The Impact of the Proposed Petroleum Industry Fiscal Bill PIFB, 2018 Tax Scheme on the Economics of Oil Production in Nigeria

2019 ◽  
Author(s):  
Bariture Nyoor ◽  
Adeogun Oyebimpe ◽  
Omowumi O. Iledare
Keyword(s):  
Petroleum Industry ◽  
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.

scholarly journals Integrated Halo Model And Hydrodynamic Simulation For Optimization Oil Production In Crystalline Fractured Reservoirs

2021 ◽  
Author(s):  
Hung Vo Thanh ◽  
Kang-Kun Lee
Keyword(s):  
Oil Recovery ◽  
History Matching ◽  
Fractured Reservoirs ◽  
Petroleum Industry ◽  
Oil Production ◽  
Modelling And Simulation ◽  
Development Plan ◽  
Sweep Efficiency ◽  
Field Development ◽  
The World

Abstract Basement formation is known as the unique reservoir in the world. The fractured basement reservoir was contributed a large amount of oil and gas for Vietnam petroleum industry. However, the geological modelling and optimization of oil production is still a challenge for fractured basement reservoirs. Thus, this study aims to introduce the efficient workflow construction reservoir models for proposing the field development plan in a fractured crystalline reservoir. First, the Halo method was adapted for building the petrophysical model. Then, Drill stem history matching is conducted for adjusting the simulation results and pressure measurement. Next, the history-matched models are used to conduct the simulation scenarios to predict future reservoir performance. The possible potential design has four producers and three injectors in the fracture reservoir system. The field prediction results indicate that this scenario increases approximately 8 % oil recovery factor compared to the natural depletion production. This finding suggests that a suitable field development plan is necessary to improve sweep efficiency in the fractured oil formation. The critical contribution of this research is the proposed modelling and simulation with less data for the field development plan in fractured crystalline reservoir. This research's modelling and simulation findings provide a new solution for optimizing oil production that can be applied in Vietnam and other reservoirs in the world.

scholarly journals The Impact of Leverage on Earnings Per Share: A Study of Selected Petroleum Companies in India

2020 ◽  
Vol 1 (2) ◽  
pp. 25-36
Author(s):  
Ahmed Mahdi Abdukareem ◽  
Priyanka Dineshgiri Meghanathi
Keyword(s):  
Petroleum Industry ◽  
Earnings Per Share ◽  
Petroleum Companies ◽  
The Impact ◽  
Non Parametric

The main purpose of this article is to study the impact of leverage on earning per share of selected petroleum companies in India.  The article also aims to examine the correlation between three types of leverage with earning per share and to know more about the leverage and petroleum industry in India. The most appropriate Parametric and Non parametric tests are employed and the analysis of data is presented through different graphs and tables. This article comes across to draw a comparison between the degree of combined leverage and earnings per share of selected petroleum companies during the study period.

Towards Achieving Indonesia's Oil Production Target of 1 MMBOPD by 2030: An Outlook from IATMI Norway

2021 ◽  
Author(s):  
Eko Awan Yudha Fitnawan ◽  
Wibi Aulia Harsum ◽  
Agus Hasan ◽  
Muhammad Iffan Hannanu ◽  
Steven Leonardus Paulus ◽  
...  
Keyword(s):  
Oil Recovery ◽  
Common Ground ◽  
Near Field ◽  
Petroleum Industry ◽  
Critical Factor ◽  
Oil Production ◽  
Professional Associations ◽  
Improved Oil Recovery ◽  
Future Production ◽  
Production Target

Abstract Indonesia has become a net-oil importer since 2004 as the growing internal demand exceeds Indonesia's oil production. As many fields go into mature phase and combined with other challenges, the national oil production in the last decade has been decreasing from 945 MBOPD to 745 MBOPD with a decline rate of 3-5% per year. Thus, the contribution of the oil and gas sector to the state revenues has also shown a downward trend from 21% in 2010 to only 9.2% in 2019. However,oil production is still strategically importantfor the national economy. It is important for economic value creation, power generation, transportation, and industries as most of the archipelago's infrastructures are still based on fossil energy. If no effort is made to increase production, the country will be fullydependent on crude oil imports, which poses a threat to national energy security. It is thereforeinthe nation's great interest to enhance oil production, minimizing the deficit gapbetween export and import. Several key strategies may be considered to achieve this ambitious target. These strategies can be categorized into the following: 1) People and high performing organization; 2) Exploration, as critical factor for future production; 3) Improved oil recovery (including enhancedoil recovery) technologies, to grow production from the maturing fields; 4) Fast track and simplified project to develop small field discoveries; 5) Strong collaboration between government, industry, academia, and professional associations; and 6)Cost conscious culture. The derivatives of the above-mentioned strategies are among others: standardized resource data management, open source & digitalized geoscience data library, reimbursement system for exploration costs, near field/infrastructure exploration,new play concept, cluster license collaboration, infill wells campaign, multilateral wells, waterflooding, gas injection, stimulation and hydraulic fracturing campaign, well interventions, EOR screening, perfect-well optimization, standardize subsea and/or topside production system, digitalization, and attractive fiscal and regulation that encourages not only the ‘big operator’ to participate in the petroleum sector. The foundation of these strategies should be the legal certainty and effective & proactive bureaucracy. Above all, it is also important to emphasize the common ground of havingearly HSE involvement as part of the solution. In this paper, the authors would like to contribute in sharing the knowledge, technology and perspectives to all petroleum industry professionals in Indonesia based on the authors exposure in the Norwegian petroleum activities. The paper will also review the strategies, short term and long-term opportunities that may inspire Indonesian petroleum authorities and industry in transforming the ambition into action to achieve the national production target of 1 MMBOPD and 12 BCFD gas by 2030.

General Approach to Risk Analysis

2014 ◽  
pp. 1-22
Author(s):  
Davorin Matanovic
Keyword(s):  
Risk Management ◽  
Risk Analysis ◽  
Qualitative Methods ◽  
Iterative Process ◽  
Quantitative Methods ◽  
Hybrid Methods ◽  
Petroleum Industry ◽  
Acceptance Criteria ◽  
Risk Acceptance ◽  
The Impact

Broadly accepted methodology that is implemented in the oil industry when dealing with risks includes as the first step the identification of possible hazards. That is done by gathering information about degree of risk according to working procedures, processes, and individuals involved in the operation of the process. That is the first step in risk management, an iterative process that must lead to the use of proper measurements in the way of protecting people, facilities and environment. The analysis is done based on the combination of probability and severity of undesirable events, and the final consequences. Explanation of basic terms, their interdependence, dilemmas, and methods of risk analysis are introduced. Each method is shortly described with main anteriority and shortcomings. Differences between quantitative methods, qualitative methods, and hybrid methods (the combination of qualitative-quantitative or semi-quantitative methods) are elaborated. The impact, occurrence, and the consequences are at the end compared to risk acceptance criteria concept. The ALARP (As Low as Reasonably Practicable) framework is explained with some observation on the quality and acceptance in petroleum industry. Finally, the human impact on the risk and consequences is analyzed.

General Approach to Risk Analysis

2015 ◽  
pp. 1217-1236
Author(s):  
Davorin Matanovic
Keyword(s):  
Risk Management ◽  
Risk Analysis ◽  
Qualitative Methods ◽  
Iterative Process ◽  
Quantitative Methods ◽  
Hybrid Methods ◽  
Petroleum Industry ◽  
Acceptance Criteria ◽  
Risk Acceptance ◽  
The Impact

Broadly accepted methodology that is implemented in the oil industry when dealing with risks includes as the first step the identification of possible hazards. That is done by gathering information about degree of risk according to working procedures, processes, and individuals involved in the operation of the process. That is the first step in risk management, an iterative process that must lead to the use of proper measurements in the way of protecting people, facilities and environment. The analysis is done based on the combination of probability and severity of undesirable events, and the final consequences. Explanation of basic terms, their interdependence, dilemmas, and methods of risk analysis are introduced. Each method is shortly described with main anteriority and shortcomings. Differences between quantitative methods, qualitative methods, and hybrid methods (the combination of qualitative-quantitative or semi-quantitative methods) are elaborated. The impact, occurrence, and the consequences are at the end compared to risk acceptance criteria concept. The ALARP (As Low as Reasonably Practicable) framework is explained with some observation on the quality and acceptance in petroleum industry. Finally, the human impact on the risk and consequences is analyzed.

Greenhouse Gas Emissions from the Petroleum Industry

2017 ◽  
pp. 213-241
Author(s):  
Lidia Hrnčević
Keyword(s):  
Greenhouse Gas ◽  
Global Climate ◽  
Petroleum Industry ◽  
Ghg Emissions ◽  
High Energy ◽  
Global Market ◽  
Special Focus ◽  
Global Industry ◽  
High Emission ◽  
The Impact

Greenhouse Gas (GHG) emissions occur, more or less, in all aspects of the petroleum industry's activities. Besides the direct emissions of some GHG, the petroleum industry is also characterised with high energy intensity usually followed by emissions of adverse gases, especially at old facilities, and also the products with high emission potential. Being the global industry and one of the major players on global market, the petroleum industry is also subjected to global regulatory provisions regarding GHG emissions. In this chapter, the impact of global climate change on the petroleum industry is discussed. The emissions from the petroleum industry are analysed with a special focus on greenhouse gases that occur in petroleum industry activities and types and sources of emissions from the petroleum industry activities. In addition, recommendations for estimation, monitoring, and reductions of GHG emissions from the petroleum industry are given.

scholarly journals Effects of salinity on the treatment of synthetic petroleum-industry wastewater in pilot vertical flow constructed wetlands under simulated hot arid climatic conditions

2020 ◽  
Vol 28 (2) ◽  
pp. 2172-2181
Author(s):  
Thomas V. Wagner ◽  
Fatma Al-Manji ◽  
Jie Xue ◽  
Koen Wetser ◽  
Vinnie de Wilde ◽  
...  
Keyword(s):  
Benzoic Acid ◽  
Removal Efficiency ◽  
Constructed Wetlands ◽  
Membrane Fouling ◽  
Plant Defence ◽  
Petroleum Industry ◽  
Vertical Flow ◽  
Treated Effluent ◽  
The Impact ◽  
Industry Wastewater

AbstractPetroleum-industry wastewater (PI-WW) is a potential source of water that can be reused in areas suffering from water stress. This water contains various fractions that need to be removed before reuse, such as light hydrocarbons, heavy metals and conditioning chemicals. Constructed wetlands (CWs) can remove these fractions, but the range of PI-WW salinities that can be treated in CWs and the influence of an increasing salinity on the CW removal efficiency for abovementioned fractions is unknown. Therefore, the impact of an increasing salinity on the removal of conditioning chemicals benzotriazole, aromatic hydrocarbon benzoic acid, and heavy metal zinc in lab-scale unplanted and Phragmites australis and Typha latifolia planted vertical-flow CWs was tested in the present study. P. australis was less sensitive than T. latifolia to increasing salinities and survived with a NaCl concentration of 12 g/L. The decay of T. latifolia was accompanied by a decrease in the removal efficiency for benzotriazole and benzoic acid, indicating that living vegetation enhanced the removal of these chemicals. Increased salinities resulted in the leaching of zinc from the planted CWs, probably as a result of active plant defence mechanisms against salt shocks that solubilized zinc. Plant growth also resulted in substantial evapotranspiration, leading to an increased salinity of the CW treated effluent. A too high salinity limits the reuse of the CW treated water. Therefore, CW treatment should be followed by desalination technologies to obtain salinities suitable for reuse. In this technology train, CWs enhance the efficiency of physicochemical desalination technologies by removing organics that induce membrane fouling. Hence, P. australis planted CWs are a suitable option for the treatment of water with a salinity below 12 g/L before further treatment or direct reuse in water scarce areas worldwide, where CWs may also boost the local biodiversity.

scholarly journals Physical Scaling of Oil Production Rates and Ultimate Recovery from All Horizontal Wells in the Bakken Shale

Energies ◽  
2020 ◽  
Vol 13 (8) ◽  
pp. 2052 ◽  
Author(s):  
Wardana Saputra ◽  
Wissem Kirati ◽  
Tadeusz Patzek
Keyword(s):  
Petroleum Industry ◽  
Oil Production ◽  
Horizontal Wells ◽  
Accurate Method ◽  
Oil Wells ◽  
Shale Oil ◽  
Square Root ◽  
Production Rates ◽  
Time Flow ◽  
Bakken Shale

A recent study by the Wall Street Journal reveals that the hydrofractured horizontal wells in shales have been producing less than the industrial forecasts with the empirical hyperbolic decline curve analysis (DCA). As an alternative to DCA, we introduce a simple, fast and accurate method of estimating ultimate recovery in oil shales. We adopt a physics-based scaling approach to analyze oil rates and ultimate recovery from 14,888 active horizontal oil wells in the Bakken shale. To predict the Estimated Ultimate Recovery (EUR), we collapse production records from individual horizontal shale oil wells onto two segments of a master curve: (1) We find that cumulative oil production from 4845 wells is still growing linearly with the square root of time; and (2) 6401 wells are already in exponential decline after approximately seven years on production. In addition, 2363 wells have discontinuous production records, because of refracturing or changes in downhole flowing pressure, and are matched with a linear combination of scaling curves superposed in time. The remaining 1279 new wells with less than 12 months on production have too few production records to allow for robust matches. These wells are scaled with the slopes of other comparable wells in the square-root-of-time flow regime. In the end, we predict that total ultimate recovery from all existing horizontal wells in Bakken will be some 4.5 billion barrels of oil. We also find that wells completed in the Middle Bakken formation, in general, produce more oil than those completed in the Upper Three Forks formation. The newly completed longer wells with larger hydrofractures have higher initial production rates, but they decline faster and have EURs similar to the cheaper old wells. There is little correlation among EUR, lateral length, and the number and size of hydrofractures. Therefore, technology may not help much in boosting production of new wells completed in the poor immature areas along the edges of the Williston Basin. Operators and policymakers may use our findings to optimize the possible futures of the Bakken shale and other plays. More importantly, the petroleum industry may adopt our physics-based method as an alternative to the overly optimistic hyperbolic DCA that yields an ‘illusory picture’ of shale oil resources.

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