The future is not what it used to be: oil and gas strategies for a carbon-conscious world

2017 ◽  
Vol 57 (2) ◽  
pp. 459 ◽  
Author(s):  
Chris Graham
Keyword(s):  
Energy Demand ◽  
Business Models ◽  
Oil And Gas ◽  
Gas Production ◽  
Coal Extraction ◽  
Global Energy ◽  
Oil And Gas Production ◽  
Market Growth ◽  
The Future ◽  
Lower Carbon

The COP 21 Paris climate deal in December 2015 signalled a landmark shift in a world increasingly conscious of the need to address greenhouse gas emissions. On the day it came into force – 4 November 2016 – 10 of the world’s leading oil and gas companies launched a US$1 billion fund to fast-track the development of low-emission technologies. While admittedly a fraction of their combined annual budgets, it marked a collective and public affirmation of changing attitudes within the industry towards supporting lower-carbon and renewable fuel sources. The global energy industry is at a turning point. Lower-carbon fuels have overtaken coal and oil in investment and market growth terms. Hydrocarbons will still dominate the future global energy mix, although natural gas and zero-carbon fuels are expected to drive at least 60% of global energy demand growth to 2035. The new energy landscape will challenge traditional business models in oil and gas production, coal extraction and power utilities. Searching questions can be expected from capital markets in the months and years ahead. Companies could come under pressure to de-risk their existing portfolios and diversify. But judging the pace and scale of transition from old to new will be key. In this paper, Wood Mackenzie will draw on its global industry expertise and emerging research into how the oil and gas sector can adapt to the increasingly pertinent carbon challenge.

Prospects, Challenges and Way Forward in the Use of Hydraulic Fracturing For Oil and Gas Production From Igneous Rocks

2021 ◽  
Author(s):  
Agnes Anuka ◽  
Celestine Udie ◽  
Grace Aquah
Keyword(s):  
Hydraulic Fracturing ◽  
Energy Demand ◽  
Oil And Gas ◽  
Gas Production ◽  
Commercial Production ◽  
Igneous Rocks ◽  
High Porosity ◽  
Global Energy ◽  
Oil And Gas Production ◽  
Porosity And Permeability

Abstract Commercial accumulation of hydrocarbons occurs mostly in sedimentary rocks due to their high porosity and permeability. Increased global energy demand has necessitated the need for unconventional methods of oil production. The world is gradually moving away from reliability on conventional oils. The need to ensure global energy sustainability has necessitated an urgent diversion to unconventional oils. In recent times, hydrocarbon accumulations have been found in igneous rocks. Their low porosity and permeability however prevents commercial production as oil and gas found in these rocks will not flow. Hydraulic fracturing is useful in increasing rock porosity as it involves the breaking of rocks to allow oil and gas trapped inside to flow to producing wells. This method is useful in developing unconventional resources such as oil and gas found in igneous rocks. This research explores the prospects, challenges and way forward in the use of hydraulic fracturing to increase the porosity of igneous rock for commercial production of oil and gas.

A Comparison Between ORC and Supercritical CO2 Bottoming Cycles For Energy Recovery From Industrial Gas Turbines Exhaust Gas

2021 ◽  
Author(s):  
M. A. Ancona ◽  
M. Bianchi ◽  
L. Branchini ◽  
A. De Pascale ◽  
F. Melino ◽  
...  
Keyword(s):  
Gas Turbine ◽  
Thermal Efficiency ◽  
Gas Turbines ◽  
Supercritical Co2 ◽  
Energy Demand ◽  
Oil And Gas ◽  
Gas Production ◽  
Medium Size ◽  
Oil And Gas Production ◽  
Industrial Gas Turbines

Abstract Gas turbines are often employed in the industrial field, especially for remote generation, typically required by oil and gas production and transport facilities. The huge amount of discharged heat could be profitably recovered in bottoming cycles, producing electric power to help satisfying the onerous on-site energy demand. The present work aims at systematically evaluating thermodynamic performance of ORC and supercritical CO2 energy systems as bottomer cycles of different small/medium size industrial gas turbine models, with different power rating. The Thermoflex software, providing the GT PRO gas turbine library, has been used to model the machines performance. ORC and CO2 systems specifics have been chosen in line with industrial products, experience and technological limits. In the case of pure electric production, the results highlight that the ORC configuration shows the highest plant net electric efficiency. The average increment in the overall net electric efficiency is promising for both the configurations (7 and 11 percentage points, respectively if considering supercritical CO2 or ORC as bottoming solution). Concerning the cogenerative performance, the CO2 system exhibits at the same time higher electric efficiency and thermal efficiency, if compared to ORC system, being equal the installed topper gas turbine model. The ORC scarce performance is due to the high condensing pressure, imposed by the temperature required by the thermal user. CO2 configuration presents instead very good cogenerative performance with thermal efficiency comprehended between 35 % and 46 % and the PES value range between 10 % and 22 %. Finally, analyzing the relationship between capital cost and components size, it is estimated that the ORC configuration could introduce an economical saving with respect to the CO2 configuration.

scholarly journals Aspects of sustainable development of industry in Kazakhstan

2019 ◽  
Vol 135 ◽  
pp. 04043
Author(s):  
Svetlana Faizullina ◽  
Ainur Isaeva ◽  
Lailya Matkarimova ◽  
Aigul Zhuzbaeva
Keyword(s):  
Sustainable Development ◽  
Oil And Gas ◽  
Economic Benefits ◽  
Gas Production ◽  
Health Impacts ◽  
Energy Market ◽  
Global Energy ◽  
Oil And Gas Production ◽  
World Energy ◽  
The World

This article discusses the economic benefits of uranium mining, as well as its environmental and health impacts. Sustainable development includes several aspects: energy, water, the environment, food and the economy, and ensuring each of these aspects is a serious problem. Energy is at the center of other aspects of sustainability, as it has a direct relationship with water, food, and the environment. Uranium is Kazakhstan’s top priority in the global energy market. In the world, there are different opinions on the development of uranium production, increasing the value of atomic energy. Apparently, this should be preceded by a crisis in the field of oil and gas production in recent years, in connection with which the world energy market should have a diversified course depending on various energy sources. Kazakhstan is a country rich in uranium. In addition, over the years of independence, we have increased production almost four times and maintain leadership in the world. Therefore, uranium production is the most important advantage of our global energy space today.

Offshore Oil and Gas: The Future Engineering Contribution

1974 ◽  
Vol 188 (1) ◽  
pp. 11-24 ◽  
Author(s):  
L. C. Allcock
Keyword(s):  
Continental Shelf ◽  
Oil And Gas ◽  
New Technology ◽  
Gas Production ◽  
Oil And Gas Development ◽  
Oil And Gas Production ◽  
The Future ◽  
Offshore Oil And Gas ◽  
Offshore Oil ◽  
Production Industry

Development of offshore oil and gas production from the continental shelf and in even deeper water will be dependent on engineers. It is of primary importance to understand the nature of the oil and gas production industry in order to follow more clearly the contribution that will be required from many of the professional branches of engineering, and a great deal of new technology must be developed in order that the problems of the future may be overcome. The difficulty may not be in defining the future engineering of oil and gas development but in finding engineers in sufficient numbers to meet the demand.

scholarly journals Materials and Corrosion Trends in Offshore and Subsea Oil and Gas Production

2017 ◽  
Author(s):  
Mariano Iannuzzi ◽  
Afrooz Barnoush ◽  
Roy Johnsen
Keyword(s):  
Energy Demand ◽  
Oil And Gas ◽  
Extreme Environments ◽  
High Strength ◽  
Advanced Characterization ◽  
Gas Production ◽  
Oil And Gas Production ◽  
Environmentally Assisted Cracking ◽  
Engineering Alloys ◽  
Cantilever Bending

The ever-growing energy demand requires the exploration and the safe, profitable exploitation of unconventional reserves. The extreme environments of some of these unique prospects challenge the boundaries of traditional engineering alloys as well as our understanding of the underlying degradation mechanisms that could lead to a failure. Despite their complexity, high-pressure and high-temperature, deep- and ultra-deep, pre-salt, and Arctic reservoirs represent the most important source of innovation regarding materials technology, design methodologies, and corrosion control strategies.This paper provides an overview of trends in materials and corrosion research and development, with focus on subsea production but applicable to the entire industry. Emphasis is given to environmentally assisted cracking of high strength alloys and advanced characterization techniques based on in situ electrochemical nanoindentation and cantilever bending testing for the study of microstructure-environment interactions.

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.

Shale Energy Shapes Global Energy Markets

2013 ◽  
Vol 226 ◽  
pp. F40-F45 ◽  
Author(s):  
Janusz Chojna ◽  
Miklós Losoncz ◽  
Paavo Suni
Keyword(s):  
Natural Gas ◽  
Crude Oil ◽  
Oil And Gas ◽  
Extraction Methods ◽  
Gas Production ◽  
Global Energy ◽  
Oil And Gas Production ◽  
Long Run ◽  
The Us ◽  
Price Differences

Unconventional resources of crude oil and natural gas – shale energy – increased significantly in the US in the early 2000s, triggered by the strong rise in the price of crude oil and technical advances in production. The US is a clear forerunner in the production of shale energy, due to its existing knowledge and infrastructure. The rest of the world is following, although negative environmental effects and other factors have obstructed the diffusion of new extraction methods. In Europe, Polish production is expected to start in the next few years, although environmental concerns are delaying the onset. The rise in the importance of shale energy will increase global oil and gas production markedly. The rising global supplies will improve global energy security in the long run and help to stabilise the large international price differences for natural gas.

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