Oil-And-Gas Technologies Discussed At GDS Summit

Oil-and-gas executives from the Asia-Pacific region recently met at the Next Generation Oil and Gas Asia-Pacific summit in Sentosa, Singapore, hosted by GDS, to discuss new technology. This technology is intended to allow them to close the gap on the Middle East supply. Last year saw the biggest pullback in oil demand in history and the economic downturn saw oil consumption drop by three million barrels per day.

This year has seen the global market splutter back towards relative normality, offering investment opportunities across the industry, which were capitalised on by the attendees at the recent Asia-Pacific summit. Industrialisation and population growth in developing countries drive demand in the oil-and-gas industry, but a stable economy is a necessity for development - something that is finally beginning to appear on the horizon, according to GDS.

Growth also needs support, a good infrastructure and the harnessing of new and emerging technologies - a debate that will be key at the upcoming Next Generation Oil and Gas Middle East and North Africa summit, scheduled for April 2010. The consortium looking to maintain the Middle Eastern hold on the market is considering how to improve business and operational performance while transforming data into actionable intelligence. Business and operational leaders face a number of challenges related to diverse and non-integrated technologies and informational systems.

Quite often, they are overwhelmed by data overload and technology obsolescence issues. Such scenarios can lead to low return on investment and missed business opportunities. Emerging technologies and enhanced regulatory and safety compliance are adding to the complexity at a time of dwindling skilled resource bases. According to the summit director, consolidation in the sector is inevitable as larger companies take advantage of strategic opportunities.

The positive trends seen in recent months are likely to continue this year and the outlook for oil-and-gas transactions is healthy in upstream and oilfield services. This is a pattern that emerges globally within the Middle East, Africa and Asia-Pacific regions, the summit director added. Economically, more cooperation between the oil-and-gas sector's 'big businesses' would reduce the economic costs for the Asia-Pacific region, thus reducing their reliance on the Middle East.

Comments

Post a Comment

Popular posts from this blog

What is Class I Division 2?

Image
A Class I Division 2 is a location: (1) In which volatile flammable gases, flammable liquid-produced vapors, or combustible liquid-produced vapors are handled, processed, or used, but in which the liquids, vapors, or gases will normally be confined within closed containers or closed systems from which they can escape only in case of accidental rupture or breakdown of such containers or systems or in case of abnormal operation of equipment, or (2) In which ignitable concentrations of flammable gases, flammable liquid-produced vapors, or combustible liquid-produced vapors are normally prevented by positive mechanical ventilation, and which might become hazardous through failure or abnormal operation of the ventilating equipment. Class I Division 2 Classification Class I Division 2 refers to the ANSI/ISA 12.12.01 standard. This standard was previously UL1604 until UL recommended the newer ANSI/ISA standard be used and that all hazardous location products be certified under this standa
Read more

FUSE SIZING CONSIDERATIONS FOR HIGHER EFFICIENCY MOTORS

Image
When selecting the proper fuse for short circuit protection in motor starting applications, it is important to not only ensure that the fuse will not nuisance open during motor start up times, but also that the fuse will coordinate as required with overload relays. When sizing fuses between 125% and 150% of the motor nameplate current, several advantages, including ease of coordination with an overload device, a smaller disconnect, and increased short circuit protection from a lower fuse rating, can be achieved. However, if sizing at this level prevents the motor from starting, it may then be necessary to increase the fuse ampere rating and it then becomes important to know the NEC sizing limitations. As of June 1, 2016, the US Department of Energy has mandated that newly manufactured electric motors will need to meet NEMA Premium® efficiency standards. As motor efficiencies increase, motor locked rotor currents can also be expected to increase. In addition to this, with across-the-lin
Read more

7/8 16UN Connectors that Provide 600 Volts and 15 Amps

TURCK announces new A-Size 3 and 4-pin 7/8 16UN powerfast™ connectors that provide up to 600 Volts and 15 Amps of power. These IP67 rated connectors provide a modular wiring system designed to handle high current applications for machine power distribution, while providing resistance to vibration commonly associated with conveyors, motors and material handling applications. The cordsets are available with a tray rated, exposed run PVC flexlife ® cable, with or without STOOW rating, and 14 AWG wires that allow you to replace hard wiring with a robust, quick disconnect system that saves the time and money spent installing a conduit system. The A-Size powerfast line offers male and female, straight connectors, standard and custom lengths, and pigtails or extensions. To make the system complete, fully encapsulated mating receptacles, with 1/2”-14 NPT mounting threads are available.
Read more