On the choice of mathematical methods for assessing the value of real options for capacity extension of oil and gas projects

2020 ◽  
Vol 17 (1) ◽  
pp. 38-57
Author(s):  
V. Yu. Khat’kov ◽  
G. V. Zubarev ◽  
I. V. Demkin ◽  
E. V. Pozhidaev ◽  
I. M. Nikonov
Keyword(s):  
Economic Efficiency ◽  
Real Option ◽  
Oil And Gas ◽  
Economic Effect ◽  
Simulation Method ◽  
Gas Production ◽  
Cost Evaluation ◽  
Mathematical Methods ◽  
Two Phase ◽  
Project Cycle

The article presents the results of the study of cost evaluation of a real option for capacity extension of a two-phase liquefied natural gas production project and the economic effect of reserving capacity in the project. The expediency of using the simulation method to solve the problem of assessing the economic efficiency of the project with the real option at different stages of the project cycle is shown. Recommendations are given on using methods for constructing a binomial and a numerical integration models as additional (testing) methods for assessing the economic efficiency of a project with an option at the pre-investment stage.

Numerical Simulation Study on the Key Influencing Factors of Water-Invasion Performance for the Gas Wells with Bottom-Water

2014 ◽  
Vol 884-885 ◽  
pp. 104-107
Author(s):  
Zhi Jun Li ◽  
Ji Qiang Li ◽  
Wen De Yan
Keyword(s):  
Numerical Simulation ◽  
Influencing Factors ◽  
Bottom Water ◽  
Simulation Method ◽  
Gas Production ◽  
Production Performance ◽  
Gas Wells ◽  
Two Phase ◽  
Gas Well ◽  
Water Gas

For the water-sweeping gas reservoir, especially when the water-body is active, water invasion can play positive roles in maintaining formation pressure and keeping the gas well production. But when the water-cone break through and towards the well bottom, suffers from the influencing of gas-water two phase flows, permeability of gas phase decrease sharply and will have a serious impact on the production performance of the gas well. Moreover, the time when the water-cone breakthrough will directly affect the final recovery of the gas wells, therefore, the numerical simulation method is used to conduct the research on the key influencing factors of water-invasion performance for the gas wells with bottom-water, which is the basis of the mechanical model for the typical gas wells with bottom-water. It indicate that as followings: (1) the key influencing factors of water-invasion performance for the gas wells with bottom-water are those, such as the open degree of the gas beds, well gas production and the amount of Kv/Kh value; and (2) the barrier will be in charge of great significance on the water-controlling for the bottom water gas wells, and its radius is the key factor to affect water-invasion performance for the bottom water gas wells where the barriers exist nearby.

A Numerical Study of Sand Particle Erosion in a Series of Ball Seats in Gas-Particle Two-Phase Flow

2019 ◽  
Author(s):  
A. Rasteh ◽  
A. Farokhipour ◽  
M. A. Rasoulian ◽  
Z. Mansoori ◽  
M. Saffar-Avval ◽  
...  
Keyword(s):  
Oil And Gas ◽  
Numerical Study ◽  
Cone Angle ◽  
Gas Production ◽  
Sudden Expansion ◽  
Sand Particle ◽  
Two Phase ◽  
Operational Conditions ◽  
Wide Range ◽  
Single Cone

Abstract Fracking (fracturing) is of great importance for enhancing oil and gas production from low permeability reservoirs. Since in fracking fluid, suspension of sand particles are used, the erosion failure of fracturing equipment has become an increasing concern. Accordingly, investigation of erosion of commonly used fittings such as ball seats in order to decrease its adverse consequences has attracted considerable attentions. Although the erosion wear of gas-solid flows in the pipe sudden expansion was investigated in the literature, the effect of particle size, ball seat shape and the contraction configurations on the erosion-induced wear is not fully understood. This study is aimed to explore the most erosion-resistant configuration of a ball seat under various operational conditions. A CFD model is used and a wide range of geometries are investigated. The studied configurations are categorized in three main groups including single cone, double cone and curved cone. In each category, different cone angles and curve styles are considered. The results showed that, among the single cone ball seats, the cone angle of 15° is the most erosion-resistant configuration. It was also shown that the third-order curve style cone has the best erosion performance.

scholarly journals New approach to development and manufacturing technologies of duplex steel

2019 ◽  
Vol 121 ◽  
pp. 04010
Author(s):  
Victor Orlov ◽  
Leonid Levkov ◽  
Vladimir Dub ◽  
Alan Balikoev ◽  
Dmitry Shurygin
Keyword(s):  
Oil And Gas ◽  
Sea Water ◽  
Average Distance ◽  
Production Equipment ◽  
Gas Production ◽  
Effective Control ◽  
Two Phase ◽  
Corrosion Properties ◽  
Duplex Steel ◽  
Duplex Steels

We conducted a brief review of current production and application of duplex and super duplex steels for manufacture of equipment exposed to the hazard of sulphide stress-corrosion cracking, sea water and other corrosive environment. The super duplex steel with enhanced corrosion-mechanical characteristics in comparison with the known steels of austenitic-ferritic class was developed. Based on the concepts of formation of a special structure of two-phase austenitic-ferritic steels in the process of crystallization, the possibilities of compositional, technological, thermal and special impact techniques are considered and advanced ways of controlling physical, chemical, structural homogeneity and properties of super duplex steels are developed. Electroslag remelting with the application of low-frequency alternating current provides effective control over the length of the two-phase area, the size of the primary dendrites of the austenitic and ferritic phases, the average distance between their axes, the parameters of the crystallizing cell, the development of liquation phenomena and the size of the growing non-metallic phases. Within framework of the proposed approach, the thermodynamic and kinetic conditions for the formation and growth of hardening phases are assessed, a new composition and a complex technology for the manufacture of corrosion-resistant super duplex steels for gas and oil production equipment has been developed. Thermodynamically stable, having sizes of 30-300 nm, niobium nitrides and carbonitrides are located inside the grains of the ferritic phase. At the same time, the sigma phase and chromium carbide precipitates at the intergrain boundaries are not observed. The results of the determination of mechanical and corrosion properties in accordance with the NACE TM 0177 standard (method A), tests of corrosion witness-samples in field conditions demonstrate the advantages and prospects of using new super duplex steel for the manufacture of oil and gas production equipment operating in an environment with high H2S content and CO2 under significant mechanical loads, without the risk of brittle fracture.

Efficiency Criteria of Operations in the Marine Resuce Support for Hydrocarbons Production and Transportation in the Arctic Zone of the Russian Federation

2021 ◽  
Author(s):  
Tatyana Ivanovna Lapteva ◽  
Lyudmila Anatolyevna Kopaeva ◽  
Marat Nabievich Mansurov ◽  
Vladimir Ivanovich Efremov ◽  
Viktor Nikolayevich Ilyuhin
Keyword(s):  
Russian Federation ◽  
Oil And Gas ◽  
Practical Importance ◽  
Gas Production ◽  
The Arctic ◽  
Mathematical Methods ◽  
Arctic Seas ◽  
Oil And Gas Production ◽  
The Russian Federation

Abstract The creation of an effective system of rescue support (the abbreviation ASO is adopted on the territory of the Russian Federation) in the implementation of the processes of oil and gas production and transportation in the Arctic seas of Russia is an urgent and difficult task. The feasibility of creating such a system for offshore oil and gas production facilities is due to the statistics of accidents and incidents at such facilities, as well as the fact that the Merchant Shipping Code of the Russian Federation, in essence, does not consider the applicability of the existing system of rescue operations on platforms that are exploring and developing mineral and other non-living resources the seabed and its bowels. The successful solution of numerous problems of rescue support, including the requirements for the quality of the system, indicators and criteria for the effectiveness of the operations carried out, can be significantly increased by using mathematical models that make it possible to identify patterns in the processes of performing urgent work, improve the quality of planning, and, consequently, the efficiency of management of various organizational systems. Applied in many areas of activity, the scientific direction "research of operations" is advisable to use when system generation of rescue support within the framework of improving the system of technical regulation of oil and gas enterprises. Determining the effectiveness of a purposeful process quantitatively will allow, on a scientific basis, with the involvement of modern mathematical methods, to solve the problem of increasing the effectiveness of the use of forces and means of the marine rescue support, including the functioning of the emergency support system in the mode of daily and emergency activities, as well as the preparation of the necessary forces and means. The novelty of the presented work lies in the application of the provisions of the theory and the apparatus of operations research to assessing the effectiveness of the system of the marine rescue support, which will further serve as a methodological basis for the development of a number of documents and provisions that are of practical importance: methods, requirements for the system of rescue support, documents in the field of control over the rescue system, etc.

Gas Void Fraction Measurement in Two-Phase Gas/Liquid Slug Flow Using Acoustic Emission Technology

2009 ◽  
Vol 131 (6) ◽  
Author(s):  
S. Al-lababidi ◽  
A. Addali ◽  
H. Yeung ◽  
D. Mba ◽  
F. Khan
Keyword(s):  
Acoustic Emission ◽  
Flow Regime ◽  
Void Fraction ◽  
Slug Flow ◽  
Chemical Engineering ◽  
Oil And Gas ◽  
Gas Production ◽  
Engineering Industry ◽  
Two Phase ◽  
Gas Void Fraction

The gas-liquid two-phase slug flow regime phenomenon is commonly encountered in the chemical engineering industry, particularly in oil and gas production transportation pipelines. Slug flow regime normally occurs for a range of pipe inclinations, and gas and liquid flowrates. A pipeline operating in the slug flow regime creates high fluctuations in gas and liquid flowrates at the outlet. Therefore, the monitoring of slugs and the measurement of their characteristics, such as the gas void fraction, are necessary to minimize the disruption of downstream process facilities. In this paper, a correlation between gas void fraction, absolute acoustic emission energy, and slug velocities in a two-phase air/water flow regime was developed using an acoustic emission technique. It is demonstrated that the gas void fraction can be determined by measurement of acoustic emission.

Study of Slug Control Techniques in Pipeline Systems

2014 ◽  
Author(s):  
P. C. C. Monteiro ◽  
L. Loureiro Silva ◽  
J. L. A. Vidal ◽  
Theodoro A. Netto
Keyword(s):  
Control System ◽  
Flow Rate ◽  
Oil And Gas ◽  
Gas Production ◽  
Low Flow ◽  
Flow Loop ◽  
Two Phase ◽  
Automated Control ◽  
Oil And Gas Production ◽  
Automated Control System

Severe slugging may occur at low flow rate conditions when a downward inclined pipeline is followed by a vertical riser. This phenomenon is undesirable for offshore oil and gas production due to large pressure and flow rate fluctuations. It is of great technological relevance to develop reliable and economical means of severe slugging mitigation. This study aims to develop an automated control system to detect and mitigate the formation of severe slugging through a choke valve and a series of sensors. As a first step, an overall flow map is generated to indicate the region within which severe slugging may occur based on Boe’s criterion [1] and Taitel’s model [2, 3]. It was possible to obtain different flow patterns by controlling the rate of water and gas injection. The aim of this paper is, however, the formation of severe slugs and study of mitigation techniques. In the control part, we used a choke valve controlled by software which is in feedback with data from a system with pressure, temperature, flow, which are able to measure even small changes in the relevant parameters to the model. A two-phase flow loop was built for the study of severe slugging in pipeline-riser system with air and water as work fluids. The inner diameter of riser and flowline is 76.2 mm. The riser is 20 meters high and the flowline is 15 meters long and could be inclined upward or downward up to 8-degree. It has been shown by experiments how riser slugging can be controlled by automated control system.

scholarly journals Characterization of Physical Field and Flow Assurance Risk Analysis of Subsea Cage-Sleeve Throttling Valve

2021 ◽  
Vol 9 ◽  
Author(s):  
Donglei Jiang ◽  
Wenbo Meng ◽  
Yi Huang ◽  
Yi Yu ◽  
Youwei Zhou ◽  
...  
Keyword(s):  
Low Temperature ◽  
Production System ◽  
Oil And Gas ◽  
Negative Impact ◽  
Hydrate Formation ◽  
Simulation Method ◽  
Gas Production ◽  
Oil And Gas Development ◽  
Regular Production ◽  
Subsea Production System

The subsea production system is presently widely adopted in deepwater oil and gas development. The throttling valve is the key piece of equipment of the subsea production system, controlling the safety of oil and gas production. There are many valves with serious throttling effect in the subsea X-tree, so the hydrate formation risk is relatively high. In this work, a 3D cage-sleeve throttling valve model was established by the numerical simulation method. The temperature and pressure field of the subsea throttling valve was accurately characterized under different prefilling pressure, throttling valve opening degree, and fluid production. During the well startup period, the temperature of the subsea pipeline is low. If the pressure difference between the two ends of the pipeline is large, the throttling effect is obvious, and low temperature will lead to hydrate formation and affect the choice of throttling valve material. Based on the analysis of simulation results, this study recommends that the prefilling pressure of the subsea pipe is 7–8 MPa, which can effectively reduce the influence of the throttling effect so that the downstream temperature can be kept above 0°C. At the same time, in regular production, a suitable choke size is opened to match the production, preventing the serious throttling effect from a small choke size. According to the API temperature rating table, the negative impact of local low temperature caused by the throttling effect on the temperature resistance of the pipe was considered, and the appropriate subsea X-tree manifold material was selected to ensure production safety. The hydrate phase equilibrium curve is used to estimate the hydrate formation risk under thermodynamic conditions. Hydrate inhibitors are injected to ensure downstream flow safety.

On the Numerical Modeling of Slug and Intermittent Flows in Oil and Gas Production

2017 ◽  
Author(s):  
Angela O. Nieckele ◽  
João N. E. Carneiro
Keyword(s):  
Oil And Gas ◽  
Fluid Model ◽  
Dynamic Pressure ◽  
Time Discretization ◽  
Gas Production ◽  
Two Phase ◽  
Dynamic Simulations ◽  
Oil And Gas Production ◽  
Two Fluid Model ◽  
Two Fluid

Recent advances on the modeling of two-phase flows in pipes have shown that the accurate modeling of Two-Fluid equations allow the dynamic simulation of various regimes within a single numerical framework, diminishing the empiricism associated with the flow-pattern dependent closure relations. Such “Regime-Capturing” approaches have been traditionally called “Slug-Capturing”, as a reference to dynamic simulations of stratified-to-slug transition. In this paper, we will outline several examples of applications, ranging from horizontal stratified wavy, slug and annular flows, to vertical annular and intermittent flows. Vertical flow has been a bottleneck in Slug Capturing due to ill-posedness of the Two-Fluid Model. Ill-posedness of the model equations will be briefly addressed along with different regularization methods and stabilizing terms based on physical behavior, such as shape profile factors and dynamic pressure contributions. In order to numerically solve the governing system of equations, the finite volume method is employed with Upwind and second order TVD spatial discretization schemes, along with first order time discretization. Flow parameters such as temperature and pressure drop are determined as well as film thickness and wave characteristics of both annular and stratified flow, and slug velocity, length and frequency in slugging cases. Comparison with experimental data for annular, slug and stratified flows, with different fluids and pipeline configurations are presented, illustrating the good performance of the methodology.

Numerical simulation of two-phase flow regime in horizontal pipeline and its validation

2018 ◽  
Vol 28 (6) ◽  
pp. 1279-1314 ◽  
Author(s):  
Sam Ban ◽  
William Pao ◽  
Mohammad Shakir Nasif
Keyword(s):  
Flow Regime ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Gas Production ◽  
Liquid Holdup ◽  
Two Phase ◽  
Horizontal Pipe ◽  
Oil And Gas Production ◽  
Content Type ◽  
The Difference

Purpose The purpose of this paper is to investigate oil-gas slug formation in horizontal straight pipe and its associated pressure gradient, slug liquid holdup and slug frequency. Design/methodology/approach The abrupt change in gas/liquid velocities, which causes transition of flow patterns, was analyzed using incompressible volume of fluid method to capture the dynamic gas-liquid interface. The validity of present model and its methodology was validated using Baker’s flow regime chart for 3.15 inches diameter horizontal pipe and with existing experimental data to ensure its correctness. Findings The present paper proposes simplified correlations for liquid holdup and slug frequency by comparison with numerous existing models. The paper also identified correlations that can be used in operational oil and gas industry and several outlier models that may not be applicable. Research limitations/implications The correlation may be limited to the range of material properties used in this paper. Practical implications Numerically derived liquid holdup and holdup frequency agreed reasonably with the experimentally derived correlations. Social implications The models could be used to design pipeline and piping systems for oil and gas production. Originality/value The paper simulated all the seven flow regimes with superior results compared to existing methodology. New correlations derived numerically are compared to published experimental correlations to understand the difference between models.

scholarly journals Modern approaches in creating systems to manage the maintenance of control and measuring devices and automation at oil and gas production enterprises

2021 ◽  
Vol 24 (1) ◽  
pp. 55-61
Author(s):  
E. M. Mekhtiev ◽  
Keyword(s):  
Control Systems ◽  
Business Processes ◽  
Oil And Gas ◽  
Economic Effect ◽  
Gas Production ◽  
Functional Requirements ◽  
Oil And Gas Production ◽  
Industrial Enterprises ◽  
Measuring Devices ◽  
Service Standards

The article presents the issues related to the architecture design of the control systems for maintenance and automation of measurement equipment, that includes various subsystems and elements as components for the organization of business processes for the maintenance of large industrial enterprises. Those systems take into account the current realities when creating complex digital models and the place of such systems in the information space. The functional requirements that the control system must meet during implementation are defined, and the approaches to the development and updating of service standards are proposed. Taking into account the general trend that consists in the increasing amount of information collected and processed from the field level, a variety of technological objects, as well as the increasing autonomy and complexity of control systems, the task of organizing timely maintenance and repair, and processing of the results using traditional methods, is becoming unsolvable. The ensuring of an independent assessment of the quality and timeliness of work, the impossibility of misrepresenting information about the service is becoming the key point to build transparent relationships in service organization. This article describes the methods and algorithms of business processes necessary to design and implement such systems. Based on the described methodology, an information system was developed, and an assessment of the economic effect was carried out using the results of its implementation and adaptation

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