From gas leak detection to waste heat recovery, this MVP Technology Framework evaluates the tech solutions oil & gas producers like BP and Shell are using to decrease production costs and carbon intensity.
A wave of market volatility has driven oil & gas producers to focus on free cash flow and return on capital for investors.
The average breakeven price of a barrel of oil — the minimum amount a producer needs to cover costs like well building and operating expenses — has fallen 40% from 2014 to 2021. This decline is expected to continue into the near future as producers focus on cost cuts, even as oil prices sit near record levels.
Producers are looking to adopt new and existing technology solutions that will help them drive expenses down while increasing performance. These technologies can also help oil & gas producers reduce the carbon intensity of their operations, making the industry more sustainable.
This report evaluates 8 tech markets across these functions that oil & gas producers should monitor, vet, and prioritize.