02-Mar-2022 | Market Research Store
The energy revolution is transforming the key components of the oil and gas sector at its core which is significantly fueled by the Covid-19 pandemic. In the latest interview, the CEO of Silixa – Glynn Williams, reveals that the oil and gas industry can make a significant contribution to the renewable sector by something emerging out of the recognition. Here are a few thoughts of him on the emerging landscape.
What is your perception of the latest status of the oil and gas sector in the wake of the pandemic, and what are the future growth prospects?
He said we are witnessing a significant bounce-back activity despite the long-term disruption due to the Covid-19. Also, the fundamentals are seeing strong, with pre-pandemic demand levels coming back at the end of 2022. In addition, there have been prominent investments during this pandemic period that are likely to return with increased spending this year.
The oil and gas sector is still an attractive segment as the customers in the OPEC Middle East, the US shale sector, and the big water offshore are likely to improve their investments to bring new opportunities for the company.
There are several other opportunities arising out of the operator's requirements to satisfy their requirements. It is a specification that is lowering the scope of one emission this year.
Further, he stated that the company has recently introduced an intervention system that is acquiring data significantly to lower the matter of hours against the conventional techniques. Thereby, the company's scope one emissions are lowered as the company does not need generating plants at the surface for long days; instead, they are required only a few hours at a time. Also, he said the companies deal with the fugitive emission issues through well integrity obstructions. However, they can be resolved in less time by recognizing the leakage source.
As a result of digitalization, the company is witnessing supervision of well-site operations without the extensive requirement for fly specialists globally. In addition, the advanced technology and solution further came up with a strong platform for growth for fast-moving service providers during the pandemic.
How Silixa is going to fit into the new energy normal
It is a wide range of business for some. However, Silixa identifies a lot of relationships outside with good offerings. He said that the company is fortunate and holds a multi-disciplinary team that speaks the same semantics of emerging sectors.
He stated that the company has five business units, among which three are witnessing oil & gas and two of which are seeing the mining and wide environmental infrastructure area.
However, a critical point highlighting the carbon storage and geothermal knowledge along with transferable technology in the optical distributed fiber sensing will enable the company's technology to understand the point where the system is in optimum conditions.