Improving business performance using intelligent technology and asset management ///

In this presentation, the author discusses/develops the concept of the "convergence" of several technologies that helped develop the present oil/gas industry. From a focus on exploration/appraisal-development, the 1990s saw the convergence of technologies and business processes in the production side of upstream operations. The discussion then shifts to "where we are today" and the evolution of intelligent wells as production / reserve enhancing tools. Besides new fields, there are also "hidden giants" within known producing areas awaiting optimized development. An example in Venezuela’s Lake Maracaibo is presented. The author says in his conclusion that we now have the technologies to unlock the potential of giant fields that can provide $100 billion additional income per year.

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