ARPEL participated in the International Conference & Exhibition (ICE 2019) organized by the American Association of Petroleum Geologists (AAPG), which was held August 27-30 in Buenos Aires, Argentina.

Mr. Carlos Colo, Chairman of the Board of Directors of ARPEL, was the General Chair of the Organizing Committee of the event. The Executive Secretary of ARPEL, Mr. Izeusse Braga, and the Upstream Director, Mr. Miguel Moyano, also attended the event.

In addition to a booth in the Exhibition Area, in the session on Mature Fields, the Association presented the White Paper "Systemic Approach to Improve Recovery Factors of Oil Resources.” It aims to share options to improve the recovery factors of mature oil reservoirs in a systemic way with various stakeholders.

As noted by Mr. Moyano in his presentation, in 2017, mature fields accounted for approximately 70 % of world oil production; therefore, there is an enormous potential to increase the recovery of currently producing fields.

At the global level, it is estimated that for every 1 % increase in oil recovery from currently operating mature fields, two years could be added to the global supply of oil and gas, and help meet future energy demands.

The average recovery factor in oil reservoirs is approximately 30 %; this percentage can be increased up to 40-60 %.

“Thus, the industry and states, owners of the hydrocarbon resources, have the challenge and the opportunity to work together to make the necessary investments and meet this growing energy demand in a manner consistent with sustainable development,” Mr. Moyano highlighted in his presentation based on the contents of the report.

Link to download the document: https://arpel.org/library/publication/516/