Editor's note: This is the fifth in a seriesof articles on the great challenges facing the oil and gas industry as outlined by the SPE Research and Development (R&D) Committee. The R&D challenges comprise broad upstream business needs: increasing recovery factors, in-situ molecular manipulation, carbon capture and sequestration, produced water management, higher resolution subsurface imaging of hydrocarbons, and the environment. The articles in this series examine each of these challenges in depth. White papers covering these challenges are available at www.spe.org/industry/ globalchallenges and allow reader comments and open discussion of the topics.