Getting MER out of existing N. Sea oilfields – ‘maximising economic recovery’ – is also becoming the watchword of the US oil and gas industry.
According to the the 2015-16 Oil and Gas Technology Radar Survey by Lloyds Register at the OTC event in Houston, Texas, “operational efficiency” is now the top driver for innovation investment.
The survey, which researches the latest opinion of oil and gas executives across the world, also reveals that “improving access to potential reserves” and “increasing the life span of assets” are rated more highly than innovation drivers this year compared to the previous 12 months.
Teril Smith, Senior Vice President of Lloyd’s Register Energy in Houston, Texas, commented: “This suggests that, as well as nudging down the bottom line, companies are looking to push up the top line by extracting maximum value from resources by finding cheaper ways of extracting and supplying energy.
“In this environment, staying afloat requires a new type of inventiveness and open mindedness; an eager and proactive search for novel technologies, approaches and ways of working.”
- Meanwhile, Optima Asset Maintenance Solutions, a maintenance engineering consultancy based in Aberdeen, has agreed a partnership deal to bring Uberlytics asset management software to the UK.
Leslie Moyo, Project Manager, Optima Asset Maintenance Solutions, explained: “Given the challenges faced by the UK oil and gas sector, this is a well-timed move that will enable us to offer state-of-the-art solutions to asset managers who have to decide how to manage an ever-growing asset work order backlog and competing priorities given ever shrinking resources and limited budgets.”
- Lubricant manufacturer ROCOL has appointed Martin Simpson as UK sales engineer for the offshore and marine sectors.