Statoil, Shell and Chevron are experimenting with various technologies
Crude prices have fallen by around 50% since 2014, making companies to cut their costs. In order to protect dividends and the infrastructure which can help them to compete and grow if the market heals in future, they are investing into smarter technologies and design to make savings.
French oil and gas giant Total is now using drones for inspections on some of its oil fields a. Cyberhawk, the drone company that led the trial said the manned inspection used to take 7 trips each in two-week with a 12-man team. The drones do the work in two days and at about a tenth of the cost.
Statoil’s Johan Sverdrup field, the biggest North Sea oil find in 3 decades which will start production in 2019, is a biggest industry case study for cutting costs in the era of cheap oil.