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Millar focused on the enhanced recovery techniques the industry can deploy in existing fields.
But producers in existing fields have found new and cheaper ways of extracting oil.
The falloff in existing fields will be five times greater than the increase in flow from unconventional sources, predicted Fatih Birol, the chief economist at the I.E.A. Finally, some technological issues remain, too.
By 2010 the company aims to have brought its oil production capacity up to 12.5m barrels/day with the completion of a series of major investments in developing new oilfields and expanding output in existing fields.
This might be true in existing fields if the well and completion design remain unchanged, but for all other cases, a tubing stress analysis of some form should be performed.
Hoping that the energy industry in their states will be rejuvenated after almost a decade of decline, lawmakers from Texas, Oklahoma, Louisiana and Alaska are promoting tax incentives aimed at stimulating drilling for oil and natural gas in existing fields, research projects on new forms of energy and the opening of environmentally sensitive tracts of land for drilling.
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Consideration is particularly given to potential reasons for the variable specificity observed in existing field evaluations of LAM ELISAs.
More recently, the government drew howls of protests with a new royalty arrangement for companies interested in drilling in four existing fields in northeastern Ecuador.
"The companies in this country interested in these existing fields let the president know they disagreed with the bidding process, since it carries legal, technical and economic risks," said René Ortiz, president of an association representing two dozen companies operating in Ecuador.
You have to replace the yearly decline in your existing fields and add the 3% growth".
For the Russians, who were also facing significant declines in their existing fields, access to advanced Western drilling technology offered the promise of exploiting otherwise difficult-to-reach areas in the Arctic and "tough" drilling environments elsewhere.
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