scholarly journals Strategic perspectives of the oil and gas sector industrial development

2021 ◽  
Vol 14 (4) ◽  
pp. 369-374
Author(s):  
O. I. Kalinskiy ◽  
M. A. Afonasiev
Keyword(s):  
Carbon Capture ◽  
Industrial Development ◽  
Oil And Gas ◽  
Storage System ◽  
Carbon Capture And Storage ◽  
Energy Transition ◽  
Oil And Gas Industry ◽  
Low Carbon ◽  
Gas Industry ◽  
Oil And Gas Sector

The authors study oil and gas industry, its condition and perspective trends of industrial development. One of them involves applying low carbon and low cost technologies. The authors introduce new strategic imperatives in oil and gas sector to perform energy transition. They study the types of categories of perspective trends of the industry’s development: scaling up the development and implementation of a carbon capture and storage system, using low carbon raw materials, making it possible to take granular measurements. The article deals with perspectives of the oil and gas industry for the current year. The perspectives are built with the consideration of the previous year’s indicators and include all the past disasters and the dynamics of their solution and the results for the society. The authors show wider implementation of drones used for abnormal emissions of hydrogen sulfide to carry out distant monitoring, observations, inspections and preventive maintenance, change tracking, methane management, emergency response and material processing. The article describes precision drilling which reduces the risk of accidents, oil spills, fires and increases rate of penetration. The authors present microwave hydraulic fracturing which can become the next significant achievement in the perspective development of the industry.

What comes next: responding to recommendations from the task force on climate-related financial disclosures (TCFD)

2018 ◽  
Vol 58 (2) ◽  
pp. 633 ◽  
Author(s):  
Shiva Tyagi
Keyword(s):  
Carbon Capture ◽  
Large Scale ◽  
Fossil Fuels ◽  
Oil And Gas ◽  
Task Force ◽  
Carbon Capture And Storage ◽  
Oil And Gas Industry ◽  
Low Carbon ◽  
Gas Industry ◽  
Low Carbon Economy

The task force on climate-related financial disclosures (TCFD) published its recommendations for disclosing climate-related risks in June 2017. The TCFD report represents a framework for companies to disclose climate-related information consistently in their mainstream financial filings. Reporting financial activity using the lens of climate-related risk would, according to the TCFD, help more appropriately price risks and allocate capital in the context of climate change. The initiative, while voluntary, would help speed the transition to a low-carbon economy, and help shift the corporate perspective beyond immediate concerns. The oil and gas industry can play a leading role in the transition to a low carbon economy through: carbon capture and storage, use of natural gas as a transition fuel and the implementation of large-scale renewable energy projects. Given the oil and gas industry’s global leadership in petroleum geology, resource extraction and pipeline transmission, the industry has a vital role in testing the feasibility of large-scale carbon capture and storage. Fossil fuels and renewable energy technologies have obvious complementary synergies and fossil fuels like natural gas are necessary for the reliable, affordable and low-cost transition to a low carbon transition pathway. The oil and gas industry may be the only sector with the requisite expertise and global scale of operations to test and implement large-scale renewable technology initiatives within a public-private partnership framework. Moreover, oil and gas companies are well positioned to be leaders in the effort to adapt and strengthen resilience to the effects and risks of climate change and reduce impacts.

Carbon capture and storage in the oil and gas industry: 40 years on

2017 ◽  
Vol 57 (2) ◽  
pp. 413
Author(s):  
Christopher Consoli ◽  
Alex Zapantis ◽  
Peter Grubnic ◽  
Lawrence Irlam
Keyword(s):  
Oil Recovery ◽  
Energy Demand ◽  
Carbon Capture ◽  
Large Scale ◽  
Oil And Gas ◽  
Carbon Capture And Storage ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Wide Range ◽  
And Storage

In 1972, carbon dioxide (CO2) began to be captured from natural gas processing plants in West Texas and transported via pipeline for enhanced oil recovery (EOR) to oil fields also in Texas. This marked the beginning of carbon capture and storage (CCS) using anthropogenic CO2. Today, there are 22 such large-scale CCS facilities in operation or under construction around the world. These 22 facilities span a wide range of capture technologies and source feedstock as well as a variety of geologic formations and terrains. Seventeen of the facilities capture CO2 primarily for EOR. However, there are also several significant-scale CCS projects using dedicated geological storage options. This paper presents a collation and summary of these projects. Moving forward, if international climate targets and aspirations are to be achieved, CCS will increasingly need to be applied to all high emission industries. In addition to climate change objectives, the fundamentals of energy demand and fossil fuel supply strongly suggests that CCS deployment will need to be rapid and global. The oil and gas sector would be expected to be part of this deployment. Indeed, the oil and gas industry has led the deployment of CCS and this paper explores the future of CCS in this industry.

scholarly journals Global Oil & Gas Corporations in the Race for Technological Superiority

2021 ◽  
Vol 65 (5) ◽  
pp. 59-67
Author(s):  
A. Bereznoi
Keyword(s):  
Research University ◽  
Oil And Gas ◽  
Energy Transition ◽  
Basic Research ◽  
Oil And Gas Industry ◽  
Service Firms ◽  
Low Carbon ◽  
Gas Industry ◽  
Oil Companies ◽  
The World

Received 16.12.2020. The article explores the key trends in R&D and innovation activities of the world’s largest oil&gas companies through the lens of dynamic shifts taking place in the competitive landscape of the global energy sector. The first area, where the author sees significant changes, relates to the appearance of the new powerful players in the technological domain of the world oil and gas industry. He draws attention to the growing roles of national oil companies and multinational oilfield service firms as increasingly important investors in R&D and innovations. These developments are analyzed in the context of the overall competitive positioning of Western-based supermajors whose technological dominance in the industry has never seriously been challenged before. Another significant change, noticed by the author, relates to the new technological priorities set by the world’s largest oil&gas companies for the foreseeable future. Two major sets of technologies are becoming increasingly important as strategic areas for investment by the industry giants. One of them, low-carbon technologies, reflects the dramatic evolution of the “Big Oil” attitude to the Energy transition. In contrast to a largely negativist (or at best ‘window-dressing’) approach to climate agenda, visible just a decade ago, most oil&gas giants have recently adopted individual low-carbon strategies driven to a large extent by the significantly increased pressure from the powerful institutional investors and the growing influence of the negative public opinion. The second top technological priority relates to the changing digital agenda in the oil and gas industry. It reflects the transition of the industry leaders to the next generation digital technologies (including internet of things, artificial intelligence, machine learning and robotics) but most importantly to a systemic approach in digital transformation contrasting with traditional “piecemeal” IT projects with limited operations coverage. The changing innovation management mechanisms are also considered by the author as one of the key trends in technological domain of the world oil and gas industry. Specific focus is devoted to the formation of the corporate innovation ecosystems, including various R&D and innovation collaborations with different innovation actors (business partners, professional research centers, universities and governments organizations) and the connected vast spread of open innovation-based instruments working within these alliances. Acknowledgements. The article was prepared within the framework of the Basic Research Program at the National Research University Higher School of Economics.

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.

Asset of the Future - Comprehensive Business Transformation Program

2021 ◽  
Author(s):  
Alexander Sitnikov ◽  
Sergei Doktor ◽  
Andrei Margarit
Keyword(s):  
Oil And Gas ◽  
Energy Transition ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Average Return ◽  
Debt Capital ◽  
Timely Response ◽  
The Future ◽  
Return On Capital ◽  
Traditional Approaches

Abstract In the recent years the oil and gas industry has started facing an unprecedented number of challenges. The average return on capital in the industry has deteriorated which results in investor mistrust and costs being higher than ever. Debt capital became two times costlier than for alterative types of energy. More conventional oilfields become depleted and new reserves are usually quite complex to develop. These and other challenges such as intense competition between oil and gas companies, the energy transition agenda as well as the volatility of oil prices in the aftermath of the pandemic are pushing the O&G companies to transform themselves. Gazprom Neft introduced the "Asset of the Future" program in late 2018 as a timely response which was aimed at completely transforming the Upstream business model. The main issue with the transformation was the scale of it, which included 10 subsidiaries (or subs) and more than 200 different processes. In this case traditional approaches such as improving each operation one by one would not suffice as the company sought a rapid and highly efficient implementation of changes. As such the program had to develop a new approach that focused on the integration of all business parts and continuous improvement. Integration of people, technology and processes will lead to better collaboration and as a result - to smarter decisions and better execution.

scholarly journals Making the subsurface political: How enhanced oil recovery techniques reshaped the energy transition

2019 ◽  
Vol 38 (4) ◽  
pp. 733-750
Author(s):  
Sébastien Chailleux
Keyword(s):  
Enhanced Oil Recovery ◽  
Oil Recovery ◽  
Carbon Capture ◽  
Oil And Gas ◽  
Global Climate ◽  
Carbon Capture And Storage ◽  
Energy Transition ◽  
Social Protest ◽  
Recovery Techniques ◽  
And Storage

Analyzing the case of France, this article aims to explain how the development of enhanced oil recovery techniques over the last decade contributed to politicizing the subsurface, that is putting underground resources at the center of social unrest and political debates. France faced a decline of its oil and gas activity in the 1990s, followed by a renewal with subsurface activity in the late 2000s using enhanced oil recovery techniques. An industrial demonstrator for carbon capture and storage was developed between 2010 and 2013 , while projects targeting unconventional oil and gas were pushed forward between 2008 and 2011 before eventually being canceled. We analyze how the credibility, legitimacy, and governance of those techniques were developed and how conflicts made the role of the subsurface for energy transition the target of political choices. The level of political and industrial support and social protest played a key role in building project legitimacy, while the types of narratives and their credibility determined the distinct trajectories of hydraulic fracturing and carbon capture and storage in France. The conflicts over enhanced oil recovery techniques are also explained through the critical assessment of the governance framework that tends to exclude civil society stakeholders. We suggest that these conflicts illustrated a new type of politicization of the subsurface by merging geostrategic concerns with social claims about governance, ecological demands about pollution, and linking local preoccupations to global climate change.

The scalability challenge: pathways to future decarbonisation and the impact on the oil and gas industry

2020 ◽  
Vol 60 (2) ◽  
pp. 548
Author(s):  
Gavin Thompson
Keyword(s):  
Business Models ◽  
Oil And Gas ◽  
Energy Transition ◽  
Oil And Gas Industry ◽  
Energy System ◽  
Paris Agreement ◽  
Gas Industry ◽  
Alternative Technologies ◽  
Multiple Challenges ◽  
The Impact

How will the global energy system move sharply towards a pathway compatible with the goals of the Paris Agreement by 2030? Despite great efforts on cost reductions in renewables, alternative technologies, advanced transportation and supportive government policies, progress to date is not enough. The challenge is now one of scalability. Although some technologies required for a 2°C future are economic and proven, many others are not. Optimists look at the cost of solar and wind and say we have all we need to achieve our targets. The reality is that significant additional investment is needed to get them to material scale, globally. And too often huge challenges are downplayed in sectors beyond power and transport, including industry, aviation, shipping, heating and agriculture. Given the criticality of climate change, these multiple challenges must now be addressed. Consequently, any accelerated pace of decarbonisation represents an existential challenge to the oil and gas industry, including in Australia. If companies are to remain investible through the long term, all will need to transition to business models that are aligned with the goals of the Paris Agreement. This paper considers what the path to decarbonisation could look like and how oil and gas companies must respond in order to prosper through the energy transition.

scholarly journals Iraqi Kurdistan Oil and Gas Sector: Iraqi and International Dimensions

2020 ◽  
pp. 58-67
Author(s):  
Qadir Aso Araz
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Regional Government ◽  
Legal Basis ◽  
Kurdistan Region ◽  
Gas Industry ◽  
Iraqi Kurdistan ◽  
International Aspects ◽  
Oil And Gas Sector

The article deals with the problem of the influence of the Iraqi Kurdistan oil and gas industry on the relations of the Kurdish autonomy with the central authority of Iraq. The international aspects of extraction and transportation of hydrocarbons from the territory of the Kurdistan Region are also analyzed. The legal basis for the functioning of the oil and gas complex in the region, the main differences between Erbil and Baghdad regarding the powers of the Kurdish regional government in the field of exploitation of natural resources of the autonomy is represented. It has been established that the independent activity of the Iraqi Kurdistan authorities in the development of the oil and gas industry in its territory, the wide involvement of foreign investment provided autonomy a significant source of income, which became the financial backing of Erbil in his political disputes with Baghdad. At the same time, in the question of the transportation of hydrocarbon, the landlocked Iraqi Kurdistan was critically dependent on Turkey, which greatly limits its range of options in its relations with Ankara. Excessive dependence of the Iraqi Kurdistan economy on hydrocarbon exports is one of the strategic challenges for Kurdish autonomy, but significant positive developments in this area are possible only in the long-term perspective. Keywords: Iraq, Iraqi Kurdistan, Kurdish autonomy, Turkey, oil and gas industry.

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