ABU DHABI, UAE – Representatives of 30 oil companies and service groups have attended a technology forum organized by ITF and sponsored by Kuwait Oil Co.
They discussed the main technology barriers hindering development of hydrocarbons in the region. ITF member companies giving presentations included Petroleum Development Oman and Shell.
Based on the feedback, ITF plans to draw up a list of relevant innovative technologies that might warrant funding. An official said: “Some of the challenges particular to this region are water management, heavy oil and asset integrity, as the fields and equipment are getting older.
“Enhanced oil recovery is also still a big issue to maximize recovery rates. We hope that by providing a platform for knowledge sharing, the collaboration between our members can speed up critical research and development in these areas.”