16th India Drilling & Exploration Conference ( IDEC )
Panel discussion dwelled upon the increase in India ' s projected oil demand and the significance of the oil and gas sector for economic growth , & how crucial it is to address key aspects such as enhancing Environmental , Social , and Governance ( ESG ) performance , integrating emerging technologies , and implementing effective carbon emission management strategies . By addressing these points , the oil and gas industry in India can work towards aligning its growth with environmental sustainability , social responsibility , and good governance , making it an attractive and responsible sector for investment .
The focus on advances in well completion technology and the consideration of refracturing existing wells reflect the industry ' s efforts to optimize production and reduce costs . The operators can make informed decisions about whether refracturing existing wells is a viable and economical option in their specific operational context . This approach can contribute to the sustainable and efficient development of offshore oil resources .
The marginal field operators are battling with the issues of funding , social political , environmental and technical issues . A marginal oil and gas field is capable of yielding an economic return only by using some innovative ideas . Implementing a comprehensive life cycle management strategy the long-term economic viability and sustainability of marginal fields can be achieved .
Drilling optimization is a critical aspect of oil and gas exploration and development , and predicting the Rate of Penetration ( ROP ) is a key element in this process . Optimizing drilling operations can lead to increased productivity , cost savings , and improved profitability for oil and gas projects .
The exploration and implementation of Enhanced Oil Recovery ( EOR ) methods are crucial for addressing the gap between energy demand and supply in India , especially given the maturity of many oil fields .
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