20 Years of Independent Oil and Gas Audits: The Trinidad and Tobago Story

2021 ◽  
Author(s):  
Christian Paul Welsh
Keyword(s):  
Natural Gas ◽  
Crude Oil ◽  
Trinidad And Tobago ◽  
Oil And Gas ◽  
Production Ratio ◽  
Recoverable Resources ◽  
The Government ◽  
Resource Replacement

Abstract Over the 20 year period from 2001 to 2020, the Ministry of Energy and Energy Industries (MEEI) of Trinidad and Tobago commissioned 19 gas and 3 oil audits conducted by independent consultants. Trinidad and Tobago's natural gas Technically Recoverable Resources (TRR) moved from a P1+C1 TRR to Production Ratio of greater than 30 in 2001 to less than 10 years as production has grown from a low of 1.5 Bcf/d to a high of 4.3 Bcf/d. Despite this, the opening of a new exploration basin in the Deepwater has resulted in greater than 100% technically recoverable resource replacement in the last three years for natural gas and a 770% increase in Prospective Resources for crude oil. The data from these successful audits have served to demonstrate the astute management by the Government and People of Trinidad and Tobago of the country's hydrocarbon resources.

An Investigation Into the Occurrence of Hydrate-Bearing Sediments Offshore the East Coast of Trinidad and Tobago

SPE Journal ◽  
2016 ◽  
Vol 21 (05) ◽  
pp. 1782-1792
Author(s):  
Maxian B. Seales ◽  
Jill Marcelle-De Silva ◽  
Turgay Ertekin ◽  
John Yilin Wang
Keyword(s):  
Natural Gas ◽  
Crude Oil ◽  
Trinidad And Tobago ◽  
Gas Hydrates ◽  
Energy Demand ◽  
East Coast ◽  
Gas Production ◽  
Energy Potential ◽  
Production Ratio ◽  
Natural Gas Hydrates

Summary It is anticipated that increasing pressure for cleaner burning fuels and lower carbon dioxide (CO2) emissions will cause a shift in global energy demand from oil to natural gas. In the near future, natural gas is expected to replace crude oil as the fuel of choice for energy production and transportation. In Trinidad and Tobago, natural-gas production has already surpassed crude-oil production. Natural gas accounts for 80% of the country's energy export, but the reserves-to-production ratio is only 7 years (year 2022). Consequently, the Ministry of Energy has taken steps to supplement the natural-gas resource base by supporting initiatives that can potentially bolster the nation's proven gas reserves. Such initiatives include invitations to tender on deepwater blocks offshore Trinidad and Tobago's gas-rich east coast. Even though initiatives are under way to boost conventional natural-gas reserves, effort was not placed on identifying and/or characterizing unconventional gas resources such as natural-gas hydrates. Furthermore, the potential hazards of submarine gas hydrates on deepwater exploration and production (E&P) activities on Trinidad and Tobago's east coast were not assessed. The results presented in this manuscript provide oil-and-gas operators with a means of proactively managing the risk associated with natural-gas hydrates. More importantly, this study acts as a necessary precursor to future studies in characterizing and, later, harnessing the energy potential of Trinidad-and-Tobago's natural-gas-hydrate deposits.

scholarly journals Evaluation and re-understanding of the global natural gas hydrate resources

2021 ◽  
Vol 18 (2) ◽  
pp. 323-338
Author(s):  
Xiong-Qi Pang ◽  
Zhuo-Heng Chen ◽  
Cheng-Zao Jia ◽  
En-Ze Wang ◽  
He-Sheng Shi ◽  
...  
Keyword(s):  
Natural Gas ◽  
Gas Hydrate ◽  
Oil And Gas ◽  
Material Balance ◽  
Energy Resource ◽  
Resource Assessment ◽  
Future Trend ◽  
Natural Gas Hydrate ◽  
The Future ◽  
Recoverable Resources

AbstractNatural gas hydrate (NGH) has been widely considered as an alternative to conventional oil and gas resources in the future energy resource supply since Trofimuk’s first resource assessment in 1973. At least 29 global estimates have been published from various studies so far, among which 24 estimates are greater than the total conventional gas resources. If drawn in chronological order, the 29 historical resource estimates show a clear downward trend, reflecting the changes in our perception with respect to its resource potential with increasing our knowledge on the NGH with time. A time series of the 29 estimates was used to establish a statistical model for predict the future trend. The model produces an expected resource value of 41.46 × 1012 m3 at the year of 2050. The statistical trend projected future gas hydrate resource is only about 10% of total natural gas resource in conventional reservoir, consistent with estimates of global technically recoverable resources (TRR) in gas hydrate from Monte Carlo technique based on volumetric and material balance approaches. Considering the technical challenges and high cost in commercial production and the lack of competitive advantages compared with rapid growing unconventional and renewable resources, only those on the very top of the gas hydrate resource pyramid will be added to future energy supply. It is unlikely that the NGH will be the major energy source in the future.

LEGAL MECHANISMS FOR STIMULATING THE DEVELOPMENT OF THE OIL AND GAS SECTOR OF THE RUSSIAN ECONOMY

2021 ◽  
Author(s):  
Viacheslav Olegovich Mosalygin ◽  
Keyword(s):  
Natural Gas ◽  
Russian Federation ◽  
Oil And Gas ◽  
Significant Part ◽  
Tax Revenues ◽  
Russian Economy ◽  
Oil And Natural Gas ◽  
The Russian Federation ◽  
The Government ◽  
Oil And Gas Sector

For more than 15 years, a significant part of the budget revenues of the Russian Federation have been tax revenues from the sale of hydrocarbons, in particular oil and natural gas. Despite the desire of our government to minimize its dependence on oil and gas revenues, the government continues to implement measures to encourage both small and large companies by providing some tax-related benefits, thereby encouraging the fields to further develop and expand.

Efficient Smoke Suppressant Reduces the Particulate Matter Emissions of Crude Oil Fired Gas Turbines

2019 ◽  
Author(s):  
Matthieu Vierling ◽  
Michel Moliere ◽  
Paul Glaser ◽  
Richard Denolle ◽  
Sathya Nayani ◽  
...  
Keyword(s):  
Particulate Matter ◽  
Natural Gas ◽  
Crude Oil ◽  
Gas Turbines ◽  
Oil And Gas ◽  
Liquid Fuels ◽  
Gas Field ◽  
Associated Gas ◽  
Score Card ◽  
Particulate Matter Emissions

Abstract Gas turbines are often the master pieces of the utilities that power Oil and Gas (O&G) installations as they most often operate in off-grid mode and must reliably deliver the electric power and the steam streams required by all the Exploration/Production (EP) or refining processes. In addition to reliability, fuel flexibility is an important score card of gas turbines since they must permanently accommodate the type of fuel which is available on the particular O&G site. For instance, during the operation of an associated gas field, crude oil comes out from the well heads as the gas reserves are declining or depleted. The utility gas turbine must then be capable to successively burn natural gas and crude oil and often to co-fire both fuels. An important feature of crude oils is that their combustion tends to emit significantly more particulate matter (PM) than do distillate oil and natural gas as they contain some heavier hydrocarbon ends. Taking account of the fact that some alternative liquid fuels emit more particulates matter (PM) than distillate oils, GE has investigated a class of soot suppressant additives that have been previously tested on light distillate oil (No 2 DO). As a continuation of this development, these products have been field-tested at an important refining site where several Frame 6B gas turbines have been converted from natural gas to crude oil with some units running in cofiring mode. This field test showed that proper injections of these fuel additives, at quite moderate concentration levels, enable a substantial abatement of the PM emissions and reduction of flue gas opacity. This paper outlines the main outcomes of this field campaign and consolidates the overall results obtained with this smoke suppression technology.

scholarly journals STATEOWNED ENTERPRISE AND PUBLIC SERVICE OBLIGATION IN THE SECTOR OF OIL AND GAS

2018 ◽  
Vol 29 (3) ◽  
pp. 515
Author(s):  
Muhammad Insa Ansari
Keyword(s):  
Natural Gas ◽  
Public Service ◽  
Oil And Gas ◽  
For Profit ◽  
Oil And Natural Gas ◽  
The Republic ◽  
The Government ◽  
Oil And Gas Sector ◽  
Energy Law ◽  
Public Service Obligation

AbstractThe 1945 Constitution of the Republic of Indonesia regulates natural recources in its particular article. Then, the Energy Law and the Oil and Gas Law regulate the state’s control of oil and natural gas. In the sectoral regulations of oil and gas, there is a public service obligation (PSO) which must be assumed by the Government and State Owned Enterprises (SOE). Meanwhile, in the SOE Law introduced entity Perum and Persero. Where in Perum entities carrying out public service, while the Persero entity to assume the role for profit. But in practice found a PSO on the oil and gas sector carried by state-run entities Persero. IntisariDalam Undang-Undang Dasar Negara Republik Indonesia 1945 diatur penguasaan negara terhadap sumber daya alam. Kemudian UU Enegi dan UU Minyak dan Gas Bumi mengatur penguasaan negara terhadap minyak dan gas bumi. Dalam pengaturan sektoral di bidang tersebut juga mengatur kewajiban pelayanan umum yang harus diemban oleh pemerintah dan BUMN. Sementara itu dalam UU BUMN diperkenalkan  entitas Perusahaan Umum (Perum) dan Perseroan Terbatas (Persero). Dimana entitas Perum mengemban peran pelayanan umum (public service), sementara entitas Persero mengemban peran mencari keuntungan (profit oriented). Namun dalam praktek ditemukan kewajiban pelayanan umum pada sektor minyak dan gas bumi diemban oleh BUMN dengan entitas Persero. 

scholarly journals Hydrogeochemical Aspects Associated with the Mixing of Formation Waters Injected Into the Hydrocarbon Reservoir

2017 ◽  
Vol 33 (2) ◽  
pp. 69-80
Author(s):  
Barbara Uliasz-Misiak ◽  
Katarzyna Chruszcz-Lipska
Keyword(s):  
Chemical Composition ◽  
Natural Gas ◽  
Crude Oil ◽  
Oil And Gas ◽  
Geochemical Modeling ◽  
Gas Field ◽  
Hydrocarbon Reservoir ◽  
The World ◽  
Petroleum Companies ◽  
Hydrocarbon Deposits

Abstract Formation waters extracted with crude oil and natural gas, due to their amount and chemical composition can be a problem for petroleum companies operating hydrocarbon deposits. On average, the world generates 2 to 3 times more water than oil. On average, the world generates 2 to 3 times more water than crude oil. T he amount of extracted water increases with the time of exploitation of the deposit, in the case of deposits at the final stage of depletion, the amount of extracted water is 5 to 8 times bigger than petroleum. Formation waters from hydrocarbons deposits are usually the highly mineralized brines. Large quantities of highly mineralized waters extracted with crude oil and gas are disposed of in various ways or neutralized. T he most common way of disposing of these waters is by injecting them into rock mass. As a result of injection of reservoir waters into hydrocarbon deposits, the waters interact with the storage formations. In these formations, there may be numerous reactions of mineral water with the rock environment. T he injection of reservoir waters will also cause mixing of waters that can disturb the state of thermodynamic equilibrium and will alter the chemistry of these waters. It was analyzed by the geochemical modeling of the interaction of the reservoir waters of Przemyśl natural gas field. Using the PHREEQC program, the chemical reactions related to the mixing of reservoir waters of different chemical types have been studied. It has been found that is possible to precipitation appropriated minerals as a result of mixing water with different chemical composition.

scholarly journals Review of Oilfield Chemicals Used in Oil and Gas Industry

2021 ◽  
pp. 8-24
Author(s):  
M. Chukunedum Onojake ◽  
T. Angela Waka
Keyword(s):  
Natural Gas ◽  
Crude Oil ◽  
Oil Recovery ◽  
Oil And Gas ◽  
Drilling Fluid ◽  
Petroleum Industry ◽  
Oil And Gas Industry ◽  
Oil Field ◽  
Wide Range ◽  
Oilfield Chemicals

The petroleum industry includes the global processes of exploration, extraction, refining, transportation and marketing of natural gas, crude oil and refined petroleum products. The oil industry demands more sophisticated methods for the exploitation of petroleum. As a result, the use of oil field chemicals is becoming increasingly important and has received much attention in recent years due to the vast role they play in the recovery of hydrocarbons which has enormous  commercial benefits. The three main sectors of the petroleum industry are Upstream, Midstream and Downstream. The Upstream deals with exploration and the subsequent production (drilling of exploration wells to recover oil and gas). In the Midstream sector, petroleum produced is transported through pipelines as natural gas, crude oil, and natural gas liquids. Downstream sector is basically involved in the processing of the raw materials obtained from the Upstream sector. The operations comprises of refining of crude oil, processing and purifying of natural gas. Oil field chemicals offers exceptional applications in these sectors with wide range of applications in operations such as improved oil recovery, drilling optimization, corrosion protection, mud loss prevention, drilling fluid stabilization in high pressure and high temperature environment, and many others. Application of a wide range of oilfield chemicals is therefore essential to rectify issues and concerns which may arise from oil and gas operational activities. This review intends to highlight some of the oil field chemicals and  their positive applications in the oil and gas Industries.

scholarly journals KEY ISSUES OF ACCOUNTING FIXED ASSETS MANAGEMENT OF OIL AND GAS ENTERPRISES: ANALYSIS OF FEATURES, COMPOSITION AND VALUATION

2019 ◽  
pp. 76-87
Author(s):  
Sofia KAFKA
Keyword(s):  
Natural Gas ◽  
Crude Oil ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Fair Value ◽  
Economic Benefits ◽  
Gas Industry ◽  
Gas Drilling ◽  
Fixed Assets ◽  
Key Issues

The article deals with the key issues concerning the system of security of fixed assets at the enterprises of the oil and gas industry. The purpose of the article is to investigate the fixed assets features and composition at the the enterprises of oil and gas industry, to determine the approaches to their assessment at the stage of their receipt by the enterprise. The state, dynamics of value and the degree of depreciation of fixed assets in Ukraine for the year 2017 have been analyzed, their features have been distinguished at the enterprises of different branches of the economy. To ensure the effective operation of the enterprises of the oil and gas industry, significant assets are required, and the results of their activities to a large extent depend on the availability and condition of fixed assets that ensure economic sustainability of economic entities. Oil and gas companies include pipelines and related equipment in fixed assets, oil and gas assets, machinery and equipment, buildings, buffer gas, drilling and reconnaissance equipment and other fixed assets. Among the assets of NJSC "NAFTOGAZ OF UKRAINE" for the year 2017, non-current assets occupied 86% of the total assets of the company, of which 94% were fixed assets, what determines the reliability of their accounting as an important element of effective management of enterprises. The dynamics of value and composition of fixed assets of enterprises of the oil and gas industry of Ukraine for 2016-2017 have been determined according to separate economic segments. The cost of fixed assets of NJSC "NAFTOGAZ OF UKRAINE" as of December 31, 2017 amounted to UAH 491 482 million, respectively, according to economic segments, it is structured in such a way that their largest share is concentrated in the system of transportation and distribution of natural gas - almost 48%, for storage of natural gas - 34%, production and sale of natural gas - 12%, and the rest belongs to the economic activities related to oil: the production of crude oil and gas condensate, transportation of crude oil. The composition of fixed assets of extractive enterprises differs from their composition in refineries. Industrial features of mining industry with significant volumes of work related to the disclosure of layers of minerals are characteristic to chemical production with a significant cost of equipment. The main approaches to the evaluation of fixed assets objects at the stage of their entrance to the enterprise have been investigated. The reliability of the accounting information on fixed assets depends on their assessment. When they are received, they are valued at their original cost, that is, by the amount of cash paid or their equivalents or fair value, another form of indemnity granted to obtain the asset at the time of its acquisition or creation, or, if accepted, the amount that is distributed to that asset in the original recognized in accordance with the specific requirements of other IFRSs. After recognition, the entity should choose either a cost model or a revaluation model in its accounting policies and should apply this policy to the entire group of fixed assets. A cessation of recognition occurs after the release of an object or when it does not expect future economic benefits from its use or disposal. In this case, it is recognized as profit or loss.

ENERGY — MAJOR SOURCES AND CONSUMPTION

1972 ◽  
Vol 12 (1) ◽  
pp. 102
Author(s):  
R.J.S. Sherwin
Keyword(s):  
Natural Gas ◽  
Crude Oil ◽  
Energy Demand ◽  
Fossil Fuels ◽  
World Wide ◽  
Economies Of Scale ◽  
Oil And Gas ◽  
Large Population ◽  
Primary Energy ◽  
Total System

We are wholly dependent upon energy of solar, terrestrial and celestial origin. Contributions from any basically new form of energy are unlikely. Fossil fuels are the basis of modern economies, crude oil being dominant.Overall energy demand and the considerable, special merits of crude oil and natural gas will lead to enormous demand for these two commodities in the coming decades. Oil and gas lend themselves to the economies of scale which are as important as technical factors. Vigorous and efficient world-wide exploration and research and development in improved recovery would appear urgent and important. A shortfall in these commodities could have serious economic repercussions world-wide. A massive shortfall could be disastrous.Research and development in coal, oil shale, tar sands, heavy oil, nuclear fracturing of reservoir rocks and fundamental issues to improve overall efficiency in using resources are worth early expenditure. Doubling total system efficiency or recovery percentage would each be equivalent to doubling proven reserves.Australia seems fairly well endowed with natural gas and brown coal but the locations with respect to large population centres are less than ideal. Reserves of uranium are also substantial. There could be serious shortages of black coal and oil resources. A good balance of components might not be easy to achieve if national security were given due weight. For example, to maintain its industrial economic growth Australia needs imported crude oil as a major contributor to primary energy consumption in spite of vulnerability to foreign control of supply and price.

Sign in / Sign up

Export Citation Format

Share Document