OTC: US production boost seen from R&D consortium

Falling US oil and gas production could be turned around if a controversial section of a recently passed bill is implemented, members of a technology panel said May 3 at the Offshore Technology Conference in Houston.Sub-part J of the Energy Policy Act of 2005 (EPACT) authorized the formation of a research and development consortium to develop commercially viable production technologies. Ultradeepwater technology will be one of the consortium’s production targets. The program also will address safety, environmental impact mitigation, challenges of small producers, and workforce issues. The initiative was born of a 1999 National Petroleum Council study that warned of serious supply sh...

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