Production of oil and gas relies on constant and heavy use of chemicals for flow assurance or asset integrity purposes. In 2015, the E&P industry spent around $8-10 billion on production chemicals in North America alone.
As companies are looking to increase their production and continue to trim costs in the current price environment, a careful review of the chemicals spend is very timely.
Our scouting and research is focusing on emerging technologies, solutions and vendors that are enabling operators to
- understand their need for chemicals through more accurate and timely detection and measurement techniques
- leverage new chemicals and chemistries to solve their field problems
- apply advanced analytics to identify the right chemicals, volume and timing of delivery to the wells potentially in an automated fashion
New technologies in data gathering and analysis are making true optimization of a traditionally manual process a reality, while improved nanotechnology based coatings and other advanced materials have the potential to eliminate the need for certain chemicals. Meanwhile, tailored chemicals promise lower use and higher performance, both in production and in environmental footprint.
As companies continue to unlock value during this downturn, technological innovation will have the most lasting impact. These innovations will create, for adopters, truly sustainable value and competitive strength.
The challenge is knowing which ones to pursue.