The IADC World Drilling 2024 Conference & Exhibition took place 18-19 June in Madrid, Spain. There were around 500 attendees representing drilling contractors, operators, service companies, and training providers that joined us for two days of top-tier presentations and networking opportunities. Professionals from around the world gathered to explore the drilling industry’s challenges and opportunities from a strategic, leadership perspective.
Each year, the Exemplary Service Awards are presented at World Drilling to recognize individuals for their outstanding contributions to IADC and the drilling industry. Congratulations to Lamberto Nonno, Global HSE Director at Baker Hughes, for winning this year’s Exemplary Service Award! Lamberto’s leadership and contributions to the conference program committees for IADC World Drilling and IADC HSE&T Europe conferences have greatly enhanced the value of these programs that provide important education and networking opportunities for IADC Members and their guests.
Lamberto commented,
“This award is a testimony to the commitment that IADC has in operating as a lighthouse for our industry. And while directed to me as an individual, I believe that this exemplifies our industry culture. The future of the Oil and Gas industry is built on people who, especially in these years of change, are grinding away not only at producing more energy, but doing so in more sustainable, secure, and affordable ways. Many thanks to IADC for allowing me to help the whole industry in delivering the future of energy to the world.”
From left to right: IADC President Jason McFarland pictured with ESA winner Lamberto Nonna and his family
The World Drilling 2024 keynote presentations were delivered by Gary Buyers, Wells Director at Repsol, and Simon Johnson, President & Chief Executive Officer of Seadrill. The conference examined a wide variety of topics, including:
- Market outlook
- Geothermal focused sustainability
- Artificial intelligence and digital solutions
- Automation and robotics
- Workforce attraction and retention
- The industry funding challenge
- Geopolitical risk
- Preparing for the future
- Energy transition
IADC sponsored 11 students to attend the conference, providing them with opportunities to expand their networks and learn more about the industry. Student delegates attended from the IADC Student Chapters at King Fahd University in Saudi Arabia, Universiti Teknologi PETRONAS in Malaysia, and Curtin University in Australia.
Drilling Contractor Interviews from the IADC World Drilling 2024 Conference
Repsol harnesses machine learning to optimize drilling performance
Repsol’s InWell.ai tool was founded on the principles of flexibility, using machine learning for prescriptive analytics, and having a real-time impact to maximize performance. Javier Rey, Drilling Data Management Engineer Sr at Repsol, spoke with DC at the 2024 IADC World Drilling Conference about the development of this tool and how it works, including its various modules for drilling; tripping, reaming and casing; and connections.
Watch the video with Mr Rey to learn more about InWell.ai and how it’s helping Repsol to prevent downtime in its drilling operations.
Rystad Energy says this is the price needed to incentivize oil to meet incremental demand to 2030
There will be a massive need for “new barrels” of oil in the coming years, no matter what kind of oil demand scenarios you consider, whether high case (2.2º) or low case (1.6º), according to Lars Eirik Nicolaisen, Deputy CEO at Rystad Energy.
Speaking at the 2024 IADC World Drilling Conference in Madrid on 18 June, Mr Nicolaisen forecasted that, by 2030 under a base case scenario (1.9º), the world would a need an additional 56 million bbl/day on top of current supply, including the barrels already under development. While it might initially seem that $60 oil would be sufficient to incentivize development of that 56 million bbl/day, he asserted that the actual price needed will be higher.
Organizations must consider risk mitigation as use of AI and generative AI increases in drilling
As the deployment of AI within drilling and rig operations continues to evolve and mature, the addition of generative AI is adding new layers of complexity in terms of ethics, governance and legal risks. For example, misuse, compliance with laws and regulations, and third-party management are all risks that should be considered.
At the 2024 IADC World Drilling Conference on 19 June in Madrid, DC spoke with Malini Manocha, Director – Center of Excellence at Nabors, some potential risk mitigation strategies, as well as considerations when organizations undertake an AI risk assessment.
IADC steps up efforts to help standardize, scale geothermal drilling
With many in the drilling industry looking to geothermal as a key opportunity to help the world in its energy expansion, the IADC Geothermal Committee has been working on a well classification system to guide the development of geothermal wells.
At the 2024 IADC World Drilling Conference on 18 June in Madrid, DC spoke with Committee Chairman Scott Farmer, Helmerich & Payne Well Engineering Manager, about the motivations behind the establishment of the committee in November 2023. Mr Farmer also discusses ongoing efforts to refine the classification system, as well as opportunities for collaboration with other organizations to help advance geothermal drilling.
Thank you to everyone who attended, presented, exhibited, sponsored, and organized this conference!
