 "Oil & gas industry turn to 3D printing to cut costs and raise efficiencies")
Under pressure to keep up profits in the face of low oil prices, the old-school oil and gas industry is turning to the new-school technology of 3D printing, according to Lux Research.
“3D printing holds promise for the oil and gas industry, but the industry needs to change its culture and learn to integrate 3D printing into its complex supply chain in order to fully benefit. It can take lessons from successful adopters, notably from GE’s acquisitions and successful implementation of 3D printing for mass production,” said Harshit Sharma, Lux Research associate and lead author of the report titled, ‘Assessing the opportunity of additive manufacturing for the oil and gas industry’.
Lux Research analysts created value and suitability metrics for 12 specific use cases for 3D printing in the oil & gas industry. As per its findings, some use cases are lucrative. Profitable use cases include 3D printing chemical injection stick tools and nozzles for downhole cleanout tools.
According to Lux Research, collaboration is key to technology hurdles. Partnerships are key to overcoming technological barriers in the short term. Oil and gas companies should engage with metal printing companies such as EnergyX and Arevo for developing new printing techniques for use cases like liner hanger spikes. For drill bits, candidate partners include Nanosteel and QuesTek Innovations.
Oil & gas executives cite industry size and structure, risk aversion, and lack of infrastructure as key reasons for slow adoption of 3D printing. However, the success of 3D printing in the automotive and aerospace industries shows these factors are not insurmountable barriers, and the oil & gas industry’s growing focus on operational efficiency is driving change.
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