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Simulation development has moved away from much of the mainstream technology within the midsize oil companies making simulation development and use a commodity. This might suggest that there is little strategic value in developing in-house technology. However, Rex Tillerson, chairman and CEO of ExxonMobil Corp., illustrated the importance of simulation as part of their technology development. He stated, “Nearly fifty years ago, Exxon engineers applied a new mathematical technique for solving multiphase flow equations using the latest computer technology to simulate reservoir behavior … that revolutionary technology has been built upon, capitalizing on new modeling techniques and computing advances to better understand the full physics of multiphase fluid flow. It has been an evolutionary process in which ExxonMobil has dedicated more than 900 work years over the past 30 years” (New Era of Innovation 2012).

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