At CERAWeek 2021, an annual energy conference that brings together industry leaders from across the globe, many of the sessions were either dedicated to or included conversations about the energy transition and environment, sustainability, and governance (ESG).
Related: Schlumberger’s Energy Transition Insights from CERAWeek 2021
Representing Schlumberger during conference discussions were CEO Olivier Le Peuch, Reservoir Performance President Aparna Raman, CTO Demos Pafitis, and VP of Human Resources Gavin Rennick. You can watch the full videos from each of their sessions below.
New Strategies for a Changing World
Schlumberger CEO Olivier Le Peuch was joined by Petronas President and CEO Tengku Muhammad Taufik for a plenary session hosted by IHS Markit Vice Chairman Daniel Yergin. The session covered various topics, including energy industry outlooks, the impact of digital transformation, and the importance of sustainability and new energy avenues.
Speaking on the industry outlook, Le Peuch noted that COVID-19 vaccine rollouts and the easing of lockdown restrictions are having a positive impact on demand, and that 2019 levels of demand could be seen again by 2022. He also shared his insights on the rebound of the North America Land market, prospects for offshore activity, and signs of growth in international markets.
On the topic of digital transformation, Le Peuch highlighted its impact on Schlumberger and the entire energy industry. Reflecting on 2020 and lessons learned, Le Peuch noted, ”Digital transformation had to be leveraged and accelerated across the industry to unlock performance efficiency.“
The session concluded with the panelists discussing the increased focus on sustainability and new energy in recent years.
”I believe that the opportunity we have as an industry is to participate actively and demonstrate that not only can we produce low-cost energy, but we can also produce low-carbon energy,“ stated Le Peuch.
Discussing Schlumberger’s approach to sustainability, Le Peuch noted two key focus areas: addressing the carbon footprint associated with the organization’s operations, and working closely with energy operators to address their sustainability objectives. Speaking on new energy avenues, Le Peuch highlighted examples in which Schlumberger is leveraging its domain expertise and global footprint to venture into new forms of energy production, such as hydrogen, carbon capture and sequestration, geoenergy, and geothermal.