PRN: Oil and Gas iQ Releases the Survey Result on Key Trends and Challenges Surrounding Mature Fields
Oil and Gas iQ Releases the Survey Result on Key Trends and Challenges Surrounding Mature Fields
LONDON, March 26, 2012 /PRNewswire/ --
In the last few years, Norwegian oil production rates fell more than any other country globally. Production from Norway's giant mature fields is declining and there is a window of opportunity to extract these resources effectively. It is now a matter of urgency for the industry to innovate and collaborate so it is not missed.
In preparation of Mature Fields 2012, Oil and Gas IQ surveyed around 100 industry professionals with the purpose of assessing the key trends and challenges surrounding mature fields, and how to enhance oil recovery, especially the oil reserves in theÂ North Sea.
The survey shows that 70.8% of the participants consider that the North Sea Oil and Gas community has not fully realised the potential of its mature fields, whilst 58.3% believes the mature fields will produce greater returns than the new field development in the next 10 years.
So what should be done to improve recovery? Better technology selection and application was the most reported solution, according to the survey respondents. Other options include:
For the complete event agenda and the full speaker line-up, please download the Final Brochure here.
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