Oil industry trends are currently dominated by three factors – the development of new technology, falling oil prices and the rise of renewables. All three dictate an industry focus on efficiency, safety and vision that will enable it to stay competitive. When it comes to oil well exploration, drilling and maintenance, an experienced and tested company can offer the industry’s best equipment and know-how to succeed in the changing landscape.
Oil: present and future
In the US alone, the oil and natural gas industry accounts for 8% of the US economy and provides 9.8 million jobs. It is estimated that current oil reserves will last for another 53.3 years of global production. At the same time, new technology has made it possible to drill for oil and natural gas in locations previously thought to be inaccessible.
About 30% of the total oil production in the world and half of the natural gas production comes from offshore drilling. Offshore rigs can drill as far as 200 miles from shore and as deep as 7,500 feet.
Reliability of equipment is the first consideration
Production equipment had to be able to withstand the severe stresses that go with heavy duty operations and extreme environments. For both safety and efficiency, production rigs should be equipped with the best available machinery. A company that understands oil and natural gas production inside and out is best placed to offer oil drilling equipment that will serve its purpose and maximize returns.
Plant and worker safety
Safety of workers and plants is another major concern. When it comes the heavy equipment used by the oil well and natural gas industry, it pays to rely on the company that builds the best product in the industry and follows up with the highest level of customer support after the sale.
In a fast-changing world, efficiency, safety and flexibility will come to define success. Quality equipment from an experienced partner will be the core of future projects.