There is nothing new about the use of nanotechnology in the medical and manufacturing industries. Its use in oil and gas exploration, however, remains relatively unchartered territory. To date, geologists have relied on seismic data and 3D reservoir modelling to locate oil buried deep underground but, on average, around two thirds of these precious resources remain unrecovered because of the limitations of current technology.

Nanotechnology is being touted by scientists across the world as the potential saviour of the oil and gas industry.

As you will see in this issue's special report, nanoscale ‘robots' with the ability to penetrate far deeper than existing tools, could allow companies to access vast reserves that were previously inaccessible to them. On top of that, nanomaterials could soon be used to make advanced coatings for drill bits making them more durable and able to withstand higher temperatures as well as to manufacture stronger and lighter alloys which will help to reduce the weight of onshore and offshore equipment. Billions of dollars is being poured into research to develop the technology and to make it ready in time to halt the march towards the days of peak oil. Lack of investment in exploration technology and infrastructure has long been a barrier to the development of Russia's oil and gas industry. However, when it comes to nanotechnology, the companies cannot afford to restrict the investment that must be made into a tool that could prove invaluable to.

Another important topic discussed in this issue is the development of Yamal Peninsula which, some believe, holds the world's biggest reserves of natural gas. In this issue we report on the investment taking place there by Gazprom and how it is transforming this remote arctic outpost by creating a transport infrastructure and laying the foundations for vast gas plants. The majority of its resources are believed to be buried deep under the peninsula's permafrost in conditions that remain hostile for much of the year. With its numerous applications in the energy sector, nanotechnology could be the ultimate solution to tackling these challenges. And with this in mind there's no doubt the companies involved there should be making nanotechnology investment a key priority in 2010.