--> Global Processes in the Petroleum Industry and Academia: A Geoscience Perspective, by Michael G. Loudin and N. R. Stewart; #90037 (2005)

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Global Processes in the Petroleum Industry and Academia: A Geoscience Perspective

Michael G. Loudin and N. R. Stewart
ExxonMobilExploration Company, Houston, TX

The petroleum industry has globalized nearly all of its processes over the last quarter century, and some Geoscience departments worldwide have begun to globalize their own processes as well.

The march of global processes in the petroleum industry was accelerated by expectations of cyclically varying product prices in an environment where costs would continue to rise. By and large, these expectations have been borne out. Industry processes have been heavily globalized in response, and affect everything we do, from how we hire and develop our people, to how we go about selecting acreage to lease and locations to drill. Results have been superb, and the petroleum industry's productivity levels have been redefined. Nevertheless, the industry still faces profound challenges, such as affordably finding significant new reserves, developing new fields at a sufficient pace to grow production, and better describing the complexity of existing reservoirs so we can maximize recovery. In addition, all of this will have to be done while the focus industry activities shifts from mature petroleum provinces to growth areas like Africa.

Geoscience Departments worldwide are facing their own profound challenges, too. Declining enrollments, declining governmental funding support, and aging faculties are unfortunately things we see in many Geoscience Departments that we visit globally. Nevertheless, we also see some departments that are still thriving because they are building globalized processes, most importantly those dealing with shared teaching venues and collaboration. We believe the long-term viability of Geoscience departments worldwide is dependent upon their development and utilization of global processes.