Management Of Implementation Of Nanotechnology On Upstream...

Management of implementation of nanotechnology in upstream oil industry: An analytic hierarchy process analysis Pouyan Motamedi1*, Hasan Bargozin2, Peyman Pourafshary3 1 Department of Chemical and Materials Engineering, University of Alberta, Edmonton Alberta, Canada 2 Department of Chemical Engineering, University of Zanjan, Zanjan, Iran 3 Department of Petroleum and Chemical Engineering, Sultan Qaboos University, Muscat, Oman Abstract Nanotechnology has had revolutionary effects in various fields of industry such as electronics, pharmaceuticals, and biomaterials. However, upstream oil industry has been noticeably slow in adopting the emerging technologies. This is most likely due to the exceptionally large investments needed to†¦show more content†¦Finally, using a decision-making software, a dynamic analytic hierarchical process analysis was performed, providing a route to customized investment policies. Introduction It has been predicted that the world energy demand will experience a 2-3% annual increase rate, accumulating to 50% in two decades [1]. It is expected that this increase in demand more than compensate the contribution of alternative and renewable energy sources to the total energy market [1–3]. In other words, traditional hydrocarbon sources are believed to remain the dominant source of energy for the foreseeable future. Considering the shrinking size of the available sources, meeting this demands will be a major challenge in oil and gas industry. In spite of the significant capital investments in the industry, meeting the increasing global demand requires implementation of the emerging technologies in the oil and gas industry. In other words, efficiency of the exploration and development of new resources needs to be dramatically improved in the next two decades [4]. High risks associated with adoption of innovative technologies has slowed down the rate of research and development in oil industry [5]. A review of the role of research and development in various sectors of technology reveals that upstream oil industry needs a higher