Global Leader in International Oil and Gas Industry News

posted in:

Production booms for forward-thinking oil and gas companies

Thursday, Nov 08, 2012

LONDON, November 7, 2012 /PRNewswire/ --World Finance is proud to announce the winners of the Oil and Gas Awards 2012 at a time when the industry is enjoying a renaissance.

Innovation has been the key to success. The gas industry in particular has been revolutionised by developments in hydraulic fracturing extraction, known as fracking. This extraction technique sees fluid pumped into the ground toforce out deposits of gas and oil trapped within the rock.

Fracking is resurrecting areas long considered complete, and reviving the industry. In turn it's changing the power structure associated with energy producing nations. In the first half of 2012 the US met 81 percent of its energy needs with its own products - the highest amount in over 20 years. This trend towards decreased dependence on energy imports is set to continue, with the expectation of the US to rival Saudi Arabia in oil and liquid hydrocarbons output over the next few years.

Production of oil extraction is getting more innovative. Contrary to the poor example demonstrated by the Deepwater Horizon disaster, World Finance appreciates the many companies embracing techniques that prioritise safety for staff and the environment in extraction. The development of 'smart wells' has enabled greater regulation over the process of extraction, with the ability to control the pressure within the well, shutting it down if needed to ensure production remains safe.

Extraction is also getting bolder. While judging the Oil and Gas Awards 2012, World Finance has seen a variety of projects that are using new technology to target deep-water oil reserves, once thought unreachable. Companies have relished the challenge that this has brought, finding the innovations that have arisen have a far greater reach and potential for application.

World Finance is pleased to celebrate the successes of the industry through the Oil and Gas Awards 2012. The awards celebrate companies from every aspect of the industry - from funding to processing. Each winner has been seen to play a vital role in the delivery of these vital products, and World Finance wishes each the greatest future success in this endeavour.

To find the full information on the Oil and Gas Awards 2012, pick up a copy of the November-December edition of World Finance in all good shops now. For a list of the award winners, visit: http://www.worldfinance.com/awards/oil-gas-awards-2012

World News Media is a leading publisher of quality financial and business magazines, enjoying a global distribution network that includes subscriber lists of the most prominent and senior decision-makers around the world, as well as comprehensive airport, hotel and conference site distribution.

Source: World Finance

To access over 3,000 of the latest oil projects from across the world visit Projects OGP for free trial today

posted in:

Other Oil & Gas News

Air Products to Feature Its Range of Industrial Gas Supply Options and Advanced Gas Technologies at PTXi 2014 24-04-2014
FAR Ltd provides an update on current drilling program in Senegal and future plans in Kenya 24-04-2014
Hess announces sale of Thailand oil and gas assets 24-04-2014
Energid's Actin Software Revolutionizes Oil and Gas Exploration 24-04-2014
Bakken Energy Corp Begins Negotiation to Buy Oil Refinery in Southern Utah Uinta Basin 24-04-2014
Ferus Natural Gas Fuels Acquires Encana's Share in Alberta LNG Plant 24-04-2014
Fincantieri Offshore chooses AVEVA software for a revolutionary project 24-04-2014
Gazprom and Austria discuss alternative Russian gas routes to Europe 24-04-2014
APPEA: Time to lift barriers on New South Wales natural gas development 24-04-2014
BP to sell interest in four Alaska North Slope oil and gas assets 24-04-2014