scholarly journals Application of Integrated Modeling in the Oil and Gas Industry

2020 ◽  
Vol 20 (4) ◽  
pp. 386-400
Author(s):  
Evgeny V. Filippov ◽  
◽  
Gennady N. Chumakov ◽  
Inna N. Ponomareva ◽  
Dmitry A. Martyushev ◽  
...  
Keyword(s):  
Input Data ◽  
Oil And Gas ◽  
Synergetic Effect ◽  
Oil Production ◽  
Oil And Gas Industry ◽  
Gas Production ◽  
Production Optimization ◽  
Production Costs ◽  
Production Chain ◽  
Asset Development

The present stage of the oil industry development is characterized by a growing share of hard to reach reserves, the amount of complicated well stock, oil production costs and increasing requirements to production accounting accuracy, implementation of energy-efficient and resource-efficient technologies for development and production, in conditions of the multifactorial evaluation of asset development prospects a problem of the asset intellectualization is a priority. Within this problem, automation and implementation of integrated approaches to production optimization, prevention and control of difficulties, effective asset development management both on operative and long-term levels are considered. At present, a complex and effective tool in resolving the problem is an integrated model, i.e. a model of a well production process (oil, gas, water), including all production chain elements in the form of consequential component models. An integrated simulation is effectively used in operational activities of LUKOIL-PERM LLC and is an optimal tool to solve multidisciplinary tasks in field development and technology of oil and gas production, transportation and processing (using software by Petroleum Experts company). Experience of implementing the integrated simulations suggests a synergetic effect related to a need in developing associated aspects manifesting themselves by improvement of skills of the specialists, improvement of input data quality and increase of input data volume, improvement of separate component quality during their integration. A set of actions developed and substantiated using the integrated simulations and their separate components resulted in obtaining some additional oil production over 21.9 thou. t.

scholarly journals Utah

2020 ◽  
Vol 6 (3) ◽  
Author(s):  
Mark Burghardt ◽  
Gage Hart Zobell
Keyword(s):  
Crude Oil ◽  
Oil And Gas ◽  
Oil Production ◽  
Oil And Gas Industry ◽  
Legal Framework ◽  
Gas Production ◽  
Mandatory Reporting ◽  
Gas Industry ◽  
Oil And Gas Production ◽  
Crude Oil Production

Oil and gas production continues to be an important sector of Utah’s economy. Following a 25% loss in production between 2014 and 2015, Utah’s production continues to slowly rebound. Crude oil production in 2019 appears to be slightly ahead of 2018 production. Monthly production averages slightly over three million barrels, placing Utah among the top ten states in crude oil production. Along with the continuing increase in production, the state’s legal framework governing oil and gas continues to develop. This Article examines recent changes in Utah statutes and regulations along with new case law developments involving the oil and gas industry. In particular, this Article discusses a recent federal bankruptcy decision involving midstream agreements, the revision to a Utah statute that now requires mandatory reporting of unclaimed mineral interests, and recent revisions to Utah’s oil and gas regulations.

scholarly journals Financial Performance Analysis Before and After the Decline in Oil Production: Case Study in Indonesian Oil and Gas Industry

2018 ◽  
Vol 7 (3.21) ◽  
pp. 10
Author(s):  
Wiwiek Mardawiyah Daryanto ◽  
Dety Nurfadilah
Keyword(s):  
Financial Performance ◽  
Oil And Gas ◽  
Oil Production ◽  
Oil And Gas Industry ◽  
Gas Production ◽  
Gas Industry ◽  
Oil And Gas Production ◽  
Return On Equity ◽  
Financial Condition ◽  
Before And After

Indonesia’s oil and gas industry is the huge contributor to government export revenues and foreign exchange and contributes a substantial amount to state revenue. However, the total of oil production declined around 4,41% per year since 2007, and the sharpest decline was in 2013. This situation gives impact to the performance of oil and gas industry, especially government revenues. Therefore, the purpose of this study is to measure the financial performance of Oil and Gas Industry and to examine the significance differences between the financial performance before and after the decline in oil and gas production. The data were collected from financial report and the period was divided into two periods, before the decline in production (2011 – 2012) and after the decline in production (2014 – 2015). Paired sample t-test and financial ratio analysis (FRA) were used to analyzed the data. The finding shows that the largest oil and gas company in Indonesia is still in good financial condition, although it gained loss. In addition, current ratio and return on equity had significance difference during the period of before and after a decline in oil and gas production. The authors believe that the findings will be helpful for managers who continuously attempt to explore opportunities to provide a higher return. 

Designing Oil and Gas Exploration Strategy For The Future National Energy Sustainability Based on Statistical Analysis of Commercial Reserves and Production Cost in Indonesia

2018 ◽  
Vol 1 (1) ◽  
pp. 66-81
Author(s):  
Ahmad Abdul Azizurrofi ◽  
Dian Permatasari Mashari
Keyword(s):  
Production Cost ◽  
Oil And Gas ◽  
National Level ◽  
Oil Production ◽  
Gas Production ◽  
Oil Price ◽  
Production Costs ◽  
Energy Investment ◽  
Oil And Gas Production ◽  
The Future

Indonesia's declining oil production and rising domestic oil consumption have been a big issue for the last few decades which has turned Indonesia into a net oil importer from 2004 onward. The lack of exploration activities and other investments in oil and gas sector have resulted in the decline of Indonesia's oil production. This condition is a result of the plunge of global oil price which has fallen to its lowest level, i.e., US$43.14/Bbl (average oil price in 2016) over the last 12 years. The purpose of this paper is to analyze the distribution of oil and gas production in Indonesia along with the production cost. This analysis will allow investors to find and map working areas in Indonesia with potential commercial reserves while maintaining the lowest possible production costs. The approach of this empirical study is to divide Indonesia into 6 (six) geographical areas, namely Sumatera, Natuna Sea, Java, Kalimantan, Sulawesi and Papua. We have collected relevant data about commercial reserves and production cost from existing working areas. Our preliminary results depict that Kalimantan has the highest commercial reserves (i.e., 18.60 MMBOE per contract area) and Papua has the lowest production cost (i.e., US$3.24/BOE). Sulawesi, meanwhile, has the lowest commercial reserves (i.e., 5.39 MMBOE/Contract Area) and Natuna has the highest production cost (i.e., US$16.46/BOE). In summary, this study has shown that Eastern area of Indonesia might hold more oil and gas reserves which can be further managed by Contractor for the benefit of the Country. This study also recommends the Government of Indonesia to be aware of the condition of each working areas to maintain a sustainable oil and gas production on a National level and create attractiveness for investors in the future. Keywords: Commercial reserves, cost per barrel, energy, investment, production cost, working areas.

scholarly journals Intelligent Technologies in the Oil and Gas Industry

2019 ◽  
Vol 105 ◽  
pp. 01003
Author(s):  
Sergey Milyushenko
Keyword(s):  
Oil And Gas ◽  
New Technologies ◽  
Oil And Gas Industry ◽  
Gas Production ◽  
Production Costs ◽  
Gas Industry ◽  
Oil And Gas Production ◽  
Field Development ◽  
Oil And Gas Resources ◽  
Smart Technologies

The article is devoted to the discussion of improving the quality of oil and gas production, through the introduction of new technologies for the extraction and processing of natural resources. As well as to the procedure, which aims to ensure the increase in the volume of mineral resource (liquid hydrocarbons) and to optimization of production costs in modern enterprises of oil and gas industry. The development of “smart” technologies in the oil and gas industry is mainly associated with a reduction in proven oil and gas resources in the Russian Federation. However, there are oil and gas reserves in places with an unfavorable climate, which significantly increases the cost of developing such deposits. For solving this problem, the “smart” technology “Smart Field” development is proposed.

Well Placement Technique and Production Optimization for Mature Field - A Case Study of L-X Field

2020 ◽  
Vol 46 ◽  
pp. 168-179
Author(s):  
Patrick Nwafor ◽  
Kelani Bello
Keyword(s):  
Oil And Gas ◽  
Optimization Technique ◽  
Optimal Solution ◽  
Oil And Gas Industry ◽  
Optimization Method ◽  
Simulation Software ◽  
Production Optimization ◽  
Direct Optimization ◽  
Well Placement ◽  
Local Optimal Solution

A Well placement is a well-known technique in the oil and gas industry for production optimization and are generally classified into local and global methods. The use of simulation software often deployed under the direct optimization technique called global method. The production optimization of L-X field which is at primary recovery stage having five producing wells was the focus of this work. The attempt was to optimize L-X field using a well placement technique.The local methods are generally very efficient and require only a few forward simulations but can get stuck in a local optimal solution. The global methods avoid this problem but require many forward simulations. With the availability of simulator software, such problem can be reduced thus using the direct optimization method. After optimization an increase in recovery factor of over 20% was achieved. The results provided an improvement when compared with other existing methods from the literatures.

How Digital Transformation Improves Perceptions of Oil and Gas Industry

2020 ◽  
Vol 72 (12) ◽  
pp. 33-33
Author(s):  
Chris Carpenter
Keyword(s):  
Digital Technology ◽  
Public Perception ◽  
Business Models ◽  
Oil And Gas ◽  
Digital Technologies ◽  
Oil And Gas Industry ◽  
Production Optimization ◽  
Petroleum Engineering ◽  
Co2 Injection ◽  
The Impact

The final afternoon of the 2020 ATCE saw a wide-ranging virtual special session that covered an important but often overlooked facet of the unfolding digitalization revolution. While the rising wave of digital technology usually has been associated with production optimization and cost savings, panelists emphasized that it can also positively influence the global perception of the industry and enhance the lives of its employees. Chaired by Weatherford’s Dimitrios Pirovolou and moderated by John Clegg, J.M. Clegg Ltd., the session, “The Impact of Digital Technologies on Upstream Operations To Improve Stakeholder Perception, Business Models, and Work-Life Balance,” highlighted expertise taken from professionals across the industry. Panelists included petroleum engineering professor Linda Battalora and graduate research assistant Kirt McKenna, both from the Colorado School of Mines; former SPE President Darcy Spady of Carbon Connect International; and Dirk McDermott of Altira Group, an industry-centered venture-capital company. Battalora described the complex ways in which digital technology and the goal of sustainability might interact, highlighting recent SPE and other industry initiatives such as the GAIA Sustainability Program and reviewing the United Nations Sustainable Development Goals (SDGs). McKenna, representing the perspective of the Millennial generation, described the importance of “agile development,” in which the industry uses new techniques not only to improve production but also to manage its employees in a way that heightens engagement while reducing greenhouse-gas emissions. Addressing the fact that greater commitment will be required to remove the “tougher two-thirds” of the world’s hydrocarbons that remain unexploited, Spady explained that digital sophistication will allow heightened productivity for professionals without a sacrifice in quality of life. Finally, McDermott stressed the importance of acknowledging that the industry often has not rewarded shareholders adequately, but pointed to growing digital components of oil and gas portfolios as an encouraging sign. After the initial presentations, Clegg moderated a discussion of questions sourced from the virtual audience. While the questions spanned a range of concerns, three central themes included the pursuit of sustainability, with an emphasis on carbon capture; the shape that future work environments might take; and how digital technologies power industry innovation and thus affect public perception. In addressing the first of these, Battalora identified major projects involving society-wide stakeholder involvement in pursuit of a regenerative “circular economy” model, such as Scotland’s Zero Waste Plan, while McKenna cited the positives of CO2-injection approaches, which he said would involve “partnering with the world” to achieve both economic and sustainability goals. While recognizing the importance of the UN SDGs in providing a global template for sustainability, McDermott said that the industry must address the fact that many investors fear rigid guidelines, which to them can represent limitations for growth or worse.

A Step Change in the Digital Oilfield Arena: Cloud Computing and Workflow Integration for Production Operations Solutions

2021 ◽  
Author(s):  
Aditya Kotiyal ◽  
Guru Prasad Nagaraj ◽  
Lester Tugung Michael
Keyword(s):  
Oil And Gas ◽  
Dimensional Change ◽  
Oil And Gas Industry ◽  
Gas Production ◽  
System Stability ◽  
Production Data ◽  
Oil And Gas Production ◽  
Common Domain ◽  
Digital Oilfield ◽  
Workflow Orchestration

Abstract Digital oilfield applications have been implemented in numerous operating companies to streamline processes and automate workflows to optimize oil and gas production in real-time. These applications are mostly deployed using traditional on-premises systems; where maintenance, accessibility and scalability serves as a major bottleneck for an efficient outcome. In addition to this challenge, the sector still faces limitations in data integration from disparate data sources, liberation of consolidated data for consumption and cross domain workflow orchestration of that data. The dimensional change brought by digital transformation strategies has paved a path for the Cloud- based solutions, which have recently gained momentum in the oil and gas industry pertaining to their wider accessibility, simpler customization, greater system stability and scalability to support larger amount of data in a performant way. To address the challenges mentioned earlier, we have embarked on a journey with Production Data Foundation which brings together production and equipment data from across an organization. In this paper, we will highlight how Production Data Foundation, hosted on the cloud, provides the underlying infrastructure, services, interfaces required to support and unify production data ingestion, workflow orchestration, and through the alignment of the common domain and digital concepts, improve collaboration between people in distinct roles, such as production engineers, reservoir engineers, drilling engineers, deployment engineers, software developers, data scientists, architects, and subject matter experts (SME) working with production operations products and solutions.

Who Is Winning in Energy Transition?

2021 ◽  
Vol 73 (06) ◽  
pp. 34-37
Author(s):  
Judy Feder
Keyword(s):  
Alternative Energy ◽  
Oil And Gas ◽  
Peer Group ◽  
Energy Transition ◽  
Oil And Gas Industry ◽  
Gas Production ◽  
Business Strategies ◽  
Field Energy ◽  
Carbon Intensity ◽  
Oil Companies

We talk about “the energy transition” as if it were some type of unified, global event. Instead, numerous approaches to energy transitions are taking place in parallel, with all of the “players” moving at different paces, in different directions, and with different guiding philosophies. Which companies are best positioned to survive and thrive, and why? This article takes a look at what several top energy research and business intelligence firms are saying. What a Difference a Year Makes Prior to 2020—in fact, as recently as the 2014 bust that followed the shale boom—the oil and gas industry weathered downturns by “tightening their belts” and “doing more with less” in the form of cutting capital expenditures and costs, tapping credit lines, and improving operational efficiency. Adopting advanced digitalization and cognitive technologies as integral parts of the supply chain from 2015 to 2019 led to significant performance improvements as companies dealt with “shale shock.” Then, in 2020, a strange thing happened. Just as disruptive technologies like electric vehicles and solar photovoltaic and new batteries were gaining traction and decarbonization and environmental, social, and governance (ESG) issues were rising to the top of global social and policy agendas, COVID-19 left companies with almost nothing to squeeze from their supply chains, and budget cuts had a direct impact on operational performance and short-term operational plans. To stabilize their returns, many oil and gas companies revised and reshaped their portfolios and business strategies around decarbonization and alternative energy sources. The result: The investment in efforts toward effecting energy transition surpassed $500 billion for the first time in early 2021 ($501.3 billion, a 9% increase over 2019, according to BloombergNEF) despite the economic disruption caused by COVID-19. According to Wood Mackenzie, carbon emissions and carbon intensity are now key metrics in any project’s final investment decision. And, Rystad Energy said that greenhouse-gas emissions are declining faster than what is outlined in many conventional models regarded as aggressive scenarios. In Rystad’s model, electrification levels will reach 80% by 2050. A Look at the Playing Field: Energy Transition Pillars In a February 2021 webinar, Rystad discussed what leading exploration and production (E&P) companies are doing to keep up with the energy transition and stay investable in the rapidly changing market environment. The consulting firm researched the top 25 E&P companies based on their oil and gas production in 2020 and analyzed how they approach various market criteria in “three pillars of energy transition in the E&P sector” that the firm regards as key distinguishers and important indicators of potential success (Fig. 1). The research excludes national oil companies (NOCs) except for those with international activity (INOCs). Rystad says these 25 companies are responsible for almost 40% of global hydrocarbon production and the same share of global E&P investments and believes the trends within this peer group are representative on a global scale.

Challenges and Opportunities for Green Hydrogen Power Supply in Oil and Gas Remote Facilities

2021 ◽  
Author(s):  
Salvador Alejandro Ruvalcaba Velarde
Keyword(s):  
Renewable Energy ◽  
Power Supply ◽  
Oil And Gas ◽  
Hydrogen Generation ◽  
Oil And Gas Industry ◽  
Gas Production ◽  
Energy Carrier ◽  
Low Carbon ◽  
Cost Constraints ◽  
Supply Systems

Abstract The energy transition to renewable energy and hydrogen as an energy carrier, along with low-carbon footprint production targets in the oil and gas industry act as a catalytic for exploring the role of hydrogen in oil and gas production. For upstream and midstream operations, potential opportunities for using hydrogen as an energy carrier are being developed both in hydrogen generation (X-to-hydrogen) as well as in hydrogen consumption (hydrogen-to-X), but not without series of technical and economical challenges. This paper presents potential use cases in upstream and midstream facilities for hydrogen generation and consumption, be it both from hydrocarbon processing resultant in what is called "blue hydrogen" or from integration with renewable energy to form what is called "green hydrogen". It also explains process integration requirements with diagrams for full-cycle green hydrogen use from generation to consumption and its interaction with renewable energy technologies to achieve low to zero-carbon emission power supply systems. Different hydrogen generation and conversion technologies are reviewed as part of the modeling process. Green hydrogen feasibility is assessed in terms of operational efficiency and cost constraints. Hybrid hydrogen and renewable energy power supply systems are simulated and presented according to the intended applications of use in oil and gas facilities. This paper provides a feasibility analysis and hydrogen technology integration potential with renewable energy for applications in oil and gas remote facilities power supply. It also shows emerging hydrogen technologies potential for use in upstream and midstream applications.

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