Smith Market Blog

OTC 2014: O&G business is brisk with tech advances improving operation


The annual Offshore Technology Conference 2014 (OTC 2014) opened Monday with over 90,000 participants from over 120 countries in attendance. Needless to say, OTC is the leading Oil & Gas (O&G) industry event offering opportunities to learn about and exchange ideas pertaining to the latest developments and trends in technology, equipment, and services. From the exhibit hall at Smith's Booth 8644 and throughout the conference sessions, there is a steady and upbeat buzz about the positive business momentum for 2014 and beyond.

O&G growing well in 2014

Despite some concerns around the deepwater market recently, when it comes to new solutions for technology, equipment, system integration and improvements, and new services, the O&G market is growing and set to continue upwards. The opportunities for cost savings, improved monitoring and management of remote tools and operations is rapidly improving thanks to advances in technology and software that is both making the job at the surface easier to manage while providing significantly more data in real-time, which is directly improving costs, safety, maintenance, and accuracy.

Downhole real-time tech

Drilling efficiency and accuracy is seeing notable and exciting advancements, particularly when we look at the changes over the past decade. The examples are numerous and span the full array from Exploration and Production (E&P) and all facets from discovery, drilling accuracy, well monitoring, reporting, well management, maintenance alerts, among other critical field operations. One example of downhole tool advances on exhibit here at OTC 2014 is Schlumberger's Vx Spectra multiphase flow meter which provides real-time data analysis and monitoring of multiphase flow dynamics for testing, regulatory reporting, as well as improved efficiency and accuracy. This solution offers a significant improvement and opportunity for active well sites.

Providing measurement while drilling (MWD) data in real-time is similarly a new and extremely valuable technological improvement. These solutions not only provide improved sampling resolutions for surface monitoring of downhole events to detect issues before problems occur during drilling that can damage tools or create unsafe conditions. One example of these solutions is by National Oilwell Varco, also exhibiting here at OTC 2014, and their new integrated drilling system that enables real-time data for surface analysis to improve drilling events for efficiency, accuracy and safety.

Technology continues to improve O&G

Technology is certainly front and center at OTC 2014 and the many advances and new designs for tools, systems and service solutions are not only contributing to efficiency improvements for operations and E&P, but most importantly, they are enabling a greater level of safety and ability to prevent and/or contain accidents to protect the environment and animal and human lives.

Alongside of the great number of technological advances comes the increase need for partnering with service and solution experts who have the depth of experience and laboratory expertise to provide the highest quality level components while attending to the unique demands and requirements that different situations and companies demand.

With thirty years of experience in electronic component sourcing, Smith & Associates has accrued deep knowledge of the complex quality and reliability needs oil and gas customers face, and is committed to offering them the customized support they need to keep their operations moving. Smith offers downhole sourcing support for numerous specialized electronic components, including ruggedized electronics, instrumentation, directional drilling systems, temperature products, and control boards.

Todd Burke, Senior Account Executive
Written on Wednesday, 07 May 2014 09:21 by Todd Burke, Senior Account Executive

Viewed 8471 times so far.
Like this? Tweet it to your followers!

Latest articles from Todd Burke, Senior Account Executive

Hits: 8472


TrackBack URI for this entry

Comments (0)

Write comment

Copyright 2012 N.F. Smith & Associates LP.  All Rights Reserved.  View our Privacy Policy.

PlagSpotter - duplicate content checker tool


Contact Smith

Live Help