emerging technology

In a year defined by a historically harsh oil-price crash that rippled with collateral damage across the industry, the most-read JPT report of 2020 was about a well so different, it needed a new name.

Chevron Technology Ventures President Barbara Burger discusses the adoption and integration of new technologies.

Barbara Burger says the key interest areas for the supermajor’s portfolio of startup investments remains unchanged despite a new industry downturn. However, the environment is tighter and the way in which deals are made has already seen notable change.

The international major is calling its latest multiwell project in the Permian Basin a “beacon of innovation.” The goal is to see if combining digital technologies will lower the operating costs of its shale assets.

Venture groups spend their time evaluating hundreds of companies each year to only make a handful of investments. These two cover interesting ends of the upstream spectrum: aerial drones and downhole artificial lift.