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Global Impacts of Trend in Oil & Gas Industry

Essay by   •  May 1, 2012  •  Research Paper  •  556 Words (3 Pages)  •  846 Views

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TREND IMPACTING THE GLOBAL COMMUNITY

I. Introduction

A. New techniques & methods

1. Self installation platforms - SIP

2. Injection methods

II. Summary

I. Introduction

The purpose of this article is to highlight the latest trend of using new exploration methods for oil & gas with its global impact.

Oil and gas technologies include the exploration and development of oil and gas fields, and production processes. These developments have made meeting the growing global demand for hydrocarbons possible in spite of the unavoidable decline in new giant reservoirs.

A. Latest techniques & methods

Many Companies in the business of oil and gas extraction are getting steadily better at what they do. They have no choice. Most of the easy fossil fuel is gone. The environments in which they must work can only become steadily less forgiving. This is leading to the emergence of new methods and techniques, two of them are explained later in this article.

1. Self-Installation Platforms (SIP) Technology

This is one of the latest technologies used (http://www.sptoffshore.com) in today's oil & gas world. The purpose of this method is to take extract the available fossil fuels at a certain place / sector of an oil or gas field for a known period of time (till the field gets depleted) which can be relocated without being demolished after the depletion of its source. This is a big step in achievement of global oil / gas demand. A new record was being set in using this technology (BBC news, 2010).

Source: SPT offshore (2010)

2. Injection Methods

Another latest method in oil / gas production is using of injection methods into deep sea beds for drawing out the oil. In this technology produced water, natural gas or liquefied CO2 is being injected into the sea bed or the earth surface in order to bring up the available oil or gas at that surface. Earlier these deep buried fuels were hardly accessible & thus only the part of oil/gas field was being utilized out of the total available source thus helps in meeting the global demand of this Black Gold (Rigzone).

Source: Rigzone.com (2012)

II. Summary

Over the past decades, dramatic improvements in all

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