SPE EVENING PRESENTATION

SPE BRUNEI SECTION

"Energy in the 21st Century: Why Natural Gas and Heavy Oil?"

by Mr. George Stosur from the U.S. Department of Energy

The Brunei Society of Petroleum Engineers will be holding an SPE Evening. Details are as follows:

Date: Tuesday, 21/3/00
Venue: D'Anggerek (Near the National Stadium)
Time: 7.00 p.m.


Tickets (B$10 for members and B$15 for non-members) are available from DRO/1/10 (Hj.Salleh).


Don't miss this excellent opportunity!

Mr. George Stosur from the U.S. Department of Energy will be giving a talk on an interesting subject: "Energy in the 21st Century: Why Natural Gas and Heavy Oil?" Some key features of the talk include:

That the world is running out of oil? Yet, we all realize that oil is a non-renewable resource, and that eventually world oil production will start to decline, as it did thirty years ago in the United States. We also know that the world economies run on oil, particularly the transportation sector -- which assures the ever-increasing demand for transportation fuels beyond the foreseeable future. The world has much more unconventional than conventional resources, mostly as heavy oil, tar sands, gas in ultra-tight formations, coalbed methane, and natural gas hydrates. These were barely scratched in the 20th century, but will see an explosion of activity in the 21st century. Overview of the world's huge resources of heavy oil and tar sands found largely in the Americas that have already seen commercial interest. There are also immeasurable quantities of natural gas locked in very tight formations, coalbeds, and particularly in the currently inaccessible natural gas hydrates. With technology driving the oil and gas production, it is all but certain that many of today's uneconomic processes will become the staple of tomorrow's world economy. Extraordinary progress has already cut the cost of finding and producing conventional oil by 60% in real terms over the past ten
years. Data is from the latest projections by the U.S. Energy Information Administration (EIA), the International Energy Agency (IEA) and selected private sources.Discussion of promising technologies, e.g., direct conversion of (stranded) natural gas to transportation fuels for easy shipment from remote locations to markets. An exciting long-range possibility is technology development for the production of gas from naturally occurring methane hydrates -- an enormous resource that far exceeds the conventional natural gas resource. There is no shortage of liquid hydrocarbons in the foreseeable future.

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