Introduction to aspects of economics and logistics

1978 ◽  
Vol 290 (1366) ◽  
pp. 3-19 ◽  
Keyword(s):  
Capital Investment ◽  
Sedimentary Basins ◽  
Economic Implications ◽  
High Productivity ◽  
Capital Costs ◽  
Oil Companies ◽  
The Past ◽  
Codes Of Practice ◽  
Financial Arrangements ◽  
Exploration And Development

During the past five years the oil industry has moved its exploration and development programmes into progressively deeper waters, so that production operations in 150 m (500 feet) of water are becoming conventional, and exploration in water depths of over 300 m (1000 feet) commonplace. The first part of this introductory paper is devoted to areas of opportunity in the deeper waters of the sedimentary basins of the world, with particular emphasis on the technical merits of these areas, and the size and high productivity necessary to justify their development. A description follows of the trend in licensing terms, the tax and financial arrangements that might apply, and the growing involvement of national oil companies and national energy policies with their consequent effect on the control of developments, right to export oil, and the division of profits. The increasing importance of logistic and environmental factors on the technological requirements both in exploration and development is outlined, and some examples drawn of their political and sociological impacts. The development of supporting infrastructure in remote environments, of national preference for materials and services, codes of practice and further constraints in the overall capital investment programmes, are also outlined. The final section deals with the economic implications of these international activities where during the course of the next 25 years it is expected that offshore oil production rates will double. The nature of the risk investments where exploration wells now cost between £3 and £5 M each, and capital costs for individual projects are over £1000 M, are examined, reflecting differences between the private sector objectives and national oil company objectives. Examples can be drawn from events in O.P.E.C. areas during the past five years.

Evaluation of The Existing State of Geothermal Exploration and Development in Nigeria

2006 ◽  
Vol 2 (2) ◽  
pp. 118-123 ◽  
Author(s):  
Sedara Samuel Omosule ◽  
Joshua E.O
Keyword(s):  
Low Temperature ◽  
Geothermal Energy ◽  
Hot Spring ◽  
Sedimentary Basins ◽  
Current Status ◽  
Central State ◽  
Geothermal Exploration ◽  
Warm Spring ◽  
Oil Companies ◽  
Exploration And Development

Relatively little expenditure for hydroelectricity and fossil fuels have had a restraining influence on levels of exploration and development for geothermal energy resources in Nigeria for the past several years. The focus of development has been in the areas of low temperature geothermal energy involving the exploration and assessment of hot spring resources primarily for recreational applications – although possibly for other direct uses depending on local infrastructure and access to appropriate energy markets. The geological structure of Nigeria influences geothermal exploration extent within each geological province. Sedimentary basins in Nigeria have been explored for hydrocarbons for several decades, thus the oil companies collected large subsurface temperature data basis. But not much is known about geothermal conditions within Nigerian Precambrian crystalline province. On the basis of BHT data from oil wells it has been found that geothermal gradient in Niger Delta ranges from 1.5 to 4.9°C/100m and in Anambra Basin (directly to the north) it can reach 5.7°C/100m. Exploration for geothermal energy in northern Nigeria based on shallow water wells (down to 600 m deep) was carried out over 20 years ago. The other aspect of geothermal exploration in Nigeria is investigating of the thermal springs and seepages, which occur mainly within sediments of the Middle and Upper Benue Trough. The water of the warmest springs in that area: Akiri and Ruwan Zafi have the temperature about 56°C and it suggests the occurrence of some geothermal anomalies. So far, there are probably only three (direct) geothermal energy utilisation sites in Nigeria. The Ikogosi warm spring (37°C) located in south-western part of the country, in Ekiti state, the Wikki warm spring (39°C) located in Bauchi (North-eastern) part of Nigeria and the Rafin Rewa spring (42°C) located in Plateau (North-central) state of Nigeria. Hence this paper reviews the current status of the geothermal industry (both high and low temperature) in Nigeria.

Light Rail in Britain and France

2005 ◽  
Vol 1930 (1) ◽  
pp. 79-87 ◽  
Author(s):  
J. William Vigrass ◽  
Andrew K. Smith
Keyword(s):  
Capital Investment ◽  
Light Rail ◽  
Construction Costs ◽  
Transit Systems ◽  
Secondary Sources ◽  
The Past ◽  
Transit Ridership ◽  
Great Divergence ◽  
Street Railways ◽  
Heavy Rail

Great Britain and France have experienced a dramatic resurgence of light rail in the past two decades. Beginning in the early 1980s, following a 30-year abandonment of street railways in favor of motorbuses, cities in both countries developed new light rail transit systems as a response to declining transit ridership, faded downtowns in need of revitalization, and the high construction costs of heavy rail and metro. Britain and France have pursued greatly different approaches to the implementation of light rail. The purpose of this paper is to point out these differences and, through the use of case studies, draw conclusions as to the efficacy of each approach. A few cities in each country were studied with secondary sources. Commonality within each country was observed with great divergence between the two countries. In Britain, the requirements for light rail are onerous: a specific act of Parliament is needed for each new start. Each system must achieve full recovery of operating and maintenance costs and contribute toward capital investment while competing against unregulated buses. That some British systems have been built and successfully attract traffic is to the credit of their proponents. France has a more uniform approach published in government circulars. All French cities of substantial size must have a “versement transportes,” a 1% to 2% tax on salaries and wages dedicated to regulated and coordinated public transport. French new starts, which have no need to attain 100% cost recovery (the versement transportes covers operating losses), have been implemented in about half the time of those in Britain.

scholarly journals Public policy, public utility and citizens: The impact of privatization

2017 ◽  
Author(s):  
Μαντώ Λαμπροπούλου (Manto Lampropoulou)
Keyword(s):  
Public Utility ◽  
Network Industries ◽  
Public Enterprises ◽  
Economic Implications ◽  
The Past ◽  
Key Stakeholders ◽  
Post War ◽  
The Impact ◽  
The Relationship

Over the past two decades, utilities policy in Greece has been steadily shifting towards privatization and liberalization. This shift signified a critical reconsideration of the boundaries and the dynamics of the relationship between the state and the market in network industries. Public debate usually focuses on issues of ownership of public enterprises and economic performance. On the contrary, this book places the emphasis on the socio-economic implications of utilities policy for citizens. A key issue is the impact of privatization on the relationship between government (state), public enterprises (market) and citizens (society). The study covers the period from the post-war state monopolies to the current circumstances of mixed/private ownership of public enterprises and liberalized markets. The main questions addressed in this book are the following: What is the rationale (legitimization) for government intervention in the utilities sector? What are the politics of nationalization and privatization? How different policy contexts affect the institutional, organizational and regulatory framework of the utilities sector? Who are the key-stakeholders and policy actors? What is the role of citizens? What is the (re)distribution of utilities policy costs and benefits among stakeholders?

scholarly journals Dynamics of Conflicts and Criminal Activities in Warri and Environs, Delta State, Nigeria

2017 ◽  
Vol 15 (2) ◽  
Author(s):  
Ngozi Sandra Ikenyei
Keyword(s):  
Environmental Impact ◽  
Sexual Violence ◽  
Rural Livelihoods ◽  
Crimes Against Humanity ◽  
Oil Exploration ◽  
Economic Activities ◽  
Oil Companies ◽  
The Past ◽  
Community Interest ◽  
Shifting Boundaries

The onset of oil exploration in Warri and its environs accentuated the proliferation of ethnic conflict, militant and activist youth. Conflicts in Warri over the past years, are products of shifting boundaries and agitations for benefits accruing to oil bearing communities. These crises were occasioned by perception of neglect, deprivation, abuse and abandonment. Whenever there is crisis, heinous crimes against humanity were committed against inhabitants. Between 2005–2013, over 35 oil related conflicts have been recorded in Warri. This construal resource (oil) related conflicts are often accompanied with the perpetration of crimes that stamped political and economic activities. This impact on rural livelihoods and it reflects on how oil operations are prioritized over community interest. This leaves bitterness, resentments and grievances amongst the suffering citizens. While many researches focus on environmental impact of oil exploration and neglects from oil companies and government, few studies dwelt on the dynamics and modalities of conflicts resolution. The study revealed that killings, rape and sexual violence, kidnapping, stealing, torture/beating, systemic persecution of agitators and burning down of houses were the most prominent crimes committed against citizens whenever there is crisis.

scholarly journals Productivity and Institutions

2015 ◽  
Vol 11 (2) ◽  
pp. 375
Author(s):  
Gylfi Zoega
Keyword(s):  
19Th Century ◽  
Legal System ◽  
Industrial Revolution ◽  
Lower Cost ◽  
Standard Of Living ◽  
Gdp Per Capita ◽  
Past Century ◽  
High Productivity ◽  
The Past ◽  
Per Capita

Differences in productivity account for differences in output per capita between countries as well as changes in output and the standard of living for each country over long periods of time. During the first industrial revolution, one could already see the emergence of two groups of countries: the high- and the low-GDP per capita countries. The list of countries belonging to the highproductivity group has not changed much over the past century. Differences in institutions separate the two clubs. The high-productivity group is, amongst many other differences, characterized by less corruption, a better legal system, superior enforcement of contracts, a lower cost of starting a business and lower tariffs. Historical output series for Britain going back to the mid-19th century show that productivity has increased greatly and improved the standard of living.

scholarly journals Modeling of hydrocarbon systems and quantitative assessment of the hydrocarbon potential of Eastern Arctic seas

2021 ◽  
Vol 63 (4) ◽  
pp. 23-38
Author(s):  
E. A. Lavrenova ◽  
Yu. V. Shcherbina ◽  
R. A. Mamedov
Keyword(s):  
Quantitative Assessment ◽  
Oil And Gas ◽  
Sedimentary Basins ◽  
Water Area ◽  
Hydrocarbon Potential ◽  
Arctic Seas ◽  
Arctic Water ◽  
Oil Companies ◽  
Flow Maps ◽  
Assessment Factor

Background. Three prospective sedimentary complexes — Aptian-Upper Cretaceous, Paleogene and Neogene — are predicted in the waters of the Eastern Arctic seas. Here, the search for oil and gas is associated with harsh Arctic conditions at sea, as well as with high geological risks and significant expenditures under the conditions of poor knowledge of the region. In this regard, the localisation of prospecting drilling objects and the assessment of the geological risks of deposit discovery should be carried out.Aim. To assess geological risks and to determine the probability of discovering oil and gas fields, as well as to identify prospective areas for licensing and exploration in the water areas of the Eastern Arctic.Materials and methods. Structural and heat flow maps along with the results of geochemical analysis, as well as typical terrestrial sections were used as initial materials. Using the method of basin analysis, the modelling of generation-accumulation hydrocarbon systems (GAHS) and the quantitative assessment of its hydrocarbon potential in the Eastern Arctic water area was carried out. The assessment of geological risks and the probability of field discovery was performed using the conventional methodology widely applied by oil companies.Results. The GAHS modelling using a variation approach showed that, regardless of the kerogen type, with average values of Сorg in sediments, potential oil-and-gas source strata (OGSS) were capable of saturating the prospective objects with hydrocarbons. The “OGSS assessment” factor was determined as “encouraging” (0.7). Active geodynamic regime and the manifestation of several folding phases within the study area provided favourable conditions for the formation of anticlinaltraps in sedimentary basins. However, the cap rock quality rating was assessed as “neutral” (0.5). The overall risk for the “Trap assessment” factor was estimated based on the minimum criterion of 0.5.Conclusion. The most prospective areas recommended for licensing were selected, and the recommendations for further geological exploration work in these areas were given in order to clarify their hydrocarbon potential and reduce geological risks.

Step Change Transformation of Legacy Rigs to Autonomous Drilling Rigs

2021 ◽  
Author(s):  
Sergey Ziatdinov ◽  
Titto Thomas Philip
Keyword(s):  
Capital Investment ◽  
Business Performance ◽  
High Performance ◽  
Human Error ◽  
Oil And Gas ◽  
Business Environment ◽  
The Past ◽  
Automation Systems ◽  
Negative Effect ◽  
Drilling Rigs

Abstract During the past decade, drilling automation systems have been an attractive target for a lot of operating and drilling companies. Despite progress in automation in various industries, like mining and downstream, the drilling industry has lagged far behind in the real application of autonomous technologies implementation. This can be attributed to harsh environment, high level of uncertainty in input data, and that majority of stock is legacy drilling rigs, resulting in capital intensive implementations. In the past years there have been several attempts to create fully automated rigs, that includes surface automation and drilling automation. Such solutions are very attractive, because they allow people to move out of hazardous zones and, at the same time, improve performance. However, the main deficiency of such an approach is the very high capital investment required for development of highly bespoke rigs (Slagmulder 2016). And in the current business environment, with high volatility in oil and gas prices, plus the huge negative effect of the Covid-19 crisis on the world's economic situation, it would be hard to imagine that there are a lot of companies willing to make such a risky investment. In addition to this, due to the lack of demand, the market is full of relatively new, high-performance rigs. Taking all these into account, the obvious question is whether it makes sense to invest money and time into the development of drilling automation. The answer should be yes, for three substantial reasons:Automation improves personal safety, by moving people out of danger zones;Automation improves process safety, by transferring execution from person to machine, which reduces the risk of human error;Automation improves efficiency by bringing consistency to drilling and through the use of self-learning algorithms, which allow machines to drill each successive well better than the previous. This paper will not look into surface automation, such as pipe-handling, chemical and mud handling on site. The paper is focused on the subsurface, namely on the drilling automation process, the challenges that need to be overcome to deploy a vendor agnostic system on a majority of existing rigs. A vendor agnostic system is a modification of an operator's autonomous drilling system (Rassenfoss 2011), designed to use existing rigs, BHAs, and have minimum footprint on the rigs for operational use. A vendor agnostic system will increase adoption of automated technologies and further drive improvements in operational and business performance

scholarly journals On the Processes that Produce Hydrocarbon and Mineral Resources in Sedimentary Basins

Geosciences ◽  
2019 ◽  
Vol 9 (12) ◽  
pp. 520
Author(s):  
Lawrence Cathles
Keyword(s):  
Mineral Resources ◽  
Sedimentary Basins ◽  
Planetary Scale ◽  
Development Tools ◽  
Exploration And Development

Sedimentary basins are near-planetary scale stratigraphic-structural-thermochemical reactors that produce a cornucopia of organic and inorganic resources. The scale over which fluid movements coordinate in basins and the broad mix of processes involved is remarkable. Easily observed characteristics indicate the style of flow that has operated and suggest what kind of resources the basin has likely produced. The case for this proposition is built by reviewing and interpreting observations. Features that future basin models might include to become more effective exploration and development tools are suggested.

Remarks by Robert H. Frick

1973 ◽  
Vol 67 (5) ◽  
pp. 230-234
Author(s):  
Robert H. Frick
Keyword(s):  
Petroleum Industry ◽  
Host Countries ◽  
Oil Companies ◽  
The Past

It is impossible in a reasonable space of time to cover the changes that have occurred in relationships between host countries and oil companies since the first concession agreements in the early 1900’s. It is difficult to cover even the developments of the past three years. Oil producing countries have, of course, always wanted a greater share of the profits from producing operations within their borders and to exercise a greater control over such operations. With the use of hindsight it is possible to say that the degree to which these twin goals have been achieved over the past few years is not remarkable. I believe it is true, however, that five or even three years ago very few, if any, in the petroleum industry would have forecast the success which the producing countries have achieved.

Optimal Fisheries Investment: Comparative Dynamics for a Deterministic Seasonal Fishery

1983 ◽  
Vol 40 (12) ◽  
pp. 2069-2079 ◽  
Author(s):  
Anthony T. Charles
Keyword(s):  
Population Dynamics ◽  
Capital Stock ◽  
Capital Investment ◽  
Major Complication ◽  
Physical Capital ◽  
Optimal Investment ◽  
Programming Approach ◽  
Depreciation Rate ◽  
Capital Costs ◽  
Comparative Dynamics

A dynamic fisheries model is developed to simultaneously optimize investment in the resource stock (the fish) and investment in the capital stock (the fleet). Each of these investment problems faces a major complication; investment in the resource is constrained by the natural population dynamics, while investment in the physical capital stock tends to be irreversible because capital used in natural resource industries is often nonmalleable. The model assumes a seasonal fishery in which annual escapement and capital investment levels can be controlled. A dynamic programming approach is used to analyze the model heuristically and numerically. The comparative dynamics of optimal investment strategies are studied, with regard to (i) delays in investment, (ii) population dynamics parameters, (iii) fish price, (iv) capital cost, (v) depreciation rate, and (vi) discount rate. In particular, the depreciation rate and the ratio of unit capital costs to unit operating costs play interesting and complex roles in determining optimal investment levels.

Sign in / Sign up

Export Citation Format

Share Document