EPGEO-ARPEL Latin America Project: Technical Guides on Monitoring and Geohazard Control Works in Pipelines

2021 ◽  
Author(s):  
Francisco Oliveros ◽  
Leandro Ivorra ◽  
Jaime Aristizabal
Keyword(s):  
Latin America ◽  
Oil And Gas ◽  
Transportation Systems ◽  
Gas Industry ◽  
Regional Association ◽  
Integrity Management ◽  
The Caribbean ◽  
The Creation ◽  
Technical Solutions ◽  
Oil And Gas Companies

Abstract Since 2004, the Geotechnical Professional Team (EPGEO) from the Regional Association of Oil and Gas Companies in Latin America and the Caribbean (Asociación Regional de Empresas de Petróleo y Gas Natural en Latinoamérica y el Caribe, ARPEL) has been working on a knowledge management-related project for the Oil & Gas industry, consisting in the creation of three technical guides on Pipeline Integrity Management given the occurrence of geohazards in Hydrocarbon Transportation Systems. This initiative comprises the creation of 3 guides related to: i) Guide 1: Monitoring Geohazards for Pipeline Integrity, ii) Guide 2: Geotechnical Mitigation Works in Pipelines, iii) Guide 3: Geotechnical Risk in Pipelines. The EPGEO published Guide 1 in 2016 and made a presentation at the 2017 IPG (IPG2017-2538), while Guide 2 will be completed by 2021. Guide 3 will be created in 2021–2023. This document shows the methodology and contents for preparing the first two guides, focusing on Guide 2, which comprises different alternatives, analyses and technical solutions to the occurrence of geohazards that might affect the integrity of a pipeline transportation system.

Towards Implementing Condition-Based Maintenance (CBM) Policy for Offshore Blowout Preventer (BOP) System

2019 ◽  
Author(s):  
Tobiloba Elusakin ◽  
Mahmood Shafiee ◽  
Tosin Adedipe
Keyword(s):  
Oil And Gas ◽  
Cost Savings ◽  
Oil And Gas Industry ◽  
Condition Based Maintenance ◽  
Gas Industry ◽  
Training Requirements ◽  
Blowout Preventer ◽  
Integrity Management ◽  
Maintenance Personnel ◽  
Oil And Gas Companies

Abstract With the steadily growing demand for energy in the world, oil and gas companies are finding themselves facing increasing capital and operating costs. To ensure the economic viability of investments and improve the safety of operations, oil and gas companies are promoting their asset integrity management (AIM) systems. In the past, the oil and gas industry adopted reactive maintenance regimes, which involved recertification, testing and repair of faulty equipment while trying to achieve minimum downtime. As technology becomes more affordable, operators have been able to carry out improved fault diagnosis, prognosis and maintenance optimisation. As a result of this, condition-based maintenance (CBM) is being adopted more and more as the preeminent maintenance regime for oil and gas equipment. The blowout preventer (BOP) is one of the most expensive and safety critical drilling equipment in the oil and gas industry. However, there have been very few studies and best practices about how to develop a CBM policy and what specific monitoring techniques and devices will be required to implement it for the BOP system. This paper proposes a V-model based architecture for designing a CBM policy in BOP systems. As a result of the model proposed, gaps in implementation are identified and all the hardware, software and training requirements for implementing the CBM solution in BOP systems will be outlined in detail. Our proposed CBM framework will help BOP operators and maintenance personnel make cost savings through less repairs and replacements and minimal downtime.

ARPEL Guide for the Monitoring of Pipe, Rights of Way and Triggering Agents in the Management of the Integrity of Oil and Gas Pipelines Threatened by Geohazards

2015 ◽  
Author(s):  
Hugo García ◽  
Maria F. Contreras
Keyword(s):  
Latin America ◽  
Oil And Gas ◽  
Appropriate Technology ◽  
Gas Pipelines ◽  
Regional Association ◽  
Oil And Gas Pipelines ◽  
Technical Guide ◽  
The Caribbean ◽  
Oil Gas ◽  
Selection Of

Incidents associated with geohazards involving oil and gas pipelines can be avoided in most cases if there is an adequate program for monitoring pipelines, rights of way and triggering agents aimed at prevention. Knowledge about how to manage geohazards is currently dispersed in the operators’ experiences, and it is necessary to compile a guide that will facilitate the selection of the appropriate technology for monitoring pipelines, rights of way and triggering agents. This document explains the development of a project of the Regional Association of Oil, Gas and Biofuels Sector Companies in Latin America and the Caribbean – ARPEL, the deliverable of which will be a practical technical guide for companies operating in Latin America and the Caribbean for which geohazards represent one of the greatest risks to the integrity of oil and gas pipelines.

ARPEL/EPGEO: Regional Geotechnics Project — Good Practices in Pipeline Integrity Management to Face Geohazards

2017 ◽  
Author(s):  
Jaime Hernán Aristizábal Ceballos ◽  
Hugo Alberto García García
Keyword(s):  
Latin America ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Technical Requirement ◽  
Mountain Range ◽  
Central System ◽  
Gas Industry ◽  
Integrity Management ◽  
Tropical Areas ◽  
New Guidelines

Due to the importance for the Oil and Gas Industry to have a technical document that consolidates the knowledge on management of geohazards for Latin America, the Geotechnics Project Team (EPGEO under its acronym in Spanish) of the Regional Association of Oil, Gas and Biofuels Sector Companies in Latin America and the Caribbean (ARPEL) developed the “Guidelines for Monitoring and Inspection of Pipeline Integrity Management to Face Geohazards” between 2014 and 2016. These guidelines contain the experience of the different operators in the region, given the highly-complex geological-geotechnical pipeline routes (due to the mountain range of the Andes in South America or the Central System in Central America), as well as the high technical requirement derived from the dynamics of the triggering agents in equatorial and tropical areas. In this respect, this document presents the main results of such consolidation and its dissemination, some relevant aspects to be taken into account in interdisciplinary works with reference to third parties, as well as the new guidelines that the EPGEO has proposed to develop that complement the management of geohazards in a Pipeline Transportation System (PTS).

EBITDA and DACF multipliers as an indicator of investment attractiveness of domestic vertically integrated companies

2021 ◽  
Vol 20 (4) ◽  
pp. 718-752
Author(s):  
Oleg V. SHIMKO
Keyword(s):  
Oil And Gas ◽  
Stock Exchange ◽  
Oil And Gas Industry ◽  
Financial Economic ◽  
Consolidated Financial Statements ◽  
Gas Industry ◽  
Debt Burden ◽  
Fixed Assets ◽  
Settlement Agreements ◽  
Oil And Gas Companies

Subject. The article addresses the EV/EBITDA and EV/DACF ratios of the twenty five largest public oil and gas corporations from 2008 to 2018. Objectives. The purpose is to identify key trends in the value of EV/EBITDA and EV/DACF ratios of biggest public oil and gas corporations, determine factors resulted in the changes over the studied period, and establish the applicability of these multipliers for assessing the business value within the industry. Methods. I apply methods of comparative and financial-economic analysis, and generalization of consolidated financial statements data. Results. The study revealed that EV/EBITDA and EV/DACF multiples are acceptable for valuing oil and gas companies. The EV level depends on profitability, proved reserves, and a country factor. It is required to adjust EBITDA for information on impairment, revaluation and write-off for assets that are reported separately from depreciation, depletion and amortization costs, as well as for income or expenses arising after the sale of fixed assets and as a result of effective court decisions or settlement agreements. It is advisable to adjust DACF for income, expenses and changes in assets and liabilities, which are caused by events that are unusual for oil and gas companies. Conclusions. The application of EV/EBITDA and EV/DACF multiples requires a detailed analysis and, if necessary, adjustments of their constituent components. However, they are quite relevant in the context of declining profitability and growing debt burden in the stock exchange sector of the global oil and gas industry.

Subsea Cable Stability on Rocky Seabeds: Comparison of Field Observations Against Conventional and Novel Design Methods

2018 ◽  
Author(s):  
Terry Griffiths ◽  
Scott Draper ◽  
Liang Cheng ◽  
Feifei Tong ◽  
Antonino Fogliani ◽  
...  
Keyword(s):  
Oil And Gas ◽  
Power Transmission ◽  
Small Diameter ◽  
Oil And Gas Industry ◽  
Operational Reliability ◽  
Design Methods ◽  
Gas Industry ◽  
Integrity Management ◽  
Tidal Stream ◽  
Almost All

As offshore renewable energy projects progress from concept demonstration to commercial-scale developments there is a need for improved approaches beyond conventional cable engineering design methods that have evolved from larger diameter pipelines for the oil and gas industry. New approaches are needed to capture the relevant physics for small diameter cables on rocky seabeds to reduce the costs and risks of power transmission and increase operational reliability. This paper reports on subsea cables that MeyGen installed for Phase 1a of the Pentland Firth Inner Sound tidal stream energy project. These cables are located on rocky seabeds in an area where severe metocean conditions occur. ROV field observation of these cables shows them to be stable on the seabed with little or no movement occurring over almost all of the cable routes, despite conventional engineering methods predicting significant dynamic movement. We cite recent research undertaken by the University of Western Australia (UWA) to more accurately assess the hydrodynamic forces and geotechnical interaction of cables on rocky seabeds. We quantify the conformity between the cables and the undulating rocky seabed, and the distributions of cable-seabed contact and spanning via simulations of the centimetric-scale seabed bathymetry. This analysis leads to calculated profiles of lift, drag and seabed friction along the cable, which show that all of these load and reaction components are modelled in an over-conservative way by conventional pipeline engineering techniques. Overall, our analysis highlights that current cable stability design can be unnecessarily conservative on rocky seabeds. Our work foreshadows a new design approach that offers more efficient cable design to reduce project capex and enhance through-life integrity management.

Introduction to this special section: Latin America

2021 ◽  
Vol 40 (12) ◽  
pp. 874-874
Author(s):  
Antonio J. Velásquez ◽  
Wagner Moreira Lupinacci ◽  
Carlos Eduardo Molinares
Keyword(s):  
Latin America ◽  
Gulf Of Mexico ◽  
Significant Role ◽  
Oil And Gas ◽  
Special Section ◽  
Energy Transition ◽  
Development Projects ◽  
Oil And Gas Exploration ◽  
Technology Applications ◽  
The Caribbean

Recent oil and gas exploration and development projects in Latin America, particularly in offshore basins, have increased the hydrocarbon resources of the region considerably. Geophysical technologies have played a significant role in the growth observed across the region, and those technologies will be crucial in the development of smart energy transition alternatives. That is what inspired this special section, which showcases a variety of technology applications, project scopes, scales, depths of investigation, and techniques, representing the diverse solutions required to tackle subsurface challenges in three major growth geographies: the Brazilian presalt, the Caribbean offshore, and the Gulf of Mexico.

Assessment of Conflict Management in Niger Delta and Implications for Sustainable Development of Oil and Gas in Nigeria

2021 ◽  
Author(s):  
Humphrey Otombosoba Oruwari
Keyword(s):  
Conflict Management ◽  
Niger Delta ◽  
Oil And Gas ◽  
Ecological Factors ◽  
Oil And Gas Industry ◽  
Negative Effects ◽  
Gas Industry ◽  
Secondary Sources ◽  
Positive Elements ◽  
Oil And Gas Companies

Abstract Nigerian oil and gas industry have over the years witnessed incessant conflicts between the stakeholders, particularly the host communities in Niger Delta region and the oil and gas companies in partnership with the Federal Government. Conflict which is here defined as manifestation of disagreement between individual and groups arising from differing and mutually incompatible interests has both positive and negative effects depending on how it was managed. Managing conflicts is all about limiting the negative aspects. The study examined conflicts management in Nigeria oil and gas industry and how best the positive elements of conflicts can be maximally exploited for the mutual benefit of both oil and gas company and the host communities in Niger Delta. The study adopted the multidisciplinary approach, literature review, case study and relied on secondary sources using analytical method of data analysis. The study findings revealed that the major factors that precipitate conflicts between the oil and gas industry and host communities in Niger Delta include economic, social, political, and ecological factors. There are available strategies that can be used in conflict management. These include avoiding, accommodating, or smoothing, competing, or forcing, compromising, and collaborating. Any of these strategies can be used to manage conflict depending on the situation, the environment factor, and the nature of the conflict. The problem is that the oil and gas companies in partnership with the Nigerian government often adopted the wrong approach in dealing with the conflict with host communities, using avoiding or forcing strategies. The study recommends collaboration strategy which ensues long term-term solution to mutual benefits.

Applying asset-and equity-based multipliers in the valuation of oil and gas corporations

2021 ◽  
Vol 27 (1) ◽  
pp. 129-167
Author(s):  
Oleg V. SHIMKO
Keyword(s):  
Oil And Gas ◽  
Stock Exchange ◽  
Balance Sheet ◽  
Oil And Gas Industry ◽  
Comparative Approach ◽  
Consolidated Financial Statements ◽  
Gas Industry ◽  
Market Capitalization ◽  
Economic Analyses ◽  
Oil And Gas Companies

Subject. This article explores the ratios of the company's market capitalization and value to the balance sheet value of assets and equity of the twenty five leading public oil and gas companies between 2008 and 2018. Objectives. The article aims to identify key trends in the changes in market capitalization and value ratios of the company to the balance sheet value of assets and equity of the largest public oil and gas companies, identify the factors that have caused these changes, and establish the applicability of these multipliers to estimate the value of the business within the oil and gas industry. Methods. For the study, I used comparative, and financial and economic analyses, and generalization of materials of the companies' consolidated financial statements. Results. The article establishes that the multipliers studied are acceptable for assessing the value of oil and gas companies, but it is preferable to use asset-based ratios. Conclusions and Relevance. The overall decline in profitability and the increase in debt load in the stock exchange sector of the global oil and gas industry should be taken into account when using multipliers based on assets and shareholder capital in the assessment of the value of oil and gas corporations through a comparative approach. The results of the study can be used to assess the possible value of oil and gas assets as part of a comparative approach and develop measures to increase the market capitalization of public oil and gas companies.

Determinants of Corporate Social Responsibility Disclosure in Latin American Companies

2017 ◽  
pp. 165-184 ◽  
Author(s):  
Arturo Haro-de-Rosario ◽  
María del Mar Gálvez-Rodríguez ◽  
María del Carmen Caba-Pérez
Keyword(s):  
Latin America ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Voluntary Disclosure ◽  
Global Economy ◽  
Oil And Gas ◽  
Major Influence ◽  
Oil Reserves ◽  
Corporate Social ◽  
Oil And Gas Companies

The oil and gas sector exerts a major influence on the global economy. However, its negative impact on the environment and society has provoked increasing concerns about its activities and consumption of natural resources. Therefore, and in view of the fact that Latin America has the world's largest conventional oil reserves, the aim of this paper is to analyse the voluntary disclosure of information on the corporate social responsibility (CSR) of oil and gas companies operating in Latin America, and to study the factors that may influence the provision of this information. The results obtained show that although companies in this sector are becoming more aware of the impact of their activity, greater efforts need to be made with respect to CSR. We find that the largest, most profitable oil and gas companies tend to publish the most complete CSR reports.

The Impact of News on the MICEX Oil & Gas Index: Textual Analysis

2018 ◽  
Vol 2018 (4) ◽  
pp. 79-99
Author(s):  
Elena Fedorova ◽  
Oleg Rogov ◽  
Valery Klyuchnikov
Keyword(s):  
Oil And Gas ◽  
Pearson Correlation ◽  
Oil And Gas Industry ◽  
Stock Index ◽  
Gas Industry ◽  
Negative News ◽  
The Russian Federation ◽  
Oil And Gas Companies ◽  
The Impact ◽  
Oil Gas

In this study, a relationship between the mood of news and the response of the oil and gas industry index of the Russian Federation was revealed. The empirical base of the study included 8.5 million news from foreign sources. Research methodology: fuzzy sets, naive Bayesian classifier, Pearson correlation coefficient. As a result of the research, it was discovered that: 1) negative news affects the stronger than the positive on the stock index; 2) news on companies affect the value of the index, and news on the industry affect the volume of trading; 3) the sanctions did not significantly affect the coverage of Russian oil and gas companies.

Sign in / Sign up

Export Citation Format

Share Document