The Petroleum Industry is complex and requires extensive coordination to bring the end product to market. This requires expertise in exploration, extraction, transportation and refinery of fossil fuels. Demand for Petroleum products and fuel continues to increase as developing countries’ standard of living improves and life expectancy lengthens from increased availability of affordable energy. The US EIA (Energy Information Administration) reports that world oil consumption is projected to reach 118 million barrels per day by 2030.
The above data clearly demonstrates the need for efficient and cost-effective means for extracting these natural resources. While the applications for various oilfield chemicals continue to evolve, the demand for chemicals is sustained, due to economic benefit. Business units implementing chemicals effectively include, EOR (Enhanced Oil Recovery), fracturing, acid treatments, cementing, drilling, and more. The application of oilfield chemicals has become essential to the extraction and commercialization of this most important natural resource, and thus improving the lives of people around the world.