Singapore Section

2023 End of Year Party!

Dear members, You are cordially invited to our end-of-year party, held on Wednesday, 6 December, from 6 to 9 p.m., at Dallas Restaurant and Bar (Level 3), 31 Boat Quay. This event is a collaboration with the AIEN (Association of International Energy Negotiators) society. This invitation is for SPE Singapore chapter members only . Advance registration and cross-checking of a valid membership list will be required. Please register through the registration section of this page. This will be an opportunity to connect with energy industry colleagues, exchange ideas, and expand your professional circle while celebrating the year-end over drinks and nibbles. Price: Members $35. IMPORTANT: Payment at the door is NOT available, and only registration paid before the 4th of December will be included in the attendance list Please pay by Paynow to WCW at 8337 4173. Official receipt will be sent to your email after the event. Looking forward to seeing you there!

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Joint with AIEN Workshop: Carbon Capture, Utilisation and Storage in the APAC Energy Industry

The Singapore SPE section is collaborating with the AIEN to bring you an outstanding event at members rate. If you are SPE member but not AIEN member, you can still register with member's rate. Below are the details of the event: One-day conference on “Carbon Capture, Utilization & Storage in the APAC Energy Industry”. The conference will focus on CCS/CCUS issues that are relevant for the energy industry in the Asia Pacific region. The focus will be on global sustainability issues such as: Introduction to the basic technical, transportation, commercial, and legal concepts associated with CCS/CCUS. An understanding of the minimum standards required to facilitate CCS/CCUS and the tools to evaluate existing legislative and regulatory frameworks to improve these regimes. An understanding of how the industry is considering CCS/CCUS projects in selected APAC countries in the absence of comprehensive regulatory frameworks, including the development of contractual models to mitigate risks. A discussion on market creation and current financing mechanisms to support CCS/CCUS in Asia. This conference will include a diverse group of highly experienced and knowledgeable professionals in the energy industry. Our speakers and panelists will address topics such as the role of CCS/CCUS as a low-carbon solution, legal risks associated with inadequate regulatory structures, opportunities in APAC, the current regulatory frameworks in Asia Pacific, and more. Conference Co-chairs Michael Arruda, King & Spalding LLP Egon van der Hoeven, ExxonMobil Low Carbon Solutions Continuing Education Credits AIEN is an accredited sponsor approved by the State Bar of Texas Committee on MCLE. The number of MCLE credit hours awarded for this event are still being determined. Registration Fees Your conference registration includes digital materials, breaks, a lunch and a Networking Reception. Your registration does not include hotel and travel accommodations. All fees are in USD. Member Rates AIEN/SPE Active Member: $300 Government/National Company Member: $300 Non-Member Rates Non-AIEN and Non-SPE member: $375 SPE Singapore members' special : you can get a discounted price of $300. Please contact Paulina directly (details at the bottom of this page) to get your discount coupon code. You will then enter the discount coupon code when submitting the payment on the registration website page. Click the blue button "Register Now" below. Objectives This one-day forum will: · Introduce basic technical, commercial, and legal concepts associated with CCS/CCUS · Describe minimum standards required to facilitate CCS/CCUS and the tools to evaluate existing legislative and regulatory frameworks to improve these regimes · Discuss market creation and financing mechanisms available to support CCS/CCUS in Asia · Discuss how the industry is considering CCS/CCUS projects in selected APAC countries in the absence of robust regulatory frameworks, including the development of contractual models to mitigate risk Sessions / Panels / Speakers 1. Welcome Remarks (9:00 am – 9:15 am) – Michael Arruda, AIEN Asia Regional Director, King & Spalding LLP (Tokyo) 2. Keynote : Role of CCS/CCUS as a Low Carbon Solution and Opportunity in APAC (9:15 am - 9:45 am) – Abstract : Countries and companies are setting aggressive net-zero targets, while hydrocarbon energy forms are still required to meet the world's energy demands. Carbon capture, utilization, and storage, at scale, will be among the tools necessary to reach these targets. The keynote speaker will set the stage for how CCS/CCUS’s potential can provide large scale solutions for hard-to-decarbonize sectors of the economy with a focus on its role in Asia Pacific. 3. The Value Chain of Carbon – Capturing, Transporting and Storing CO2 (9:45 am – 11:00 am) Abstract : CCS technology has been deployed for nearly half a century. Employing this solution at scale and across borders requires new policies to establish a value chain between emitters, transporters, and storage providers. This panel will provide an overview of the technical aspects of CCS/CCUS; market creation and financing, including Inflation Reduction Act and Joint Carbon Market (Japan); and liability considerations for CCS/CCUS projects. a. Overview / Moderator: Mark Tandy, Senior Business Developer, EP/NB-CN/CCS, TotalEnergies (Paris) b. Technical i. Capture / Hubs Joseph Stroffolino, Solution Development Manager, Energy Transition APAC, Air Liquide (Singapore) ii. Transportation – Shipping, Pipelines, Terminals Yuji Aibara, Mitsui O.S.K. Lines, Ltd. (Tokyo) iii. Storage / MMV Prabhat Agrawal, Senior Advisor, Gaffney Cline (Singapore) c. Risk Management Baker Botts – Michael Harrison, Partner (Singapore) \ d. Market Creation and Financing Standard Chartered – Kamal Khullar, Managing Director, Energy and Resources – Asia Pacific and Middle East (Singapore) Networking Break (11:00 am – 11:15 am) 4. Current Regulatory Frameworks in Asia Pacific (11:15 am – 12:30 pm) Abstract : Enabling large scale CCS/CCUS projects requires regional cooperation and corresponding national policies to encourage investment, development, and safe operations. Comprehensive legislation or regulations have yet to be put in place to do so. While countries' policies are in varying stages of development, long-term investors require certain minimum legislative and regulatory standards to underpin investments decisions. This panel will cover the current legal and regulatory frameworks in certain Asia Pacific countries and discuss minimum standards necessary to encourage investment and realize development of CCS/CCUS value chain. Speakers/moderators under consideration a. Singapore : Kelvin Wong, Partner, Allen & Gledhill (Singapore) b. Indonesia : Belladonna Maulianda, Special Advisor Coordinating Ministry Maritime Affairs and Investment, Executive Director of Indonesia CCS Center (Jakarta) c. Malaysia : Emry Hisham Yusoff, Head of Carbon Management Division, Petronas (Kuala Lumpur) d. Australia : Jocelyn Taylor, Manager, CCUS & H2 Collaborations, Department of Climate Change, Energy the Environment and Water (Canberra) Moderator : TK & Partners , Ed Lock, Managing Director (Bangkok) (Co-Author, “Unlocking Asia–Pacific’s Vast Carbon-Capture Potential”, McKinsey & Company (February 2023)) Lunch Break: 12:30 pm – 2:00 pm 5. Legal Risks Associated with Inadequate Regulatory Structures (2:00 pm – 3:15 pm) Abstract : Incomplete regulations and inconsistent frameworks across the Asia Pacific region require interim solutions to bridge the gaps. This panel will discuss legal challenges associated with gaps in the regulatory frameworks, cross-border considerations, and brainstorm possible solutions. a. King & Spalding – Zoe Bromage, Partner (Singapore) b. Shearman & Sterling – Angie Bible, Counsel (Singapore) c. Squire, Patton, Boggs – Natalie Lonergan, Partner (Sydney) Moderator : Professor Tina Soliman Hunter, Macquarie University (Sydney) (co-author, Implications of ‘Net-Zero Emissions by 2050’ for the Hydrocarbon Industry: A Case Study of Selected Mature Petroleum Jurisdictions , JWELB) Networking Break: (3:15 pm – 3:30 pm) 6. Commercializing Carbon (3:30 pm – 4:45 pm) Abstract : There are minimum commercial and regulatory standards required to regulate the capture and storage of carbon and to provide the potential for entering into commercial arrangements for its utilization. This panel will discuss those minimum standards and current efforts underway in Asia Pacific and elsewhere – including the development of model contractual arrangements -- to ensure that the benefits of CCS/CCUS can be realized to assist countries and companies realize their net zero ambitions. a. Petronas – Emry Hisham Yusoff, Head of Carbon Management Division – Kasawari (Kuala Lumpur) b. ExxonMobil – Christina Konvicka, Global Policy Coordinator – Indonesia CCS Hubs (Houston) c. Chevron – Vitaly Osokin, Business Development Manager New Energies, Asia Pacific (Singapore) d. Santos – Nick Pembshaw, Vice President, Infrastructure (Adelaide) Moderator : Phil Solomon, Managing Director, Berkeley Research Group (Singapore) 7. Closing Remarks (4:45 pm – 5:00 pm) 8. Networking and Cocktail Reception (5:00 pm – 7:00 pm)

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Geothermal - Overview

The talk will cover main aspects of the geothermal industry with a special focus on the subsurface exploration for heat capacity of an area. - types of heat sources - map of the world with main infos : countries where geothermal plays an important role, highlights about what's happening and what happened) - types of usage (heat or electricity prod), types of development - stages of development - important rules and regulations to abide other international and give some local highlights - why is geothermal developed (strength) and what are the weaknesses (risks, difficulties, costs) - some notable examples Bio: Christovik Simatupang is Baker Hughes Geothermal Advisor. Prior to that he was Chevron's geochemistry specialist with focus on geothermal. He has 20 years supporting the geothermal industry, especially in the field of geochemistry and geology, and co-authored 17 papers. The geothermal experiences were obtained from various geothermal systems, namely, - steam dominated in Darajat, - liquid dominated in Salak, - fault-controlled system in Silangkitang, - supergene acidic and high gas system in Namora-I-Langit, - concealed outflow system in Sorik Marapi, - supergene acidic system in Sokoria. In addition, the exploration work and conceptual modeling covers various prospects in Indonesia, the Philippines, and Japan. In addition, the exploration geochemistry work and conceptual modelling covers various prospects in Indonesia, the Philippines, Japan, Iceland, Taiwan and Africa. The exposure to different heat extraction technologies, i.e., single flash, double flash, and combined cycle binary in the aforementioned geothermal fields has also contributed to the enhancement of thorough knowledge and understanding on the full complete cycle of geothermal utilization, not to mention, the fluid treatment to prevent corrosion and scaling by using NaOH, H 2 SO 4 and chemical polymer inhibition. The sphere of influence has been widened by involving in ESG (Environmental, Social, Governance) projects for instance air dispersion modelling of carbon and H 2 S emission. Gathering around 6PM, delicious Italian food and networking Talk 6:45PM - 7:15PM Q&A and further networking till 8:30PM Cost (for registration in advance): Members $35 / Non-members $50 / Students-retired-unemployed $25 Please register through this website so we record your name and email address. We only receive payment by Paynow or bank transfer. IMPORTANT: You will need to make a payment in advance. Please pay by Paynow to WCW at 8337 4173. Remember to indicate your name in the reference. Official receipt will be sent to your email after the event. Payment at the door is $75 for everyone. See you soon! Please feel free to contact Arinta via WhatsApp or email for any questions or clarification. Contact details below.

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Biofuel's role in the low carbon landscape - Joint Event with IchemE

Abstract: Biofuels can be a suitable alternative to fossil fuels as low-carbon fuels because they mitigate greenhouse gas emissions and the impact of climate change caused by transportation and power generation. For this purpose, industry has focused on increasing production and improving the efficiency of the production process of biofuels and Sustainable Aviation Fuel. The need for sustainable transportation fuels is a critical issue in all societies globally. Post Covid the need for personal F2F interaction and international travel has been reinforced. We can’t do without it. For ground transportation, electrification with batteries in EVs is growing rapidly. Though this has distance limitations. For long distance air transportation, the use of Sustainable Aviation Fuel must grow as quickly as we can create it. However, this is neither easy nor cheap. SAF and Biofuels have both technical and ESG challenges. The key to the S-sustainability is the use of bio renewable and recycled feedstocks. These are in limited supply and have wide variability nationally and regionally. We don’t want to have another food vs fuel conflict, as we have seen in the past. What we need to determine is how best can we create the most sustainable and cost-effective ways of producing SAF and Biofuels? One of the tried and proven ways of determining how best to produce SAF & Biofuels, or any hydrocarbon fuel, is by utilising process simulation. To do this accurately each potential feedstock must be characterised, mathematically/digitally, so that the behaviour of each molecule, or groups of molecules, can be determined in a variety of process equipment. Simulation also offers a very effective way of tracking the Carbon Intensity of each molecule as it passes and changes through a process which can provide the CI audit trail of any fuel product. A critical step in certifying a fuel product’s greenness. Our obligation, as the SPE, is that we must address all aspects of creating this sustainable part of the cyclic economy. In turn we must communicate these to the regulatory authorities and to the public to create clear understanding of the technical and ESG issues. This is so that the most effective regulatory polices are put in place which most benefit society both today and create a cleaner environment in the future, for our children and grandchildren. This presentation will delve into some of the diverse feedstocks and the process synthesis routes for making SAF and Biofuels, addressing some of the issues around scalability and efficiency of these feedstocks. It will discuss process simulation technology which can be used to select economically viable and sustainable SAF and Bio Fuel production schemes, create and design new processes, optimise their operations, track CI, energy efficiency and minimise lifecycle cumulative emissions. Speaker: Russell Byfield FIEAust CPEng NER APEC Engineer IntPE(Aus) RPEQ SPE Russell has over 30 years’ international experience in the Petroleum and Process Industries. Russell has held a variety of global, regional and international technical, managerial, directorial & chairman roles. He has experience in refinery operations and planning, oil & gas field development, reservoir engineering, process facilities design, fabrication, commissioning and operations, technology commercialization, business strategy & planning and since 2000 has mainly focused on the modelling, analytics, digitalization, optimization and decarbonization of the Oil & Gas and process industries. Russell has a Chemical Engineering Degree with Honours from Adelaide University, is a Fellow of Engineers Australia, a Chartered Professional Engineer, Registered Professional Engineer in Petroleum and Chemical Engineering and is a Past Chair of the Queensland Branch of the Society of Petroleum Engineers. Gathering around 6PM, drinks nibbles and networking Talk 6:45PM - 7:15PM Q&A and further networking till 8:30PM Cost (for registration in advance): Members $35 / Non-members $50 / Students-retired-unemployed $25 Please register through this website so we record your name and email address. We only receive payment by Paynow or bank transfer. IMPORTANT: You will need to make a payment in advance. Please pay by Paynow to WCW at 8337 4173. Remember to indicate your name in the reference. Official receipt will be sent to your email after the event. Payment at the door is $75 for everyone. See you soon! Please feel free to contact Arinta via WhatsApp or email for any questions or clarification.

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Carbon Capture and Storage and the CO2 Storage Resources Management System (SRMS)

Rawdon Seager, Gaffney, Cline & Associates Abstract: After the lecture, members will understand the importance of carbon capture and storage in the transition to a lower carbon future, and know how to evaluate quantities consistently using the SRMS. As part of the international effort to combat global warming, significant attention is being given to ways to sequester (store for the long-term) carbon dioxide, which is a major contributor to the greenhouse effect. It is therefore critical that there is a universal means to record the storable quantities by recognizing the maturity of the projects to be implemented and the confidence that can be placed in the estimated volumes to be sequestered. This talk will look at some of the ways in which carbon dioxide can be stored and provide a review of the CO2 Storage Resources Management System (SRMS) framework prepared by the Society of Petroleum Engineers to classify and categorize the storable quantities. The talk will cover: • An overview of carbon capture, utilization and storage, including the role of greenhouse gasses in global warming • Discussion of typical modes of storage of carbon dioxide in saline aquifers and depleted oil and gas fields • Review of the CO2 Storage Resources Management System (SRMS), including principles and key definitions • Discussion of economics and evaluation methods • A hypothetical example Biography: Rawdon Seager is a reservoir engineer with over 50 years’ experience in the international oil and gas arena with Shell, Huffco and, since 1985, Gaffney, Cline & Associates, where he is Chief Reservoir Engineer and Global Director of Quality Assurance. He is currently ivolved in CCS studies and application of the SRMS. He has a BSc in Physics from Bristol University and an MSc in Petroleum Engineering from Imperial College, London. Rawdon is past Chairman of the SPE Oil and Gas Reserves Committee and past member of the Board and current Chair of the Reserves Definitions Committee of the SPEE. Cost (for registration in advance): Members $35 / Non-members $50 / Students-retired-unemployed $25 Please register through this website so we record your name and email address. We only receive payment by Paynow or bank transfer. IMPORTANT: You will need to make a payment in advance. Please pay by Paynow to WCW at 8337 4173. Remember to indicate your name in the reference. Official receipt will be sent to your email after the event. Payment at the door is $75 for everyone. See you soon! Please feel free to contact Arinta via WhatsApp or email for any questions or clarification. Contact details below.

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Recent Trends in Oil & Gas Project Performance

Independent Project Analysis (IPA) has been looking into how the global oil & gas projects are typically performing in recent years and the key challenges they face. This paper offers an examination of project performance, emphasizing the major factors and obstacles influencing the effective implementation of capital projects. At the same time, the ever-evolving and multifaceted world economy has experienced a surge in infrastructure development, technological advancements, sustainability related efforts, and innovation-driven initiatives in recent times. Nonetheless, the achieving favourable outcomes in capital projects remains a source of concern, given the various factors influencing their success. This study seeks to explore the various dimensions of project planning and its repercussions on project outcomes globally. Additionally, it delves into industry best practices aimed at mitigating the prevalence of unsatisfactory project results. SPEAKER : Manoj Prabhakar Company/Institution : Independent Project Analysis (IPA) Inc Education : PhD, MBA Bio : Manoj joined IPA in 2011 and currently serves as Director (Singapore), to look after clients in Asia. During his time at IPA, he has conducted over two hundred risk evaluations of Oil & Gas, petrochemical, power, renewable and construction projects in the Asia-Pacific region and globally for various clients, including national oil companies, super majors, and independents. Prior to IPA, Manoj performed six years of post-graduate academic research in the geological sciences and has performed a decade of technical consulting activities related to oil & gas industries with major international and national oil companies in the Asia-Australia region. Gathering around 6PM, delicious Italian food and networking Talk 6:45PM - 7:15PM Q&A and further networking till 8:30PM Cost (for registration in advance): Members $35 / Non-members $50 / Students-retired-unemployed $25 Please register through this website so we record your name and email address. We only receive payment by Paynow or bank transfer. IMPORTANT: You will need to make a payment in advance. Please pay by Paynow to WCW at 8337 4173. Remember to indicate your name in the reference. Official receipt will be sent to your email after the event. Payment at the door is $75 for everyone. See you soon! Please feel free to contact Arinta via WhatsApp or email for any questions or clarification. Contact details below.

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Lunch and Learn - Geothermal Power

Will Pettitt, PhD (he/him) Dr. Will Pettitt is the Global Discipline Lead for Geothermal Energy at Baker Hughes . Will helps position this international energy technology company as a market leader in the Energy Transition , helping develop and execute the organization’s vision for taking geothermal energy forward . Dr. Pettitt is a thought leader on develop ing and deploy ing the use of Earth’s heat . Before joining Baker Hughes , W ill was Executive Director of Geothermal Rising, the largest nonprofit professional and trade association for geothermal energy worldwide , and previously led geomechanics and microseismics consulting , software, and research companies . He p ublishes and speaks on a wide range of topics and participates in government and organizational committees. Dr. Pettitt is an applied geophysicist with a B.Sc. and a Ph.D. Geothermal Energy: New Markets and Technologies Geothermal technologies offer a clean, always-on, renewable energy source that can replace traditional forms of baseload and dispatchable electricity generation and provide direct heat for commercial and residential uses. Conventional hydrothermal heat and power has been a successful, yet niche, technology restricted in geographical area. Unconventional technologies offer the opportunity to scale to geothermal anywhere with Enhanced Geothermal Systems (EGS) expanding to widespread utility-size electricity generation and heat production , and Advanced Geothermal Systems (AGS) taking advantage of existing and under-utilized infrastructure. Lithium co-production from geothermal brines offers the exciting prospect of creating an entire clean-energy ecosystem around critical mineral recovery and battery production. In this presentation we will explore these new markets and technologies and look towards their future direction. Please register in advance by email to paulinasvoboda@gaffneycline.com. Slots are limited. You may also express your interest for a meeting with the speaker Monday 16 or Tuesday 17th of September 2024.

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CO2 Storage Resource Management System – Application and Learnings from World’s First Booking

Carbon capture, utilization, and storage (CCUS) is experiencing rapid growth and the ability to classify and compare projects across the globe is of increasing importance. The CO2 Storage Resources Management System (SRMS) has been designed to provide the common framework and is increasingly being applied across the industry. The SRMS has been seeded from the widely used Petroleum Resources Management System (PRMS), which makes it ideal for industry professionals familiar with the concepts of classification and categorization. The SRMS was applied to an onshore project by an Australian oil and gas company in 2021 and led to the world’s first public reporting of CO2 storage quantities under the SRMS classification system. Standard reserves workflows and systems were modified for CO2 evaluation and reporting, resulting in a streamlined processes throughout the organization. Multiple benefits were realized such as standardized evaluation and reporting, a unified language across the company, and enhanced formality in CCUS reporting. As more CCUS projects are proposed, a robust classification system has become vital to communicate consistent terminology, valuation methodologies, and reporting systems for identifying project status and differential between projects. The application of the SRMS is highly recommended for stakeholders, financiers, or regulatory bodies involved in the commercial development of a CCUS project. Biography: Paul Lyford is the Reserves and Resources Manager at Santos Ltd, an Australian oil and gas company and the first to add CO2 Storage resources to the annual reserves report. Paul has over 30 years experience and has been involved in many field developments across Australia. He has a background in reservoir engineering, operations, planning, strategy and commercial. He is a Fellow of the Institution of Engineers Australia, a member of Society of Petroleum Engineers (SPE) and member of Society of Petroleum Evaluation engineers (SPEE). Paul holds an honors degree and PhD in Engineering from University of Melbourne and post graduate qualifications in Finance. Paul is currently a member of the SPE CO2 Storage Resources Committee (CSRC) and involved with the SPE SRMS subcommittee charged with updating the SRMS. Gathering around 6PM, delicious Italian food and networking Talk 6:45PM - 7:15PM Q&A and further networking till 8:30PM Cost (for registration in advance): Members $35 / Non-members $50 / Students-retired-unemployed $25 Please register through this website so we record your name and email address. We only receive payment by Paynow or bank transfer. IMPORTANT: You will need to make a payment in advance. Please pay by Paynow to WCW at 8337 4173. Remember to indicate your name in the reference. Official receipt will be sent to your email after the event. Payment at the door is $75 for everyone. See you soon! Please feel free to contact us via WhatsApp or email for any questions or clarification. Contact details below. SPE Distinguished Lecturer: Paul Lyford , Reserves and Resources Manager at Santos Ltd

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End of Year Party

Collaborating with AEIN (Association of International Energy Negotiators), we will hold an End of Year Party jointly organized by the AIEN and SPE Singapore on Thursday, 12 December, 6 pm – 9 pm, at Dallas Restaurant and Bar (Level 3), 31 Boat Quay. This event is complimentary for SPE Singapore Chapter members, though pre-registration and verification against the membership list are necessary. Take this opportunity to network with fellow energy professionals, share insights, and grow your connections while enjoying year-end refreshments and light bites. Event Title: AIEN & SPE Year-End Social Event • Includes an opening presentation (information below) and a networking reception • The networking reception will have food and drinks available Opening Presentation: "Asia Pacific's E&P Sector: the Year Past and the Year Ahead" by Andrew Harwood • What were the key events and deals across Asia Pacific’s upstream sector in 2024? • How are the macro industry trends influencing strategies in Asia Pacific? • What to look out for in 2025 - where’s hot, and where’s not? Name: Andrew Hardwood Organization: Wood Mackenzie Title: Vice President, Corporate Research Bio: Andrew is responsible for Wood Mackenzie’s corporate coverage in Asia Pacific, providing analysis of the leading Asia-headquartered national and international oil companies. In addition to developing research content, providing insight and analysis, he advises clients on strategy and supports business development with key regional and global accounts. During more than 15 years with Wood Mackenzie, Andrew has also provided consulting support for clients on fiscal benchmarking, growth opportunity screening, portfolio valuation, infrastructure studies and industry advocacy. Based in Singapore since 2010, Andrew specializes in global upstream themes, corporate strategy for national and international oil companies, merger and acquisition trends, exploration performance and fiscal benchmarking. Non members may join with a fee (50$, 25$ for students)

Distinguished Lecture: No Longer A Sunk Cost: Innovation & Collaboration For Decommissioning Subsea

No Longer A Sunk Cost: Innovation & Collaboration For Decommissioning Subsea Infrastructure Andrew Robson Watt Woodside Energy Abstract: Decommissioning involves the timely, safe, and environmentally responsible removal, or satisfactorily dealing with, infrastructure from offshore oil and gas operations. With a significant number of aging subsea assets, it’s estimated the cost of decommissioning in Australia alone will exceed US$45 billion over the next 50 years. Not unlike a Rubik's cube, decommissioning can seem like an unsolvable puzzle. Many sides must work together to solve a complex problem with a multitude of variables including environmental impact, safety, timing, and cost. Many decommissioned materials cannot be re-used and are not easily recycled. Collaboration and innovation are vital to help us find the right combination of solutions to achieve the best outcomes. Universities play a crucial role in this process by providing access to cutting-edge research, knowledge, and resources. These collaborations can create an environment that fosters innovation, where academia and industry professionals can work together to share knowledge and expertise and explore new technologies and methodologies. This lecture highlights the subsea oil and gas infrastructure decommissioning challenges we face as an industry, showcases some innovative solutions, and explains how in today's rapidly changing world, innovation and collaboration are essential for achieving success. The key takeaway is that we must solve this puzzle together. By working collaboratively, we can create a more sustainable future, reduce costs, and achieve more efficient decommissioning. Like solving a Rubik's cube, cooperation, collaboration, and innovation require patience and persistence, but the rewards can be great, and our subsea infrastructure will no longer be a sunk cost. Biography: Andy Watt is an energy industry professional with over 26 years of experience in various technical roles across Australasia, North Africa, the Middle East, and Indonesia. He has expertise in land seismic operations, geophysics, reservoir engineering, forecasting, production optimization, technology, and innovation. Currently, Andy serves as the Innovation Advisor at Woodside Energy, Australia's largest oil and gas company. In this role, he collaborates with Australian universities and industries to develop and implement innovative technical solutions. Andy holds a Bachelor of Science (BSc) in Applied Physics and Microelectronics and is an active member of the Society of Petroleum Engineers (SPE). Gathering around 6PM, delicious Italian food and networking Talk 6:45PM - 7:15PM Q&A and further networking till 8:30PM Cost (for registration in advance): Members $35 / Non-members $50 / Students-retired-unemployed $25 Please register through this website so we record your name and email address. We only receive payment by Paynow or bank transfer. IMPORTANT: You will need to make a payment in advance. Please pay by Paynow to WCW at 8337 4173. Remember to indicate your name in the reference. Official receipt will be sent to your email after the event. Payment at the door is $75 for everyone. See you soon! Please feel free to contact us via WhatsApp or email for any questions or clarification.

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Distinguished Lecture: Economic Surprises of Late-Life Production

Economic Surprises of Late-Life Production Dwayne Purvis, P.E. Purvis Energy Advisors Abstract: For years, decommissioning costs were an after-thought to decision-making. They did not affect cash flows or business plans, and sometimes reserve reports did not even include them. Now, many legacy fields both within the U.S. and globally are declining to their final life stage. Even with many producing years remaining and a positive net present value, the total future cash flow can be – surprisingly – negative. Operators may not be ready for the unexpected reality since our industry has spent too little forethought on quantifying the scope of decommissioning, estimating its costs, ensuring security for the long term, and especially preparing funds for the surprisingly early onset of those costs. Though the price boom of recent decades delayed and distracted from the inevitable, natural depletion and the outlook for declining oil demand bring the issue to front. Now the industry finds itself with insufficient nomenclature, knowledge, or practices to handle decommissioning well. This presentation explains the unexpected late-life economic dynamics, the dangers they create, and how to foresee and avoid financial and environmental traps. Biography: Dwayne Purvis, P.E. has spent nearly 30 years in reservoir engineering and executive leadership as a consultant and operator. He has led or participated in hundreds of engineering and strategic studies over dozens of basins in the United States and abroad. Mr. Purvis leads Purvis Energy Advisors, and he frequently teaches, speaks, and writes for industry organizations and for Texas Christian University. Dwayne is a registered professional engineer in the state of Texas, member of SPEE, AAPG, SEG, SIPES and an active, 25-year member of SPE. He has also recently completed a Master of Arts in sustainable energy at Johns Hopkins University. Gathering around 6PM, delicious Italian food and networking Talk 6:45PM - 7:15PM Q&A and further networking till 8:30PM Cost (for registration in advance): Members $35 / Non-members $50 / Students-retired-unemployed $25 Please register through this website so we record your name and email address. We only receive payment by Paynow or bank transfer. IMPORTANT: You will need to make a payment in advance. Please pay by Paynow to WCW at 8337 4173. Remember to indicate your name in the reference. Official receipt will be sent to your email after the event. Payment at the door is $75 for everyone. See you soon! Please feel free to contact us via WhatsApp or email for any questions or clarification.

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