Saudi Aramco Committed To Advance New E&P Technologies.
Buraik addressed the issue of alternative energy sources such as nuclear, solar and biofuel, and the challenges and safety aspects going along with each source. He stated that hydrocarbon resources would remain the most reliable source. Responding to concerns about the ever-increasing global demand for energy, Buraik said: "The estimate of global un-conventional gas in place was about 35,000 TCF, compared to only 6,400 TCF of currently proven conventional gas.
Highlighting the role of artificial lift technologies, Buraik said that, while they have been used for 100 years, the techniques have remained the same, and advancing them required collaborative efforts between stake-holders. He explained: "First is to upgrade the current technology to the next generation in development, and the second is to come up with an iPad-like artificial lift technology. I believe it is a shared responsibility between the technology designers and manufacturers, and the operators. I can assure suppliers and service companies that you do not carry this responsibility alone".
Buraik spoke of Saudi Aramco's commitment to embracing new technologies with current and new partners to come up with solutions to global energy challenges. Saudi Aramco's long experience in establishing win-win partnerships could help foster further technological collaborations. He added: "I am personally interested in collaborating with...(other firms) to develop new artificial lift ideas and I can pledge my willingness to discuss these ideas and make the efforts needed to bring them to reality".