RPSEA details economic findings of 10-year oil and gas research program
In a report to the US Department of Energy, the Research Partnership to Secure Energy for America has outlined economic findings of its Ultra-Deepwater and Unconventional Natural Gas and Other Petroleum Resources Research Program.
HOUSTON– In a report to the US Department of Energy, the Research Partnership to Secure Energy for America (RPSEA) has outlined economic findings of its Ultra-Deepwater and Unconventional Natural Gas and Other Petroleum Resources Research Program.
The program was established pursuant to Title XI, Subtitle J, Section 999 of the Energy Policy Act of 2005.
More than 170 projects managed by RPSEA generated more than $150 billion in direct economic value from jobs, royalties and revenue, and yielded more than $40 billion in environmental damage mitigation, the organization announced.
RPSEA conducted the research in three program areas:ultra-deepwater architecture and technology, unconventional natural gas and other petroleum resources exploration and production technology, and technology challenges of small producers. Within the three research areas, RPSEA successfully managed 170-plus projects using $350 million for the DOE’s National Energy Technology Laboratory.
According to RPSEA President Tom Williams, the projects, several of which are already commercial, have resulted in improved safety, reduced environmental risk, and increased energy security.
“We are very proud of the success that RPSEA has achieved in providing commercially applicable technology enhancements to improve safety, environmental performance, and overall productivity,” Williams said. “RPSEA’s work has provided the nation with tremendous results with return on investment that helped the US become the global leader in oil production.”
Williams added: “Our report documents the most successful public-private partnership for oil and gas research and development in the US and lays the foundation for future endeavors to build upon this success. As RPSEA moves into the next phase of this partnership, we are well-positioned to tackle the greatest challenges facing the oil and gas industry and ensure the US will have a vibrant commercial energy future for years to come.”
RSPEA’s final report identified several areas where additional research can result in significant positive impacts on US oil and gas exploration and production. Offshore projects may address:
• Improved safety technology
• Reservoir characterization and IOR technologies
• Inspection technologies for infrastructure and facilities
• Riser life-cycle management systems
• Improvements in subsea flow assurance measurements and smart cementing
• Drilling fluids.