Enabling Technology: An Overview of Offshore Innovations in the Oil Industry

Abstract

Big acumulations found in the past are not likely to occur again. On the contrary several small size reservoirs may still be there, unless a new play be discovered. With global demand for oil decreasing, small accumulations may deliver the goods but and easy oil has become scarcer and we need to start looking at more difficult reservoirs from which to produce hydrocarbons. The actual production decline in existing fields may pose a challenge in the future together with geopolitics and technology. depletion rates and Geopolitics are complex variables to predict. Technology on the other hand can still be designed fit for purposes. This paper is about the road map to technology, including innovations and emerging ones, that will be needed by the oil industry to succeed in unlocking new plays. It is about enabling technology, i.e, to make technology able to do something for us now.