According to this article from Keystone Energy Tools, oil production and the drilling activities that accompany it is expected to climb in 2018. However, stricter regulations will be in place, especially in the United States, to better improve industrial drilling standards worldwide.
“In 2018 drilling operations will demand certified oilfield tools that are traceable to material and heat treatment, fast delivery to the rig, knowledgeable sales people and quick turnaround on quotes.”
So, what else does 2018 hold for the industrial oil drilling industry, and can we expect to feel a bit of relief when visiting the petrol pumps? Let’s find out…
Regardless of how often our socio-political influencers push alternative energy sources, the fact is that our world relies on crude oil – for everything.
As our global population increases year on year, so does our appetite for oil and oil by-products such as petrol, diesel and paraffin.
Experts predict that oil consumption in 2018 will top 100 million barrels a day globally. This massive reliance on crude oil is expected to create more industrial drilling jobs than ever before in history.
Industrial oil drilling leaders predict that 2018 will see improved integration of artificial intelligence with drilling operations, which will render the industry a safer working environment for all.
In the U.S., shale operators are already leading the way with new, more efficient industrial drilling technologies:
“The largest growth in production has been in the Permian Basin. Geologists in the field there know more about the rock formations than they did even a year ago. Exploratory teams in Texas are using better techniques to extract those precious hydrocarbons.”
With the recent OPEC agreement to limit oil production slowly proving to be ineffective, largely due to non-OPEC countries refusing to adhere, some of the largest industrial oil drilling nations have vowed to seek means to stabilise the industry moving into 2018.
“Saudi Arabia and Russia have pledged to do “whatever it takes” to stabilize the market since their economies depend on oil revenues, but the IEA says 2018 supplies from Brazil, Canada, the U.K., Kazakhstan, Ghana and Congo will go up.”
Excess relates to cheaper oil, which relates to less of a pinch when it comes time to fill up your tank, so while drawing more crude oil from the earth might be seen as a bad idea by some, they won’t be complaining at the petrol station.
With industrial oil drilling looking to improve across the board in the new year, now is a better time than ever to procure quality industrial drilling rigs in South Africa. Contact Bohrmeister right here for more information on our drilling rigs!