Offshore Technology Conference
- June 2008
Ziff Energy CEO, Paul Ziff was invited to speak on the Active Arena panel at this year’s Offshore Technology Conference, held in Houston in May. Paul’s presentation focused on an Overview of Worldwide Oil
Supply & the Growing Role of Angola. Angola’s growth is driven by Deepwater and Ultra-Deepwater operations, displaying an enviable
success rate. By 2020 Angola’s oil production will be double 2005 – an impressive accomplishment.
In the world context, Paul discussed the many challenges to world
oil supply, including political and fiscal instability, high current cost inflation, labor/manpower (with the ‘Big Crew Change’ associated with ‘baby boom’ retirements), Technology (especially Deepwater & North), climate change, field maturity, and operating efficiency/uptime. In spite of these challenges, Paul’s speech ended on a positive note with 2020 world liquids supply up 20% from the 2005 level – to 104 MMBbl/d. Angola will, as a Deepwater leader, provide 5% of the world’s growth.