OIL AND GAS TECHNOLOGY

Oil and Gas Technology Development in

Regards to Angola LNG

Oil and Gas Technology Development in Regards to Angola LNG

Introduction

From the very starting of the modern era of oil and gas, a significant role has been played by technology in its support in producing efficient hydrocarbons. The technologies are often ordained for hostile and hard to get to environments such as off the shore water, high level of temperature or the bottom of a well. Tests need to be conducted to confirm whether the market would accept or not. Turning the oil and gas market into a commercial technology is expensive and time consuming with it taking 16 years on average from concept development to the market commercially adopting the plan widely. Sources have changed over the years. Started from the beginning of 1980's Independent businesses decreased their budget for research and development (R & D), because of the buy instead of building, a new concept. Due to this change, service companies have increased their budget for R & D (INTEK, 2004).

Angola LNG

Angola is a leading business the produces liquefied natural gas (LNG) that aims for successful growth. It wants to meet all the needs of the company's stakeholders and be a catalyst for durable development at local, regional and national levels. They own up and ensure to meet their responsibilities of the social, environmental and economical effects. For this business, the people that make it what it is are the main theme. The company aims to balance the needs of the following members; customers, clients, employees, contractors, supplier, community, workforce and anybody else who has an interest in the business. Their mission is to achieve an outcome that is successful from a financial and social perception. With the population over 14 million, Angola has massive potential and immense resources available of minerals, oil, diamonds etc. Their oil industry is the greatest contributor to this date to the financial section of Angola. It is a section with excellent oil and its position as a global producer and supplier will intensify with time. In sub Saharan Africa, Angola was producing 2 million barrels of oil by 2008 a figure that has increased in the past 4 years. Fifty important discoveries have been further made in the deep water that will start producing within the next eight to ten years. It has been calculated that these hold ten billion barrels of oil.

Most of the gas being produced flows is in association with currently being burned. Angola is looking for solutions for reductions of emissions and for establishing a newer source of purified energy to markets in Atlantic Basin. Angola believes in being environmentally responsible, as they understand their duty towards minimizing the effect of their operations and manage their performance in accordance with high environmental global standards.

Oversees development opportunities

Major companies that develop oil and gas technologies are now turning towards development opportunities abroad, which leaves the production within United States mostly to independent oil and gas ...