Nanotechnology Integration Excellence in Improved Oil Recovery: A Bumpy Road to Sustainable Future

Abstract

Abstract This is a knowledge-sharing manuscript, which focuses on the methods for planning and execution of new technology integration projects in petroleum and geosystems industry. Described in the manuscript proper method of arrangement of the new technology integration projects is based on years of practicing a multidisciplinary approach to the new technology integration for improved oil recovery (IOR). This approach involves the use of knowledge of fundamentals in economics, management, marketing, law and engineering. The new technology integration in such a globally immense and inflexible industry as oil and gas exploration and production (E&P) is a challenging task. The E&P industry segment distinguishes itself from the others by its large share in global trade, capital-intensive nature, and extra-slow pace of projects for the new IOR technology integration. Obstacles to successful integration of new technology in the E&P industry are present at all scales. In the context, it may be regulatory complexities, infrastructural challenges and commodity market volatility. At the business and corporate level, it may be risk aversion, information asymmetry, corporate culture and sometimes stakeholders’ or management's skepticism. Any of these obstacles can hinder or prevent the adoption of the innovation. Therefore, even though the benefits and competitive advantages are clear, being a conceptually new technology conveys many hidden obstacles and entry barriers for integration, making this road a bumpy one. This manuscript delves into practice of the new technology integration on an example of the nanotechnology called Emulsion System with Nanoparticles (ESN) applied for subsurface flows control in petroleum and geosystems industry. Recommendations given in this paper may help both technology-developers and E&P companies overcome some of those above-mentioned obstacles and barriers. The knowledge shared in this manuscript is based on a multi-year experience of the ESN technology integration in several gigantic national oil companies and international joint ventures for oil and gas E&P in Europe, the Middle East and South-East Asia. Analysis of the accumulated international experience in the ESN technology integration helped to find common flaws in the process of pilot projects arrangements, as well as helped to develop a proper methodology for the new technology integration process. This study aims to shed light on the hidden obstacles existing nowadays and to equip decision-makers with actionable strategies to facilitate new technology integration in the global petroleum and geosystems industry.