Experts from major and independent oil companies estimate that production shut in for well integrity reasons ranges from 5% to 20% of their total production potential.
If you take global oil production at 93,000,000 bbl/day and the lowest of these percentages, this is equivalent to production from Canada or China and more than the entire production from Europe.
Even at $20/bbl this is equivalent to over $30,000,000,000 lost annually.
The prize for reducing these losses is enormous; application of well designed technology can make a very significant impact.
You can have a clear advantage in understanding your well integrity challenges using Empirica. You manage well risks whilst being sure your company does not unnecessarily contribute to global production losses.