Following an energized year, innovation is crucial for 2007 and beyond

Coming off of a year like 2006, it is difficult to expect the oil and gas market to get much better. Exploration and production activity will continue to be determined by global economics and political factors, but drilling and producing costs and technical performance play a key role, as well. Accordingly, future growth in the oilfield service industry will require renewed attention to several issues that have addressed successfully before, especially productivity improvement and new technology development.