Technologies can delay 'peak oil' by lifting mature-field recovery

Certainly we must find new reserves, but everyone knows we also need to exploit existing fields more efficiently and at lower costs than ever before. Who can afford to walk away from money in the ground? To boost mature field recovery, I believe we must do four things better: (1) identify remaining reserves more clearly, (2) design complex well paths more accurately, (3) make optimization decisions more rapidly, and (4) leverage knowledge resources more intelligently. All of these require tighter, more streamlined integration of distributed information, processes, and expert personnel. Fortunately, most of the tools we need are already on the table. Existing technology breakthroughs in ea...

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