Production optimization is a term heard so frequently in the upstream oil and gas business today that it ought to qualify as a buzzword. This is for good reason, though, as production optimization is one of the most critical industry objectives in the coming decades. If the industry is to continue to meet world demand for cost-effective energy that will fuel economic growth, it will be essential to optimize current production - and slow the inevitable decline - from existing wells. The baseline situation is this: While there is much...

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