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.