The energy industry was one of the first sectors to join the technological revolution in the 1980s and earlier, and since then, it has been working to catch up. Apache Corp., Permian Basin Petroleum, and Texas Independent Producers & Royalty Owners associations claim that the United States and the world have benefited from these advancements.
Apache is focused on achieving high operational efficiency. Over the past three years, the company has made significant progress in efficient and responsible hydrocarbon extraction. Methane emissions have been reduced, achieving the lowest incident rate in 18 years, and operational safety has been increased.
In the Permian region, operational efficiency and good drilling results have contributed to a 16% increase in annual oil production in the third quarter of 2023 compared to the third quarter of 2022. Apache has also focused on increasing the length of horizontal hydraulic fracturing. These advancements were made possible through modern technology and computations.
Interestingly, mechanical technologies used for hydrocarbon extraction from shale formations are not new. Horizontal drilling and hydraulic fracturing have been utilized for a long time, dating back to the 1950s and 20th century. However, the key role lies in the development of these processes, primarily driven by modern computational technology. Computers are used for mapping well trajectories, calculating the most efficient hydraulic treatments, and more.
The Permian area is particularly innovative in the energy sector, utilizing increasingly advanced technologies. In addition to local investments in renewable energy, new projects related to carbon capture and storage, as well as air purification, are being developed. The oil industry is also increasingly involved in water management, significantly reducing freshwater consumption and utilizing reclaimed water from extraction processes.
Modern technologies, such as artificial intelligence, have proven their worth in the energy sector, contributing to increased efficiency, safety, and sustainable development. However, the role of people remains crucial to the industry’s success. Without fieldworkers and decision-makers, the extraction of hydrocarbons and the maintenance of smooth operations would not be possible.
Therefore, while technological advancements in the energy industry are incredibly important, they cannot replace humans. Innovative solutions are tools that facilitate work, but the human factor remains key to the industry’s success.
References:
– Apache Corporation
– Permian Basin Petroleum
– Texas Independent Producers & Royalty Owners
The source of the article is from the blog macholevante.com