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
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Source: World Finance
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