ANSYS Advantage - Special Issue - Oil and Gas 2015 - Article

Challenges in the oil and gas industry can be simply summed up as using technology to overcome risks related to finding and producing resources at reasonable cost. The industry is experiencing tremendous pressures due to a recent drop in prices. At the same time, advancements in seismic technology used in exploration have been critical in finding hydrocarbons in all types of formations. Now the challenge is to develop these fields in a safe, reliable, sustainable way. The industry must invest in developing new technologies to reduce cost and ensure profitability while meeting increasing regulatory requirements and can learn from best practices in other industries to increase the pace of innovation.