It’s January, and the JPT issue has a new look and a new digital edition. I would like to take the opportunity to thank the JPT staff, led by Pam Boschee and Glenda Smith, along with the JPT Editorial Review Committee, for producing exciting articles and technology news every month. For some, the move to a digital-only issue of JPT has disrupted reading and sharing habits. While I know that many of you miss having a print version, the SPE Board believes that remaining digital is the right decision as we look to the future. We’ve changed the digital edition this month. Your feedback on how we can make the digital version match your expectations is very important. I want to take the opportunity to wish you, your family, and those who matter to you an excellent year following the roller coaster we experienced in 2021. Last year started with the hope that the rapid development of vaccines soon would be providing us protection against the COVID-19 virus. However, the numerous waves of infection (we are now in the fifth in many countries) and the various mutations of the virus have kept health authorities and governments in a reactive mode. With the number of COVID-19-related fatalities worldwide above 5 million at the end of 2021, nearly all of us had family or friends who were affected. For the economy in general and our industry in particular, 2022 will bring a bag of uncertainties. Mohamed El-Erian, a recognized economic expert, said at 2021 ADIPEC, “The recovery from the pandemic crisis can be characterized by the U’s: uneven, unusual, uncertain.” The December 2021 OECD Economic Outlook mentions, “The rebound is losing some momentum as the surge in demand for goods has met bottlenecks in production chains. Inflation pressures have emerged in all economies.” Among the risks associated with the large stimulus packages are bottlenecks in production chains, disruptions in commodities and energy supply, high inflation rates (which developed economies had not seen for the past 2 decades), and the loss of momentum in the economic rebound. In terms of the upstream activity outlook, James West, senior managing director at Evercore, in an optimistic outlook recently said, “The spending cycle begins anew: 2021 was the beginning,” adding that “2022 is acceleration.” For our industry, this is great news following two sharp downcycles in less than 6 years. The year 2021 ended on a high note. 2021 ADIPEC in Abu Dhabi was a great success from organizational, technical, and attendance standpoints. In addition to the excellent papers and panels, the exhibition attracted large numbers of visitors (in line with 2019 ADIPEC). I was impressed by the eagerness of participants to meet. The exhibition booths were busy with members that wanted to discuss innovation until the last hours of the fourth day of the conference. Great attention was given to ensure the health and safety of the participants. I had the pleasure to attend the SPE Abu Dhabi Section dinner, and I was pleased to see how much progress has been made in diversity and inclusion.
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