Needs challenge software
New hardware and software tools build on existing platforms and add performance and ease-of-use benefits as the struggle to find and produce hydrocarbons at the lowest cost becomes more and more competitive. Software tools now provide geoscientists and petroleum engineers with a better understanding of reservoirs from the shape and makeup of formation to behavior projections as hydrocarbons are extracted. Petroleum software tools allow scientists to simulate oil flow, predict the life expectancy of a reservoir, and even help determine how to extend the life and economic viability of the reservoir. The requirement of the petroleum industry to find and extract petroleum more efficiently drives the solutions provided by software and service companies. To one extent or another, most of the petroleum software products available today have achieved an acceptable level of competency. Innovative, high-impact products from small, focussed companies often were bought out by larger companies with deeper pockets if their developers couldn`t fund their expansion. Other products disappeared from the scene, because they were unable to evolve fast enough to compete. There are still enough small companies around producing excellent products to prevent the marketplace from feeling too narrow and lacking in choice. Oil companies requiring specific solutions to their problems have helped fund product development within the commercial sector. As the industry has matured, strategic alliances between vendors, both hardware and software, have provided market advantages, often combining strengths to enter new and undeveloped areas for technology. The pace of technological development has been fast and constant.
- OSTI ID:
- 576356
- Journal Information:
- Hart`s Oil and Gas World, Journal Name: Hart`s Oil and Gas World Journal Issue: 7 Vol. 89; ISSN 1075-5365; ISSN HOGWF6
- Country of Publication:
- United States
- Language:
- English
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