A Middle East View of the Global Oil Situation

2002 ◽  
Vol 20 (6) ◽  
pp. 451-455
Author(s):  
A.M. Samsam Bakhtiari
Keyword(s):  
International Institutions ◽  
Oil And Gas ◽  
Middle Eastern ◽  
Primary Energy ◽  
Oil Fields ◽  
Medium Term ◽  
Oil Companies ◽  
Deep Waters ◽  
The Press ◽  
Present Decade

Seen from a Middle Eastern perspective, the present global oil situation can be summarised within five major and inescapable trends: 1 The world's super giant and giant oil fields are dying off; 2 There are no more major frontier regions left to explore besides the earth's poles; 3 Production of non-conventional crude oil has been initiated at great costs – in Venezuela's Orinoco belt, Canada's Athabasca tar sands and ultra-deep waters; 4 Even OPEC's oil production has its limits; 5 No major primary energy rival can possibly take over from oil and gas in the medium term. Adding up these five trends, one can envision a global oil crunch at the horizon — – most probably within the present decade. Unfortunately, however, the general public will not heed such a rational vision. And, even if it did, it would be loath to respond to the implied threat. In its defence, it should be said that many actors are constantly and consistently reassuring it: the press (even parts of the specialised press), most politicians, some international institutions, a couple of major oil companies and naturally OPEC. But this can only last until petrol stations post ‘empty’, natural gas supplies are suddenly shunted and, eventually, the lights go off.

Energy Decarbonisation and Primary Energy in the 21st Century

2021 ◽  
Vol 70 (2) ◽  
pp. 11-16
Author(s):  
Vladislav Brkić
Keyword(s):  
21St Century ◽  
Oil And Gas ◽  
Primary Energy ◽  
Low Carbon ◽  
Oil Companies ◽  
The World ◽  
The Future ◽  
Exploration And Production ◽  
The Republic ◽  
Oil And Gas Sector

This paper emphasizes the role of primary sources of energy, primarily oil and gas in the future (so-called “energy mix”) with the expected trends in the future. The changes expected by the oil and gas sector in the 21st century have been underlined due to energy decarbonisation. There are intense discussions about the oil and gas future due to the effects of climate change and the announcement that oil is in the final phase of exploitation due to the high depletion of fields around the world. How are the big oil companies responding to these challenges and what are the trends of global energy consumption? In the 21st century, it is necessary to take in account all types of energy with the growth of renewable sources. In the meantime, natural gas is imposed as a bridge between fossil and decarbonised energy, and the trends in the gas segment in the world and in the Republic of Croatia will be emphasized as well. In addition, the new Croatian energy strategy must be aligned with changes in the oil and gas sector, as well as exploration and production of hydrocarbons. Carbon-free energy is still a long way, but the low-carbon energy period has begun.

scholarly journals Contesting Political Decisions Involving Environmental Issues: A Case Study in Portugal Based on the Press About Offshore Oil and Gas Drilling

2021 ◽  
Vol 8 ◽  
Author(s):  
Bruno Pinto ◽  
Paula Castro
Keyword(s):  
Oil And Gas ◽  
Oil Companies ◽  
Gas Drilling ◽  
Wide Range ◽  
The Press ◽  
The Government ◽  
Offshore Oil And Gas ◽  
Offshore Oil ◽  
Political Decisions

This paper presents a case study about the drilling of offshore oil and gas in mainland Portugal, a process that ended with the cancelation of all contracts. It aimed to better understand the argumentative and value dynamics involved in how municipalities, populations, civic organizations, and others successfully contested the central government decision of prospection. Since the press was one of the main stages for this conflict, it was important to analyze how it presented the respective arguments to society. Articles on this topic were collected from the two widely read national newspapers “Correio da Manhã” and “Público” in the culmination period of this confrontation, which occurred between June 2016 and December 2018. In total, 155 articles were found, 61.3% (n = 95) from “Público” and 38.7% (n = 60) from “Correio da Manhã.” The quantitative analysis focused on the number of news per month and the frequency of themes, as well as the frequency of actors and arguments used against and in favor of exploitation on the news. Thematic analysis was used to qualitatively assess the articulation of arguments in the two opposing views. Results show that, in both newspapers, the majority of articles focused on the positions and actions of those opposing prospection, as the Government and other actors in favor of drilling were much less active in presenting its arguments. Overall, the analysis suggests two different strategies: (a) a strong argumentative synergy between a wide range of actors against offshore prospection. Their concerted arguments defended multiple values, including public participation in political decisions, protecting local communities and places from environmental risks, countering climate change, and protecting local economic activities. (b) The Government was usually isolated in its arguments with the occasional exception of oil companies or representatives of the national industry. The scarce arguments used by these actors evoked mostly national economic values, with little engagement with other societal goals. This study suggests that the large mobilization of different sectors of society, their use of a convergent and wide range of arguments, and the lack of engagement of the Government in a dialogical argumentation were crucial to delegitimize the latter’s political decision.

scholarly journals Using the Achimovka Technique in the Oil Industry as One of the Modern Ways of Increasing the Competitiveness of the Russian Federation in the World Market

2021 ◽  
Vol 344 ◽  
pp. 01018
Author(s):  
Violetta Kuzmina
Keyword(s):  
Russian Federation ◽  
Oil And Gas ◽  
Price Volatility ◽  
Oil Production ◽  
World Market ◽  
Gas Production ◽  
Oil Fields ◽  
Oil Companies ◽  
The Russian Federation ◽  
The Government

The relevance of this study lies in the fact that the modern oil market is characterized by instability and high competition. Depletion of oil fields, deterioration of equipment for oil production, price volatility and political conflicts negatively affect Russia’s position in the global energy market. New economic conditions in 2021 are associated with a decrease in demand for oil and oil products, high import dependence, conservation wells to complete the deal under OPEC ++, which will lead to a fall in the market by 3-10%. It is necessary to apply new methods of oil production, one of which is the method of achimovka oil fields. Methods. The initial materials were statistical data from the Center for Macroeconomic Analysis and Short-Term Forecasting, the Ministry of Economic Development of Russia, the Analytical Center for the Government of the Russian Federation, world rating reports. Results. The pandemic and self-isolation of 2020 led to the fact that the Russian oil sector lost 50-60% of proceeds from the export of hydrocarbons, more than 50% of its capitalization. To support the industry, the Ministry of Industry and Trade of Russia will allocate 35 billion rubles. until 2024 for the development of new offshore and deep oil deposits. Conclusions. For Russian oil companies, the following is relevant: search for new sales markets (for example, Asia); application of innovative technologies to maintain the profitability of oil and gas production through the development of bazhen and achimovka; development of small deposits and deposits with hard-to-recover reserves.

Drilling and Service Contracts in Offshore Oil and Gas Operations

1973 ◽  
Vol 11 (3) ◽  
pp. 480
Author(s):  
J. M. Killey
Keyword(s):  
Oil And Gas ◽  
Oil Industry ◽  
Offshore Drilling ◽  
Oil Companies ◽  
Drilling Rig ◽  
Service Contracts ◽  
Oil And Gas Operations ◽  
Offshore Oil And Gas ◽  
Offshore Oil ◽  
Offshore Operations

As onshore oil and gas deposits are becoming more difficult to locate, and as the world demands for energy continue to increase at an alarming rate, oil companies are channeling much of their exploration activities towards offshore operations, and in particular, towards operations centered off Canada's coast lines. Because of the environment, offshore drilling presents problems which are novel to the onshore-geared oil industry. J. M. Killey discusses in detail many of the considerations involved in drafting the offshore drilling contract, concentrating on problems such as the liability of the various parties; costs; scheduling; pollution; conflict of laws; etc. Similarly, he discusses service contracts (such as supply boat charters; towing services; helicopter services; etc.^ which are necessity to the operation of an offshore drilling rig. To complement his paper, the author has included number of appendices which list the various considerations lawyer must keep in mind when drafting contracts for offshore operations.

Pipeline Politics in Iran, Turkey, and the South Caucasus

2017 ◽  
Author(s):  
Mahmood Monshipouri
Keyword(s):  
Local Governments ◽  
Oil And Gas ◽  
Complex Dynamics ◽  
The South ◽  
South Caucasus ◽  
The Caspian Sea ◽  
Economic Interests ◽  
Oil Companies ◽  
Caucasus Region ◽  
Territorial Conflicts

The relationship between Iran, Turkey and the South Caucasus states have been influenced by an array of geopolitical, strategic, cultural, and economic factors. The competition between Iran and Turkey and their roles in the South Caucasus are best defined by traditional balance-of-power relations and the broader context of the post-Soviet era. This chapter unpacks the complex dynamics of pipeline politics in the South Caucasus region by underlying the need to understand the “Great Power Game” involving geostrategic and geo-economic interests of local governments, regional actors, global powers, and international oil companies. The larger focus turns on underscoring the importance of the region’s large oil and gas reserves; its land connection between the Caspian Sea, South Caucasus, and Europe; and its long-standing territorial conflicts in the post-Soviet era. Iran and Turkey have fought for influence in the South Caucasus while maintaining relatively good bilateral relationships in the region.

The Role of Oil and Gas in the Economic Development of the Global Economy

2018 ◽  
Author(s):  
Paul Stevens
Keyword(s):  
Economic Development ◽  
Global Economy ◽  
Oil And Gas ◽  
Primary Energy ◽  
Oil And Gas Producers ◽  
The Future ◽  
History Of ◽  
Factor Inputs ◽  
The Impact

This chapter is concerned with the role of oil and gas in the economic development of the global economy. It focuses on the context in which established and newer oil and gas producers in developing countries must frame their policies to optimize the benefits of such resources. It outlines a history of the issue over the last twenty-five years. It considers oil and gas as factor inputs, their role in global trade, the role of oil prices in the macroeconomy and the impact of the geopolitics of oil and gas. It then considers various conventional views of the future of oil and gas in the primary energy mix. Finally, it challenges the drivers behind these conventional views of the future with an emphasis on why they may prove to be different from what is expected and how this may change the context in which producers must frame their policy responses.

Significant Differences in Proved Reserves Estimates Using SPE/WPC Definitions Compared to United States Securities and Exchange Commission (SEC) Definitions

2005 ◽  
Vol 8 (06) ◽  
pp. 520-527 ◽  
Author(s):  
D.R. Harrell ◽  
Thomas L. Gardner
Keyword(s):  
United States ◽  
Oil And Gas ◽  
The United States ◽  
Securities And Exchange Commission ◽  
Classification Systems ◽  
Direct Function ◽  
Oil Companies ◽  
Publicly Owned ◽  
Hydrocarbon Reserves ◽  
The U.S

Summary A casual reading of the SPE/WPC (World Petroleum Congresses) Petroleum Reserves Definitions (1997) and the U.S. Securities and Exchange Commission(SEC) definitions (1978) would suggest very little, if any, difference in the quantities of proved hydrocarbon reserves estimated under those two classification systems. The differences in many circumstances for both volumetric and performance-based estimates may be small. In 1999, the SEC began to increase its review process, seeking greater understanding and compliance with its oil and gas reserves reporting requirements. The agency's definitions had been promulgated in 1978 in connection with the Energy Policy and Conservation Act of 1975 and at a time when most publicly owned oil and gas companies and their reserves were located in the United States. Oil and gas prices were relatively stable, and virtually all natural gas was marketed through long-term contracts at fixed or determinable prices. Development drilling was subject to well-spacing regulations as established through field rules set by state agencies. Reservoir-evaluation technology has advanced far beyond that used in 1978;production-sharing contracts were uncommon then, and probabilistic reserves assessment was not widely recognized or appreciated in the U.S. These changes in industry practice plus many other considerations have created problems in adapting the 1978 vintage definitions to the technical and commercial realities of the 21st century. This paper presents several real-world examples of how the SEC engineering staff has updated its approach to reserves assessment as well as numerous remaining unresolved areas of concern. These remaining issues are important, can lead to significant differences in reported quantities and values, and may result in questions about the "full disclosure" obligations to the SEC. Introduction For virtually all oil and gas producers, their company assets are the hydrocarbon reserves that they own through various forms of mineral interests, licensing agreements, or other contracts and that produce revenues from production and sale. Reserves are almost always reported as static quantities as of a specific date and classified into one or more categories to describe the uncertainty and production status associated with each category. The economic value of these reserves is a direct function of how the quantities are to be produced and sold over the physical or contract lives of the properties. Reserves owned by private and publicly owned companies are always assumed to be those quantities of oil and gas that can be produced and sold at a profit under assumed future prices and costs. Reserves under the control of state-owned or national oil companies may reflect quantities that exceed those deemed profitable under the commercial terms typically imposed on private or publicly owned companies.

Numerical Simulation of Gas Lift Optimization Using Artificial Intelligence for a Middle Eastern Oil Field

2021 ◽  
Author(s):  
Mohammed Ahmed Al-Janabi ◽  
Omar F. Al-Fatlawi ◽  
Dhifaf J. Sadiq ◽  
Haider Abdulmuhsin Mahmood ◽  
Mustafa Alaulddin Al-Juboori
Keyword(s):  
Genetic Algorithm ◽  
Sensitivity Analysis ◽  
Middle Eastern ◽  
Optimization Technique ◽  
Injection Rate ◽  
Oil Field ◽  
Oil Fields ◽  
Reservoir Pressure ◽  
Artificial Lift ◽  
Gas Lift

Abstract Artificial lift techniques are a highly effective solution to aid the deterioration of the production especially for mature oil fields, gas lift is one of the oldest and most applied artificial lift methods especially for large oil fields, the gas that is required for injection is quite scarce and expensive resource, optimally allocating the injection rate in each well is a high importance task and not easily applicable. Conventional methods faced some major problems in solving this problem in a network with large number of wells, multi-constrains, multi-objectives, and limited amount of gas. This paper focuses on utilizing the Genetic Algorithm (GA) as a gas lift optimization algorithm to tackle the challenging task of optimally allocating the gas lift injection rate through numerical modeling and simulation studies to maximize the oil production of a Middle Eastern oil field with 20 production wells with limited amount of gas to be injected. The key objective of this study is to assess the performance of the wells of the field after applying gas lift as an artificial lift method and applying the genetic algorithm as an optimization algorithm while comparing the results of the network to the case of artificially lifted wells by utilizing ESP pumps to the network and to have a more accurate view on the practicability of applying the gas lift optimization technique. The comparison is based on different measures and sensitivity studies, reservoir pressure, and water cut sensitivity analysis are applied to allow the assessment of the performance of the wells in the network throughout the life of the field. To have a full and insight view an economic study and comparison was applied in this study to estimate the benefits of applying the gas lift method and the GA optimization technique while comparing the results to the case of the ESP pumps and the case of naturally flowing wells. The gas lift technique proved to have the ability to enhance the production of the oil field and the optimization process showed quite an enhancement in the task of maximizing the oil production rate while using the same amount of gas to be injected in the each well, the sensitivity analysis showed that the gas lift method is comparable to the other artificial lift method and it have an upper hand in handling the reservoir pressure reduction, and economically CAPEX of the gas lift were calculated to be able to assess the time to reach a profitable income by comparing the results of OPEX of gas lift the technique showed a profitable income higher than the cases of naturally flowing wells and the ESP pumps lifted wells. Additionally, the paper illustrated the genetic algorithm (GA) optimization model in a way that allowed it to be followed as a guide for the task of optimizing the gas injection rate for a network with a large number of wells and limited amount of gas to be injected.

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