"Like it or not, the world’s thirst for energy isn’t going to let up any time soon. On the contrary, according to the International Energy Agency (IEA), global demand will roughly double by 2050 driven largely by the expanding economies in Asia, but also in Africa and parts of South America.
As the world demands more energy, the oil industry is taking on new, harder-to-access hydrocarbon reserves — including unconventional ones such as North American shale that have become economically feasible to develop in recent years — while at the same time seeking to extend the working life of existing assets to maintain output. This in turn has put a firm focus on asset integrity, making it a top priority for many operators around the globe."
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