lr energy oil and gas technology radar
DESCRIPTION
This presentation gives an overview of the findings from our survey of over 250 professionals in the oil and gas sector to determine the the current state and likely future developments of technology and its adoption within the oil and gas industry. You can download the full report here: http://www.lr.org/en/energy/technology-and-innovation/technology-and-innovation-radar/index.aspxTRANSCRIPT
Working together for a safer world
The Lloyd’s Register Energy Oil And Gas Technology Radar 2014
Lloyd’s Register Energy
About the research: Key inputs
The second research input was in-depth interviews with 16 experts and executives at leading firms
We surveyed over 250 senior executives in the oil and gas industry
SURVEY INTERVIEWS
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About the research: Interviewees (listed alphabetically, by surname)
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The Energy Technology Radar: 5 key categories
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Technology Radar: Near term (before 2020)
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Technology Radar: Medium term (around 2020)
MEDIUM TERM: High pressure, high temperature drilling and multi-stage hydraulic fracturing will have greatest impact
Lloyd’s Register Energy
Technology Radar: Longer term (2025 and beyond)
LONGER TERM: From 2025 and beyond, subsea robotics and autonomous vehicles are seen as most promising, followed by downhole water separation
Lloyd’s Register Energy
Key drivers of innovation
29%
Access New
Reserves
44%
Improve Operational
Efficiency
45%
Improve Safety
43%
Reduce Costs
27%
Increase Asset
Lifespan
Lloyd’s Register Energy
Innovation on the rise: Increased spending, more targeted R&D
Lloyd’s Register Energy
Key barriers to innovation: Costs, ROI and risk of failure
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Deployment is a key challenge
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Changing approaches to innovation
63% agree that NOCs and state-backed operators are rapidly expanding investment into R&D
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Conclusion – Innovate or fail?
• The search for new oil and gas reserves is moving beyond the conventional and easily accessible
• New methods of extracting oil and gas from tough new formations and locations are critical
• Tomorrow’s leaders will show a greater willingness to explore new routes to innovate – or risk failure
Lloyd’s Register Energy
Download your copy
You can download your copy of the Oil and Gas Technology Radar by clicking here