CTCE Baku Review

Caspian Annual Technical Conference and Exhibition of the SPE (Society of Petroleum Engineers) after three intense days successfully completed in Baku, Azerbaijan. More than 550 oil and gas professionals from 21 countries attended the event.

Delegates from 78 countries from around the world, including Azerbaijan, Russia, Kazakhstan, Turkmenistan, and many other countries outside the Caspian region. The event was attended by key players in the oil and gas industry, including companies such as SOCAR, BP, Total, Statoil, ExxonMobil, Tengizchevroil, JSC NC KazMunayGaz, Dragon Oil, Petronas, INPEX, Gazprom Neft PJSC, Novatek, Resman, Roxar, Goldman Sachs, lukoil, Schlumberger, Halliburton, Baker Hughes and many others.

First Vice-President of SOCAR Khoshbakht Yusifzade commented: «SOCAR for the second time and am happy to support associated with the annual Caspian Technical Conference and Exhibition SPE. We have actively participated in this unique and all-encompassing event where in one place there are all the technical oil and gas of Azerbaijan community (SPE, SEG, EAGE), exchange of technological ideas and etomkolichestvo international visitors is growing. With the participation of high-level speakers, delegates and technical writers from around the world, including the Caspian countries Azerbaijan, Kazakhstan, Turkmenistan and Russia, this event is now present Caspian Regional Conference at the international level.”

On the last day of cooperation and the overall theme of the conference final high-level panel discussion was devoted posed by participants. Bahram Huseynov spoke moderator, vice-president on geology and geophysics, of SOCAR, as experts: Ali Al-Jarvan, CEO of Dragon Oil; Mustafa Babanly, rector of the Azerbaijan State University of Oil and Industry; Evan Drummond, vice-president of BP on projects in Azerbaijan, Georgia and Turkey; Martin Viverovski, senior vice president and DeGolyer & McNaughton Heydar Mammadov, senior analyst at Goldman Sachs.

Aija Dzhusupbekova, regional director of the SPE – Russia and the Caspian region, commented: “The 4th Caspian Technical Conference and Exhibition has shown that even for a long period of low oil prices, the companies were able to adapt and continue to effectively develop oil and gas fields. During the panel discussion, it was discussed that didzhitalizatsiya and localization industry play a vital role in increasing the efficiency of oil and gas development. Exchange of experiences and ideas that takes place at the conference promotes cooperation in the oil and gas industry to a more sustainable energy production.”

In their speeches, the speakers shared their diverse experience from the beginning to the end of the production cycle, education, advice and funding. There was general agreement on the fact that these components provide the best cooperation and timely delivery of projects within budget and without any issues relating to security;

– Prior to the detailed project planning of the project, including work with the contractor
– Integrated team with a clear understanding of responsibility and delivery scheme
– Flexibility and willingness to change and adapt the project plan, if you have problems, while respecting the original terms of the contract.

The strategic need for cooperation within the industry, will enable oil and gas companies improve business results by combining innovative solutions together.

Denis Lemarshal, Managing Director for Azerbaijan TOTAL E & P, said that the three panels were extremely interesting and of excellent quality. “We have achieved all our goals and decide all the questions that they wanted. I feel that the “golden time” for our industry behind us, and therefore we are in a different stage, and because of that we need to move forward and work differently. The future of the oil and gas industry positively,” said Grégory Lemarchal.

To date, countries of the Caspian region are actively developing local production and supply chain. The stabilization of oil prices and the global growth of consumption is a cause for optimism about the future of oil and gas industry. Since the fuel and energy sector is traditionally capital-intensive, the introduction of new technologies and approaches to minimize the capital cost is becoming increasingly important for oil and gas companies interested in maximizing profit.

Society of Petroleum Engineers SPE would like to thank SOCAR – the host organization this year, a platinum sponsor of the event – BP and sponsors; Chevron, Dragon Oil, Exxon Mobil, TCO, Total, Baker Hughes, Schlumberger, Halliburton, Roxar, Statoil, DeGolyer and MacNaughton, Caspian Geophysical, and Nobel Upstream.
Next Caspian Technical Conference and Exhibition held in November 2018 in Kazakhstan. Any questions about the event in 2017 and 2018 (including sponsorship and exhibition opportunities) can be directed to Phil Chandler, Senior Manager of Sales and Business Development in the SPE ( pchandler@spe.org ).