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Technological advances in the offing

The first of four surveys conducted by Petroleum Economist in partnership with Petronas found a strong future – soon - for offshore technology

In the survey, which was conducted online as well as at OTC Asia in Kuala Lumpur, respondents were bullish in their thoughts and assessment of what the future holds for offshore exploration and the technology that makes it possible.

Autonomous underwater vehicles, which have enjoyed growing popularity among oil and gas exploration firms, were highlighted as having a significant place in the industry’s future. With almost 16% saying the technology could change everything, a further 65% recognised that developments in the technology would be very important.

Elsewhere in the survey, a large proportion of those asked said that firms should be investing heavily in subsea production systems. As many as 70% said exploration companies must focus R&D funding in the area.

The results of the survey suggest that those firms are aware of the importance of subsea production-systems, with close to 23% seeing a surge in developments over the next year, and nearly 63% expecting it to happen within the next decade.

OTC Asia: Day 1 Survey
OTC Asia: Day 1 Survey

With OTC Asia in Kuala Lumpur, we quizzed delegates and online respondents on Malaysia’s upstream environment and what could be done to improve it. The results suggested the country should allow the market to determine competition and innovation, while also ensuring favourable investment terms for foreign players.

See here for the next survey, conducted in partnership with Petronas.

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