Major Challenges in Petroleum Industry

Over the last twenty years the field of Petroleum Engineering has undergone major changes. The evolution of technology as well as the increasing presence of computerized tools in nearly all stages of the exploration-production processes. Petroleum Industry demands from our possible future leaders and managers a basic understanding of the oil business, the global market, its trends, risks and economical implications. Knowledge about major oil and service companies and their markets and geographic areas of operation is also necessary since, as it is well known, professional development and promotions often come with reallocation to a different region or country. In addition, modern professionals will be asked to be well-informed about legal and ethics issues and have an awareness of matters related to health, safety and environment.

The Exploration and Production in Petroleum industry faces numerous challenges as it addresses growing energy demand, the need for sustainable operations, declining production from older reservoirs, and new resources is harder to reach and harsher environments. The Society for Petroleum Engineers Research & Development Committee identified five grand challenges for the industry and is developing white papers for each one that describe the challenge, the current state of R&D, and areas for further research.

  • High-resolution subsurface imaging
  • Challenges in reusing produced water
  • In-situ molecular manipulation
  • Increasing hydrocarbon recovery factors
  • Carbon capture and sequestration

Related Conference of Major Challenges in Petroleum Industry

Major Challenges in Petroleum Industry Conference Speakers