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As an example of an open system, the oil and gas market is a function of several external forces. Free market supply and demand may not yield a sustainable equilibrium price, but the deferral of capital projects will result in a lack of global supply in just a few years.

A new blowout preventer design shows potential for delivering much greater shearing power than current BOPs. The design is simpler and more efficient than current BOPs.

Wind power via floating turbines could be used to pump oil from remote offshore fields in the way windmills were once used to pump water from wells in arid West Texas.

The next couple of years for the oil and gas industry are likely to be defined by mediocre prices. “It is going to take a long time to get back to the good old days," said Atul Arya, senior vice president of IHS Energy, during OTC.

Transforming and shaping the future of the exploration and production (E&P) industry will be the theme of SPE's first Annual Technical Conference and Exhibition to be held in the Middle East, running September 26-28 at the Dubai World Trade Center.

Of all the attention generated over the opening of the Mexican oil and gas sector to the outside world, one consideration has been largely left out of the discussion: What does it all mean for service companies?

Precise casing-wear prediction is important for improving well integrity and longevity, while simultaneously making casing designs more cost-effective. There are no industry guidelines for casing-wear prediction. This article presents a validated predictive model.

As it has since 1969, the world came to OTC to make critical decisions, share ideas, and develop business partnerships to meet global energy demands.

Presentations at OTC's d5 event included discussion about the impact of industry disruption, the need for innovation, learning from technology failures, and how diversity contributes to success.

For deepwater development, panelists at OTC emphasized the need for scalable technology, the standardization and simplification of projects, patient capital investment in innovation, greater collaboration, and new perspectives coming from outside the industry.