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FONCK, JEAN-MICHEL,V.P. Exploration & Reservoir,Total

Abstract: Success in the 90's, a Platform for Further Success in the 21st Century

In spite of the recent backlash induced by the depressed oil prices, the upstream sector of our industry has undoubtedly enjoyed a period of remarkable growth during the 90's. Success has been fueled, among others, by the coming of age of technologies first tested in the field more than 20 years ago. The past being a key to the future, we may predict that some of today's emergent technologies will fuel more sustained growth in the coming century. Harnessing powerful technology and applying it to a varied portfolio of opportunities will definitely remain, as in the recent past, key to further success. Opportunities will continue to abound, but profitability will certainly not come as easily as previously expected when oil prices were expected to rise inexorably. Risk management will spread to all the elements of the value chain and become a buzzword in a world of volatile oil prices. Finally, technology will remain ineffective in the hands of inexperienced individuals: ultimately, success will be about excellence in the core competencies.

AAPG Search and Discovery Article #[email protected] International Conference and Exhibition, Birmingham, England