The World's Demand for Energy Continues to Grow
With the ever-growing population and the emerging economies around the world, the demand for energy is only expected to grow.
Currently over 50% of the world’s energy is produced with oil and gas. The demand for energy is expected to increase by 30% over the next 20 years and the production of oil & gas is expected to keep pace with the demand.
Doing this will require continued exploration and drilling. The oil and gas wells being drilled today are much deeper than those drilled 10 years ago. Rigs are often categorised by their drilling depth capabilities. The deepest category and most active is 20,000ft (6,100 meters) or greater. They do not just drill straight down. They also turn the drill bit and drill on a horizontal path, following the geological pay zone. The technology and equipment continues to improve to enable such a drilling process.
Our products being field tested on some of the key pieces of drilling equipment used on these rigs. For example the top drive, iron roughnecks and coil tubing injectors to name a few. These high spec rigs drilling today are running with a much smaller safety factor. It has been noted by rig superintendents that the equipment is being pushed to its limit causing excess wear. This situation is making it that much more important to have the best lubrication in the equipment that is considered to be the heart of the rig.