Quantifying the Impact of Water and Gas on Oil Production

2018 ◽  
Author(s):  
Amba Ndoma Egba ◽  
Joseph A. Ajienka ◽  
Omowumi O. Iledare
Keyword(s):  
Oil Production ◽  
The Impact

Waterflooding in Carbonate Reservoirs: Does the Salinity Matter?

2014 ◽  
Vol 17 (03) ◽  
pp. 304-313 ◽  
Author(s):  
A.M.. M. Shehata ◽  
M.B.. B. Alotaibi ◽  
H.A.. A. Nasr-El-Din
Keyword(s):  
Oil Recovery ◽  
Sudden Change ◽  
Oil Production ◽  
Deionized Water ◽  
Production Performance ◽  
Shallow Aquifer ◽  
Secondary Recovery ◽  
Tertiary Recovery ◽  
The Impact ◽  
Indiana Limestone

Summary Waterflooding has been used for decades as a secondary oil-recovery mode to support oil-reservoir pressure and to drive oil into producing wells. Recently, the tuning of the salinity of the injected water in sandstone reservoirs was used to enhance oil recovery at different injection modes. Several possible low-salinity-waterflooding mechanisms in sandstone formations were studied. Also, modified seawater was tested in chalk reservoirs as a tertiary recovery mode and consequently reduced the residual oil saturation (ROS). In carbonate formations, the effect of the ionic strength of the injected brine on oil recovery has remained questionable. In this paper, coreflood studies were conducted on Indiana limestone rock samples at 195°F. The main objective of this study was to investigate the impact of the salinity of the injected brine on the oil recovery during secondary and tertiary recovery modes. Various brines were tested including deionized water, shallow-aquifer water, seawater, and as diluted seawater. Also, ions (Na+, Ca2+, Mg2+, and SO42−) were particularly excluded from seawater to determine their individual impact on fluid/rock interactions and hence on oil recovery. Oil recovery, pressure drop across the core, and core-effluent samples were analyzed for each coreflood experiment. The oil recovery using seawater, as in the secondary recovery mode, was, on the average, 50% of original oil in place (OOIP). A sudden change in the salinity of the injected brine from seawater in the secondary recovery mode to deionized water in the tertiary mode or vice versa had a significant effect on the oil-production performance. A solution of 20% diluted seawater did not reduce the ROS in the tertiary recovery mode after the injection of seawater as a secondary recovery mode for the Indiana limestone reservoir. On the other hand, 50% diluted seawater showed a slight change in the oil production after the injection of seawater and deionized water slugs. The Ca2+, Mg2+, and SO42− ions play a key role in oil mobilization in limestone rocks. Changing the ion composition of the injected brine between the different slugs of secondary and tertiary recovery modes showed a measurable increase in the oil production.

Oil price uncertainty and equity returns

2016 ◽  
Vol 8 (1) ◽  
pp. 64-79 ◽  
Author(s):  
Aktham Maghyereh ◽  
Basel Awartani
Keyword(s):  
Stock Returns ◽  
Oil Production ◽  
Equity Returns ◽  
Oil Price ◽  
Policy Implications ◽  
Price Uncertainty ◽  
Mena Region ◽  
Stock Market Returns ◽  
Content Type ◽  
The Impact

Purpose This paper aims to examine the impact of oil price uncertainty on the stock market returns of ten oil importing and exporting countries in the Middle East and North Africa (MENA) region. The sample contains both oil importing and oil exporting countries that depend heavily on oil production and exports. Design/methodology/approach This paper intuitively applies the generalized autoregressive conditional heteroskedasticity (GARCH)-in-mean vector autoregression (VAR) model using weekly data over the period January 2001-February 2014. Findings The findings indicate that oil uncertainty matters in the determination of real stock returns. There is a negative and significant relationship between oil price uncertainty and real stock returns in all countries in the sample. The influence of oil price risk is more serious in those economies that depend heavily on oil revenues to grow. Practical implications The findings have important implications. For instance, managers should be aware of the linkages between oil price uncertainty and equity returns when they use oil to hedge and diversify equities, particularly in economies where oil is important for economic growth. The policymakers in oil importing countries should encourage companies to improve efficiency in the usage of energy and to resort to alternative sources to avoid fluctuations in earnings and equity prices. In the countries that heavily depend on oil efforts should focus on diversifying the domestic economy away from oil to protect against oil price fluctuations. Originality/value To the best of our knowledge, this is the first attempt to study the influence of oil price uncertainty in the MENA region. The sample contains both oil importing and oil exporting countries that depend heavily on oil production and exports. The empirical findings of the paper have valuable policy implications for investors, market participants and policymakers.

OPEC quotas may have small impact

2016 ◽  
Keyword(s):  
Saudi Arabia ◽  
Oil Production ◽  
Change Strategy ◽  
Content Type ◽  
Small Impact ◽  
Future Action ◽  
The Us ◽  
Policy Direction ◽  
The Impact

Significance OPEC's decision to try to agree new quotas for its members, albeit with key exemptions, suggests a fragile consensus is growing around a change in policy direction towards cooperation. Impacts Perceptions will strengthen that Saudi Arabia is prepared to change strategy. A framework and platform for future action should allow OPEC to reassert its cartel position. Agreement on quotas is unlikely to reduce export volumes much, limiting the impact on prices. The prospect of a deal will see further additions to the US rig count, with implications for US oil production in 2017. If prices rise, encouraging more investment, and Libyan and Nigerian output recovers, OPEC output could rise even if quotas are imposed.

Azerbaijan looks to gas as oil's importance wanes

2017 ◽  
Keyword(s):  
Oil Production ◽  
Strong Ties ◽  
Social Unrest ◽  
Content Type ◽  
The Government ◽  
Russian Military ◽  
The Impact

Subject Impact of oil output cuts on Azerbaijan. Significance Azerbaijan has agreed to cut oil production in the first half of 2017 in support of the agreement reached by OPEC and non-OPEC states. It can ill afford a further loss of revenues, but the bigger picture is that oil production is already on a downward curve. Impacts To avoid social unrest, the government will need to allocate spending to mitigate the impact of rising prices. Fiscal pressures may rein in lavish spending on Russian military hardware. The government will maintain strong ties with Turkey as an export route and security ally.

Local truces could increase Libya's oil production

2015 ◽  
Keyword(s):  
Oil Production ◽  
Emergency Relief ◽  
Content Type ◽  
Oil Resources ◽  
The Impact ◽  
Improve Access

Subject The impact of the rising number of local truces. Significance Elders from the towns of Zintan, Zawiya and Rujban on July 14 agreed never to attack each other again. A series of local truces in western Libya in recent months has brought about a cessation of hostilities in several regions. This process has been taking place in parallel to the UN-brokered negotiations to end the divide between Libya's two governments, which resulted in a political agreement on July 11. Impacts Local truces will improve access to emergency relief for medical, fuel and food supplies in several communities. If local agreements continue to hold and inspire others, the UN-brokered national political deal will be bolstered. Reopening pipelines to El Feel and El Sharara oilfields and increasing oil production may intensify the battle for oil resources.

scholarly journals Reduction of Crude Oil Production Cost in Nigerian Indigenous Company using Activity Based Costing

2019 ◽  
Vol 4 (1) ◽  
pp. 49-53 ◽  
Author(s):  
Segun Adebisi Osetoba ◽  
Nkoi Barinyima ◽  
Rex Amadi
Keyword(s):  
Crude Oil ◽  
Cost Reduction ◽  
Production Cost ◽  
Value Added ◽  
Oil Production ◽  
Activity Based Costing ◽  
Service Company ◽  
Crude Oil Production ◽  
The Cost ◽  
The Impact

The aim of this study is to investigate the impact of activity based costing in reducing crude oil production cost in Nigerian indigenous oil and gas company. This research work identified strategies to effectively reduce the cost of crude oil production by adopting a cost reduction tool for crude oil production and to establish a good crude oil flow to the surface for production. Activity based costing was the cost reduction tool used for this work. The tool helps to differentiate between value added costing and non-value added costing. Non-value added costs must be reduced or eliminated during production so as to maximise profit. Data was collected from an indigenous oil service company. The collated data were tabulated and graphs were plotted with the aid of Microsoft excel. The analysis revealed a total sum of ₦ 416,978,977 was wrongly spent for a duration of three years on crude oil production due to non-value added costing. The activities are: poor transportation of crude oil, that is, use of mobile tanker for haulage instead of laying 4 inches coated pipes for a distance of 5km and contracting the treatment of produced water to a contractor instead of setting up a water treatment plant. Also, using a diesel engine generator for electric power supply while gas was available as a fuel gas for natural gas consuming generator was a non-value added activity. Lastly, inadequate oil well flowing practice by flowing the well through an adjustable choke for a long period of time instead of using a fixed choke. This is a huge loss for indigenous oil producing fields operated by an indigenous oil service company in Nigeria. The loss was due to inability of the producers/field location owners to set up few equipment to meet up with complete operation standard.

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