Definition - What does Oil Technology mean?
Oil Technology is the techniques, knowledge and processes used to extract and refine crude oil and natural gas and edible oil from edible crop seeds. There are different technologies for extracting crude oil, gas and edible oil and they are being improved regularly with new inventions. Technology is used in all upstream, midstream and downstream operations and it covers a lot of topics like extraction and production, refining, transportation, distribution and safety etc.
Petropedia explains Oil Technology
Oil technology enables organizations in the petroleum industry to extract, refine, transport and distribute oil & natural gas so as to meet the rising demand around the world. Oil technologies are being improved regularly in order to increase the well production rate, improve the gross margins, and exploit the natural resources to the maximum by using chemical as well as environment-friendly enhanced oil recovery techniques. Advances in technologies used for oil extraction, well drilling and completions have enabled the energy industry to reach new sources of oil and natural gas. New technologies have also helped reduce the environmental impact of energy production by allowing more oil and gas to be produced with fewer wells.