Implementing emerging technologies in our operating assets and exploration efforts has enabled us to realize improvements in subsurface characterization, asset integrity, drilling, and decommissioning activities.
Access to these technologies is made possible through strategic third-party partnerships and investment in strategic startups. The ConocoPhillips Technology Exploitation group works closely with the business units to identify opportunities for technology advancement and application of existing technologies in innovative new ways. The group manages direct investment and provides business development expertise to small, external startups, both on its own and through Energy Technology Ventures, a joint venture with General Electric and NRG Energy. These efforts have facilitated a number of industry-first field trials and deployments of technologies that set the company’s performance apart from our peers and have provided strategic advantages.