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Created by the Institute for Energy Technology in Norway in 1979, Olga was the oil and gas industry’s first transient multiphase flow model. A source of national pride, the program has been declared one of the country’s most important innovations in recent decades.

Concerns about the usage of water and chemicals and the environmental effect of large numbers of wells signaled the need for new thinking to address these concerns.

In the realm of enabling technologies, multiphase flow modeling has proven to be one of the most important to the oil and gas industry. Without it, nearly all subsea wells would be too costly or dangerous to develop.

Expectations of continued USD 100/bbl of oil were shattered by a sharp price drop last year that eventually halved the prices of benchmark crudes. Prices were still sinking at the start of the year to lows not seen since 2009 due to a global oversupply of oil.

Shale oil and gas wells use a lot of water in fracturing operations. Each well may use up to 8 million gallons, and as much as 35% of this can return as flowback water. Safe disposition is completely feasible and, in fact, is being broadly practiced today.

The Burgan reservoir consists of vertically stacked channel sands along with a fault network connected to the aquifer and contains highly viscous reservoir fluid.

The paper discusses two gas/condensate-development projects offshore Vietnam that deploy managed-pressure-drilling (MPD) technology.

It is clear the oil and gas industry recognizes the large uncertainty in which it operates. A search in the OnePetro technical paper database using the keywords “uncertainty” or “risk” returns more than 53,000 conference and journal papers.

As is often said, all of the easy reserves already have been produced. Long gone are the days when low-risk, low-cost wells were drilled, completed, and put on production for a quick payout.

Saudi Aramco’s upstream strategy aims to implement the intelligent field concept in all of its upstream operations by 2016–2017 so it can better understand reservoirs and improve efficiency.