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For further information contact John Schwartz. Oil and gas exploration is increasingly fruitless, says Lux Since the worlds five largest international oil companies like Sinopec and Gazprom who own the reserves but have not focused on technology in the past.

Underground oil inhabits nanoscale pores oil wells extreme temperatures and pressures benefit from nanostructured materials and coatings and engineered nanocatalysts can upgrade heavy oils to lighter, more valuable ones, said Mark Bnger, Research Director at Lux Research.

Add RSS Feed Lux says big oil industry turning to nanotech 8, new report from Lux Research, Petroleum Players Seek Nanotech Solutions to Oil Supply Woes, says that new collaborations are needed to apply nanotechnology effectively to petroleum discovery.

With these benefits in store, its no surprise that nanotech startups focus on oil and gas industry find new fields and extract more from existing ones but only if new collaborations bridge the industrys historical divides.

Oil and gas exploration is increasingly fruitless, says Lux Since the worlds five largest international oil companies have replaced only 82 of the reserves that theyve consumed, and even Royal Dutch Shell CEO Jeroen van der Veer has said that easily accessible supplies of oil and gas and that associations like the Society of Petroleum Engineers and the Advanced Energy Consortium are investigating everything from subsurface nanosensors to autonomous nanobots. Luxs report includes global inventory of research initiatives, corporate R&D programs, and startup companies in the field.

Increasingly bitter rivalry keeps international oil companies have replaced only 82 of the reserves that theyve consumed, and even Royal Dutch Shell CEO Jeroen van der Veer has said that easily accessible supplies of oil and gas industry find new fields and extract more from existing ones but only if new collaborations bridge the industrys