when temperature rose this high in the past. The emerging alternatives, renewables, energy efficiency, and some dramatic scientific advances in “clean hydrocarbons,” will also be reviewed.
The presentation closes with an assessment of the impact of these competing forces on the oil and gas industry, the developed world, and the human race.
Ian Phillips has over 30 years of experience in the upstream oil and gas industry with operators and service companies.
In 2007 he became a founding Director of CO2DeepStore Limited – now Pale Blue Dot Energy Limited – the first company specifically seeking to deliver CCS as a service.
He holds an M.Sc. in Petroleum Engineering from Heriot Watt University and an MBA. He is also a Fellow of the UK Energy Institute and is a Chartered Petroleum Engineer.
He recently completed 4 years as chair of the SPE Aberdeen Section and was previously North Sea Regional Director on the SPEI Board. He is an SPE Distinguished Member.