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Helge Haldorsen: Change the business or we won’t be viable

As the E&P industry navigates through the challenges of prolonged low oil prices, Statoil Mexico General Director Helge Hove Haldorsen is urging companies to look for efficiency gains through innovation rather than mere cost reductions. “We cannot cost-cut our way to greatness,” he said at the 2016 SPE/ICoTA Coiled Tubing & Well Intervention Conference in Houston on 22 March.

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PPSA director urges fast action to make pre-salt competitive on world stage

As the PPSA looks to the future of pre-salt projects in Brazil, the group realizes that the long-term challenge is not simply to make pre-salt economically feasible. The challenge is to make it competitive against other sources of energy – from shales in North America to deepwater in West Africa and even to renewables. “There was a ten-fold reduction in the cost of solar power in the last 10 years, and more reductions will still come. New technologies are coming, so we are competing against all of those things,” Edson Nakagawa, PPSA Operation Director, said at the 2016 IADC International Deepwater Drilling Conference in Rio de Janeiro on 15 March.

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Lorenzatto: Down market gives Petrobras opportunity to rethink its business

Cost reductions and investment pullbacks have become par for the course in the current low-price environment. For Petrobras, this has meant having to adjust its portfolio in order to “do more with less,” Rudimar Lorenzatto, E&P Executive Manager, said at the 2016 IADC International Deepwater Drilling Conference on 15 March in Rio de Janeiro.

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