Demand for drilling rigs declines - Ramin Isayev


October 16, Fineko/abc.az. Rising costs are one of the main challenges we encounter in the development of the oil & gas industry.

ABC.AZ reports that the relevant statement was made by SOCAR AQS’ head Ramin Isayev at the Caspian Technical Conference SPE in Baku.

Touching the problems in this sector, the SOCAR representative also spoke about ways to eliminate it: "Currently, the demand for drilling rigs is declining. How can our industry resist those challenges? First, profitability in the sector should be increased, sustainability and stability must penetrate in our industry. We can regulate all that by increasing the productivity of companies. As I’ve already noted, another fact is the sustainability that is now applied in the industry. Time is also really an important factor for us. We talked about digitalization here. That's not really news. The first digitalization in this sector was applied in the 80s. But digitalization isn't just about technology. True, technology can help us a lot in productivity. But artificial intelligence, a computer can never completely replace a human."

By Elmir Murad