Forecasts about the oil and gas industry’s future point toward a rapid rise in demand worldwide. Estimates reveal the demand is likely to rise by an average of 2.1% annually, with oil accounting for 37.6% of the global energy mix by 2030. The share of gas is expected to increase by 28%, up from the 22% current demand.
CNPS understands the importance of oil and gas as sources of energy for the economic and social development of the world, especially for developing nations. From large-scale agricultural projects to building bridges and roads and streamlining communications infrastructure to help citizens compete—nothing can be laid without energy.
To help the petroleum industry meet demand effectively, our China-based company offers a broad range of geological field supplies, glass-reinforced piping systems, and mud logging units.
We’re here to help boost efficiency, productivity, safety, and ultimately the profitability of O&G operations by providing high-quality mud logging, enhanced oil refinery, OCTG, oil mining, production, and cementing solutions. We also offer fiberglass solutions designed to optimize mud logging equipment stability, longevity, and performance.
The goal is to help the oil and gas sector continue its good fortunes while pushing toward clean energy. Here are some ways the industry is evolving and updating to meet the challenges.
#1- Digitization
AI, cloud technology, and improved data acquisition and accessibility have revolutionized everything from supply change to profit margins and yield. The oil and gas industry’s future is projected to be digitalized with analytics and monitoring technologies that enable real-time data collection and analyses to improve yields.
It results in more sustainable and efficient procedures and outcomes. Current efficiency figures are approximately 78% of the optimal production potential. Analytics can be used effectively to improve the numbers substantially.
#2- Artificial Intelligence
AI is now commonplace across diverse industries. It’s used to predict and manage stock, monitor robotic equipment and machinery, and crunch the numbers on large complex data volumes. The oil and gas sector can also benefit significantly from the technology, including the exploration and mapping of hard-to-access gas deposits and oil fields.
#3- Carbon Capture and Renewable Energy Sources
While the O&G sector has utilized carbon-capture technology for decades, the industry has recently begun shifting to further lower carbon output to reduce environmental impact. In fact, most major oil pumping facilities already utilize waste CO2 effectively to pump higher gas and oil volumes than otherwise possible.
However, the industry is looking for more extensive and efficient renewables, with geothermal being a popular choice for the oil and gas companies looking to switch to lower carbon options. It may seem counterintuitive, but just because the gas and oil sector produces fossil fuel doesn’t mean they can’t use renewables to power production facilities.
#4- Repurposing Existing Infrastructure
Countries like Germany alone have over 450,000 kilometers of gas supply pipelines. Scientists and engineers are exploring innovative methods of decreasing overall reliance on fossil fuels. They recommend utilizing the existing energy grids to transport renewable energy.
#5- Upgrading Aging Pipelines
Billions of dollars are invested annually in the infrastructure of oil and gas, especially for ‘Enhanced Oil Recovery’—a process that helps improve oil extraction by up to 20% per reservoir. Although, making the marginal or existing oil fields and gas reserves economically viable is challenging.
EOR involves corrosive fluids that require corrosion inhibitors in gas and oil pipelines. Many aging pipes eventually succumb to corrosion, which inevitably leads to environmental damage and loss of massive revenue.
Aging pipelines are also a significant risk because the assurance of reliable gas and oil output is vital to operators. Most conventional metallic pipelines require regular maintenance with increasing spills risk.
Companies are looking to replace them with sustainable, reliable solutions in harsh environments, robust to withstand pressures, and require little maintenance. CNPS offers a range of composite pipes, such as GRE, GRP, RTP, and FRP piping systems, to prolong the lifespan and improve efficiency and yields.
The reinforced plastic pipes are abrasion and corrosion-free. They help reduce spillage risk and leaks and reduce the CO2 output, allowing oil and gas companies to reduce carbon dioxide emissions and operate at increased efficiency.
We’ve got a range of solutions to help companies extract and transport the fuels of today—and the future, safely. We also offer geological equipment, GRE casing solutions, alloy OCTG, mud logging units, and other cutting-edge products to the oil and gas, water, industrial, and marine & offshore sectors worldwide.
You can find all the information available online for our top-notch geological tools and equipment that meet the latest ISO and API standards.
You can set up a consultation with experts at CNPS to streamline the most suitable choice for geolog mud logging solutions or geological supplies that will help you achieve compliance, higher performance, and safety standards for your operations. Alternatively, our representatives are also easily reachable via a quick call.
