The Cost and Sustainability Benefits with Integrated Process and Power Automation Architectures in Electro-Intensive Oil and Gas Plants

2016 ◽  
Author(s):  
Christopher J. Smith
Keyword(s):  
Oil And Gas ◽  
Integrated Process ◽  
The Cost ◽  
Gas Plants

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.

Agile framework for capital projects

2021 ◽  
Vol 61 (2) ◽  
pp. 422
Author(s):  
Polly Mahapatra ◽  
Paris Shahriari
Keyword(s):  
Oil And Gas ◽  
Hybrid Approach ◽  
Oil And Gas Industry ◽  
Quick Response ◽  
Capital Projects ◽  
Gas Industry ◽  
Response To Change ◽  
The Cost ◽  
Early Phases ◽  
The Ideal

Under the increased pressure of rapidly changing market conditions and disrupting technologies, continuous improvements in efficiency become indispensable for all oil and gas operators. Traditional project management principles in the oil and gas industry employ rigid methods of planning and execution that can sometimes hinder adaptability and a quick response to change. Considering the potential that Agile principles can offer as a solution, the challenge, therefore, is to identify the ideal, hybrid, approach that leverages Agile while incorporating the traditional linear workflow necessitated by the oil and gas industry. This paper seeks to assess pre-existing literature in the application of the Agile principles in the oil and gas industry with a focus on Major Capital Projects (MCPs), backed by the successes experienced as a result of specific pilot projects completed at Chevron’s Australian Business Unit. In particular, this paper will focus on how agility has resulted in improvements to the cost, schedule, teaming and cohesion of MCPs in the early phases as well as key learnings form the pilot agility projects.

A Framework to Support the Optimization of Modularized Oil and Gas Structures

2018 ◽  
Author(s):  
Vincenzo Castorani ◽  
Paolo Cicconi ◽  
Michele Germani ◽  
Sergio Bondi ◽  
Maria Grazia Marronaro ◽  
...  
Keyword(s):  
Lead Time ◽  
Oil And Gas ◽  
Steel Structure ◽  
Steel Structures ◽  
Modular System ◽  
Test Case ◽  
Plant Design ◽  
Conceptual Study ◽  
A Current ◽  
Gas Plants

Modularization is a current issue in the context of plant design. A modular system aims to reduce lead time and cost in design phases. An oil & gas plant consists of many Engineered-To-Order solutions to be submitted and approved during the negotiation phase. In this context, design tools and methods are necessary to support the design life cycle from the conceptual study to the detailed project. The paper proposes an approach to optimize the design of modularized oil & gas plants with a focus on the related steel structures. A test case shows the configuration workflow applied to a modular steel structure of about 400 tons. The modularized layout has been optimized using genetic algorithms. A Knowledge Base has been described to support the configuration phase related to the conceptual design. Design rules and metrics have been formalized from the analysis of past solutions.

scholarly journals Investing in community: community land trusts and affordable housing in Calgary

2021 ◽  
Author(s):  
Leah Dow
Keyword(s):  
Affordable Housing ◽  
Oil And Gas ◽  
The United States ◽  
Trust Model ◽  
Small Scale ◽  
Land Trusts ◽  
Land Trust ◽  
Viable Solution ◽  
Community Land Trust ◽  
The Cost

The cost of affordable rental units in Calgary is amongst the highest in Canada, despite a rental vacancy rate that is 3 percent higher than the national average (Canada Mortgage and Housing Corporation, 2017). Nearly 1 in 5 Calgary households are struggling to pay for shelter costs and as of 2016, more than 42,000 households were spending more than 50 percent of their incomes on shelter, putting this population at a greater risk of becoming homeless due to job loss or from some other unexpected financial hardship (City of Calgary, 2017). Counter to popular belief, economically depressed communities with weak rental and housing markets such as Calgary following the 2015 collapse of the oil and gas sector can be subject to a critical lack of affordable housing. A soft housing market cannot make up for an insufficient range of affordable and non-market housing options. In other cities facing similar challenges, especially those in the United States, the formation of Community Land Trusts has proven to be a viable solution for providing both affordable rental and affordable ownership opportunities for residents who are struggling to afford the cost of housing in their area. This paper explores whether the Community Land Trust model is an appropriate tool to augment Calgary’s limited supply of affordable housing and will end with five recommendations to encourage the adoption of the Community Land Trust model in Calgary. Key Words: affordable housing, affordable ownership, Calgary, community land trust, small-scale affordable development.

scholarly journals Investing in community: community land trusts and affordable housing in Calgary

2021 ◽  
Author(s):  
Leah Dow
Keyword(s):  
Affordable Housing ◽  
Oil And Gas ◽  
The United States ◽  
Trust Model ◽  
Small Scale ◽  
Land Trusts ◽  
Land Trust ◽  
Viable Solution ◽  
Community Land Trust ◽  
The Cost

The cost of affordable rental units in Calgary is amongst the highest in Canada, despite a rental vacancy rate that is 3 percent higher than the national average (Canada Mortgage and Housing Corporation, 2017). Nearly 1 in 5 Calgary households are struggling to pay for shelter costs and as of 2016, more than 42,000 households were spending more than 50 percent of their incomes on shelter, putting this population at a greater risk of becoming homeless due to job loss or from some other unexpected financial hardship (City of Calgary, 2017). Counter to popular belief, economically depressed communities with weak rental and housing markets such as Calgary following the 2015 collapse of the oil and gas sector can be subject to a critical lack of affordable housing. A soft housing market cannot make up for an insufficient range of affordable and non-market housing options. In other cities facing similar challenges, especially those in the United States, the formation of Community Land Trusts has proven to be a viable solution for providing both affordable rental and affordable ownership opportunities for residents who are struggling to afford the cost of housing in their area. This paper explores whether the Community Land Trust model is an appropriate tool to augment Calgary’s limited supply of affordable housing and will end with five recommendations to encourage the adoption of the Community Land Trust model in Calgary. Key Words: affordable housing, affordable ownership, Calgary, community land trust, small-scale affordable development.

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