MTS Houston Luncheon

Decommissioning: The $100B Elephant in the Room

Date/Time

Luncheon: 11:30 AM - 1:00 PM

Location

Norris Center
816 Town & Country Blvd, Ste. 210
Houston, TX 77024

Synopsis

As demand for energy worldwide remains strong, oil and gas companies continue to invest in additional production, particularly in the offshore sector. But given the increasing number of aging offshore facilities coupled with calls to transition their energy portfolios, O&G companies are also faced with the challenge of rising decommissioning costs that may stifle growth opportunities. 

These abandonment liabilities are significant, as IHS Market forecasts global offshore decommissioning spending to reach nearly USD100 billion for the 2021-2030 period, up by over 200% compared to the previous ten-year period. 

Extending life of oil and field and enhancing production from existing offshore fields can both address the rising demand for energy as well as general additional revenues to help offset decommissioning costs. 

Steve Louis, SVP of Decommissioning at Promethean Energy, will share how the industry is addressing this growing decommissioning challenge while extending the useful life of our again O&G infrastructure.  

Speaker Bio

Steve Louis is the SVP of Decommissioning at Promethean Energy, an oil and gas company focused on development, production and decommissioning of mature assets. Steve is responsible for all decommissioning operations in the Gulf of Mexico, ensuring the safe, efficient, and environmentally execution of all CoP offshore assets. Steve has over 20 years of experience in the oil and gas industry with both technical and leadership roles spanning the global landscape. 

In his first year at Promethean Steve oversaw decommissioning activities on a number of reversion assets in the Gulf of Mexico.  Steve started his career at Technip as a subsea structural engineer, then Subsea 7 and EMAS AMC where he was Vice President of Engineering. Prior to Promethean, Steve spent 4 years in energy technology consulting with Eternal Energy. Steve holds a B.S. in Civil Engineering from the University of Texas at Austin and an Executive MBA from Rice University. He is also a registered Professional Engineer in the State of Texas.

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