Press Association
Hopefully the patent on this type of technology can be utilized by other companies and lower the ridiculous gas prices that we’ve been seeing these last couple of years. However, the cost of R&D to have come up with it might actually make prices go up for a while; I guess only time will tell.
BP has announced it is introducing new technology which will significantly boost the amount of oil it can extract.
It will be used for the first time offshore in the £4.5bn Clair Ridge development west of Shetland.
If left to its own devices an oil well will deliver only about 10% of the crude it contains. By then its pressure is exhausted. Continue Reading
