A new CSIRO roadmap addresses the long-term needs of the Australian oil and gas industry, identifying how research and innovation can support this evolving sector.
CSIRO’s Oil and Gas: A Roadmap for unlocking future growth opportunities for Australia is the latest in a series of roadmaps outlining challenges and opportunities faced by a number of sectors, which have been developed as part of CSIRO’s Strategy 2020.
The CSIRO Oil and Gas Roadmap identifies strategic business, science and technology growth areas vital to the long-term success of the sector, taking into account relevant oil and gas megatrends.
Four pathways that are enabled by science and technology can help the sector address key challenges:
- Being more efficient in exploration and production to cost-effectively unlock resources
- Using digital and automated solutions to improve the economics of current assets
- Focusing on advanced environmental technologies to further minimise impacts on air and water, and
- Identifying business models and products that represent new revenue streams, for example diversifying into higher value products like hydrogen.
The Roadmap follows extensive consultation, led by CSIRO Futures and Energy divisions, including 80 representatives from industry, government and technology providers.
It is also aligned with the energy resources growth centre, National Energy Resources Australia (NERA) , matching key Roadmap focus areas with NERA’s knowledge priority areas.
CSIRO Chief Executive Dr Larry Marshall said that the Australian oil and gas sector has an opportunity to re-invent its future through innovation and improve its market position.
“CSIRO is uniquely placed to catalyse innovation for the oil and gas industry, given our expertise, track record and deep history of engagement across the sector,” Dr Marshall said.
“This Roadmap is a prime example of Strategy 2020 in action, putting the customer first with targeted science solutions to answer Australian industry’s most critical challenges.
“We believe this sector can continue to contribute to Australia’s future economic prosperity, which is why we’re investing not only in solving today’s challenges, but also in the breakthrough science we need for tomorrow’s solutions like our new Deep Earth Imaging.”
NERA Chief Executive Miranda Taylor said: “We are currently in a period of unprecedented technological disruption, and as global industries are shaped and formed through these advances, the oil and gas industry must keep pace,” Ms Taylor said.
“To capitalise on these opportunities, we must adopt bold thinking, challenge our beliefs around what makes us competitive and transform our approach to how we innovate.”
The Roadmap is the fifth in CSIRO’s Industry Roadmap series.
Read the report here: www.csiro.au/oil-and-gas