In a scenario of rising technology companies, the hydrocarbon industry also maintains a strong footing in technology. Knabe thinks as well that the substantial energy requirements per unit of Gross Domestic Product will not disappear.
Vesna Marinkovic U. (*)
1Considering the growing strengthen of technology companies such as Apple, Amazon and Microsoft, which are focused on data processing, is the importance of major companies in the energy sector in the global economy decreasing?
2Any possibility that information could become the commodity of the future instead oil?
3In companies like Halliburton, is there a strategy to strengthen service lines that, without neglecting the main energy business, focus directly on the interpretation, optimization, modeling and forecasting of data (i.e. data analytics / machine learning), which are obtained in the execution of your services to add greater added value to your management?
4Is it possible that companies serving the hydrocarbon industry can contribute to a technological revolution that allows us to continue using fossil fuels in a more sustainable way?
In addition to the research and development of advanced metallurgy and cements for carbon dioxide injection wells, we have developed software to model CO2 injection in saline aquifers or depleted gas fields.
This software facilitates the practical design of permanent storage projects for CO2, for example the analysis the possible injection flow rates in the reservoir, the injection pressure limitations to be observed to protect the cap rock, and the diffusion of CO2 in the reservoir over the course of time.
Moreover, we have developed technologies such as the use of fiber optics adapted to difficult conditions in injection and production wells. The information collected based on this technology provides an effective way to monitor pressure, temperature and tension conditions in wells and in the reservoir.
6What do you think is the effect that the pandemic has on the worldview of people on climate change, the challenges of sustainability, and efficient energy management?
People in various cities around the world recognize the significant reduction in air pollution thanks to the lower traffic density. Possibly an effect of the pandemic will be that people demand from their politicians that this improvement in the environment continue, resulting in less use of fuels such as coal and high sulfur fuels.
Similarly, the discovery that working from home works fairly well for various professions could cause a permanent reduction in the use of gasoline and diesel, increasing efficient energy management.
7How do you think of the situation in the hydrocarbon industry in general during the COVID-19 pandemic? Many layoffs?
The COVID-19 pandemic, coupled with the recent “price war” in the oil industry, have significantly reduced activity across the industry, be it exploration, production, refining or distribution.
Unfortunately, one result has been substantial layoffs and early retirements.
However, the cyclical nature of the industry provides hope for new hires if oil and natural gas prices recover. The trend mentioned before of “digitizing” the hydrocarbon industry also opens the door to the hiring of new personnel.
8The outlook for the sector post COVID-19 is optimistic or negative?
In many ways it is optimistic, especially for natural gas, an abundant resource in Bolivia frequently designated as a “transition fuel.”
Natural gas by the nature of its combustion is cleaner than other fuels. Furthermore, the use of natural gas in applications such as power generation lends itself to CO2 recovery at a cost that some countries and companies should be able to tolerate to minimize their carbon footprints.
“Furthermore, the use of natural gas in applications such as power generation lends itself to CO2 recovery at a cost that some countries and companies should be able to tolerate to minimize their carbon footprints”
(*) Traduction by Steve P. Knabe.
Steven P. Knabe is Halliburton Consulting Director . He is an experienced oil & gas technical manager, with work experience in service companies and major oil and gas operators, he has worked in large oil & gas development projects around the world, in areas such as: drilling, completions, stimulation, well and reservoir evaluation; development plans; enhanced oil recovery projects; and innovative digital solutions for well and reservoir management. He has a B.Sc. in petroleum engineering from Sandford University, and an MBA from Harvard Business School. He is an active member of the Society of Petroleum Engineers (SPE) and holds a license as a professional Engineer in the State of Texas.