Future Subsea Oilfield
“Future Subsea Oilfield”
A Round Table Discussion Hosted By BP
Located in Exhibit Hall E, across from registration
The Inspection, Maintenance and Repair (IMR) market continues to be under pressure, experiencing new lows for day rates and significant ongoing market oversupply. Service companies have continued to respond to the challenging market situation by cutting costs, reducing supply capacity, workforce and capital commitments. With the current downturn being “lower for longer”, service companies are expected to face tougher financial challenges. Recovery is expected to be gradual and extended as market confidence slowly returns.
There is an opportunity to challenge the thinking in the IMR space and leverage human capital and technology to deliver new technologies, automate and integrate artificial intelligence and machine learning techniques to unlock autonomous execution of this scope. This will drive an inherently safer worksite, remove people from site, enhance human performance, remove human error and embed learning.
This discussion is the continuation of “The 2025 Offshore Oilfield” panel discussion conducted at the 2019 Underwater Intervention conference. The focus of this year’s panel will be the developments within the industry during the past 12 months along with other hopeful technologies that have developed and/or improved since our last discussion.
On Wednesday, February 5, 2020, at Underwater Intervention 2020, BP will host an industry Round Table Discussion in which BP, service companies, and representatives from NOAA, and the USAF Academy will share and discuss their views on the future of the subsea oilfield. Through collaborative, performance-driven relationships, the operator/service company team will deliver the step change in technology. Leading the discussion will be Mark Siegmund, Director of Technology and Stakeholder Engagement for Aquila Systems.
Please join us in this discussion. The industry very much welcomes your input to challenge the status-quo and enable rapid evolution of our technology.
This round table discussion will take place on the floor of The New Orleans Convention Center within the UI2020 exhibit hall. Full conference credentials are required for access to the discussion area.
Wednesday, February 5, 2020 (13:30-15:30): Operator and Service Company Round Table Discussion
As the industry and the market realigns to the prolonged downturn, the IMR market is likely to see structural shifts, greater collaboration within the supply chain, restructuring/consolidation and rapid evolution of digital advances.
The oil and gas industry needs automation and digitization in pursuit of continuous improvement for the industry.
The operators are keen on improving their understanding of the service providers’ challenges in automating and digitizing this sector and the role they can play in supporting the market. The question being posed is how collectively we create value and become more efficient in:
- Platform resupply.
- Personnel transport.
- Inspections and ongoing maintenance.
- Regulatory compliance.
If the surface infrastructure could be replaced with subsea production components maintained and inspected by autonomous systems on the seabed, clear and significant benefits would be realized such as:
- Lower risk exposure due to less people offshore and less vessels around the facilities.
- Optimized access to facilities resulting in a better understanding of the subsea infrastructure integrity.
- Life of field extension due to better modeling of field end-of-life.
- Expensive boat time would be the exception instead of the rule.
- Possible enabler for more production facilities at seabed, resulting in freedom of navigation, lowered likelihood of tampering and less weather dependency.
Summary and Conclusion
This discussion is relevant and timely. Furthermore, this will allow for a vision for the service companies to develop and pilot the technology. Operators need the rapid evolution of technology and digital advance to drive autonomy, efficiency and cost-effectiveness, while improving safety performance for the world’s energy future.
Hosted by BP,
the panel discussion for
"Future Subsea Oilfield"
is included with your full conference registration!
Senior Subsea Engineer and Wells Reliability Advisor
With a BSc in Petroleum Engineering from the University of Louisiana Lafayette, Mark has gained over thirty-five years of both Subsea Production & Deepwater Well Engineering experience both domestically and internationally. For the last 28 years, Mark has served major operators in Subsea leadership roles in projects, on technology development, and in operations, and is a recognized Subject Matter Expert on the application of Subsea & Wells Reliability Engineering.
Within Industry, Mark has been both a past chairman and now co-chair of the API RP 17N Steering Committee for Subsea Reliability and Technical Risk management, and a longstanding chairman of the Well Expert Committee’s Well Control Systems Subcommittee & Subsea BOP Reliability Task Force within the International Oil and Gas Producers (IOGP) Association.