Report indicates U.S. has world’s largest recoverable oil reserves

Monday, July 11, 2016 12:45 pm EDT

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Lisa Davis, Member of the Managing Board, Siemens AG

Recent news of a study indicating that the United States has the world’s largest recoverable oil reserves highlights what we at Siemens have known for some time – unconventional oil and gas is here to stay.

While it’s clear that the U.S. is the place to be, the reality is that the current market remains tough – underscoring the need for new solutions and a clear strategy.

Siemens is using our leadership in electrification, automation and digitalization – with a focus on innovation – to make our customers more competitive as we help write the next chapter of America’s oil and gas revolution. Having added Dresser-Rand and Rolls-Royce Energy to our existing capabilities, Siemens has established a comprehensive portfolio as we seek to take advantage of this historic transformation – from compression and drives; to power generation and distribution; to process, automation and digital solutions.

We’re bringing more digital capabilities to the oil and gas industry, turning data into value – including with Sinalytics, our technology platform for digital services. We’re leveraging our experience in automation to drive productivity. And we’re using modularized and standardized solutions for onshore and offshore projects to reduce risk and cost.

The U.S. has 264 billion barrels of recoverable oil reserves, according to the new report. At Siemens, we will continue to be a trusted partner for the oil and gas industry – working to help our customers become more efficient; meet health, safety, security and environmental requirements; and maximize the value of investments.

Lisa Davis, Member of the Managing Board, Siemens AG, leads Siemens’ global oil and gas and power generation businesses. Davis is based in Siemens’ Oil & Gas Headquarters in Houston. She has responsibility for Siemens’ Power and Gas, Power Generation Services, and Wind Power and Renewables divisions.

 

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