What You Should Know About The Energy, Gas, and Oil Sectors
The use of unconventional resources typically comes from oil or natural gas resources which do not appear in traditional formations and therefore must be extracted or produced with specialized techniques. These resources are usually sealed in a sort of geological structure which makes it challenging to extract. With new technological innovations created for the industry, these resources could become valuable fossil fuel reserves with immense potential for the future.
The advances in new technologies are now allowing companies to use directional drilling and high-volume hydraulic fracturing to make these resource deposits more accessible around the world. New technological implementations in the oil and gas industry have already created a lot of success in various countries in the areas like subsea asset integrity management. On the other hand, companies like TOTAL partnered with PetroChina use high-performance drilling and hydraulic fracturing technologies to maximize their well productivity for these resources Some of the effective operating techniques used by TOTAL and PetroChina include slim-hole drilling, factory drilling, specific hydraulic fracturing design, and the widespread use of the velocity string.
Nonetheless, the industry does face major financial, technical, environmental, and social challenges when it comes to the extraction and production of these resources. With the increasing amount of extraction and production sites for these resources, it is of great importance to focus on the solutions that the industry is enforcing. In regards to the risk that workers face during the extraction and production of these resources, as well as the impact it has on the environment, industry professionals are implementing new regulations and technologies to ensure the safety of the people while also aiming for sustainable solutions.
Oil exploration safety is one of the top priorities for the natural gas and oil industry. The industry has taken many incentives to enhance safety during the exploration, drilling, and production of natural gas, crude oil, and other similar resources. Companies like TOTAL have applied 12 Golden Rules to ensure that no fatal accidents would occur within the industry. Since these rules have been applied, the company has witnessed that in 60% of serious accidents or highly severe potential accidents one of the Golden Rules was broken and in the past five years, the number of accidents among TOTAL’s partners has fallen by 50%. As more companies within the industry apply these type of safety measures to decline the probability of on-site accidents, as well as other regulations to protect the environment, industry specialists are looking towards the future and creating new technological innovations to increase the sustainability of these oil and gas resources in the industry.