Additionally, technology as the key driver is discussed in detail. Some major trends observed in the development of technology are briefly discussed, and key solutions such as digital oilfields, integrated asset management, intelligent well development, and integrity management knowledge are presented.
- Over the past few decades, best-in-class operational performance has been value addition over gaining access to new fields and delivering development projects for upstream operations.
- Today’s demanding economic environment for oil and gas (O&G) operators means better operational performance (not only in production volumes but in production cost) and will play a significant role in determining long-term business success.
- Exploration and production (E&P) companies witnessed remarkable transformation as the role of the once mighty international oil companies (IOC) comes under siege from growing national oil companies (NOC) and as oilfield services companies that were partners have now become competitors.
- Key Findings
3. Industry Challenges
- O&G-A Major Source for Primary Energy Mix
- Reality of Peak Oil-The Age of Unconventional Oil
- Challenges and Risks for the E&P Industry
- Unconventional O&G Cost Imperative for Production Cost Escalations
- Technology-Key Differentiator
- Technology Dependency-On Processes and People
- Market Challenges-Enabling Technologies and Required Solutions
- Enabling Technologies for the O&G Industry
- Future Thrust Areas for Solutions Development to Counter Business Challenges
- DOF-Collaborative Ecosystem for O&G Operational Excellence
- Integrated Asset Management-An Holistic View of the Business Portfolio
- Development in Intelligent Wells to Increase Production Efficiency
- Operational Integrity Imperatives for Solution Development
- Unified Communication Architecture for Collaborative Communication
- The Knowledge Management Imperative for the O&G Industry
- Strategic Conclusions
- Legal Disclaimer