Survey of America’s oil and gas at OTC

Survey of America’s oil and gas industry at OTC Houston in Texas has recently revealed ‘adoption of new technologies’ as the critical business issue in the next 18 months. Lloyd’s Register had earlier challenged oil and gas companies to re-think their approach to technical innovation, performance and safety to secure the world’s energy supply in a sustainable way, from reservoir and refinery to beyond.

A Lloyd’s Register survey of exhibitors at OTC Houston 2016 revealed more than 43% of respondents consider adoption of new technologies including additive manufacturing (or 3D Printing) and the use of unmanned robotics to be the primary issue.

Using new technologies from other industries (17%); Better collaboration within the industry (16%); Data rationalization and interpretation techniques (13%); and Education initiatives for graduates and new industry entrants (11%), were also seen to be important issues.

According to its annual 2015-16 Oil & Gas Technology Radar survey, “operational efficiencyâ€? is now the top driver for innovation investment. “Improving access to potential reservesâ€? and “increasing the life span of assetsâ€? also rated more highly as innovation drivers, suggesting that, companies are looking to push up the top line by extracting maximum value from resources.

The company confirms that the offshore sector is rapidly realigning in response to the low oil price environment and other challenging dynamics. The issues appear to be well-understood, aided by good-quality dialogue and increased collaborative efforts.
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