A survey of 250 oil and gas executives in 17 countries by the energy unit of Lloyd's Register shows one-third expect at least a 10% increase in spending on technology research & development as companies strive to improve operating margins by targeting three major areas of innovation, including operations efficiency, costs and safety.
"They've come out as three themes, but they're all interlinked," said John Wishart, group energy director for Lloyd’s Register Energy.
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