scholarly journals Innovation and Technology needs for the oil and gas industry in Peru

2021 ◽  
Vol 3 (10) ◽  
pp. 94-99
Author(s):  
Christ Barriga P ◽  
Lesly Aliaga G. ◽  
Jorge Bermejo N. ◽  
Pamela Catari C. ◽  
Romina Martinez S. ◽  
...  
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Fuel Quality ◽  
Process Safety ◽  
Gas Industry ◽  
New Era ◽  
Strong Focus ◽  
Innovation And Technology ◽  
High Volatility ◽  
Gas Price

Peru experienced the oil rush due to the discovery of reserves, but since the Camisea project was found in the Cuzco region, oil has been in decline, Peru is rated too low competitiveness rates below countries such as Ecuador and Colombia. The hydrocarbons sector accounted for 54% of the total energy tender in 2012. The oil and gas industry has advanced technologically. Today, the technological challenges are focused on taking advantage of unconventional resources having a strong focus on process safety, environmental management, and fuel quality. In a new era of high volatility in the oil and gas price, technology is crucial to maximizing the value; among them, the Modernization Project of the Talara Refinery and its process is announced. Peru is perfecting technologies to take advantage of gas and oil that are difficult to access so that its role in the Peruvian economy is fundamental.

New Well Intervention Means as an Answer to Offshore Minimalist Platform Concept: A Breakthrough from Mahakam, Indonesia

2021 ◽  
Author(s):  
Risal Rahman ◽  
Reyhan Hidayat ◽  
Pratika Siamsyah Kurniawati ◽  
Rantoe Marindha ◽  
Gerardus Putra Pancawisna ◽  
...  
Keyword(s):  
Oil And Gas ◽  
Cost Optimization ◽  
Oil And Gas Industry ◽  
Project Planning ◽  
Gas Industry ◽  
Safety Issues ◽  
Coiled Tubing ◽  
Remote Operation ◽  
Innovation And Technology ◽  
Hazardous Zone

Abstract Nowadays oil and gas industry are encouraging the independents and majors to take a fresh look at the technology and concepts required to develop marginal shallow water fields using a minimal platform approach. Innovation on well intervention means (lighter, smaller and less footprint) that fit for Offshore Minimalist Platform (OMP) is needed, including optimizing time and cost during well intervention activities in OMP. To achieve the objectives, well intervention innovation and technology are the main focuses. Intervention activities commonly done on campaign basis with several units (slickline, wireline, coiled tubing, testing) shall be integrated in a safe manner. The approach of integration shall signify these points:Identifying potential jobs in OMP to be done by well intervention methodsIdentifying necessary well intervention means and methods to support the jobs (combo unit, micro coil, hazardous zone redefinition, remote operation)Creating project planning and schedulingPerforming site visit and risk assessmentImplementation and operational executionEvaluation of overall project execution result The following results were obtained after the integration performed:No major safety issues during operationExemplary method and risk assessment for well intervention activities which can be applied for next campaignsTrials on well intervention new units and method (combo unit, micro coil, hazardous zone redefinition, remote operation), were safely performed with some optimization100% success ratio60% on supply boat arrangement35% efficiency in N2 consumption for CT operation45% efficiency in diesel consumption20% - 40% efficiency in Rig Up Time28% less in Job Cost compared to conventional unit These innovations are proven as reliable method to answer OMP challenges with main advantages on footprint and cost optimization. Through this paper, we would like to share lucrative well intervention breakthrough and innovation in OMP with measurable milestones.

Intelligent Pipe, A New Monitoring Solution For Your Wells

2021 ◽  
Author(s):  
Francois-Xavier Bulard ◽  
Emmanuel Tavernier ◽  
Antoine Deroubaix ◽  
Umberto Caruso
Keyword(s):  
Oil And Gas ◽  
Microelectromechanical Systems ◽  
Safety Margin ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
New Era ◽  
Well Integrity ◽  
Different Depths ◽  
Intelligent Technology ◽  
Well Data

Abstract Well integrity to prevent catastrophic damage has always been a key focus of the Oil and Gas industry and Oil and Gas operators keep working to reinforce it. Today, well integrity data available throughout the life of the well remains limited. Being able to know the wellbore parameters at different depths would help operators anticipate and identify problems throughout the life of their well. In addition, knowing the exact performances of each pipe will provide operators with the actual safety margin they have against well load cases, therefore allowing them to better monitor the well, based on real well data. The integration of a pressure and temperature sensor element in tubulars is possible thanks to the use of MEMS (Microelectromechanical systems) technology. Low-power consumption combined with an adapted transmission technology opens the door to the use of this intelligent technology inside an O&G well. Embedded sensors allow operators to access previously inaccessible well areas in real time. The qualification of this technology is carried out in a way as to ensure the integrity of the system and its long-term viability. This paper will present an innovative intelligent tube solution, from its qualification to its deployment. This solution will change the way wells are monitored. By combining the data retrieved by the sensors with the actual resistance of each pipe in the well, operators will be able to adjust their production parameters while ensuring the safety of their installation. This approach is new and, leveraging the latest IoT technologies, opens a new era for easier and optimized data-based Oil and Gas well monitoring.

scholarly journals Do Oil and Gas Risk Factors Matter in the Malaysian Oil and Gas Industry? A Fama-MacBeth Two Stage Panel Regression Approach

Energies ◽  
2020 ◽  
Vol 13 (5) ◽  
pp. 1154 ◽  
Author(s):  
Mohmmad Enamul Hoque ◽  
Soo Wah Low ◽  
Mohd Azlan Shah Zaidi
Keyword(s):  
Risk Factors ◽  
Exchange Rate ◽  
Risk Premium ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Oil Price ◽  
Panel Regression ◽  
Gas Industry ◽  
Systematic Risk Factors ◽  
Gas Price

This study examines whether oil and gas risk factors are priced in the returns of Malaysian oil and gas stocks employing asset pricing model with improved version of Fama-MacBeth two-stage panel regression. The findings reveal that oil price risk, gas price risk, and exchange rate risk are priced factors in the returns of oil and gas stocks, alongside market-based risk factors. Oil price, gas price and exchange rate factors are found to be associated with positive risk premium implying that they are systematic risk factors in the Malaysian oil and gas industry. Investors demand compensation for exposure to changes in oil price, gas price and exchange rate, implying that the risk cannot be eliminated through diversification. The risk premium for common systematic risk factors such as market, book-to-market, and momentum factors are found to be negative. The results suggest that in the Malaysian oil and gas industry, momentum driven strategy produces negative returns and investors receive higher returns from investing in growth oriented oil and gas stocks. Our results offer implications for asset pricing and portfolio management.

scholarly journals International Oil Companies Sustainability after Oil Price decline

2017 ◽  
Vol 11 (1) ◽  
pp. 157-167
Author(s):  
Adrian D. Tantau ◽  
Mohammadreza Khorshidi ◽  
Ali Asghar Sadeghi Mojarad
Keyword(s):  
Business Models ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Green Energy ◽  
Gas Industry ◽  
Oil Companies ◽  
Market Situation ◽  
Important Challenge ◽  
Gas Price ◽  
Sustainability Report

Abstract International Oil Companies (IOC’s) had been playing a major role in oil industry at the beginning of 20th century. They had many volatility during last century and faced with many obstacles which forced them to change their business models and improve their outcome to satisfy their shareholders. One of the most important challenges was oil nationalization in oil producer countries which were happened by establishment of NOCs. Later green energy issue which came from CO2 emission problem happened and recently, oil and gas price diminish challenges, involve all IOCs with the most important challenge in last century after all. Among all those events, one of the most important key values which have been observed by IPIECA, API and IOGP associations every year is Sustainability. The objectives of the research are study all issues and indicators of sustainability in IOCs. Each indicator has faced with different strategy via IOCs in different market situation. The importance of this key value cause that it is observed by some important association like IPIECA, API and IOGP each year. As the scarcity of related references for business model in oil and gas industry, literature review of some resources and annual sustainability report followed by a questionnaire as a survey are also selected methods for recent major challenges to achieve required result.

Earth observation remote sensing for oil and gas: A new era

2021 ◽  
Vol 40 (1) ◽  
pp. 26-34 ◽  
Author(s):  
Dominique Dubucq ◽  
Leo Turon ◽  
Benoit Blanco ◽  
Hélène Bideaud
Keyword(s):  
Oil And Gas ◽  
Gas Sensing ◽  
Oil And Gas Industry ◽  
Earth Observation ◽  
Gas Industry ◽  
New Era ◽  
Sensing Systems ◽  
The Earth ◽  
Earth Observation Satellites ◽  
New Sensors

In the last seven years, many earth observation satellites from national agencies and commercial providers have been launched, making huge volumes of data freely available to anyone. Open-access software and cloud computing tools also have been developed by the earth observation community. Those, as well as new sensors and vectors such as drone-borne hyperspectral cameras or gas-sensing systems are opening a number of applications for the oil and gas industry in exploration, production, and environmental monitoring.

Eliminating fatalities from the upstream oil and gas industry

2019 ◽  
Vol 59 (2) ◽  
pp. 601
Author(s):  
Chris Hawkes
Keyword(s):  
Oil And Gas ◽  
Motor Vehicle ◽  
International Association ◽  
Safety Data ◽  
Oil And Gas Industry ◽  
Individual Member ◽  
Process Safety ◽  
Gas Industry ◽  
Global Industry ◽  
Oil And Gas Producers

The International Association of Oil and Gas Producers (IOGP) is a global forum in which member companies identify and share best practices to achieve improvements in areas such as health, safety, the environment, security, social responsibility and operations. IOGP members collectively produce 40% of the world’s oil and gas. IOGP has been collecting annual safety data from its members since 1985: this database has grown to be the largest in the oil and gas industry, representing 2999 million workhours and operations in 104 countries in 2017. Having this large database of information and standardised reporting allows trending and analysis on a scale that is not possible for any individual member company. This is particularly true for deriving trends for fatal, and major process safety events that individual companies may only see infrequently. In the 5 years leading up to 2015 there were 85 fatalities reported by IOGP members per year on average, but none of these incidents were ‘new’ and we recognise the causes of most of them. Started in 2016, after 2 consecutive years of an increase in the fatal accident rate, IOGP’s Project Safira aims to provide clear solutions to prevent fatalities due to process safety events, aviation incidents and motor vehicle crashes. A fourth project area is industry wide implementation of a single, common, standardised set of ‘Life-Saving Rules’. We want to make sure that never again shall we read of a fatal incident and feel like we have seen it before. We also want to learn together, as the global industry that we are, and eliminate fatalities from occurring.

Human factors in process safety: the top 10 issues

2013 ◽  
Vol 53 (2) ◽  
pp. 444
Author(s):  
Ronny Lardner
Keyword(s):  
Environmental Management ◽  
Human Factors ◽  
Business Performance ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Process Safety ◽  
Process Industries ◽  
Gas Industry ◽  
The Uk ◽  
Resource Sector

There is an increasing emphasis on the importance of managing human factors to achieve improved safety and business performance in the chemical process industries and resource sector. Major process safety accidents, including those at Texas City, Varanus Island and Montara have again highlighted the importance of addressing this aspect of performance. Recently the National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) announced an additional focus on human factors as part of their regulatory activities, noting that these factors are relevant to performance across safety, integrity, and environmental management. This extended abstract explains how the subject of human factors in process safety has been defined in the UK, categorised by the top 10 key topics. How this targeted approach helps manage this aspect of process safety performance is also discussed. Finally, this extended abstract shows how safety culture and behavioural safety are not the same as human factors. Case studies of the oil and gas industry show how attending to the top 10 delivers benefits by strengthening the effectiveness of management systems, and improving human reliability. This extended abstract directs the reader to a range of high-quality, open-source research, guidance, tools, and techniques to improve across the top 10 human-factors subjects in process safety.

Upstream Oil and Gas Industry Process Safety Event Data: A First Step

2014 ◽  
Author(s):  
Kirsty Walker ◽  
Patrick Toutain ◽  
Wendy Poore
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Process Safety ◽  
Event Data ◽  
Gas Industry ◽  
Safety Event

scholarly journals Assessment of Offshore Piping Composite Repair Technology for Life Extension Program Case in Pertamina Hulu Energy West Madura Offshore

2019 ◽  
Vol 269 ◽  
pp. 06005
Author(s):  
Muhamad Arifin ◽  
Arif Cahyono ◽  
Idam Putra ◽  
Badrul Munir
Keyword(s):  
Oil And Gas ◽  
Good Condition ◽  
Oil And Gas Industry ◽  
Life Extension ◽  
Process Safety ◽  
Pressure System ◽  
Gas Industry ◽  
Composite Repair ◽  
External Corrosion ◽  
Extension Program

The pipe work repair method such as clamps and pipe connector as the use of metallic repair component have been used for maintenance and repair application in oil and gas industry and cover the most common types of defect to pressurize system like internal and external corrosion and also cover situations where the damage is severe. On the other hand with a process safety precausion and production concern, in oil and gas facility the use of metallic repair is very challenging and most of the time will come as last option scenario. Composite repair which are now increasing in application to pipe repair situations may come as a solution. This paper provides assessment of offshore piping composite repair for life extension program of pressure system in West Madura Offshore. Assessment come to a conclusion that the composite repair at field PHE WMO which operate on envelop of 700 psi and temperature range of 20°C-80°C are still in good condition and retain the integrity of the asset, from where then the repair is considered to extent its lifetime.

scholarly journals Impact of Industry-Specific Risk Factors on Stock Returns of the Malaysian Oil and Gas Industry in a Structural Break Environment

Mathematics ◽  
2022 ◽  
Vol 10 (2) ◽  
pp. 199
Author(s):  
Mohammad Enamul Hoque ◽  
Soo-Wah Low
Keyword(s):  
Risk Factors ◽  
Exchange Rate ◽  
Stock Returns ◽  
Oil And Gas ◽  
Structural Break ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Specific Risk ◽  
Gas Price ◽  
Industry Risk

This study examines the impact of industry-specific risk factors such as oil price, gas price, and exchange rate on stock returns of Malaysian oil and gas firms in a structural break environment by employing the break least square approach of Bai and Perron (1998, 2003). Existing studies fall short of providing such empirical evidence. The results document evidence of structural breaks in the relationship between industry risk factors and the stock returns of the oil and gas industry. Industry-specific risk factors are shown to significantly affect the stock returns of oil and gas industry sub-sectors alongside market-based risk factors. The results reveal that the beta values of oil price, gas price, and exchange rate vary across sub-periods hence confirming that exposure of oil and gas stocks to industry risk factors varies over time and across sub-periods. The effects of oil, gas, and exchange rate risk factors also differ across the sub-industry, with impacts and directions largely dependent on the core business activities of the oil and gas sub-industries. The empirical results offer implications for asset managers and investors.

Sign in / Sign up

Export Citation Format

Share Document