The hottest oil industry urgently needs to expand

2022-08-14
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The oil industry urgently needs to expand new fields

nowadays, people are not only worried about high oil prices, but also worried about whether oil production has reached a "peak" so that global production begins to decline. World energy demand is likely to grow by 50% in the next 25 years. Where can I find these energy sources? "Readily available" oil is likely to have passed the peak, and the output of other energy reserves is still far from the peak. Unconventional oil and natural gas reserves are still abundant, but these resources are difficult to develop and utilize. The oil industry must expand new fields, develop new hydrocarbon energy, and integrate "carbon dioxide solutions"

the challenge now is to develop technologies that can drive growth without causing environmental degradation. In other words, the application scale of technological progress must be sufficient to produce real progress. This means that we must integrate technology, because in this complex industry, this is where the real benefits are generated. At the same time, it also means that we need to apply these technologies in increasingly difficult projects and obtain resources in challenging new environments such as the Arctic or deep-sea waters

at the same time, the biggest impact of

technology is to significantly increase the amount of traditional oil we extract from existing reserves. This is 1/3 higher than the current industry average level that allows you to see our real products without running so far. The intelligent technology of engineers' remote monitoring of storage processes, together with the technology of using steam or chemicals to make oil easier to produce, can greatly improve oil recovery

technology integration can also enable us to obtain hydrocarbon resources that were not available in the past. The global natural gas reserves are huge, and many of them have not been developed and utilized. The demand for liquefied natural gas will double in the next 10 years, but it also depends on technological progress

transforming gas into liquid also requires technology, which will convert natural gas into fuel like diesel, which is an ideal fuel for big cities to reduce pollution

new fields of other hydrocarbon energy include heavy oil, oil contained in sandstone and shale, natural gas and tight gas reservoirs containing impurities, and coalbed methane. The world is rich in coal reserves, especially in the United States and China

shell is trying to recover a large number of potential reserves in oil shale in an environmentally friendly way. They used electric heaters to heat rock formations in Colorado, releasing light crude oil and natural gas. Coal gasification technology provides a more effective, cleaner and more flexible method for coal utilization, and the resulting syngas can become an effective fuel for combined cycle power plants. Using the same technology as liquefied gas, high-quality liquid fuel can be produced. The world will need these resources, but because of their higher carbon content, it is more urgent for companies interested in prototype products to use them in specific areas to find ways to solve the problem of carbon emissions

capture most of the carbon dioxide in "green fossil fuels" and store it underground or in inert substances. In the medium term, this may be cheaper, more convenient and more flexible than alternative energy. Usually, the carbon emission of a 1million kW thermal power plant is equivalent to 1.5 million cars. China alone will build about 17 such power plants in a year

whether the idea of carbon sequestration can succeed or not, the prerequisite for driving the precision screw pair to carry out experiments lies in whether there is enough investment to obtain more difficult resources and engage in technological development for a long time. The International Energy Agency (IEA) estimates that to meet global energy needs, more than $17trillion will be invested by 2030. In view of the urgent demand for investment, imposing windfall profits tax will only backfire, especially for this industry with a history of price fluctuations

therefore, although there are many energy sources that can be used to meet the energy challenges, the task of the energy industry is very arduous. It must use technology and talents, and at the same time, it also depends on the government and consumers recognizing that we have a common interest and must deal with the changing environment

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