18 Congress at a Critical Time for Petroleum Dr. E.M.Q. Røren WPC President Oslo SPE 6th Sept.2005

What is the World Petroleum Council (WPC)? International organisation Secretariat in London Established in years young 62 national member countries OPEC and Non-OPEC members Congress is held every three years – delegates and up to 90 countries involved Regional meetings /work shops in between

WPC Member Countries Algeria Angola Argentina Australia Austria Belgium Bolivia Brazil Canada China Colombia Croatia Cuba Czech Republic Denmark Egypt Finland France Gabon Germany Hungary India Indonesia Iran Israel Kazakhstan Korea Kuwait Libya Lithuania Mexico Mozambique Netherlands Nigeria Norway Pakistan Papua New Guinea Peru Philippines Poland Qatar Romania Russia Saudi Arabia Serbia Slovenia South Africa Spain Sweden Turkey UK Ukraine Uruguay USA Uzbekistan Venezuela Vietnam

Representing World Oil Production>90% World Oil Consumption>90% World Gas Production>90% World Gas Consumption>90% WPC Membership

Purpose of WPC: To promote the management of the world’s petroleum resources for the benefit of mankind. It aims to encourage the application of scientific and technological advances and the study of economic, financial, managerial, environmental and social issues relating to the petroleum industry.

History of WPC Congresses Johannesburg 2002 – Rio 2000 – Calgary 1997 – Beijing 1994 – Stavanger 1991 – Buenos Aires 1987 – Houston 1983 – London 1979 – Bucharest 1975 – Tokyo 1971 – Moscow 1967 – Mexico 1963 – Frankfurt 1959 – New York 1955 – Rome 1951 – The Hague 1937 – Paris 1933 – London

Congress Theme Shaping the Energy Future: Partners in Sustainable Solutions This theme reflects the continuing efforts of the petroleum industry to meet consumers growing demand for cleaner, reliable and efficient energy supply. It also recognizes that in addressing the challenges of the future, the petroleum industry must continue to take action in partnership with its key stakeholders as they jointly seek solutions that are consistent with the principles of sustainability: affordable, environmentally sound and socially acceptable.

International Petroleum Industry Environmental Conservation Association (IPIECA) United Nations – UNEP, UNFCC,UNECE World Energy Council (WEC) International Union of producers and distributors of electrical energy (UNIPEDE) The Uranium Institute (UI) World Coal Institute (WCI) Forum and International Chamber of Commerce (ICC) International Gas Union (IGU) International Association of Energy Economists (IAEE) Organisation for Petroleum Exporting Countries (OPEC) International Energy Agency (IEA) Oil and Gas Producers Association (OGP) Liaison with other organisations

18th Structure Block 1: Upstream Block 2: Downstream and Petrochemicals Block 3:Natural Gas and Renewables Block 4: Managing the Industry Africa Session Special Roundtable Sessions Country Presentations Lunches

Blocks Plenary addresses CEO-level Roundtables Review and Forecast Papers(RFP) Forums (F) Poster Sessions

Africa Session Key topics relevant to the industry in the African continent E&P Infrastructure and refining Resources and reserves Corporate Governance

Special Roundtable Sessions Recruiting and retaining young people Global impact of intl. E&P standards Revenue transparency initiatives Climate change initiatives Distribution and transporation of gas Role of service providers Reserves and Resources (SPE/WPC/AAPG/UNFC)

Luncheons WPC Excellence Awards 26th (tech.&soc.) Social Responsibility 27th OPEC/IEA 28th Africa 29th.

Totals About 320 papers About 500 speakers and panel members Key people from the industry and orgs. Dewhurst lecture: Lord John Browne Two plenaries from Norway: Eivind Reiten and Øystein Dahle One RFP Norway: Prof. Anders Holmen One RTB Norway: Sigurd Heiberg, Stl

Social Opening : President Mbeki.25th Sept. Africa Night 27th Closing 29th. Tours.

History Nuclear Oil Trad. renewables Coal Gas Hydro 12 0 Gtoe

Reserves

Future

Increased Exploitation of oil and gas

New applications of oil and gas

Carbon dioxide Sequestration

No Footprint – improving environ. quality Be Good global citizens EconomicSocialEnvironmental

Gradual transition to other energy sources

Carbon Hydro- Carbon Hydrogen CO2-Emissions Supply and demand – social scientists/economists/environmentali sts Laws of thermodynamics - scientists Life Cycle Analysis

The Petroleum Industry (as part of WPC) is: Developing solutions and responses that are socially, economically and environmentally acceptable, by: Developing partnerships with UN bodies, global organisations (OPEC,IEA)and other industry associations (IGU,SPE,WEC,IPIECA) Searching for cost effective solutions based on sound science and technology, and Conducting consultations with key stakeholders

Social Concerns. Sustainability. “Meeting the needs of the present generation without compromising the ability of future generations to meet their own needs.” Gro Harlem Brundtland

Business concerns. A sustainable company is one that will last; that has embraced sustainable development Sustainable business: one that enhances long-term shareholder value by addressing the needs of all relevant stakeholders and adding economic, environmental and social value through its core business functions.

Conclusions The cold war is history, but the world is uneasy For business, there are financial, environmental and social pressures Limits on what the industry can do, or ought to do Petroleum is very central to cover energy needs Science and technology has been, and will remain essential to future progress The future is more oil and gas, but with cleaner production, processes, products and usage. The future is also more energy efficiency