Location
Cherry Auditorium, Kirk Hall
Start Date
3-15-2012 1:00 PM
Description
Today and for the foreseeable future, oil will be the cornerstone of society’s energy needs. Because of this, the oil and gas exploration and production business constantly requires new and more innovative methods to extract petroleum and natural gas. New technologies have evolved over the last 30 years which include 3D seismic imaging, horizontal well drilling, multi stage hydraulic fracturing, and steam assisted gravity drainage (SAGD) recovery methods. Because of these technological advances, the recovery of oil and gas is becoming more efficient and cost effective. Canada holds the world’s third largest accumulation of petroleum resources, the Athabasca Oil Sands, located in north east Alberta. Up to the start of the 21st century, oil and bitumen recovery from these resources were limited to mining methods. Through the development of progressive cavity pumps and SAGD technology, these resources are now being produced where mining technology is not feasible, providing the United States with a significant portion of their petroleum requirements. RII North America has developed a new, patent pending technology called STRIP which is thermally efficient, cost effective and environmentally friendly. Pilot testing of the technology will commence within the next year, and if successful, will result in a significant technological advancement for the oil and gas industry.
Effectz of Technology on the Oil and Gas Industry
Cherry Auditorium, Kirk Hall
Today and for the foreseeable future, oil will be the cornerstone of society’s energy needs. Because of this, the oil and gas exploration and production business constantly requires new and more innovative methods to extract petroleum and natural gas. New technologies have evolved over the last 30 years which include 3D seismic imaging, horizontal well drilling, multi stage hydraulic fracturing, and steam assisted gravity drainage (SAGD) recovery methods. Because of these technological advances, the recovery of oil and gas is becoming more efficient and cost effective. Canada holds the world’s third largest accumulation of petroleum resources, the Athabasca Oil Sands, located in north east Alberta. Up to the start of the 21st century, oil and bitumen recovery from these resources were limited to mining methods. Through the development of progressive cavity pumps and SAGD technology, these resources are now being produced where mining technology is not feasible, providing the United States with a significant portion of their petroleum requirements. RII North America has developed a new, patent pending technology called STRIP which is thermally efficient, cost effective and environmentally friendly. Pilot testing of the technology will commence within the next year, and if successful, will result in a significant technological advancement for the oil and gas industry.
Comments
Downloadable file is a PDF of the original event flier.