GPB Global Resources Discusses Oil Indstry Areas for Improvement
GPB Global Resources engages in oil exploration on an international basis. The firm operates out of Amsterdam in the Netherlands. The company also operates in Africa and South America. There are 54 countries in Africa. Each country has its own legal environment with respect to its natural resources. GPB Global Resources takes this into consideration when considering drilling operations. There are regional, national, and local laws to consider when seeking a license to operate.
GPB Global Resources also recognizes the physical challenges of drilling for oil and gas in remote regions of Africa. This often means there is little infrastructure in place that can support a drilling operation. Local political situations can also present challenges. A successful business partnership will consider developing a region’s infrastructure in areas where development can do the most good. Rebuilding an infrastructure can involve roads, power plants, new water systems, healthcare, and schools.
Major economies will continue to use oil and gas as major energy sources for the next 50 years. The goal of companies, like GPB Global Resources, is to find new methods for improving operations and long-term sustainability. Software improvements for geological modeling will also help improve drilling operations. Inspection and safety techniques are at the top of the list as well.
Boris Ivanov is the founder of GPB Global Resources. He believes that companies in the extraction business should all place greater emphasis on technology and research and development. This enables companies to properly address extraction environments and to attract and retain the very best talent. Oil and gas extraction companies will have to stay on top of new technology to remain competitive.
Companies must also stay on top of what happens with trade wars such as those that the U.S. and China choose to engage in. Boris Ivanov thinks that AI can impact the oil business. He also thinks that the industry will remain a relationship business for the most part.
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