The fossil energy industry has always faced "unprecedented" challenges whether they relate to rates of successful discovery onshore in the industry's early days, the costs related to deep-sea exploration and development in a low oil price environment as today, or the environmental challenges related to liquids discharge or air emissions in a world increasingly focused on the social license to operate - for any industry. This URTeC paper highlights some relationships between these specific challenges and explores how the current emphasis on the license to operate in fact is also focusing attention on technologies and practices that advance the cost effectiveness and profitability of the industry itself.
GOT is a global technology network that convenes experts in the field of oil and gas R&D, and part of the IEA technology network building public-private partnerships and facilitating government-to- government dialogue (even for non-member countries). The initiative facilitates open discussions and idea exchange between stakeholders in the oil and gas industry as a clearinghouse for global and regional level insights, ideas and assessments.
In line with provisions in the IEA legal framework, GOT offers (as a global initiative in the Technology Network of the Agency) governments and sponsors from countries outside IEA to participate on equal footing with contracting parties and sponsors from member countries in IEA.
