Technology strategies and innovation models of oil and gas corporations
The common trend of oil and gas corporations in the world today is to develop and apply technologies to improve the efficiency of using resources and energy, reduce emissions and minimise environmental impacts from production activities, while developing clean and renewable energy sources to gradually replace fossil energies and significantly reduce the demand for fossil feedstocks and energy. Innovation and deployment of new technological solutions, especially the breakthrough ones, are the main driving force behind this energy transition.
Oil and gas corporations focus on investing in innovation activities to meet the needs of the strong global energy transition and at the same time to improve their competitiveness. Simultaneously, the open innovation model has been gradually replacing the previous closed innovation model to mobilise global knowledge and accelerate the process of research, deployment, and commercialisation of technology as well as save investment costs, and improve the efficiency of innovation activities.
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