SLB has launched the ExaCT electrical downhole coiled tubing (CT) control system, an advanced intervention platform that introduces real-time electrical control to coiled tubing operations

By replacing pressure-dependent hydraulic actuation with electrical communication, power delivery and telemetry, the ExaCT system gives operators greater visibility, precision and control, helping improve intervention execution and reservoir access.

Complex demands

Well intervention is becoming more complex as reservoirs mature and well designs evolve. Extended-reach wells, multilaterals, and integrated operations demand more accuracy than traditional methods can deliver. Pressure-based actuation and mechanical sequencing often introduce uncertainty — making it harder to execute tasks at the right depth and time.

Without real-time visibility and control, operations become less efficient and more prone to NPT and missed objectives. Conventional approaches often require multiple runs and manual adjustments, increasing risk, cost, and variability — and limiting the ability to complete complex interventions in a single trip.

As the industry focuses on efficiency, repeatability, and performance certainty, precision and control are now essential. Real-time measurement, command, and actuation reduce uncertainty and help ensure every intervention achieves its full potential.

Precision and control

The ExaCT electrical downhole CT control system combines electrical power, telemetry and downhole measurements to deliver real-time precision, actuation and control for complex CT interventions. By replacing passive, pressure-dependent hydraulic actuation with active real-time electrical control the system helps operators to make informed decisions supported by continuous downhole feedback, emablong them to optimise reservoir access, improve production performance and maximise recovery.

The ExaCT system supports multiple services in a single run, including logging, stimulation, isolation and shifting operations – critical for extended-reach, multilateral and high-complexity wells. The platform enables real-time monitoring of downhole conditions and allows interventions to be adapted as conditions change, reducing the need for multiple runs while providing a foundation for increasingly automated intervention workflows.

Designed for harsh downhole conditions, including sour corrosive and high temperature environments, such as those in the Middle East, the ExaCT system improves execution confidence, reduces NPT and delivers more predictable outcomes through standardised, repeatable push-button workflows.

Results:

Field deployments of the ExaCT system across multilateral, extended-reach, and offshore intervention programmes have delivered measurable gains in execution time, cost, and reliability compared with conventional hydraulic systems:

• 30–40% faster intervention - The direction and inclination (D&I) and electrical multilateral module (eMLT) within the ExaCT access service completed multilateral entry and stimulation operations 30–40% faster than conventional methods.
• 15–20% lower operational costs - Electrical control within the ExaCT access service reduced repeat CT trips, lowering operational costs by 15–20% across field deployments.
• 30% faster offshore cleanout - Aker BP reduced offshore cleanout time by about 30%, or approximately 12 hours, using the ExaCT cleanout service in a depleted well offshore Norway.
• 20% less liquid and nitrogen use - Real-time mode switching with the ExaCT cleanout service reduced liquid and nitrogen consumption by about 20% compared with fixed, depth-based programs.

In one six-lateral well intervention, the ExaCT system reduced intervention time by approximately 175 hours, enabling operators to enter each lateral in about 12 minutes compared with six to eight hours using conventional hydraulic systems. The operation stimulated more than 21,000 feet of reservoir contact while reducing fluid consumption by more than 3,000 barrels.

“Operators are asking intervention systems to do far more than simply actuate downhole tools," said Frederik Majkut, president, Reservoir Performance, SLB. "Completion and production teams need continuous visibility, precise control and the flexibility to perform multiple services in a single run. The ExaCT system represents a fundamental shift to electrically controlled intervention, helping operators improve execution certainty, reduce intervention time and maximise reservoir access.”

Dr. Manar Al Moneef, scientist, capital architect and chief investment officer of NEOM shares learnings from twenty years of infrastructure investment in the Gulf

There is a common misconception about what makes large-scale infrastructure successful. Many assume success is determined when a project is announced, the business case is approved, or the financing is secured. In reality, the true test comes much later.

Every transformational project reaches moments when assumptions evolve, technologies advance, markets shift, and geopolitical realities change. The question is never whether circumstances will change — they always do. The question is whether the institution behind the project has the capability, discipline, and conviction to adapt while remaining committed to its long-term objective.

After more than twenty years working across infrastructure, energy, healthcare, investment, and economic development, I have come to believe that the greatest determinant of success is not the original forecast, the technology, or even the market opportunity. It is the strength of the institution behind the capital.

Projects that create lasting economic value rarely unfold exactly as planned. They succeed because they are supported by institutions capable of learning, adjusting, and continuing to execute without losing sight of their strategic destination.

That distinction matters because the Gulf’s development story is often misunderstood.

The region’s greatest achievement is not that it has launched ambitious projects. Many countries can do that. Its real achievement is building institutions capable of sustaining long-term ambition through economic cycles, technological transformation, and periods of global uncertainty.

The institutions behind long-term success

Much of the discussion around sovereign investment focuses on scale. While the Gulf’s sovereign institutions collectively manage trillions of dollars, scale alone does not explain the region’s ability to deliver transformational infrastructure. What differentiates successful institutions is their ability to think beyond market cycles while continuously creating long-term value. In my experience, three characteristics consistently distinguish institutions that endure:

Strategic clarity. Successful institutions maintain a clear long-term direction while remaining flexible in execution. Markets evolve, technologies improve, and priorities shift, but adapting the route does not require abandoning the destination.

Adaptive execution. Every major project evolves. New information emerges, better solutions become available, and economic conditions change. Strong institutions embrace these changes, improving execution without compromising strategic intent. Adaptability is not a departure from strategy—it is often what allows strategy to succeed.

Institutional commitment. Perhaps the most distinctive characteristic is the ability to sustain commitment over decades. Projects evolve, plans are refined, and priorities are reassessed, but the broader objective remains clear. That continuity enables infrastructure, industries, and capabilities whose value can only be realised over generations.
Together, these characteristics transform ambition into sustained execution.

Three examples of long-term execution

Across the Gulf, there are many examples of institutions demonstrating these principles.

Qatar’s North Field expansion provides a compelling example. The project required significant capital, long-term planning, and confidence in the future role of natural gas in global energy markets. More importantly, it required institutions willing to make decisions based on decades rather than quarterly performance.

Saudi Arabia’s electricity infrastructure is one of the strongest. Over several decades, the Kingdom has consistently invested in generation, transmission, and grid reliability to support industrialisation, urbanisation, and economic diversification. As demand increased and technologies advanced, the system continued to evolve. Today, it stands among the region’s most sophisticated power networks, providing the foundation for future economic growth.

The UAE’s Barakah Nuclear Energy Plant reflects the same institutional discipline. Building a nuclear programme required decades of planning, rigorous governance, technical excellence, and sustained commitment. Beyond generating electricity, Barakah demonstrates what institutions can achieve when they remain focused on a strategic objective while successfully managing complexity and risk.

Different countries. Different sectors. Different technologies. Yet they share the same underlying principle: long-term vision supported by institutions capable of sustained execution.
Vision creates direction. Institutions transform that direction into outcomes.

What this moment is teaching us

The world is navigating one of the most complex periods in recent history. Economic uncertainty, geopolitical tensions, technological disruption, demographic change, and rapidly evolving industries are reshaping the global economy.

In this environment, resilience has become one of the most valuable institutional capabilities. Not resilience as resistance to change. Resilience as the ability to adapt while maintaining direction.

The institutions that will define the next generation of economic growth are not those that attempt to predict every outcome perfectly. They are those capable of remaining disciplined in purpose, flexible in execution, and committed to creating long-term value despite uncertainty.

That is the lesson I have observed throughout my career.

Markets will change. Technologies will evolve. Assumptions will be challenged. The future will rarely unfold exactly as expected. But institutions built on strong governance, strategic clarity, and the ability to adapt without losing focus will continue to create value long after individual market cycles have passed.

Ultimately, the question is not whether projects will encounter challenges. Every meaningful project does. The question is whether the institution behind it has been designed to adapt, endure, and continue building through change.

Because that is how transformative infrastructure is delivered. That is how economies strengthen their foundations. And that is how nations turn long-term ambition into lasting prosperity.

The IEA has revised down both its oil supply and demand forecasts as renewed hostilities and Strait of Hormuz disruption have derailed the hoped for recovery in the oil markets

In its August Oil Market report, the IEA forecasts that world oil demand will decline by 1.6mn bpd in 2026, 510,000 bpd more than its previous forecast, thanks to the closure of the Strait of Hormuz and continuing high oil prices, although it predicts a return to growth in Q4 2026 and 2027.

Global oil supply rose by 2.4mn bpd to 101.5mn bpd in July, but remained 6.3mn bpd below levels of a year ago, with 8.3mn bpd of Gulf output still shut in. After increasing by 3.7mn bpd in June, Gulf oil production rose by a further 2.5 mn bpd in July to 23.9mn bpd, still 8.3mn bpd below pre-war levels. Regional exports fell by 2.1mn bpd to 15 mn bpd after the Strait was effectively closed once again and tankers came under attack. With no end to hostilities in sight, the IEA now estimates global oil supply to fall by 4.3 mn bpd in 2026, to 102 mn bpd, as growth of 1.4 mn bpd from the Americas only partly offsets losses in the Middle East and Russia.

Refinery crude throughputs increased in July but remained nearly 5mn bpd below last year’s levels, with continued Middle East product export disruptions and attacks on Russian refineries reducing 3Q run estimates by a further 370,000 bpd. Global throughput is now predicted to decline by 2.5mn bpd in 2026 and rebound by 3.5mn bpd in 2027. Diesel, jet fuel and gasoline markets are tightened as reduced Gulf and Russian exports coincide with rising summer travel demand.

Global oil inventories fell in July by 69mn bbl, with renewed disruption to exports from the Gulf and Caspian Sea. Oil stocks now stand at just below 7.9 bbl bbl, down by 2.7mn bpd on average, for the first time since April 2025.

The global oil balance is now expected to show a deficit of 1.8 mn bpd in 3Q26, more than double the estimate of around 800,000 bpd in last month’s Oil Market Report.

“Although the market is projected to return to surplus towards the end of this year, risks remain substantial and the urgency of reopening the Strait has increased, as previously available inventory buffers are rapidly depleting,” the IEA warns.