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9 comments on Energy Institute Oil Depletion Conference

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julianj on November 11, 2006 - 10:33am Permalink | Subthread | Comments top
I attended the conference with Chris and James of Powerswitch.

I found Claire Durkin's presentation extremely disappointing, especially as simply saying something is "challenging" immediately makes me want to say: "Fine - how are we going to deal with this challenge?".

One relevant point to Chris' piece is that afterwards, in the pub, I was speaking to another attendee, who had been a senior North Sea Oil workers trade union official.  He told me that the infrastructure in the North Sea was in a terrible state, for a variety of reasons, including the harsh environment, poor maintenance, poor regulatory regime, and underinvestment.  His opinion was that the new companies taking over the smaller fields were trying to gouge the stuff out as fast as possible because they were afraid that the major infrastructure would break - he thought that oil would end up stranded.

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Chris Vernon on November 11, 2006 - 10:58am Permalink | Subthread | Parent | Comments top
The several times Kemp mentioned production out to 2035 made me think about the state of the infrastructure. Looking at his NPV data for the large number of small fields, they are unlikely to be economical without being able to piggyback on existing infrastructure. Does it have another 20 years left in it? As we're already see increased failure rates I doubt it.
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