1. WHAT KIND OF CHALLENGES Mogens Zoll Hundahl Esbjerg, 19 th August 2014

2. Agenda 2 1.Who am I? 2.Why the concern? 3.What are the challenges? 4.What is needed?

3. Who am I? 3 Name:Mogens Zoll Hundahl Age:53 years Education:BSc Chemical Engineering; Esbjerg 1988 Mogens.Hundahl@atkinsglobal.com

4. Why the concern? 4 Threats 1.Financial 1. Reduced production 2. Ageing assets 2.Safety 1. ”Old” technology 2. Ageing assets 3.Environment 1. Increased awareness 2. Ageing assets

5. What are the challenges? 5 Reduced reservoir pressure Reduced oil/gas production Reduced lifetime of assets

6. What are the challenges? 6 Increased water production Increased cost of operation (OPEX) Maintenance Manning Lifetime extension

7. Reduced production 7

8. 8

9. Lifetime 9 Typical North Sea design Designed1980 Design life25 years First production1982 End of life2007

10. Oil price 10

11. Lifting cost 11

12. What is next? 12 Produce more of the oil in place New technology EOR

13. 13 Questions?

14. Thank you for your attention Mogens.Hundahl@Atkinsglobal.com 14