Agenda

10/10/2014
REGIONAL ASSOCIATION OF
OIL, GAS & BIOFUELS SECTOR COMPANIES
IN LATIN AMERICA AND THE CARIBBEAN
Reservoir
Management at
Pluspetrol S.A.
Telmo Gerlero
Pluspetrol S.A.
86th ARPEL Experts Level Meeting (RANE) “Management of Reservoirs”
October 6-7, 2014 – Buenos Aires, Argentina
Agenda
The Company, Expertise and History of its Evolution
Production Growth, a parallelism with Company Evolution
Operational Excellence: The Foundation for Reserves Progression
Redesigning the Processes
Maturity and Operations Cycle
Human Resources
86th ARPEL Experts Level Meeting (RANE) “Management of Reservoirs“ – October 6-7 – Buenos Aires, Argentina
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Strong Presence in Latin America and
Growing in Africa
Colombia
• Exploration in Llanos, Sinu-San
Jacinto and Putumayo basins
Venezuela
• Operator of gas licenses: gas
discovery in development phase
(Tiznado block)
• Entering Faja through acquisition
of Harvest NR
Peru
• #1 oil and gas producer in the
country
• Largest operator in the Amazon
• Responsible for the development of
gas giant Camisea field
• 2 exploration licences
Bolivia
• 4 producing fields
• Exporting gas to Argentina
• Large exploration portfolio
Argentina
• 3rd oil producer in the country
• 5th gas producer in the country
• Well-positioned in both,
Neuquina and Northwestern
basins
• Small interests in midstream and
downstream
Chile
• Non-operated interest in El Tranquilo
block
Angola
• Operator of Cabinda South block
• Partners: Sonangol, Force.
• Castanha oil discovery already
producing
• Noz discovery under evaluation
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86th ARPEL Experts Level Meeting (RANE) “Management of Reservoirs“ – October 6-7 – Buenos Aires, Argentina
History of Company Evolution
LatAm Cons.
Africa Eval.
Diversification
in LatAm
10 years in
Peru
International
Expansion
Today
Mid 00´s
00´s
Focus on
Argentina
Mid 90´s
Early 90´s
Begining
86th ARPEL Experts Level Meeting (RANE) “Management of Reservoirs“ – October 6-7 – Buenos Aires, Argentina
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Experience in Operating High
Pressure Multi-TCF Gas Fields
Camisea Project (Peru)
Ramos Field (Argentina)
Oil Production
Gas Production
Oil and Gas Production
MMcf/d
Mbbl/d
2,000
200
1,500
150
1,000
100
500
Gas Res.:
12 TCF*
Oil Res:
650 MMbbl*
0
2004
2005 2006 2007 2008 2009 2010 2011 2012 2013
Gas Res.:
0,2 Tcf*
400
300
50
0
Gas Production
MMcf/d
200
Oil Res:
1.9 MMbbl*
Cum. Gas Prod.:
2.3 TCF
100
0
* Proved reserves
1980
1985
1990
1995
2000
2005
* Proved reserves
2013
* Operated Reserves.
** Oil production
in Ramos is currently ~3500 bbl/d,and
th ARPEL Experts Level Meeting (RANE) “Management of Reservoirs“ – October 6-7 – Buenos Aires, Argentina
its86
highest
production almost reached 7000 bbl/d in 1999.
Source:
Pluspetrol.
5
Reactivation of Marginal Fields and Operation in
Remote Areas
Centenario (Argentina) – Production
Mboed
35
Pluspetrol
Pre-Pluspetrol
Block 8 (Peru) – Reserves
MMbbl
30
Reserves:
49 MMboe
25
105
123
Production:
11.2 Mbbl/d
20
15
59
+158%
40
10
5
0
1962
1977
2013
Initial
Reserves
(1996)
Added by
Pluspetrol
86th ARPEL Experts Level Meeting (RANE) “Management of Reservoirs“ – October 6-7 – Buenos Aires, Argentina
Cumulative
Production
Remaining
Reserves
(2013)
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Expertise In Operations that Require Complex Logistics
Argentina – North District
Peru – Camisea Project
• Block 88
• Ramos Field
• Block 56
Peru – North Jungle
Angola – Onshore Cabinda
• Block 8
• Cabinda South
Block
• Block 1AB
86th ARPEL Experts Level Meeting (RANE) “Management of Reservoirs“ – October 6-7 – Buenos Aires, Argentina
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Surfing the Knowledge Wave…
Chemical EOR Project Development
0
I
II
EOR Screening Fluid to Fluid Fluid to Core
Studies
Studies
III
IV
V
Field Scale
Field
Pilot
Simulation Implementation Development
EOR in-house
multidisciplinary team
Member of the CEOR JIP
(University of Texas –
Austin)
El Corcobo (P/ASP)
Centenario (SP)
Challacó (SP)
Aguada Baguales (SP)
Integration with external
partners
Technology implementation
through field pilots
86th ARPEL Experts Level Meeting (RANE) “Management of Reservoirs“ – October 6-7 – Buenos Aires, Argentina
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Interesting position for unconventional
developments in the Neuquen Basin – Vaca Muerta
Pluspetrol’s position in Neuquen Basin
Unconventionals Overview
Pluspetrol holds over 2.5 million
acres in the Neuquen Basin
Pluspetrol’s net acreage with
shale potential is 352,000 acres
Our acreage position is diversified
across different maturity windows
We have recently acquired an
important position through a deal
with YPF regarding Apache’s
assets
86th ARPEL Experts Level Meeting (RANE) “Management of Reservoirs“ – October 6-7 – Buenos Aires, Argentina
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Operated Production Growth, a parallelism
with Company Evolution
600.000
BOED
Camisea 2nd
expansion
PAR
Acquisition
500.000
400.000
Camisea Contract
300.000
Expansion in
Peru – B1AB.
200.000
Started with
Centenario
100.000
Ramos
Expansion in
Argentina &
Bolivia.
Expansion in
Peru – B8.
Today's operated
production is slightly
over half a million
BOED
Camisea 1st
expansion
Camisea
Start Up
LIQUIDS
Production has
continually been
increasing in parallel
with Company
Growth
GAS
-
Around 65% is Gas,
35% is related to
associated
condensate & LPG,
light crude and heavy
oil
86th ARPEL Experts Level Meeting (RANE) “Management of Reservoirs“ – October 6-7 – Buenos Aires, Argentina
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Operational Excellence…. Foundation for Operation
Growth
Process
Operational Excellence is
the defined Strategy that
will support Company
Growth and Sustainability
Technology
People
86th ARPEL Experts Level Meeting (RANE) “Management of Reservoirs“ – October 6-7 – Buenos Aires, Argentina
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A road for Operational Excellence
Operation
s Integrity
Integrated
Planning
Processes
Organization
Organization
Capability
Capability
IMPACT ON:
Integrity and Safety
Production Efficiency
Reserves Replacement
Operation Costs
Capital Productivity
Operational License
Performance
&
Accountablity
86th ARPEL Experts Level Meeting (RANE) “Management of Reservoirs“ – October 6-7 – Buenos Aires, Argentina
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Reservoir Management & Reserves Progression
The Mission
To assure company sustainability through
constant reserve replacement and
opportunities progression
(3C)
P3
P2
86th ARPEL Experts Level Meeting (RANE) “Management of Reservoirs“ – October 6-7 – Buenos Aires, Argentina
P1
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Redesigning the Whole Process
Core processes helped defining
key roles and accountabilities
Exploration
Reserves Progression
& Reservoir
Management
Production
Management
Motivated multidisciplinary,
multifunctional team working
environment
Capital Excellence Process (CEP)
Established a common language
Unconventionals Development
Safety & Integrity
Risk Management
Integrated all main areas
involved in the value chain from
Exploration through Production
86th ARPEL Experts Level Meeting (RANE) “Management of Reservoirs“ – October 6-7 – Buenos Aires, Argentina
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Reservoir Management Processes
Company Resources & Reserves
Reserves Progression & Reservoir Management
PROA
Surveillance
Strategy
Reserves and
Contingent
Resources
Management
Depletion
Planning
Reservoir Modelling
PROA: Progression of Opportunites Administration
New Ideas
Generate new
development
opportunities
Discovery
Perform feasibility
studies
Execute, monitor and
evaluate URP
Progress reserves and resources based
on a deep understanding of reservoir
models and their uncertainties
Identify new opportunities and convert
them into feasible projects (PROA)
Design surveillance plans and pilots
projects to reduce reservoir
uncertainties
Generate integrated long term
depletion scenarios (DP) that include
all ongoing and new development
projects
Consolidate processes outputs into a
clear reserve & resource company
position
86th ARPEL Experts Level Meeting (RANE) “Management of Reservoirs“ – October 6-7 – Buenos Aires, Argentina
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Planning for Reservoir Depletion…
Not a Synonym of Declining
PROA
Depletion
Planning
Surveillance
Strategy
Reservoir Modelling
Basic
Projects
Reserves and
Contingent
Resources
Management
Represents an integrated platform
that provides complete development
scenarios and uncertainties to
support decision making
Contains developed forecasts,
current scenarios and new projects
from PROA
PROA
Assures execution and consensus
through a decision gate composed by
first line managers
86th ARPEL Experts Level Meeting (RANE) “Management of Reservoirs“ – October 6-7 – Buenos Aires, Argentina
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How Mature Our Operations are
Sales
ANGOLA
CAMISEA
BOLIVIA
PPN
COLOMBIA
EOR
RIO
COLORADO
NQN
UNCONV
HEAVY OIL
Maturity
Harvest
RAMOS
A diversified asset portfolio
including different maturity stages
TIGHT GAS
Growth
Supports company’s sustainability
through resources and reserves
progression
Decline
Acquisitions in the first half of the
maturity curve help balancing
company portfolio
Start-Up
Shutdown
Time
86th ARPEL Experts Level Meeting (RANE) “Management of Reservoirs“ – October 6-7 – Buenos Aires, Argentina
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Human Resources… the Capital for this Endeavor
HR are one of the foundations for Operational Excellence
External context is demanding… internal one is challenging
Hiring, developing and retaining HR are crucial for company
sustainability
Benchmarking of professional skills and retention policies
Top-growth companies have higher technical headcount
86th ARPEL Experts Level Meeting (RANE) “Management of Reservoirs“ – October 6-7 – Buenos Aires, Argentina
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Age Distribution for Company’s Professionals
Argentina
Perú
Corp
30%
An important gap for middle-aged
professionals
25%
Gap could impact on company’s
expertise and/or leadership
20%
Need to classify technical skills and
identify gaps by seniority and areas of
work
15%
10%
5%
Develop a program to strengthen
technical careers
0%
20-2425-2930-3435-3940-4445-4950-5455-5960-6465-6970-74
86th ARPEL Experts Level Meeting (RANE) “Management of Reservoirs“ – October 6-7 – Buenos Aires, Argentina
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Conclusion…
It’s important to have well-defined processes and its implementation can be
challenging
There’s a need for interdisciplinary work
Implementation of processes drive opportunities progression through
discipline integration and systematic approach
Knowledge spread to different geographies
Importance of corporation quality standards
The important role of HR strategy
New technologies
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