Open innovation expands technology

摘要

New contacts in new industries spark better applications of technology in the oilfield. According to the International Energy Agency, global energy demand will increase by 50% by the year 2030. To keep up with such a demand growth, technological innovations are required at a very fast pace. Open innovation, where expertise is used and adopted beyond disciplines, along with reapplication of technology well-known in one business to a completely different business holds the key to quantum leaps in technology. The case study discussed in this article demonstrates how both of these elements of open innovation can add a significant value to upstream. (For additional information on the concept of open innovation please see E&P January and August 2007 issues).