Intellectual property in the petroleum production and exploration sector—the other hidden asset

2015 ◽  
Vol 55 (2) ◽  
pp. 447
Author(s):  
Tim O'Callaghan
Keyword(s):  
Intellectual Property ◽  
Joint Venture ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Petroleum Exploration ◽  
Sensitive Material ◽  
Gas Industry ◽  
Production Sector ◽  
Intellectual Property Management ◽  
Exploration And Production

According to IBISWorld (2013), 7.7% of Australia’s A$11 trillion assets are natural resources and 5.4% is intellectual property. Despite this intellectual property is overlooked as a valuable asset in the oil and gas industry. As the means of extraction become more complex, the methods and tools needed for the purpose can give one company an edge over another. Intellectual property rights help to protect that competitive advantage. Companies need to have a strategy for the early identification, management and protection of this asset. Customers, contractors and joint venture partners can create intellectual property ownership issues that must also be identified and properly managed. This extended abstract provides: a framework for establishing a robust intellectual property management strategy for companies in the exploration and production sector; identification of key intellectual property assets of businesses in the sector; a review of industry specific challenges, such as the requirement under WA’s Petroleum and Geothermal Energy Resources (Environment) Regulations 2012 to disclose trade secrets and commercially sensitive material about downhole substances; and, consideration of model agreements used in the sector, such as the AMPLA Model Petroleum Exploration Joint Operating Agreement.

BUSINESS AND TAX ISSUES FOR PETROLEUM EXPLORATION AND DEVELOPMENT COMPANIES INVESTING IN THE UNITED STATES OF AMERICA

1991 ◽  
Vol 31 (1) ◽  
pp. 494
Author(s):  
Catherine A. Hayne
Keyword(s):  
United States ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
The United States ◽  
Detailed Examination ◽  
Petroleum Exploration ◽  
Gas Industry ◽  
Oil And Gas Exploration ◽  
Corporate Executives ◽  
Exploration And Production

Oil and gas exploration and production opportunities in the United States represent possibilities for investment by Australian petroleum companies in the 1990s. This paper focuses on the unique characteristics of the oil and gas industry, and is intended as an entrepreneurial guide to some of the practical business and tax issues which corporate executives will confront when proposing to do business in the United States. It provides a detailed examination of the key issues, but, due to the complexity of United States and Australian laws, this paper should not be used as a substitute for detailed advice.

NORM IN THE OIL AND GAS INDUSTRY— EXPOSURE ASSESSMENT AND MANAGEMENT PLAN

2001 ◽  
Vol 41 (1) ◽  
pp. 737
Author(s):  
E. Akarsu ◽  
D.J. Hamilton ◽  
D.C. Tyler
Keyword(s):  
Exposure Assessment ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Management Plan ◽  
Radioactive Material ◽  
Petroleum Exploration ◽  
High Concentration ◽  
Gas Industry ◽  
Exploration And Production ◽  
Environment Protection Authority

Naturally Occurring Radioactive Material (NORM) is an inevitable by-product of petroleum exploration and production. It is produced with the reservoir fluids and is typically found in low concentrations, but potentially high volumes. However, Victorian regulations that cover NORM are based on acceptable public exposure to ionising radiation and appear to be formulated around high concentration, low volume sources such as those found in medical procedures.Esso Australia Pty Ltd conducted a comprehensive exposure assessment study to establish limits for NORM. The two-year study was carried out in conjunction with the regulators (Victorian Environment Protection Authority, Department of Human Services, and Australian Radiation Protection and Nuclear Safety Agency) and included other key stakeholders like employees and suppliers.This paper provides a discussion of the management plans for, and the results of, assessments undertaken to quantify any potential risk of handling and disposing of NORM material in the environment. The assessments demonstrate that exposure to NORM released into the environment from Bass Strait oil and gas operations does not present a radiological hazard to workers, the general public, or ecological receptors. In fact, it represents less than 1% of Australian and internationally accepted limits for such exposure.

Trends and Prospects of Development of the Oil and Gas Sector in the Context of Digitalization

2020 ◽  
Vol 26 (1) ◽  
pp. 35-45 ◽  
Author(s):  
A. G. Kazanin
Keyword(s):  
Oil And Gas ◽  
Digital Technologies ◽  
Oil And Gas Industry ◽  
Global Market ◽  
The Arctic ◽  
Business And Society ◽  
Gas Industry ◽  
Exploration And Production ◽  
Oil And Gas Sector

The modern oil and gas industry is heavily dependent on the processes and trends driven by the accelerating digitalization of the economy. Thus, the digitalization of the oil and gas sector has become Russia’s top priority, which involves a technological and structural transformation of all production processes and stages.Aim. The presented study aims to identify the major trends and prospects of development of the Russian oil and gas sector in the context of its digitalization and formation of the digital economy.Tasks. The authors analyze the major trends in the development of the oil and gas industry at a global scale and in Russia with allowance for the prospects of accelerated exploration of the Arctic; determine the best practices of implementation of digital technologies by oil and gas companies as well as the prospects and obstacles for the subsequent transfer of digital technologies to the Russian oil and gas industry.Methods. This study uses general scientific methods, such as analysis, synthesis, and scientific generalization.Results. Arctic hydrocarbons will become increasingly important to Russia in the long term, and their exploration and production will require the implementation of innovative technologies. Priority directions for the development of many oil and gas producers will include active application of digital technologies as a whole (different types of robots that could replace people in performing complex procedures), processing and analysis of big data using artificial intelligence to optimize processes, particularly in the field of exploration and production, processing and transportation. Digitalization of the oil and gas sector is a powerful factor in the improvement of the efficiency of the Russian economy. However, Russian companies are notably lagging behind in this field of innovative development and there are problems and high risks that need to be overcome to realize its potential for business and society.Conclusions. Given the strategic importance of the oil and gas industry for Russia, its sustainable development and national security, it is recommendable to focus on the development and implementation of digital technologies. This is crucial for the digitalization of long-term projection and strategic planning, assessment of the role and place of Russia and its largest energy companies in the global market with allowance for a maximum number of different internal and external factors.

A conceptual model for project management of exploration and production in the oil and gas industry: The case of a Brazilian company

2013 ◽  
Vol 31 (4) ◽  
pp. 589-601 ◽  
Author(s):  
Jesus Leodaly Salazar-Aramayo ◽  
Roseane Rodrigues-da-Silveira ◽  
Mariana Rodrigues-de-Almeida ◽  
Tereza Neuma de Castro-Dantas
Keyword(s):  
Project Management ◽  
Conceptual Model ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Exploration And Production

How to avoid aches and pains in your joint ventures

2016 ◽  
Vol 56 (2) ◽  
pp. 559
Author(s):  
Brent Steedman
Keyword(s):  
Joint Ventures ◽  
Joint Venture ◽  
Oil And Gas ◽  
Cost Savings ◽  
Oil And Gas Industry ◽  
Capital Allocation ◽  
Operating Efficiency ◽  
Global Business ◽  
Gas Industry ◽  
The Right

The Australian oil and gas industry is in a period of substantial challenges, including a significant decline in oil prices, fluctuating spot gas prices, a relentless drive for operating efficiency, and tight capital allocation, together with increased regulatory scrutiny and a reputation for below-standards productivity. On the upside, these market challenges provide significant opportunities for companies to bring in new investors, implement new operating models, apply innovation to update processes and practices, and restructure activities. Making material step-changes, requires companies to review, amend, and update joint venture operating agreements (JVOAs). KPMG has worked with many of Australia’s leading oil and gas companies on a range of joint venture engagements. This extended abstract outlines why JVOAs need to be reviewed with respect to the following key opportunities and challenges: Fast-changing global business operating models. Available cost savings by eliminating inconsistent management and operating models between joint ventures. Planning for potential restructuring, including separation of infrastructure (e.g. plants, pipelines, support) from reserve ownership. Sharing of services (e.g. maintenance and logistics) between unrelated joint ventures. Transparency of costs and asset performance. Improved joint venture governance (not more or over-governance) between participants to attract investment. Effective resourcing, noting the right transition of capabilities between deal-makers and joint venture operators. With this extended abstract the authors aim to provide ideas for consideration. Each of these ideas will impact JVOAs. The authors’ proposition is that now is the right time to complete a comprehensive review of JVOAs to enable organisations to move fast as new and innovative opportunities arise.

Digital innovation in subsea integrity management

2020 ◽  
Vol 60 (1) ◽  
pp. 215
Author(s):  
Ricky Thethi ◽  
Dharmik Vadel ◽  
Mark Haning ◽  
Elizabeth Tellier
Keyword(s):  
Domain Knowledge ◽  
Oil And Gas ◽  
Digital Technologies ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Cost Efficiencies ◽  
Exploration And Production ◽  
Integrity Management ◽  
Offshore Oil And Gas ◽  
Dynamic Structures

Since the 2014 oil-price downturn, the offshore oil and gas industry has accelerated implementation of digital technologies to drive cost efficiencies for exploration and production operations. The upstream offshore sector comprises many interfacing disciplines such as subsurface, drilling and completions, facilities and production operations. Digital initiatives in subsurface imaging, drilling of subsea wells and topsides integrity have been well publicised within the industry. Integrity of the subsea infrastructure is one area that is currently playing catch up in the digital space and lends itself well for data computational efficiencies that artificial-intelligence technologies provide, to reduce cost and lower the risk of subsea equipment downtime. This paper details digital technologies employed in the area of subsea integrity management to meet the objectives of centralising access to critical integrity data, automating workflows to collect and assess data, and using machine learning to perform more accurate and faster engineering analysis with large volumes of field-measured data. A comparison of a typical subsea field is presented using non-digital and digital approaches to subsea integrity management (IM). The comparison demonstrates where technologies such as digital twins for dynamic structures, and auto anomaly detection by using image recognition algorithms can be deployed to provide a step change in the quality of subsea integrity data coming from field. It is demonstrated how the use of a smart IM approach, combined with strong domain knowledge in subsea engineering, can lead to cost efficiencies in operating subsea assets.

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