The race for energy efficiency and domination is global and is pushing countries to expand their development of unconventional oil production. In 2012, the International Energy Agency (IEA) predicted that the U.S. would, by 2017, outstrip Saudi Arabia and Russia’s oil production. But the IEA’s report wasn’t limited to the energy landscape of North America, it also talked about the pathway to a sustainable energy landscape and made clear recommendations about the ways and means that IEA member and non-member countries alike can become more energy efficient. In their report, the IEA outlined the measures currently proposed and/or underway by top energy consumers, such as the U.S., China, the European Union, and Japan, but cautioned that while encouraging, these measures “fall short” of the potential for energy efficiency each is capable of.
Moreover, they reported that a huge share of potential energy efficiencies in the building sector and industry at-large remains untapped (four-fifths and one-half, respectively). If the forces or barriers undermining energy efficiency investment can be removed, the IEA believes the unleashed economic potential could result in “huge gains for energy security, economic growth and the environment.”
Getting a Leg Up on Oil Well Stimulation and Optimization
One such barrier has to do with factors that inhibit oil well production. As the demand for unconventional oil production continues to spike, the demand for resources that support that production has also climbed. Well stimulation material demand has increased accordingly, as oil cbd capsules canada well producers seek to mitigate the loss that occurs when a well becomes so degraded that production is substantially diminished, and eventually it must be abandoned.
Proppant sales and conductive fluids, such as gelling agents, specialty additives, surfactants, and other chemicals which fall under the “well stimulation materials” rubric, are expected to reach double-digit annual growth through 2017. And for oil and gas executives seeking to optimize production and overall operational efficiency, the imperative to do so is of prime importance, if they are to remain competitive.
The largest well stimulation market, America, accounts for approximately 80%. And with the thrust towards largest-market share of horizontal drilling and hydraulic fracturing underway in the U.S., the demand for well stimulation is expected to continue to be the greatest in this region, with Canada, Russia, and China coming up second.
Canada is developing western shale formations and China is expected to increase both domestic and offshore sites to meet increasing energy demands. Russia maximizes older oil and gas infrastructure production and plans to develop its domestic shale and coal-bed methane assets in future. Though the largest producers of oil and gas (Africa, the Middle East, Latin America, and Western Europe) at present only account for a marginal share of the well stimulation material demand market, as shale development continues to expand in more countries, their well stimulation material demand will also increase.
How Will Well Stimulation Support the Increased Global Demand?
The global unconventional oil production demand has spurred a concomitant wave of evolution in the design and production of well stimulation technology. In the U.S., advanced well stimulation products and techniques are evolving to meet the heightened demand. To mitigate the buildup of asphaltenes or paraffin within casing perforations of production wells, which can significantly inhibit well production and lead to well closure, products, such as G-Clean, which are plant-based, fully biodegradable and domestically produced, offer an environmentally attractive option. This solution works without solvents or acids, removing the risk of oil degradation or the necessity of neutralizing acid agents.