Despite all of the hype around the shale revolution in the United States, over the long-term, US shale is expected to deteriorate. Owing to high initial decline rates, shale may not be around for the long haul.
That will put the focus back on some conventional spots in the next decade or so. Perhaps most important among them is the offshore sector, which still has vast reserves that are underexplored.
Some of the best offshore wells can provide steady production for decades. But the easiest stuff has been drilled out. That has the majors going deeper and farther offshore. Ultra-deepwater, pre-salt off the coast of Brazil, the lower tertiary – these are some of the new frontiers for oil and gas drilling.
Technology has come a long way, which allows E&P companies to reach new depths, and in more extreme conditions. But to continue to push the limits, constant innovation is needed in the sector.
In this special report, we will take a look at a whole range of new offshore drilling technologies. Some are not quite ready for prime time, but we will explore what lies in the not-so-distant future for the offshore oil industry.
New Offshore Tech
The ability to “print” off 3-dimensional objects using layers of plastic or metal have already been implemented in other industries, such as medicine or aviation. It hasn’t yet hit the oil patch. But that is set to change. GE Oil &…