woodmac in A Sentence

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    Woodmac estimated the industry could save up to $12 billion a year on drilling, mostly in onshore and shallow waters.

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    In offshore drilling, where rig rates tend to drive costs, the industry overall might be able to use rigs for 2,000 fewer days through more digitalization and automation, Woodmac said.

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    In offshore drilling, where rig rates tend to drive costs, the industry overall might be able to use rigs for 2,000 fewer days through more digitalisation and automation, Woodmac said.

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    In a report on how technology can be used for these tasks and potential savings, Wood Mackenzie(Woodmac) said many firms could spend less by buying technology and know-how from outside of the industry.

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    Research firm Woodmac sees a rise in the use on ships of“scrubbers”, the equipment to clean up sulphur emissions, before the International Maritime Organization imposes new rules from Jan. 1 2020 to limit sulphur content in fuel.

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