Economic Study of Oil and Gas Well Drilling

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Publisher : Independently Published
ISBN 13 : 9781980691334
Total Pages : 248 pages
Book Rating : 4.6/5 (913 download)

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Book Synopsis Economic Study of Oil and Gas Well Drilling by : Roshdy Ebrahim

Download or read book Economic Study of Oil and Gas Well Drilling written by Roshdy Ebrahim and published by Independently Published. This book was released on 2018-03-29 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: A revolutionary invention in 1909 greatly increased the depth of wells that could be drilled. The original drilling technology, adapted from water well drilling, was to drop a heavy "bit" onto the rock. The rock would shatter and be periodically removed by a scoop. This method is slow, inefficient and not feasible below a thousand meters or so. The far more efficient continuous hydraulic rotary drilling system used today was invented by Hughes Tool Co. c. 1900. It consisted of a rotary cutting tool at the bottom end of a pipe, which was rotated as a whole by an engine at the top. A lubricant was pumped down from above, both to cool the drill and to carry the cuttings back to the surface outside the pipe. This enabled the drill to operate continuously, except for pauses to add new sections of pipe at the top. Depth was virtually unlimited. The earliest forms of oil and gas wells were actually pits dug by hand. Numerous examples from 500 BCE to 1800 CE from Europe, the Middle East, India, Southeast Asia, and Japan are described by Owen. Well drilling appears to have originated in China, where a heavy cylindrical weight was used for impact drilling and bamboo was used for well casing. The target was brine for manufacture of salt, which was important for food preservation as well as flavoring and was a highly regulated commodity. Wells were 100 m deep by 600 BC and reached 1000 m deep by 1100 CE. Natural gas was initially a byproduct, although it was often used as a fuel for evaporating brine.Well drilling has gone through major developments of drilling methods to reach the modern method of rotary drilling. In this method, a drilling bit is attached to the bottom end of a string of pipe joints known as the drill¬ing string. The drilling string is rotated at the surface, causing rotation of the drilling bit. The rotation of the bit and the weight applied on it through the drilling string causes the crushing and cutting of the rock into small pieces (cuttings). To remove the cuttings from the hole, a special fluid, called the drilling fluid or the drilling mud, is pumped down through the drilling string, where it exists through nozzles in the bit as jets of fluid. This fluid cleans the bit from the cuttings and carries the cuttings to the surface through the annular space between the drilling string and the wall of the hole. At the surface, the mud is screened to remove the cuttings and is circulated back into the drilling string. The drilling operation is performed using huge and complex equipment known as the drilling rig.

An Economic Overview and Security Analysis of the Oil and Gas Well Drilling and Services Industry

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Author :
Publisher :
ISBN 13 :
Total Pages : 136 pages
Book Rating : 4.:/5 (11 download)

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Book Synopsis An Economic Overview and Security Analysis of the Oil and Gas Well Drilling and Services Industry by : Scott Palmer

Download or read book An Economic Overview and Security Analysis of the Oil and Gas Well Drilling and Services Industry written by Scott Palmer and published by . This book was released on 1983 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Petroleum Economics and Engineering, Third Edition

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Publisher : CRC Press
ISBN 13 : 1466506660
Total Pages : 488 pages
Book Rating : 4.4/5 (665 download)

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Book Synopsis Petroleum Economics and Engineering, Third Edition by : Hussein K. Abdel-Aal

Download or read book Petroleum Economics and Engineering, Third Edition written by Hussein K. Abdel-Aal and published by CRC Press. This book was released on 2013-12-14 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explains how to apply economic analysis to the evaluation of engineering challenges in the petroleum industry. Discussion progresses from an introduction to the industry, through principles and techniques of engineering economics, to the application of economic methods. Packed with real-world examples and case studies demonstrating how to calculate rate of return, discounted cash flow, payout period, and more, Petroleum Economics and Engineering, Third Edition assists petroleum engineers, chemical engineers, production workers, management, and executives in sound economic decision-making regarding the design, manufacture, and operation of oil and gas plants, equipment, and processes. The fully revised third edition is updated to reflect key advancements in petroleum technology and expanded to include chapters on middle stream operations, known as surface petroleum operations (SPO), and natural gas processing and fractionation. By looking globally at the hydrocarbon industry, the improved text offers the reader a more complete picture of the petroleum sector, which includes the global processes of exploration, production, refining, and transportation.

Economic Study of Oil and Gas Exploration

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Publisher : Independently Published
ISBN 13 : 9781980558064
Total Pages : 252 pages
Book Rating : 4.5/5 (58 download)

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Book Synopsis Economic Study of Oil and Gas Exploration by : Roshdy Ebrahim

Download or read book Economic Study of Oil and Gas Exploration written by Roshdy Ebrahim and published by Independently Published. This book was released on 2018-03-14 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the characteristics of oil in its early exploration and production has been the requirement of large capital investments for exploratory activity associated with unexplored fields surrounding new oil reserves, and costly development expenditures that are subsequently needed for extension and expanding of such fields once they were explored. Therefore, the evolution of the oil industry had not been and cannot be treated in a manner of a mom-and-pop enterprise in which capital has yet to turn into a well-developed process of concentration and centralization. On the other hand, in the late nineteenth century, Taylorism was just giving rise to standardization and thus automated assembly line mass production in need of capital on a scale beyond individual wealth. That is why oil was characterized by the assemblage of several financial syndicates for the venture of exploration in both the United States and abroad. And it is the minimum size of capital that in part plays a pivotal role in development of capitalist competition in oil and in other businesses. The genesis of hydrocarbon can be traced to colonial fusion of capitalistically developed and undeveloped parts of the world--a world whose overwhelming majority had not yet lived within capitalism proper.Exploration for petroleum originated in the latter part of the nineteenth century when geologists began to map land features that were favorable for the collection of oil in a reservoir. Of particular interest to geologists were outcrops that provided evidence of alternating layers of porous and impermeable rock. The porous rock (typically a sandstone, limestone, or dolomite) provides the reservoir for the petroleum while the impermeable rock (typically clay or shale) prevents migration of the petroleum from the reservoir.A basic rule of thumb in the upstream (or producing) sector of the oil and gas industry has been (and maybe still is in some circles of exploration technology) that the best place to find new crude oil or natural gas is near formations where it has already been found. The financial risk of doing so is far lower than that associated with drilling a rank wildcat hole in a prospective, but previously unproductive, area.you can get all the information about exploring oil and gas, economics, physics, and engineering information

Economics of Unconventional Shale Gas Development

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Publisher : Springer
ISBN 13 : 3319114999
Total Pages : 248 pages
Book Rating : 4.3/5 (191 download)

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Book Synopsis Economics of Unconventional Shale Gas Development by : William E. Hefley

Download or read book Economics of Unconventional Shale Gas Development written by William E. Hefley and published by Springer. This book was released on 2014-12-03 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the economics and related impacts of unconventional shale gas development. While focusing on the Marcellus and Utica Shales in the Mid-Atlantic region, additional insights from other regions are included to provide a broader view of these issues. Shale gas development in recent years has changed the energy discussion in the US, as existing reserves of natural gas coupled with horizontal drilling and hydraulic fracturing make exploitation of these reserves economically feasible. The importance of natural gas is seen as likely to continue to expand over the coming years, and is expected to increase even further with environmental considerations, such as greenhouse gas emissions. Horizontal drilling and hydraulic fracturing producing natural gas from deposits such as the Marcellus Shale is making the US a net producer of natural gas. Previous studies have examined the economic impact of exploration and production in the region. Other studies have addressed legal, environmental, biodiversity, and public health impacts of unconventional shale development. This is the first volume to focus solely on the economics and related financial impacts of this development. This book not only fills the research gap, but also provides information that policy makers and the public need to better understand this pressing issue.

Economics of Worldwide Petroleum Production

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Publisher : Oil & Gas Consultants International, Incorporated
ISBN 13 :
Total Pages : 608 pages
Book Rating : 4.4/5 (91 download)

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Book Synopsis Economics of Worldwide Petroleum Production by : Fraser H. Allen

Download or read book Economics of Worldwide Petroleum Production written by Fraser H. Allen and published by Oil & Gas Consultants International, Incorporated. This book was released on 1993 with total page 608 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Fueling Up

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Publisher : Peterson Institute for International Economics
ISBN 13 : 0881326569
Total Pages : 172 pages
Book Rating : 4.8/5 (813 download)

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Book Synopsis Fueling Up by : Trevor Houser

Download or read book Fueling Up written by Trevor Houser and published by Peterson Institute for International Economics. This book was released on 2014-01-08 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: New drilling techniques for oil and natural gas are propelling an energy production renaissance in the United States. As the US economy struggles to emerge from the Great Recession, many see the boom as a possible source of economic salvation that could reduce unemployment and revitalize American manufacturing. Until now, however, there has been little objective analysis of the energy boom’s economic consequences. In this major study, Trevor Houser and Shashank Mohan fill that gap. Houser and Mohan assess the impact of the recent and projected increase in domestic energy production on US GDP, employment growth, manufacturing competitiveness, household expenditures, and international trade balance. Alongside its economic impact, they also explore the consequences for the environment and global warming, providing guidance for policymakers to navigate these issues.

Economic Analysis of Shale Gas Wells in the United States

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Publisher :
ISBN 13 :
Total Pages : 66 pages
Book Rating : 4.:/5 (864 download)

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Book Synopsis Economic Analysis of Shale Gas Wells in the United States by : Christopher Daniel Hammond

Download or read book Economic Analysis of Shale Gas Wells in the United States written by Christopher Daniel Hammond and published by . This book was released on 2013 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: Natural gas produced from shale formations has increased dramatically in the past decade and has altered the oil and gas industry greatly. The use of horizontal drilling and hydraulic fracturing has enabled the production of a natural gas resource that was previously unrecoverable. Estimates of the size of the resource indicate that shale gas has the potential to supply decades of domestically produced natural gas. Yet there are challenges surrounding the production of shale gas that have not yet been solved. The economic viability of the shale gas resources has recently come into question. This study uses a discounted cash flow economic model to evaluate the breakeven price of natural gas wells drilled in 7 major U.S. shale formations from 2005 to 2012. The breakeven price is the wellhead gas price that produces a 10% internal rate of return. The results of the economic analysis break down the breakeven gas price by year and shale play, along with P20 and P80 gas prices to illustrate the variability present. Derived vintage supply curves illustrate the volume of natural gas that was produced economically for a range of breakeven prices. Historic Natural Gas Futures Prices are used as a metric to determine the volumes and percentage of total yearly production that was produced at or below the Futures Price of each vintage year. From 2005 to 2008, the total production of shale gas resulted in a net profit for operators. A drop in price in 2009 resulted in a net loss for producers from 2009 to 2012. In 2012, only 26.5% of the total gas volume produced was produced at or below the 2012 Natural Gas Futures Price.

Employment Impacts of Upstream Oil and Gas Investment in the United States

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1498376061
Total Pages : 36 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Employment Impacts of Upstream Oil and Gas Investment in the United States by : Mark Agerton

Download or read book Employment Impacts of Upstream Oil and Gas Investment in the United States written by Mark Agerton and published by International Monetary Fund. This book was released on 2015-02-11 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Technological progress in the exploration and production of oil and gas during the 2000s has led to a boom in upstream investment and has increased the domestic supply of fossil fuels. It is unknown, however, how many jobs this boom has created. We use time-series methods at the national level and dynamic panel methods at the state-level to understand how the increase in exploration and production activity has impacted employment. We find robust statistical support for the hypothesis that changes in drilling for oil and gas as captured by rig-counts do in fact, have an economically meaningful and positive impact on employment. The strongest impact is contemporaneous, though months later in the year also experience statistically and economically meaningful growth. Once dynamic effects are accounted for, we estimate that an additional rig-count results in the creation of 37 jobs immediately and 224 jobs in the long run, though our robustness checks suggest that these multipliers could be bigger.

Supply and Costs in the U.S. Petroleum Industry (Routledge Revivals)

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Publisher : Routledge
ISBN 13 : 1317500296
Total Pages : 225 pages
Book Rating : 4.3/5 (175 download)

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Book Synopsis Supply and Costs in the U.S. Petroleum Industry (Routledge Revivals) by : Franklin M. Fisher

Download or read book Supply and Costs in the U.S. Petroleum Industry (Routledge Revivals) written by Franklin M. Fisher and published by Routledge. This book was released on 2015-06-11 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: Any discussion of the various facets of petroleum policy in the United States rests to a greater or less extent on the issue of sensitivity of petroleum exploration, and hence of new petroleum discoveries to economic incentives. Indeed, a principle argument in favour of having a special petroleum policy at all is that domestic petroleum exploration is so sensitive to economic considerations that in the absence of special incentives exploration expenditures would sharply decrease, as would the amount of petroleum discovered; consequently, the nation’s known oil resources would be reduced to an extent dangerous in the event of an international crisis. This study attempts to answer the question: how sensitive are new petroleum discoveries to economic incentives? This book will be of interest to students of environmental studies.

Petroleum Conservation in the United States

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Publisher : Routledge
ISBN 13 : 1135986584
Total Pages : 300 pages
Book Rating : 4.1/5 (359 download)

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Book Synopsis Petroleum Conservation in the United States by : Stephen Macdonald

Download or read book Petroleum Conservation in the United States written by Stephen Macdonald and published by Routledge. This book was released on 2013-10-18 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: The author develops an economic framework for analyzing state regulation of oil and gas and concludes that existing regulations fall short of assuring optimum well spacing, production rates, use of associated gas, and exploration. Originally published in 1971.

Economic Analysis of Oil and Gas Engineering Operations

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Publisher : CRC Press
ISBN 13 : 1000346404
Total Pages : 385 pages
Book Rating : 4.0/5 (3 download)

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Book Synopsis Economic Analysis of Oil and Gas Engineering Operations by : Hussein K. Abdel-Aal

Download or read book Economic Analysis of Oil and Gas Engineering Operations written by Hussein K. Abdel-Aal and published by CRC Press. This book was released on 2021-02-25 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: Engineers seek solutions to problems, and the economic viability of each potential solution is normally considered along with the technical merits. This is typically true for the petroleum sector, which includes the global processes of exploration, production, refining, and transportation. Decisions on an investment in any oil or gas field development are made on the basis of its value, which is judged by a combination of a number of economic indicators. Economic Analysis of Oil and Gas Engineering Operations focuses on economic treatment of petroleum engineering operations and serves as a helpful resource for making practical and profitable decisions in oil and gas field development. Reflects major changes over the past decade or so in the oil and gas industry Provides thorough coverage of the use of economic analysis techniques in decision-making in petroleum-related projects Features real-world cases and applications of economic analysis of various engineering problems encountered in petroleum operations Includes principles applicable to other engineering disciplines This work will be of value to practicing engineers and industry professionals, managers, and executives working in the petroleum industry who have the responsibility of planning and decision-making, as well as advanced students in petroleum and chemical engineering studying engineering economics, petroleum economics and policy, project evaluation, and plant design.

Market Impacts and Global Implications of U.S. Shale Development and Hydraulic Fracturing

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Publisher :
ISBN 13 :
Total Pages : 590 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Market Impacts and Global Implications of U.S. Shale Development and Hydraulic Fracturing by : Maduabuchi Pascal Umekwe

Download or read book Market Impacts and Global Implications of U.S. Shale Development and Hydraulic Fracturing written by Maduabuchi Pascal Umekwe and published by . This book was released on 2018 with total page 590 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States oil industry is experiencing a revolution because of significant oil production from tight oil plays since the mid-2000s. Advancements in horizontal well drilling and hydraulic fracturing are powering this new chapter in oil development. Increased oil production has brought billions of dollars of new revenue to oil companies involved in tight oil exploration and production, new jobs in the oil industry, and more tax revenue to oil regions around the U.S. However, tight oil resources do not only exist in the U.S. An understanding of the U.S. tight oil development experience could bring value to stakeholders within and outside the United States, and provide lessons and templates applicable in other tight oil regions. This research examines the U.S. tight oil experience and draws lessons for aspiring tight oil regions on the engineering, economic, and environmental fronts. On the economic front, I have examined an autoregressive distributed lag (ARDL) model on key oil industry macroeconomic data (West Texas Intermediate oil price, tight oil production, and rig count) from 2007 through 2016, and the impact of oil price on tight oil development for the Bakken, Eagle Ford, Niobrara, and Permian tight oil plays. The results show that oil companies in different plays react differently to oil price signals and do so in relation to oil field development characteristics. In addition, oil production and drilling intensity in the Eagle Ford play is found to be most responsive to oil price increases than the Permian, Bakken, or Niobrara oil plays. The Permian play was most resilient during the 2014 through 2016 oil price plunge. Oil production does not fall in response to a decrease in oil price, equally as it rises in response to oil price increase. Tight oil operators are quicker in bringing drilling rigs to service as prices rise than they take them away in response to falling oil prices, but do reduce drilling significantly in response to an oil price plunge. These results have significant ramifications for operators and assets in the respective oil plays or future plays with similar development characteristics. On the engineering front, I used petroleum engineering oil production forecasting Decline Curve Analysis techniques, the Drillinginfo Software, and historical development data of U.S. plays, to conduct oil production forecast for seven U.S. tight oil plays. Forecast results are shown to be comparable to forecasts by the Energy Information Administration (EIA). Building on previous EIA geologic studies on non-U.S. tight oil plays, and by selecting best analogues from within U.S. tight oil plays, I have completed an economic assessment and uncertainty analysis for 10 non-U.S. tight plays using a simple fiscal tax regime. The results indicate that the Eagle Ford play in Mexico, the Vaca Muerta play in Argentina, and the Qingshankou play in China rank highest among the plays studied. Of oil price, royalty rate, discount rate, well cost, extraction tax, and recovery factor parameters evaluated, results indicate that oil price and well cost are among the biggest drivers of profitability in these plays. On the environmental front, I conducted case studies on the busiest U.S. tight oil plays (Bakken and Eagle Ford) and examined the impact of tight oil development on the environment. Local solutions to environmental challenges alongside environmental regulations are discussed and presented as possible templates for other aspiring plays. Since securing freshwater sources alongside wastewater management emerge as major issues in tight oil development, a cost comparison is conducted for reused water disposal versus one-use water disposal options, for a hypothetical development. Results indicate that on a cost-per-well basis, the reduction in water disposal volume from subsurface frack flowback retention improves water reuse economics; the water reuse option is preferable to one-use water disposal for U.S. oil plays. This result points to potential cost savings for reused water disposal in regions such as the Bakken with few disposal wells.

Estimates of the Economic Cost of Producing Crude Oil

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Publisher :
ISBN 13 :
Total Pages : 456 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Estimates of the Economic Cost of Producing Crude Oil by :

Download or read book Estimates of the Economic Cost of Producing Crude Oil written by and published by . This book was released on 1976 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Economics and Politics of the United States Oil Industry, 1920-1990

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Publisher : Routledge
ISBN 13 : 1317224507
Total Pages : 491 pages
Book Rating : 4.3/5 (172 download)

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Book Synopsis The Economics and Politics of the United States Oil Industry, 1920-1990 by : Steve Isser

Download or read book The Economics and Politics of the United States Oil Industry, 1920-1990 written by Steve Isser and published by Routledge. This book was released on 2016-03-02 with total page 491 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, originally published in 1996, traces the development of US government policy toward the oil industry during the 1920s and 1930s when the domestic syustem of production control was established. It then charts the deveopment and collapse of oil import controls, and the wild scramble for economic rents generated by Government regulation. It discusses the two oil crises and the ‘phantom’ Gulf War crisis, and the importance of public opinion in shaping the policy agenda. It also provides an in-depth study of Congressional oil votes from the 1950s to the 1980s and the formation of oil policy, beginning with theories of economic regulation, the role of interest groups in developing the policy agenda and the role of money in politics.

Winning the Oil Lottery

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Publisher : International Monetary Fund
ISBN 13 : 1513587757
Total Pages : 34 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Winning the Oil Lottery by : Mr.Tiago Cavalcanti

Download or read book Winning the Oil Lottery written by Mr.Tiago Cavalcanti and published by International Monetary Fund. This book was released on 2016-03-14 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides evidence of the causal impact of oil discoveries on development. Novel data on the drilling of 20,000 oil wells in Brazil allows us to exploit a quasi-experiment: Municipalities where oil was discovered constitute the treatment group, while municipalities with drilling but no discovery are the control group. The results show that oil discoveries significantly increase per capita GDP and urbanization. We find positive spillovers to non-oil sectors, specifically, an increase in services GDP which stems from higher output per worker. The results are consistent with greater local demand for non-tradable services driven by highly paid oil workers.

Optimization and Business Improvement Studies in Upstream Oil and Gas Industry

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Publisher : John Wiley & Sons
ISBN 13 : 1119246571
Total Pages : 358 pages
Book Rating : 4.1/5 (192 download)

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Book Synopsis Optimization and Business Improvement Studies in Upstream Oil and Gas Industry by : Sanjib Chowdhury

Download or read book Optimization and Business Improvement Studies in Upstream Oil and Gas Industry written by Sanjib Chowdhury and published by John Wiley & Sons. This book was released on 2016-08-03 with total page 358 pages. Available in PDF, EPUB and Kindle. Book excerpt: Delves into the core and functional areas in the upstream oil and gas industry covering a wide range of operations and processes Oil and gas exploration and production (E&P) activities are costly, risky and technology-intensive. With the rise in global demand for oil and fast depletion of easy reserves, the search for oil is directed to more difficult areas – deepwater, arctic region, hostile terrains; and future production is expected to come from increasingly difficult reserves – deeper horizon, low quality crude. All these are making E&P activities even more challenging in terms of operations, technology, cost and risk. Therefore, it is necessary to use scarce resources judiciously and optimize strategies, cost and capital, and improve business performance in all spheres of E&P business. Optimization and Business Improvement Studies in Upstream Oil and Gas Industry contains eleven real-life optimization and business improvement studies that delve into the core E&P activities and functional areas covering a wide range of operations and processes. It uses various quantitative and qualitative techniques, such as Linear Programing, Queuing theory, Critical Path Analysis, Economic analysis, Best Practices Benchmark, Business Process Simplification etc. to optimize Productivity of drilling operations Controllable rig time loss Deepwater exploration strategy Rig move time and activity schedule Offshore supply vessel fleet size Supply chain management system Strategic workforce and human resource productivity Base oil price for a country Standardize consumption of materials Develop uniform safety standards for offshore installations Improve organizational efficiency through business process simplification The book will be of immense interest to practicing managers, professionals and employees at all levels/ disciplines in oil and gas industry. It will also be useful to academicians, scholars, educational institutes, energy research institutes, and consultants dealing with oil and gas. The work can be used as a practical guide to upstream professionals and students in petroleum engineering programs.