Study of Economic Indices of Technological Changes in Drilling Industry using the MRC Method

This research has been done in order to study economic aspects of technological changes in Horizontal Drilling methods especially MRC method in drilling for oil. In order to identify and evaluate related variables in both technological changes and economic indices, we used Vensim software to treat data collected during the time period of 2013 to 2017, in order to capture system dynamics. Data was collected through use of a questionnaire developed in consultation with drilling and economic experts. The study considered many constant variables. The study confirms positive growth in the technological changes of horizontal drilling especially via MRC method which, increased values of economic indices. JEL Classification: A1, L71, Q49, D25, O33 Keywords: Economic Aspects, Technology Changes, drilling Industry, System Dynamic, Vensim software, MRC