Technology has 'Fundamental Role' to Play in Supporting Oil, Gas Recovery

Technology has 'Fundamental Role' to Play in Supporting Oil, Gas Recovery
Technology has a fundamental role to play in supporting the oil and gas industry's recovery, ITF CEO Patrick O'Brien says.

Technology has a fundamental role to play in supporting the oil and gas industry’s recovery, ITF CEO Patrick O’Brien said in the build-up to the ITF Technology Showcase in Aberdeen, scheduled to take place March 1.

O’Brien said that technology can help unlock remaining reserves and help the industry work more efficiently to maximize production from ageing assets.

“The downturn has focused minds on the innovations that can make the biggest and most rapid impacts,” O’Brien commented.

Further championing the effects of technology within oil and gas, Petrofac’s Geoff Nesbitt said that there are numerous ways in which it can underpin long term cost optimization.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
Bill Parks | Feb. 14, 2017
I whole-heartedly agree that technology has a fundamental role to play in supporting oil, gas recovery. I also believe that the oil and gas industry has a fundamental role to play in supporting that technology development, both financially and in testing and field trials, as they will be the ultimate beneficiaries of it. Compared to the oil and gas industry of 25+ years ago, this has been sorely missing over the past 20 years. With a focus on getting as much oil out of the ground as fast as possible, there has been little interest in trying new technology because of its associated risks and cost in the early phases. The attitude has been We dont use serial #1 for far too long and the industry has suffered because of it.


Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  GLA is 'Single Accumulation', Largest ... (Mar 27)
 -  Software Developer Mltech Completes Fi... (Mar 27)
 -  Aberdeen City Council Lifts Finance Ba... (Mar 27)
 -  Total-Borealis-Nova JV to Build Ethane... (Mar 27)
 -  Shell to Sell Gabon Onshore Assets for... (Mar 24)


Most Popular Articles

From the Career Center
Jobs that may interest you
Project Manager, USA
Expertise: Project Management
Location: United States
 
Assistant Treasurer
Expertise: Accounting|Financial Analyst
Location: Houston, TX
 
Financial Analyst - Finance and Investor Relations
Expertise: Accounting|Financial Analyst|Legal
Location: Dallas, TX
 
search for more jobs

Brent Crude Oil : $50.75/BBL 0.09%
Light Crude Oil : $47.73/BBL 0.50%
Natural Gas : $3.05/MMBtu 0.97%
Updated in last 24 hours