Situated at the mouth of the Mississippi River, Louisiana has abundant crude oil and natural gas resources both onshore and offshore, buried beneath the thick sediments of the Mississippi Delta. Freshwater and saltwater wetlands cover about one-third of Louisiana's land area. The state rises gradually from the marshes, bayous, and estuaries along its extensive Gulf of Mexico coastline to the prairie of the state's north and west. On average, Louisiana is only 100 feet above sea level.
From production efficiency to cost reduction, business challenges in the upstream are still driven by low oil prices. Sector leaders recognize the chance to improve operational efficiency and increase production as a basis for future prosperity and they know that, in this tough energy economy, IT must drive business value through innovative technology solutions. That’s why they are investing in digital transformation to automate workflows, fill functionality gaps and align processes.
Tim McNally: How many founders came together to develop the technology produced by M-Flow, and why was 2012 the year that they set out to improve on it? Giles Edward: As with many step change technologies, M-Flow’s innovations arose because a group of people connected through networks found their curiosity, different skills and access to technology connected a solution to a problem. The foundation of M-Flow included perhaps half a dozen individuals and two or three companies, all of whom made key contributions.
MarketsandMarkets projects that the AI in the oil and gas market was worth $1.42 billion in 2016 and is expected to grow at a CAGR of 12.66 percent from 2017 to 2022 to reach a market size of $2.85 billion by 2022.
It’s a new year, and the oil and gas market is hungry for assets. There are companies all over the map looking for good quality assets, but the transactions are not happening.
International market experts, analysts, consultant agencies and specialists in the oil and gas sector see more growth in the Asian LNG market instead of Europe, especially from non-OECD countries.