Extraction Technology - Thematic Research

Extraction Technology - Thematic Research

Summary

Oil and Gas, along with Coal, have been the world’s biggest energy sources for more than a century. Their production is fundamental to human wellbeing as well as enabling technological and socioeconomic progress. Ever since chemists discovered the process to synthesize kerosene from crude oil, hydrocarbon production and processing has played an important role in transforming the lives of people worldwide. The growing demand for energy worldwide and continued reliance on oil and gas is boosting the market for extraction technologies.

The process of Oil and Gas extraction largely revolves around the technologies essential for bringing Oil to the surface.Extraction technologies encompass multiple stages of operations, including boring, circulation, casing, well completion, production, and lastly, well abandonment. These technologies vary depending upon the type of terrain in which the reserves are located, leading Oil and Gas companies to develop newer ways to produce hydrocarbons economically. The development of advanced drilling techniques, including horizontal drilling and multi-stage drilling, is reducing the time it takes to drill new wells while also enabling production from reserves that were previously deemed to be inaccessible, as with the extraction of Oil and Gas from shale formations.

Adoption of high-performance computing for analyzing large data sets in real-time is improving the efficiency of the production process and allowing producers to reduce costs. Robotics and Artificial Intelligence (AI) technology are further enhancing the on-field productivity of production platforms while also improving the safety of workers and equipment.

Enhanced Oil Recovery (EOR) techniques are also playing a vital role in oil and gas extraction, as they greatly improve the recovery rate from mature fields, thereby further extending their economic value. The scope of EOR is gradually increasing as these techniques are now being considered during the field development phase itself to further enhance the performance of new fields.

As oil and gas production from many of the easily accessible reserves at onshore and continental shelves is reaching its peak, oil and gas companies are drilling deeper wells and venturing into deepwater in search of newer hydrocarbon reserves. This is further adding to the need to develop innovative extraction technologies that would enable oil and gas production that is both profitable and has a negligible impact on the surrounding environment.

Scope

• The report analyses the impact of extraction technology as a theme on the oil & gas industry.


• The report discusses how oil and gas industry is benefiting from advancements in drilling technologies that is enabling hydrocarbon production from previously inaccessible reserves


• The report analyses how oil and gas companies are continuously developing extraction technologies to optimize production


• The report further shows how improvements in extraction technologies are translating into greater economic returns for countries and market participants.

Reasons to buy

• To understand the major trends in the global oil and gas extracting technology industry.


• It provides an industry analysis, explaining the development of extraction technologies across different regions around the world


• the report explores the value chain for extraction technologies within the oil and gas industry


• It highlights some of the key companies in the extraction technology theme.