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Special report – The innovatorsTop
2018 is set to be a big year for the oil and gas sector. After a period of stagnation oil and gas prices or once again on the rise and producers are looking to capitalise after the recent difficult times. Nonetheless, cost savings and efficiencies remain at the fore of their business planning. What are set to be the big innovations of the year and how will they help producers remain competitive, regardless of where the market goes? In this special report we talk to some of the industry’s leading lights and ask what they’re doing, and their companies, to support the sector and make 2018 the year of innovation.
GlobalData offers research from its latest survey, looking at procurement and budgetary trends in the offshore oil and gas industry.
Boom or bust? That seems to have been the question for the global oil and gas market over the last few years. But as market volatility seems to have settled, investment opportunities are being sought again. In this special report we look at what caused the uncertainty that gripped the market and how the industry has changed in recent months. We also ask whether stakeholders are now seeing potential, where that is and how they are positioning their businesses and operations to maxmise their growth.
New technology Top
A major consequence of the low oil prices of recent years is that the companies are much leaner – now pushing for more efficiency. Workforce levels have fallen to a third of what they were before the market declined and this reduced headcount has led to a large investment in technology. In this special report we look at how technological advances have aided this push, including assessing the growing use of big data and artificial intelligence.
Safety & securityTop
Carbon capture and storage (CCS) is seen by many as an essential part of the fight against climate change. However, the associated technologies are expensive and have yet to be deployed at the required scale. In this special report we talk to the Carbon Capture and Storage Association (CCSA) about why this technology is so important and the key role played by oil and gas producers.
The increasing number of offshore oil and gas platforms is set to further boost the demand for explosion and fire-proof lighting according to a recent study. There have been a number of major shifts in the types of lighting used in such operations; in part driven by regulations but mostly the result of innovative approaches to design and materials. As well as this, producers are turning increasingly to LED lighting. We speak with Oil & Gas UK’s health, safety and environmental policy director, Nick Borswell.
With an uncertain oil price giving rise to even closer scrutiny of all investment decisions, flow assurance and subsea processing will be a key issue for boardroom decisions in coming months. However, the industry seems to be looking more prosperous than it has for some time according to industry analysts. But there is evidence these decisions will be based on more challenging prospects, the result of the need to search deeper to exploit reserves, which poses additional flow assurance challenges, as we discuss in this special report. What role do consultancies play in assisting with these critical decisions and how important is it to get their involvement?
The data collection throughout the lifecycle of offshore assets can be critical in prolonging their useful life. We talk to Hesham Haleem, senior integrity engineer at Wood Group Kenny, to find out what role this data collection plays and how it is best interpreted.
While oil and gas pipelines generate a high volume of data, deriving insights from that data can be hard. However, operators are now deploying sophisticated analytics solutions to better understand this data, and improve the safety and efficiency of pipelines. We discuss the benefits with TransCanada and look at what is happening elsewhere in the industry.
Dual gradient drilling is developing fast. Once seen as futuristic, it is likely to become the go-to technique as the industry sets its sights on increasingly challenging wells. We talk to Per Cato Berg, advisor managed pressure drilling at Statoil, about the company’s approach to this important technology.
Drilling & well technologyTop
Following the Deepwater Horizon disaster in 2010, many oil companies began to explore their safety practices in greater depth, looking not just at technical issues but also at their workers’ non-technical skill sets. Rhona Flin, professor of Industrial Psychology at Aberdeen Business School, explains how oil companies can benefit from the research underway in the field.
Transport, logistics & storageTop
Floating LNG extraction offers a raft of benefits compared with more traditional extraction platforms, including the ability to access fields that might have previously been difficult and costly. Shell – which is currently commissioning the world’s largest offshore floating facility – is leading the quest for the liquefaction and storage of natural gas at sea, and it’s the storage that is of great interest. Similarly Samsung has recent won a $221 million contract to develop offshore storage facilities. What’s driving this interest and how innovative is it set to be?
With new technology opening up previously inaccessible reserves, the likelihood of oil running out any time soon has receded. Michael Schwartz, executive vice-president and chief marketing officer at Eka, considers how the industry might now address the possibility of peak demand and what might follow in its wake.
Editorial content is subject to change.