What is your R&D worth?

"Advances in technology have been a major driver of E&P company profitability in recent years. Examples include accessing deepwater resources with complex reservoirs and reducing uncertainty through increased information sources from production operation. Even then overall R&D spend has not increased dramatically, since justifying the business case for technology development is very difficult for oil companies. As the industry moves towards another cost reduction cycle, senior management across the industry is once again under pressure to review spending in R&D and technology."

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