Here is a valuable guide to appraise and develop petroleum resources. Geology largely determines exploration policy. This book analyzes the strategic connection between the two and shows how to improve decision making on appraising and developing petroleum resources. It examines and describes the internal patterns in finding oil and gas deposits and outlines a process to evaluate the resources. The book also provides a means for long-term reserve accrual forecasting and evaluation. It uses mathematical modeling as a method to evaluate the initial potential of an oil and gas region as well as a way to forecast future reserves. These models improve the reliability and validity of exploration forecasts and estimates. Strategies for Optimizing Petroleum Exploration helps petroleum engineers and explorationists focus and improve their reserve assessment and decision making. This book shows how to develop and appraise petroleum resources.
Petroleum Economics and Risk Analysis: A Practical Guide to E&P Investment Decision-Making, Volume 69, is a practical guide to the economic evaluation, risk evaluation and decision analysis of oil and gas projects through all stages of the asset lifecycle, from exploration to late life opportunities. This book will help readers understand and make decisions with regard to petroleum investment, portfolio analysis, discounting, profitability indicators, decision tree analysis, reserves accounting, exploration and production (E&P) project evaluation, and E&P asset evaluation. - Includes case studies and full color illustrations for practical application - Arranged to reflect lifecycle structure, from exploration through to decommissioning - Demonstrates industry-standard decision-making techniques as applied to petroleum investments in the oil and gas industry
Ira Horowitz Depending upon one's perspective, the need to choose among alternatives can be an unwelcome but unavoidable responsibility, an exciting and challenging opportunity, a run-of-the-mill activity that one performs seem ingly "without thinking very much about it," or perhaps something in between. Your most recent selections from a restaurant menu, from a set of jobs or job candidates, or from a rent-or-buy or sell-or-Iease option, are cases in point. Oftentimes we are involved in group decision processes, such as the choice of a president, wherein one group member's unwelcome responsibility is another's exciting opportunity. Many of us that voted in the presidential elections of both 1956 and 1984, irrespective of political affiliation, experienced both emotions; others just pulled the lever or punched the card without thinking very much about it. Arriving at either an individual or a group decision can sometimes be a time consuming, torturous, and traumatic process that results in a long regretted choice that could have been reached right off the bat. On other occasions, the "just let's get it over with and get out of here" solution to a long-festering problem can yield rewards that are reaped for many 1 ORGANIZATION AND DECISION THEORY 2 years to come. One way or another, however, individuals and organiza tions somehow manage to get the decision-making job done, even if they don't quite understand, and often question, just how this was accomplished.
The steps that lead to the production of oil and gas are diverse, complex and costly. They are diverse because the detection of oil and gas involves input from many specialties, ranging from geology to reservoir engineering. They are complex, as shown by the development of the job of the petroleum architect, who coordinates all the operations. They are costly, as the investments for exploration and production represent more than half of all investments in the oil and gas sector. Moreover, exploration is a risky activity, both from the technical and financial viewpoint: only one well in five produces marketable oil. Meanwhile, the areas for exploration and production are spread throughout the world.
Elements of Petroleum Geology, Fourth Edition is a useful primer for geophysicists, geologists and petroleum engineers in the oil industry who wish to expand their knowledge beyond their specialized area. It is also an excellent introductory text for a university course in petroleum geoscience. This updated edition includes new case studies on non-conventional exploration, including tight oil and shale gas exploration, as well as coverage of the impacts on petroleum geology on the environment. Sections on shale reservoirs, flow units and containers, IOR and EOR, giant petroleum provinces, halo reservoirs, and resource estimation methods are also expanded. - Written by a preeminent petroleum geologist and sedimentologist with decades of petroleum exploration in remote corners of the world - Covers information pertinent to everyone working in the oil and gas industry, especially geophysicists, geologists and petroleum reservoir engineers - Fully revised with updated references and expanded coverage of topics and new case studies
This book gathers selected papers from the 8th International Field Exploration and Development Conference (IFEDC 2018) and addresses a broad range of topics, including: Reservoir Surveillance and Management, Reservoir Evaluation and Dynamic Description, Reservoir Production Stimulation and EOR, Ultra-Tight Reservoirs, Unconventional Oil and Gas Resources Technology, Oil and Gas Well Production Testing, and Geomechanics. In brief, the papers introduce readers to upstream technologies used in oil & gas development, the main principles of the process, and various related design technologies. The conference not only provided a platform to exchange experiences, but also promoted the advancement of scientific research in oil & gas exploration and production. The book is chiefly intended for industry experts, professors, researchers, senior engineers, and enterprise managers.
This book presents detailed explanations of how to formulate field development plans for oil and gas discovery. The data and case studies provided here, obtained from the authors’ field experience in the oil and gas industry around the globe, offer a real-world context for the theories and procedures discussed. The book covers all aspects of field development plan processes, from reserve estimations to economic analyses. It shows readers in both the oil and gas industry and in academia how to prepare field development plans in a straightforward way, and with substantially less uncertainty.
Risk Assessment and Decision Making in Business and Industry: A Practical Guide presents an accessible treatment of the procedures and technologies involved in designing and building risk-assessment processes and models. Areas examined include: brokerage-house portfolio management legal decision making construction oil/gas exploration environmental assessments engineering marketing government manufacturing The entire volume is presented as a narrative, keeping statistical jargon to a minimum and explaining all concepts, techniques, and processes in a straightforward manner. The author emphasizes that the technical aspects of a risk-assessment and decision-making effort are secondary to the cultural, organizational, and interpersonal facets of establishing a framework. "Practical" is the operative term throughout the text. Risk Assessment and Decision Making in Business and Industry: A Practical Guide enables readers who are not risk experts to effect an easy execution of the risk model building effort.