According to the article, 3D Printing in the Oil Field Kicks into Production Mode by Trent Jacobs, the evolution of 3D printers enable the companies in the oilfield service to deliver the better-revolutionized metal equipments faster and at a cheaper cost of production. On a small-scale analysis, a single 3D printer can produce 10-20 units on a daily basis. Since the machines are not flexible enough to make different sizes, they instead make sophisticated devices which are very expensive in the market. Some of the companies using the 3D printers produce efficient equipments and devices within the shortest time possible such as replacing a two-piece with a single piece component using 3D printing which reduces the period between the time the tool was ordered and the time of delivery which is economical in the long-term. Deciding the economic rationale for the component to be printed is also a major challenge. To prevent company losses during 3D printing, one should target a component that does not require a high production cost and also target the part that has a complex geometry. Most companies are planning to buy more 3D printers to increase the rate of production since technicians have not found a way of improving the building rates for the printed products. The printing companies are also looking for ways to improve the quality of the alloys used to print to make the equipments and devices flexible in as many markets as possible. This is because most of the equipments made through 3D printing lack tensile strength and are therefore not efficient in gas and oil industries. Examples of machineries and equipment that have been made through 3D printing include a 3D printing of a side bridge, a 3D printed composite pipe, a multiphase subsea pump and a filter for a downhole fluid analysis. The above mentioned equipments have been enhanced for better efficiency. The surface for the filter was increased hence making it cheaper and shortening the delivery time while the composite pipe was made stronger and lighter hence lowering the capital required for offshore oil projects. The 3D printed steel bridge has sophisticated structural designs hence can only be built through 3Dprinting.
Coming up with an economic evaluation for the 3D printing companies is important since it makes an analysis which aims to maximize the profits for the upcoming industry by improving the production process. From the economic analysis in the Journal of Petroleum Technology, the author of the article discusses ways in which the 3D companies are planning to increase their production costs. Given that the current technology does not allow for an increase in the building rate, most companies are advised to buy more 3D printers to increase their production rate. An economic evaluation is also needed in the industry because it helps in overcoming variations from the different companies using the 3D printing technique. The industry is planning to come up with standards to make sure that all companies are on the same level on the quality of production. Producing up to standard equipments will be part of the marketing strategy because good quality products attract more buyers. An economic evaluation also assists in maintaining the costs and managing demand. To maintain the production costs, which require tens of thousands of dollars of investments; companies need to produce a maximum of 100,000 units in a day. The cost of equipments made through 3D printing is mainly determined by the price of the 3D printers and not the feedstock. The company, however, has to make as much units as possible to meet the demand since 3D printed equipments are currently in demand. The industry also needs to conduct an economic evaluation incase the prices of the products need to re-bargained and reset since the companies involved in the project use a lot investment for the materials.
An example relating to the supply market in the article is the ability of the industry to deliver better equipment faster and at a cheaper price hence maximizing their products. Another example involving the supply market in the article is the discussion of production rate which suggests that the current production rate for the 3D printed equipment should be at most 100,000 units. An example of the demand market in the article is the discussion of the Enabler for Subsea Composite Technology. The equipment was to be delivered to a service company located in the Gulf of Mexico. Another example in the article relating to the demand is when the author is discussing ways of increasing the market. The company is planning to add more 3D printing production lines to the growing demands for the equipment. The final example involving the demand market in the article is the companies plans to increase the type of industries to venture into by discovering and testing new alloys that are more suitable compared to the currently powdered alloys.
The invention of a better form of metal alloy is likely to affect the value of money overtime. The current alloy used is not efficient and its negative effects overtime are still not known because the equipment has not been in the market long enough to know the effects. The companies need to determine the alloy's ability to withstand harsh conditions such as corrosion, high pressures and high temperatures. The research which involves discovering the perfect alloy that can withstand these harsh conditions other than having the power to withstand both compressive and tensile strength will require a lot of money hence may affect the price of the equipment overtime. Inventing such an efficient alloy to make the 3D printed equipment better will decrease the cost of production for the companies within the shortest time possible while enhancing the delivery time. The equipment is likely to be more expensive in the market because of the enhanced properties. The rise in the cost of equipment may also be attributed to the increased prices of the materials used due to the yearly increase in inflation rate. The article, however, has not discussed the economic implications of improving the alloy quality used by the 3D printers. It is, therefore not known whether improving the quality of alloy will increase or decrease the cost of the equipment produced although there is a possibility that an invention of the kind will produce cheaper and more efficient equipment in the market.
3D Printing in the Oil Field Kicks into Production Mode: from page 30 to page 36
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