The last barrel

LNG players jockey for position

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The path to oilfield efficiency is digital

Operators have a singular vision for their business: Safely producing more barrels at a lower cost, despite increasingly challenging operating environments and constant fluctuations in economic cycles. In response, the oil and gas industry has devised innovations across each phase of the well lifecycle—exploration, drilling, completion and production—to extract hydrocarbons efficiently and cost-effectively. For example, in the past, operators have leveraged innovations in exploration, drilling and completions to drill more wells faster and with greater accuracy, add more fracture stages per well, and pump more proppant per stage to boost production. However, this solution has plateaued in terms of efficiency and overall productivity. New, innovative completion designs—including intelligent completions—have helped to foster a production renaissance in the U.S., but unless a major step-change in technology occurs, the benefits yielded from these solutions have plateaued, as well. With no major technology advances introduced since the advent of artificial lift, the production phase is the next frontier for realizing significant efficiency gains and cost reductions. Leading the way is the increasing adoption of technologies that incorporate components of Industry 4.0.

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Innovation is key to drilling longer laterals

Innovative drilling solutions must use specific combinations of high-performance drilling motors, RSS and MWD to accurately and efficiently drill significantly longer laterals.

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Mediterranean LNG Market Evolution

The transformation of global and regional LNG trade over the last twenty years has been a story of rapid growth, change and increased flexibility in LNG cargo movements.Asia continues to predominate global LNG trade, but the European LNG market has promoted significantly in the past decade and seems destined for sustained growth and change over the next decade or so. Despite the LNG import market in North America being overwhelmed by unconventional gas developments in the last few years, future sustained development of LNG demand in Asia and Europe are enhanced by firm new project commitments.

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