Use of a Database to Integrate Petroleum Resource and Reserve Estimates from Exploration to Production

1995 ◽  
Author(s):  
S. Pollen ◽  
T. Andersen ◽  
M. Manner ◽  
L.J. Rustad
Keyword(s):  
Petroleum Resource ◽  
Reserve Estimates

A GAMMA MOVING AVERAGE PROCESS FOR MODELLING DEPENDENCE ACROSS DEVELOPMENT YEARS IN RUN-OFF TRIANGLES

2020 ◽  
pp. 1-22
Author(s):  
Luis E. Nieto-Barajas ◽  
Rodrigo S. Targino
Keyword(s):  
Latent Variables ◽  
Moving Average ◽  
Real Data ◽  
Model Parameters ◽  
Average Process ◽  
Moving Average Process ◽  
Data Set ◽  
Run Off ◽  
Average Form ◽  
Reserve Estimates

ABSTRACT We propose a stochastic model for claims reserving that captures dependence along development years within a single triangle. This dependence is based on a gamma process with a moving average form of order $p \ge 0$ which is achieved through the use of poisson latent variables. We carry out Bayesian inference on model parameters and borrow strength across several triangles, coming from different lines of businesses or companies, through the use of hierarchical priors. We carry out a simulation study as well as a real data analysis. Results show that reserve estimates, for the real data set studied, are more accurate with our gamma dependence model as compared to the benchmark over-dispersed poisson that assumes independence.

scholarly journals Ethics, resource rent, environment and petroleum policy: the case of a small open economy

2021 ◽  
Vol 12 (1) ◽  
pp. 76-89
Author(s):  
Ola Honningdal Grytten ◽  
John Arngrim Hunnes
Keyword(s):  
Open Economy ◽  
Ethical Issues ◽  
Small Open Economy ◽  
The State ◽  
Resource Rent ◽  
The People ◽  
Petroleum Resource ◽  
Net Profit ◽  
Important Argument ◽  
Renewable Natural Resource

This paper contributes to the understanding of how the environment, ethics, values, and historical contingencies shape public policy. It explains the accomplishment of petroleum resource management in the small open economy of Norway. The study is conducted by mapping policy decisions and the arguments behind them regarding environmental and ethical issues. This is done by studying available governmental and parliamentary papers along with statements from politicians and central governmental officials. The paper also seeks to illuminate some of the decisions by quantitative measures. The paper firstly describes a model of Ricardian resource rent. Secondly, it investigates the set of values that were in place before the petroleum production started in the 1970s, as described in public documents. An important argument was to build a “qualitatively better society” for the benefit of the people. Thirdly, it traces the historical roots of these values by examining historical sources.The main findings are that success lies in understanding the ethics behind the environmental resource rent harvesting of this non-renewable natural resource. The paper concludes that the focus on the natural environment and resource rent management can be attributed to popular values built on historical traditions. According to them, the state and the trust between the state and its citizens played key roles in shaping the policy. The careful policy can be illustrated by the fact that Norway has managed to build one of the largest sovereign funds in the world worth USD 1,200 billion for use by future generations. Only 3% of its value, significantly less than its historical net profit, should be used annually.

scholarly journals Empirical Characterization of Heavy Metals in Crude Oil Spill Sites in Emohua, Rivers State, Nigeria

2021 ◽  
Vol 2 (5) ◽  
pp. 24-28
Author(s):  
Nnamdi Michael Ahiamadu ◽  
Ify L. Nwaogazie ◽  
Yusuf O. L. Momoh
Keyword(s):  
Heavy Metals ◽  
Surface Water ◽  
Oil Spill ◽  
Environmental Protection Agency ◽  
Surface Soil ◽  
Soil Samples ◽  
Petroleum Resource ◽  
Significant Difference ◽  
Rivers State ◽  
Pb Concentration

The study assessed the concentration of heavy metals in three oil spill sites in Emohua local government area in Rivers State, Nigeria. Soil samples were collected at depth 0-30cm for surface soil samples and up to 10m for sub-surface soil samples depending on the depth of borehole. Groundwater samples were collected from drilled boreholes while the surface water samples were collected from fishponds or water bodies (rivers) close to the oil spill sites. The samples taken from the oil spill sites were analysed to determine the level of concentration of 10 Department of Petroleum Resource (DPR) specified heavy metals (Cd, Zn, Cu, Pb, Cr, Ba, Ni, Hg, As, and Co). BUCK Scientific Atomic Absorption Spectrophotometer (AAS) was used in detecting the concentration of the heavy metals. For the surface soil, Pb concentration in site A and B were significantly higher than what was obtained at site C, with a mean concentration of 219.70, 130.01 and 3.41mg/kg respectively for the three sites. The mean lead (Pb) concentration obtained in the surface soil was within DPR and United State Environmental Protection Agency (USEPA) acceptable limits. Barium also has significant concentration in both the surface soil and sub-surface soil. Kruskal Wallis test indicated significant difference in the Pb, Cd, Zn, Cu, Cr and Ba concentration in surface/topsoil among the three sites and also indicated significant difference in the concentrations of Pb, Cd, Cr, Ni, Ba and As in sub-surface soil among the sites. Little heavy metal concentration was found in both the groundwater and surface water. The study showed that even if some heavy metals were detected at the oil spill sites, they do not pose any serious health risk, as all the heavy metals in the four environmental media at the three sampling sites were below the national limit stipulated by the Department of Petroleum Resource (DPR), Nigeria.

Petroleum Resources-Based Urban Ecological Planning and Development. Research Based on Green Growth and Economic Transition

2019 ◽  
Vol 44 (3) ◽  
pp. 68-71
Author(s):  
Jun Shi ◽  
Ning Liang
Keyword(s):  
Industrial Structure ◽  
Economic Transition ◽  
Urban System ◽  
Ecological Planning ◽  
Green Growth ◽  
Petroleum Resource ◽  
Petroleum Resources ◽  
Government Planning ◽  
Multi Level ◽  
Functional Areas

Petroleum resource-based city is an important part of urban system in China. Under the background of green growth and economic transition, petroleum resource-based city is facing the problem of sustainable development. This paper takes petroleum resources-based cities in China as the research object, and uses urban ecological planning method to analyze the basic methods of petroleum resources-based urban ecological planning and development from three aspects: establishing multi-level city circle layer, building urban ecotope and promoting urban renewal. The results show that green growth and economic transition of petroleum resources cities in China depend on government planning for urban development, including statutory planning and non-statutory planning. Petroleum resources-based cities should promote the ecological planning and development of petroleum resources-based cities in China from three aspects: optimizing the industrial structure of cities, optimizing the layout of urban functional areas and optimizing the layout of urban ecolandscape in order to adapt to green growth and economic transition.

Estimation Update and Feedback Procedures

2008 ◽  
Author(s):  
P.J. Lee
Keyword(s):  
Water Saturation ◽  
Geophysical Data ◽  
Source Rocks ◽  
Geochemical Data ◽  
Burial History ◽  
Data Types ◽  
Petroleum Resource ◽  
History Of ◽  
Seismic Sections ◽  
Well Data

A basin or subsurface study, which is the first step in petroleum resource evaluation, requires the following types of data: • Reservoir data—pool area, net pay, porosity, water saturation, oil or gas formation volume factor, in-place volume, recoverable oil volume or marketable gas volume, temperature, pressure, density, recovery factors, gas composition, discovery date, and other parameters (refer to Lee et al., 1999, Section 3.1.2). • Well data—surface and bottom well locations; spud and completion dates; well elevation; history of status; formation drill and true depths; lithology; drill stem tests; core, gas, and fluid analyses; and mechanical logs. • Geochemical data—types of source rocks, burial history, and maturation history. • Geophysical data—prospect maps and seismic sections. Well data are essential when we construct structural contour, isopach, lithofacies, porosity, and other types of maps. Geophysical data assist us when we compile number-of-prospect distributions and they provide information for risk analysis.

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