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LR Energy Oil and Gas Technology Radar
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Transcript of LR Energy Oil and Gas Technology Radar
Working together for a safer world
The Lloyd’s Register Energy Oil And Gas Technology Radar 2014
Lloyd’s Register Energy
About the research: Key inputs
The second research input was in-depth interviews with 16 experts and executives at leading firms
We surveyed over 250 senior executives in the oil and gas industry
SURVEY INTERVIEWS
Lloyd’s Register Energy
About the research: Interviewees (listed alphabetically, by surname)
Lloyd’s Register Energy
The Energy Technology Radar: 5 key categories
Lloyd’s Register Energy
Technology Radar: Near term (before 2020)
Lloyd’s Register Energy
Technology Radar: Medium term (around 2020)
MEDIUM TERM: High pressure, high temperature drilling and multi-stage hydraulic fracturing will have greatest impact
Lloyd’s Register Energy
Technology Radar: Longer term (2025 and beyond)
LONGER TERM: From 2025 and beyond, subsea robotics and autonomous vehicles are seen as most promising, followed by downhole water separation
Lloyd’s Register Energy
Key drivers of innovation
29%
Access New
Reserves
44%
Improve Operational
Efficiency
45%
Improve Safety
43%
Reduce Costs
27%
Increase Asset
Lifespan
Lloyd’s Register Energy
Innovation on the rise: Increased spending, more targeted R&D
Lloyd’s Register Energy
Key barriers to innovation: Costs, ROI and risk of failure
Lloyd’s Register Energy
Deployment is a key challenge
Lloyd’s Register Energy
Changing approaches to innovation
63% agree that NOCs and state-backed operators are rapidly expanding investment into R&D
Lloyd’s Register Energy
Conclusion – Innovate or fail?
• The search for new oil and gas reserves is moving beyond the conventional and easily accessible
• New methods of extracting oil and gas from tough new formations and locations are critical
• Tomorrow’s leaders will show a greater willingness to explore new routes to innovate – or risk failure
Lloyd’s Register Energy
Download your copy
You can download your copy of the Oil and Gas Technology Radar by clicking here