Once upon a time, around 30 years ago, the oil industry was at the forefront of technological innovation, pushing boundaries with creations borne out of necessity, such as digital well logs, electrical submersible pumps and 3D seismic imaging tools, which use sound waves to create a 3D image of geological formations. In years following, the focus shifted. As oil prices skyrocketed in 2011, the aim became maximizing production and, in relative terms, technology took a backseat . However, with oil prices currently at $72/barrel , the narrative has shifted again. The players in this tumultuous market have started looking […]
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