scholarly journals A Data Size Reduction Approach Applicable in Process Control System of Oil and Gas Plants

2020 ◽  
Vol 12 (2) ◽  
pp. 639
Author(s):  
Reza Abbasinejad ◽  
Farzad Hourfar ◽  
Chandra Mouli R Madhuranthakam ◽  
Ali Elkamel
Keyword(s):  
Oil And Gas ◽  
Process Control System ◽  
Monitoring Systems ◽  
Process Variables ◽  
Performance Quality ◽  
Mathematical Techniques ◽  
And Performance ◽  
The Cost ◽  
And Storage ◽  
Gas Plants

In oil and gas plants, the cost of devices applicable for supervising and controlling systems directly depends on the transmission and storage systems, which are related to the data size of process variables. In this paper, process variables frequency-domain and statistical analysis results have been studied to infer if there exists any possibility to reduce data size of the process variables without loss of any necessary information. Although automatic control is not applicable in a shutdown condition, for generalization of the obtained results, unscheduled shutdown data has also been analyzed and studied. The main goal of this paper is to develop an applicable algorithm for oil and gas plants to decrease the data size in controlling and monitoring systems, based on well-known and powerful mathematical techniques. The results show that it is possible to reduce the size of data dramatically (more than 99% for controlling, and more than 55% for monitoring purposes in comparison with existing methods), without loss of vital information and performance quality.

Main approaches to estimating the cost of shareholder equity of oil and gas producers

2020 ◽  
Vol 26 (3) ◽  
pp. 685-697
Author(s):  
O.V. Shimko
Keyword(s):  
Oil And Gas ◽  
Oil Prices ◽  
Minimum Cost ◽  
Free Cash Flow ◽  
Annual Reports ◽  
Comparative Approach ◽  
Economic Activities ◽  
Advantages And Disadvantages ◽  
Oil And Gas Producers ◽  
The Cost

Subject. The study analyzes generally accepted approaches to assessing the value of companies on the basis of financial statement data of ExxonMobil, Chevron, ConocoPhillips, Occidental Petroleum, Devon Energy, Anadarko Petroleum, EOG Resources, Apache, Marathon Oil, Imperial Oil, Suncor Energy, Husky Energy, Canadian Natural Resources, Royal Dutch Shell, Gazprom, Rosneft, LUKOIL, and others, for 1999—2018. Objectives. The aim is to determine the specifics of using the methods of cost, DFC, and comparative approaches to assessing the value of share capital of oil and gas companies. Methods. The study employs methods of statistical analysis and generalization of materials of scientific articles and official annual reports on the results of financial and economic activities of the largest public oil and gas corporations. Results. Based on the results of a comprehensive analysis, I identified advantages and disadvantages of standard approaches to assessing the value of oil and gas producers. Conclusions. The paper describes pros and cons of the said approaches. For instance, the cost approach is acceptable for assessing the minimum cost of small companies in the industry. The DFC-based approach complicates the reliability of medium-term forecasts for oil prices due to fluctuations in oil prices inherent in the industry, on which the net profit and free cash flow of companies depend to a large extent. The comparative approach enables to quickly determine the range of possible value of the corporation based on transactions data and current market situation.

ABOUT NECESSITY OF MATHEMATICAL MODELING OF THE BUSINESS PROCESS OF COST ESTIMATE CALCULATIONS IN THE CONSTRUCTION OF OIL AND GAS FACILITIES

2017 ◽  
pp. 139-145
Author(s):  
R. I. Hamidullin ◽  
L. B. Senkevich
Keyword(s):  
Mathematical Modeling ◽  
Quality Assessment ◽  
Business Process ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Construction Organizations ◽  
The Cost ◽  
Cost Of Construction

A study of the quality of the development of estimate documentation on the cost of construction at all stages of the implementation of large projects in the oil and gas industry is conducted. The main problems that arise in construction organizations are indicated. The analysis of the choice of the perfect methodology of mathematical modeling of the investigated business process for improving the activity of budget calculations, conducting quality assessment of estimates and criteria for automation of design estimates is performed.

Return on Invesment (ROI) of Software Product: A Systematic Literature Review

2015 ◽  
Vol 6 (1) ◽  
pp. 50-57
Author(s):  
Rizqa Raaiqa Bintana ◽  
Putri Aisyiyah Rakhma Devi ◽  
Umi Laili Yuhana
Keyword(s):  
Return On Investment ◽  
Assessment Criteria ◽  
Software Product ◽  
And Performance ◽  
Rational Consideration ◽  
Actual Return ◽  
The Cost ◽  
Investment Models ◽  
The Impact

The quality of the software can be measured by its return on investment. Factors which may affect the return on investment (ROI) is the tangible factors (such as the cost) dan intangible factors (such as the impact of software to the users or stakeholder). The factor of the software itself are assessed through reviewing, testing, process audit, and performance of software. This paper discusses the consideration of return on investment (ROI) assessment criteria derived from the software and its users. These criteria indicate that the approach may support a rational consideration of all relevant criteria when evaluating software, and shows examples of actual return on investment models. Conducted an analysis of the assessment criteria that affect the return on investment if these criteria have a disproportionate effort that resulted in a return on investment of a software decreased. Index Terms - Assessment criteria, Quality assurance, Return on Investment, Software product

scholarly journals Manufacturing and development of a bolted GFRP flange joint for oil and gas applications

2021 ◽  
pp. 095440542198951
Author(s):  
Muhsin Aljuboury ◽  
Md Jahir Rizvi ◽  
Stephen Grove ◽  
Richard Cullen
Keyword(s):  
Pressure Vessel ◽  
Oil And Gas ◽  
Polyester Resin ◽  
High Strength ◽  
Adhesively Bonded ◽  
Acceptable Quality ◽  
Composite Pipe ◽  
And Performance ◽  
Composite Pipes

The goal of this experimental study is to manufacture a bolted GFRP flange connection for composite pipes with high strength and performance. A mould was designed and manufactured, which ensures the quality of the composite materials and controls its surface grade. Based on the ASME Boiler and Pressure Vessel Code, Section X, this GFRP flange was fabricated using biaxial glass fibre braid and polyester resin in a vacuum infusion process. In addition, many experiments were carried out using another mould made of glass to solve process-related issues. Moreover, an investigation was conducted to compare the drilling of the GFRP flange using two types of tools; an Erbauer diamond tile drill bit and a Brad & Spur K10 drill. Six GFRP flanges were manufactured to reach the final product with acceptable quality and performance. The flange was adhesively bonded to a composite pipe after chamfering the end of the pipe. Another type of commercially-available composite flange was used to close the other end of the pipe. Finally, blind flanges were used to close both ends, making the pressure vessel that will be tested under the range of the bolt load and internal pressure.

Pareto domain: an invaluable source of process information

2020 ◽  
Vol 0 (0) ◽  
Author(s):  
Geraldine Cáceres Sepúlveda ◽  
Silvia Ochoa ◽  
Jules Thibault
Keyword(s):  
Case Studies ◽  
Optimal Solution ◽  
Pareto Optimal ◽  
Process Variables ◽  
Optimal Point ◽  
Decision Variables ◽  
Visualization Tools ◽  
Pareto Domain ◽  
And Performance ◽  
Typical Process

AbstractDue to the highly competitive market and increasingly stringent environmental regulations, it is paramount to operate chemical processes at their optimal point. In a typical process, there are usually many process variables (decision variables) that need to be selected in order to achieve a set of optimal objectives for which the process will be considered to operate optimally. Because some of the objectives are often contradictory, Multi-objective optimization (MOO) can be used to find a suitable trade-off among all objectives that will satisfy the decision maker. The first step is to circumscribe a well-defined Pareto domain, corresponding to the portion of the solution domain comprised of a large number of non-dominated solutions. The second step is to rank all Pareto-optimal solutions based on some preferences of an expert of the process, this step being performed using visualization tools and/or a ranking algorithm. The last step is to implement the best solution to operate the process optimally. In this paper, after reviewing the main methods to solve MOO problems and to select the best Pareto-optimal solution, four simple MOO problems will be solved to clearly demonstrate the wealth of information on a given process that can be obtained from the MOO instead of a single aggregate objective. The four optimization case studies are the design of a PI controller, an SO2 to SO3 reactor, a distillation column and an acrolein reactor. Results of these optimization case studies show the benefit of generating and using the Pareto domain to gain a deeper understanding of the underlying relationships between the various process variables and performance objectives.

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