Thursday, December 13, 2012

Drilling growth: Technology-backed oil industry in a big leap

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The oil and gas business is rapidly heading toward a new direction. Along with the rise of high technology, oil and gas production is now endowed with a formidable infrastructure only fitting to an industry long valued for its significant role in building societies. While no amount of argument can dispute the fact that the growing global demand for oil tilts the unsteady balance between global security and instability, it remains to be seen whether the recent advancements in technology-assisted oil drilling explorations and operations could actually spell a difference.

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New technology always supplants the old. For an industry reeling in a state of panic in the past decades due to the intermittent crisis in global oil production, the emergence of new exploration and drilling tools that could help tap reserves even in the most dangerous places brings a reason for optimism and relief. Dr. Ali Ghalambor, petroleum engineer who authored and co-authored books on the similar trend such as frac-packing operations and well productivity, could not agree more that the entry of technology in the oil and gas production is not an inadvertent phenomenon. It has always been a product of decades-long of studies and experiment—and yes, maybe a great deal of dreaming and visions.

While there will always be political and economic sides in the dynamics of the oil and gas industry, it is comforting for all involved that innovative technologies serve the same cause—to create new, efficient ways for oil and gas production. That indeed is a big leap.

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