Oil majors experiment with technology to weather crisis

Oil is not well: Crude prices have more than halved since mid-2014, forcing companies to cut billions of dollars in costs.

LONDON/OSLO:  Oil majors including Statoil, Shell and Chevron are experimenting with various technologies, from drones and drill design to data management, to drive down costs and weather a deep downturn.

Crude prices have more than halved since mid-2014, forcing companies to cut billions of dollars in costs. Determined to shield dividends and preserve the infrastructure that will allow them to compete and grow if the market recovers, they are increasingly looking to smarter tech and design to make savings.