Offshore oil and gas production is key to meeting global and domestic demand. Globally, offshore drilling accounts for less than 5 percent of the world’s wells, yet it accounts for nearly 30 percent of total global oil production. Further, as new offshore discoveries come online, the volume of domestic oil and gas production from the Gulf of Mexico is forecast to increase significantly in the near term.*
In response to this increase in production, NETL researchers are developing technologies and advanced analytics to equip oil-and-gas decision makers with the tools and data they need to reduce costs and reduce risk.
NETL is using Advanced Spatio-Temporal Analytics, Big Data Computing, and Machine Learning to predict, prepare for, and prevent offshore costs and risk.