The Future Lies in the Past: Embracing Mature Fields for Tomorrow’s Energy
A 2011 study by IHS Cambridge Energy Research Associates reported that approximately two-thirds of global daily average oil production comes from mature fields and that the percentage is increasing over time. Indeed, it’s evident that mature fields have become a fundamental piece of the petroleum exploration sector, but what exactly are mature fields? According to Parshall (2012), mature fields are defined by years of production and aging infrastructure. For a field to be considered mature, it had to produce more than 50% of its established proved plus probable resource estimates or have produced for more than 25 years. In this [...]
Exploring the Depths: Understanding Offshore Oil Drilling
Until 1894, we didn’t know extracting crude oil from subsea environments was possible. This changed when the lure of offshore production enticed Henry L. Williams and his associates to build a pier 90 meters out into the Pacific — and assemble a standard cable-tool rig on it. Since then, oil extraction has evolved in unprecedented ways. In recent years, new technologies have emerged as powerful tools for addressing the inherent challenges of exploring previously unreachable resources. Indeed, subsea drilling still represents a complex operation that requires advanced techniques and skilled teams to achieve optimal efficiency and safety. And, despite the [...]
Vidya showcases AI Innovations for Offshore Energy at OTC 2024
Vidya Technology is attending the Offshore Technology Conference 2024 in Houston, TX. You can find Vidya at the halls of this year’s OTC in Brazil Pavillion at booth 624. The conference will take place between May 6-9 at the NGR Park in Houston, Texas. Beyond that, the event will reunite global industry leaders to share ideas and innovations and discuss the offshore energy sector's most pressing challenges. OTC 2024 will connect 31,000+ offshore energy professionals from more than 100 countries to collaborate and discuss the latest developments needed to accelerate the global energy mix. Whether it's oil and gas, solar, [...]
That’s why Oil and Gas production dropped
It was in the year of 2020 that the oil and gas industries suffered a major crisis in their production due to the covid-19 pandemic. Although the problem becomes more evident with the pandemic, it goes back much further. Why is the oil industry at the mercy of its production? The problem is a little more complex than one thinks when we analyze oil extraction around the world. Basically, there are 2 most common types of production, they are: Onshore and Offshore. Onshore operations are less risky and require a lower investment cost due to their easier [...]
The recovery in American Oil and Gas production
With the covid-19 pandemic at the beginning of 2020, the oil and gas industries suffered impacts on their production and are now looking for its recovery. The pandemic changed our routine, our lives, and forced us to quickly adapt to a new work model. The need for social isolation was also one of the measures taken to safeguard the health of people around the world. As the disease spread across the world, economic structures began to encounter new behaviors. For the American oil and gas sector, this change was responsible for one of the biggest drops in oil consumption in [...]
How disruption can agregate in Oil and Gas operations
The oil and gas industry has been constantly faced in recent years with the need for reinvention in the midst of a period where the need to adapt to renewable energy and its impacts on oil consumption are increasingly present. The disruption that the sector faces is perhaps the biggest among industries. It is a sector that must adapt to new business models in order to maintain competitiveness in the market, operating with sustainability, and less risk. For this, new strategies are needed to add value to operations through technologies that optimize the workforce, generating value and purpose to [...]
Vidya Software: the ideal solution for the Oil and Gas Industry
The oil and gas industries still live with the process of implementing the ascending technologies of digital transformation within their processes. These are industries with a high degree of complexity inserted in markets that are under constant pressure about ensuring the safety of their operations and strict regulations on the preservation of the environment. These are some of the main challenges that Oil and Gas industries have on their journey towards profitability and adding value within their production chains. For these obstacles to be overcome, techniques are needed to maximize the optimization of processes and operations, seeking to reduce costs [...]
