Assessing Investment in Ghana's Upstream Oil and Gas Industry: the Risk and Returns

2021 ◽  
Author(s):  
Riverson Oppong ◽  
Edward Kwame Amoni
Keyword(s):  
Oil And Gas ◽  
Price Volatility ◽  
Secondary Data ◽  
Sampling Technique ◽  
Oil And Gas Industry ◽  
Gas Production ◽  
Annual Reports ◽  
Investment Risk ◽  
Volatility Risk ◽  
Oil And Gas Production

Abstract The study sought to assess Investment in Ghana Upstream Sector, looking at the risk involved in the loss of Investment and the returns from the investment. The specific objectives were: to establish the level of investment in the oil and gas projects that are producing in commercial volumes in the Upstream sector of Ghana, to assess the revenues realized by Ghana and the IOCs from the sale of oil and gas since the start of commercial production in the year 2010. The researchers noticed that investors in the upstream sector face risk such as: price volatility risk, political risk, investment risk, and many other risks that affect the upstream operations. For the purposes of this study, risk is limited to investment risk. Thus, the researchers are looking at the level of investment in the upstream sector and whether the investment has any relation with the returns or revenues. A purposeful sampling technique was used to select the three commercial producing fields in Ghana for the Study. These are the Jubilee field, the TEN field, and the SGN field. Secondary data including oil and gas production volumes was taken from the annual reports of PIAC. Other secondary data was taken from Petroleum Commission, and Ministry of Finance. The results of the study showed that a total of about 8.8 billion US dollars was invested in the Jubilee field. About 4.998 billion US dollars and 5.2 billion US dollars was invested in TEN and SGN fields respectively. This means a total of about 19 billion US dollars was invested in the exploration and development of the three producing fields in Ghana. The results also indicated that despite all the risk in the upstream sector, about 22.69 billion US dollars revenues has been realized by the IOCs from the sale of oil and gas since the commencement of production in the year 2010. The results also showed that Ghana group realized about 4.98 billion US dollars from the revenues of oil and gas over the same period.

A Step Change in the Digital Oilfield Arena: Cloud Computing and Workflow Integration for Production Operations Solutions

2021 ◽  
Author(s):  
Aditya Kotiyal ◽  
Guru Prasad Nagaraj ◽  
Lester Tugung Michael
Keyword(s):  
Oil And Gas ◽  
Dimensional Change ◽  
Oil And Gas Industry ◽  
Gas Production ◽  
System Stability ◽  
Production Data ◽  
Oil And Gas Production ◽  
Common Domain ◽  
Digital Oilfield ◽  
Workflow Orchestration

Abstract Digital oilfield applications have been implemented in numerous operating companies to streamline processes and automate workflows to optimize oil and gas production in real-time. These applications are mostly deployed using traditional on-premises systems; where maintenance, accessibility and scalability serves as a major bottleneck for an efficient outcome. In addition to this challenge, the sector still faces limitations in data integration from disparate data sources, liberation of consolidated data for consumption and cross domain workflow orchestration of that data. The dimensional change brought by digital transformation strategies has paved a path for the Cloud- based solutions, which have recently gained momentum in the oil and gas industry pertaining to their wider accessibility, simpler customization, greater system stability and scalability to support larger amount of data in a performant way. To address the challenges mentioned earlier, we have embarked on a journey with Production Data Foundation which brings together production and equipment data from across an organization. In this paper, we will highlight how Production Data Foundation, hosted on the cloud, provides the underlying infrastructure, services, interfaces required to support and unify production data ingestion, workflow orchestration, and through the alignment of the common domain and digital concepts, improve collaboration between people in distinct roles, such as production engineers, reservoir engineers, drilling engineers, deployment engineers, software developers, data scientists, architects, and subject matter experts (SME) working with production operations products and solutions.

STUDY OF CHEMICAL REAGENTS AGAINST CORROSION PROCESSES IN THE CONDITIONS OF THE UZEN FIELD

2021 ◽  
Vol 73 (1) ◽  
pp. 185-195
Author(s):  
U. Zh. Tazhenbayeva ◽  
◽  
Ye.O. Ayapbergenov ◽  
G. Zh. Yeligbayeva ◽  
◽  
...  
Keyword(s):  
Corrosion Inhibitors ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Freezing Temperature ◽  
Gas Production ◽  
Localized Corrosion ◽  
Laboratory Research ◽  
Oil And Gas Production ◽  
Field Equipment ◽  
Long Run

One of the biggest challenges in oil and gas production projects is dealing with the various types of corrosion to which certain parts of field equipment are exposed. Selecting the right corrosion inhibitor for the specific environment is extremely important. Choosing inhibitors for a particular location can be a difficult task because there are many factors to be considered. Understanding the corrosion problems that can arise is important in the oil and gas industry, and knowledge of which inhibitors to use to deal with general and localized corrosion will save time and money in the long run. This article presents the results of studies of various brands of domestic and foreign corrosion inhibitors for use in the Uzen field: physical and chemical characteristics (density, viscosity, freezing temperature, mass fraction of active substance, compatibility with field waters, amine number), efficiency of corrosion inhibitors in laboratory conditions and on a bench simulating field reservoir conditions, taking into account pressure, temperature, fluid flow rate, as well as aggressive components - hydrogen sulfide and carbon dioxide. In addition, studies of corrosion inhibitors' effect on the process of preparation of production are also given. The works were carried out in the center of scientific and laboratory research of KMG Engineering branch " KazNIPImunaygas" LLP.

Shaping the decommissioning landscape of tomorrow

2020 ◽  
Vol 60 (2) ◽  
pp. 537
Author(s):  
Andrew Taylor
Keyword(s):  
Service Sector ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Gas Production ◽  
Industry Growth ◽  
Gas Industry ◽  
Oil And Gas Production ◽  
Research Organisations ◽  
Growth Centres

Associated with the growth of Australia’s oil and gas industry over the past 40 years, our oceans currently host oil and gas production and transportation infrastructure that will cost ~AU$30 billion to decommission. National Energy Resources Australia (NERA) is one of six industry growth centres (IGC) funded by the Australian Government. NERA is investigating opportunities for transforming the way that Australia manages its upcoming decommissioning activities. In 2019, NERA undertook a series of stakeholder consultations to refresh our understanding of Australia’s decommissioning outlook. Feedback was received through more than 20 interviews and follow-up surveys with the service sector, operators, research organisations, regulators and consultants. This paper highlights the outcomes of this review and NERA’s view on opportunities to position Australia favourably to manage decommissioning in a way that maximises benefits.

Erosion of Elbows in Oil and Gas Production Systems

2012 ◽  
Vol 479-481 ◽  
pp. 1129-1132
Author(s):  
Wang Ming Bo
Keyword(s):  
Oil And Gas ◽  
Production Systems ◽  
Oil And Gas Industry ◽  
Gas Production ◽  
Gas Industry ◽  
Oil And Gas Production ◽  
Sand Erosion ◽  
The Subject ◽  
Erosion Mechanisms ◽  
Definitive Methods

This paper gives an overview of erosion mechanisms in elbows in oil and gas production systems. The nature of the erosion process itself makes it very difficult to develop some definitive methods or models to prevent or predict the erosion in elbows in all conditions. This paper provides a review of the subject which will help petroleum engineers to handle the erosion problems in oil and gas industry. This review is given of different erosion mechanisms connected with sand erosion and the factors that influence them, and then the review goes on to look at particulate erosion in elbows in more details. Conclusions are then drawn based on the above analyses.

scholarly journals Advances in Asset Management Techniques: An Overview of Corrosion Mechanisms and Mitigation Strategies for Oil and Gas Pipelines

2012 ◽  
Vol 2012 ◽  
pp. 1-10 ◽  
Author(s):  
Chinedu I. Ossai
Keyword(s):  
Risk Assessment ◽  
Asset Management ◽  
Oil And Gas ◽  
Operation Time ◽  
Oil And Gas Industry ◽  
Gas Production ◽  
Mitigation Strategies ◽  
Maintenance Cost ◽  
Oil And Gas Production ◽  
Management Techniques

Effective management of assets in the oil and gas industry is vital in ensuring equipment availability, increased output, reduced maintenance cost, and minimal nonproductive time (NPT). Due to the high cost of assets used in oil and gas production, there is a need to enhance performance through good assets management techniques. This involves the minimization of NPT which accounts for about 20–30% of operation time needed from exploration to production. Corrosion contributes to about 25% of failures experienced in oil and gas production industry, while more than 50% of this failure is associated with sweet and sour corrosions in pipelines. This major risk in oil and gas production requires the understanding of the failure mechanism and procedures for assessment and control. For reduced pipeline failure and enhanced life cycle, corrosion experts should understand the mechanisms of corrosion, the risk assessment criteria, and mitigation strategies. This paper explores existing research in pipeline corrosion, in order to show the mechanisms, the risk assessment methodologies, and the framework for mitigation. The paper shows that corrosion in pipelines is combated at all stages of oil and gas production by incorporating field data information from previous fields into the new field’s development process.

scholarly journals Utah

2020 ◽  
Vol 6 (3) ◽  
Author(s):  
Mark Burghardt ◽  
Gage Hart Zobell
Keyword(s):  
Crude Oil ◽  
Oil And Gas ◽  
Oil Production ◽  
Oil And Gas Industry ◽  
Legal Framework ◽  
Gas Production ◽  
Mandatory Reporting ◽  
Gas Industry ◽  
Oil And Gas Production ◽  
Crude Oil Production

Oil and gas production continues to be an important sector of Utah’s economy. Following a 25% loss in production between 2014 and 2015, Utah’s production continues to slowly rebound. Crude oil production in 2019 appears to be slightly ahead of 2018 production. Monthly production averages slightly over three million barrels, placing Utah among the top ten states in crude oil production. Along with the continuing increase in production, the state’s legal framework governing oil and gas continues to develop. This Article examines recent changes in Utah statutes and regulations along with new case law developments involving the oil and gas industry. In particular, this Article discusses a recent federal bankruptcy decision involving midstream agreements, the revision to a Utah statute that now requires mandatory reporting of unclaimed mineral interests, and recent revisions to Utah’s oil and gas regulations.

scholarly journals Design of inductors for the installation of induction soldering of pipeline joints in the oil and gas industry

2021 ◽  
Vol 2094 (4) ◽  
pp. 042017
Author(s):  
A O Stupin ◽  
D V Rogova ◽  
E A Nozdrenko ◽  
V V Kukartsev ◽  
A I Cherepanov ◽  
...  
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Gas Production ◽  
Schematic Diagram ◽  
Mathematical Apparatus ◽  
Gas Pipelines ◽  
Gas Industry ◽  
Oil And Gas Production ◽  
Induction Brazing ◽  
Oil And Gas Pipelines

Abstract The article discusses the use of induction brazing for connecting oil and gas pipelines. The rationale for the choice of induction brazing in the oil and gas industry is considered. The work calculates the main parameters of the inductor. On the basis of calculations, using a mathematical apparatus, a schematic diagram of an inductor with a diameter of 90 mm is created for installing induction soldering. It is proposed to use and develop inductors of various diameters (60, 90 and 135 mm) to create an induction unit that allows connecting pipelines of oil and gas equipment in order to increase the reliability of equipment and the efficiency of oil and gas production and processing.

scholarly journals LEXICAL-SEMANTIC FEATURES OF THE ENGLISH TERMINOLOGY OF OIL AND GAS SPHERE

2020 ◽  
Vol 1 (9(77)) ◽  
pp. 164-168
Author(s):  
Mariana Shtohryn ◽  
Myroslava Muchka
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Gas Production ◽  
Process Equipment ◽  
Semantic Features ◽  
Gas Industry ◽  
Oil And Gas Production ◽  
Heterogeneous Model ◽  
Lexical Semantic ◽  
Semantic Categories

The lexical-semantic features of the English terms of oil and gas sphere are considered. Attention is drawn to the phraseological and metaphorical features that are characteristic of the terms of the oil and gas industry. It has been revealed that English oil and gas terminology is built on a heterogeneous model, that is, the result of the interaction of several areas of human knowledge. It includes geological, geophysical, geochemical terms, as well as terms related to drilling, washing, fastening and cementing of oil and gas wells, development of oil and gas fields, underground hydraulics, oil and gas production, processing methods, pipeline terminology, offshore drilling terminology, economic terminology. It is has been found out that the semantic categories of English oil and gas terminology are evidence that the terminology under study reflects a particular sphere of human activity that can be structured in some way by the means of language. In this process, the human factor is important. On the one hand, it is inherent in each of the categories, and serves as a basis for subjectivity in identifying the peculiarities of the content.The semantic categories of English oil and gas terminology are analyzed. These include: Human, Process, Equipment, Substance, Method, and Characteristics. The study showed that among the English oil and gas terms formed by metaphorization, we can distinguish terms conventionally grouped under the following lexical-semantic groups: “Parts of the human body”, “World of animals and birds”, “Clothes”, “Society”, “Cooking”, “Construction”, “Nature”, “Traveling”, “Weapon”, “Tool”, “Geometric figure”, “Hunting”, “Fishing”, “Medicine”, “Furniture” та “Quality”.

scholarly journals Life-Support Model of Supply Systems of Oil and Gas Industry Objects

2018 ◽  
Vol 41 ◽  
pp. 01028 ◽  
Author(s):  
Fares Abu-Abed ◽  
Alexey Khabarov
Keyword(s):  
Service Time ◽  
Oil And Gas ◽  
Life Support ◽  
Oil And Gas Industry ◽  
Gas Production ◽  
Distribution Functions ◽  
Analytical Models ◽  
Measuring Instruments ◽  
Gas Industry ◽  
Oil And Gas Production

At present, repair and diagnostic complexes are being developed for repair of oil and gas production facilities, including control areas for working capacity, diagnosing components used in maintenance stations, as well as areas equipped with the necessary technological equipment, measuring instruments, tools and equipment for carrying out current repair of replacement elements. For maintenance of repair, repair-diagnostic complexes are equipped with means of power supply, sets of spare property and accessories and operational documentation. Repair-diagnostic complexes can be represented using a three-phase multi-channel queuing system. The study of such a system with the distribution functions of the service time of applications different from the exponential makes it difficult to use analytical models. The developed simulation model of the repair and diagnostic complex allows to evaluate the characteristics of its functioning, the most important of which is the average service time of the application in the system, as well as to determine the required number of channels on each site. The developed model can be aggregated into a general model of research into the operation of complex technical systems for supplying oilfield facilities.

WESTERN AUSTRALIA—A TECHNOLOGY BASE FOR THE OIL AND GAS INDUSTRY

2001 ◽  
Vol 41 (1) ◽  
pp. 777
Author(s):  
B.F Ronalds
Keyword(s):  
Oil And Gas ◽  
Local Environment ◽  
Oil And Gas Industry ◽  
Gas Production ◽  
Gas Industry ◽  
Oil And Gas Production ◽  
North West ◽  
The North ◽  
International Industry ◽  
Analytical Tools

Oil and gas production is characterised by a truly international industry, and yet a unique local environment. Solutions developed elsewhere cannot always be imported directly for Australian use. For this reason alone, a strong local technology base is of value to the Australian oil and gas industry. Other benefits include the ability to provide high quality education and training for people entering, and already in, the industry.A case study is described where the Western Australian technology base is facilitating solutions to a specific challenge faced on the North West Shelf (NWS); namely, that the criteria for reliable development and operation of its offshore infrastructure for oil and gas production are more severe than other petroleum provinces, requiring new analytical tools to be developed.

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