Management practices and digital technologies used by other industries can help oil and gas companies boost capital-project productivity. With the price of oil recovering, many oil and gas (O&G) companies worldwide are launching new capital projects in pursuit of growth. But because many projects
For example, you can use geodatabases, remote sensing, map automation and more. The oil and gas industry is BIG. Oil and gas data sets are largely geographically based. For this reason, GIS can provide solutions on constructing pipelines, drilling oil wells and environmental protection.
The note is intended to provide an overview for those advising on the financing of projects in the oil or gas industries, or to those who are seeking to understand the typical structures and risks involved in oil and gas projects. For more general information on the nature of gas and/or oil projects, see Practice notes:
Gas injection, which uses gases such as natural gas, nitrogen, or carbon dioxide (CO 2) that expand in a reservoir to push additional oil to a production wellbore, or other gases that dissolve in the oil to lower its viscosity and improves its flow rate. Gas injection accounts for nearly 60 percent of EOR production in the United States.
10 Safety Tips for Oil and Gas Industry Workers. Workers in the oil and gas extraction industry continue to be one of the highest at risk of injuries and fatalities on the job compared to all other industries in the United States. The most recent data from the Bureau of Labor Statistics (2015) revealed that out of 120 workplace deaths in the mining,
The good news is that unlike banks and insurance firms, oil & gas companies still sell tangible products to people – so your models are more similar. Oil & Gas Financial Statements – Projecting Revenue and Expenses. Before you begin projecting an energy company’s financial statements, you need to know something about the units used.
Equipment for oil and gas production On general contract basis the company effects field facility construction with complex turn-key delivery of main and auxiliary process equipment, piping, oil metering stations, control and measuring units, fire detection and fire fighting systems, pumping units.
EPC Contracts in the oil and gas sector Introduction Engineering, procurement and construction (EPC) contracts are a common form of contract used to undertake construction works by the private sector on large-scale and complex oil and gas projects.1 Under an EPC
One oil and gas company, for instance, took inspiration from the software-development world and used a “scrum” approach to simplify drilling standards from 1,000 pages to fewer than 100. The company completed this exercise in a matter of weeks and cut drilling cost by 30 percent.
Oil and gas projects are technically complicated, requiring maximum care and innovative thinking to deliver systems that are safe, secure, functional, and
by iWell. iWell provides oil and gas production companies an easier and cost effective way to capture, report, and evaluate field and production data. iWell Pumper is the #1 mobile solution for pumpers to track and submit production reports. iWell Remote allow operators to remotely track oil and water tanks without incurring large,
To integrate the tools and corporate metrics into an annual oil and gas planning and decision process, most oil and gas corporate planners first translate a set of corporate strategies into guidelines to advise the business units as they develop projects. Most oil and gas companies use two separate but interrelated planning processes throughout
Goliat is a pioneering project in the oil and gas industry. Lo-cated within the Arctic Circle, it is the first oil and gas project ever in the Barents Sea. Production will take place from the Goliat FPSO – a truly state-of-the-art platform that is designed to meet the chal-lenging conditions and strict environmental requirements for
In this report, part of the oil and gas capital projects series, we focus on a smaller subset of this projects database, made up of only those projects where we were able to clearly ascertain project ownership structure: 205 JV projects and 128 single-operator projects, Joint ventures for oil and gas megaprojects
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6 Oil and gas megaproject development Pre-FID improvement initiatives Our 2015 Spotlight on oil and gas megaprojects report showed that industry-wide performance over the project development life cycle is poor, with 64% of projects over budget and 73% over schedule.
The natural gas is produced and processed at a central facility in Temane and then transported via an 865 km pipeline to South Africa, with a link to southern Mozambique for domestic use. Additionally, Sasol will develop an integrated oil and liquefied petroleum gas project adjacent to its existing petroleum facility.
Land Use Planning and Leasing Reform. New oil and gas operations using best management practices typically use fewer than 5 percent of the surface area of the lease. This leaves the remaining land open for other uses. After oil and gas development is complete, the BLM requires reclamation of the land to return all land to multiple-use.
Luckily, oil and gas companies can bring their knowledge and experience in developing large-scale offshore infrastructure projects up the Atlantic seaboard to create a thriving stateside industry for offshore wind energy, thereby moving the dial toward a cleaner, more sustainable future.
Oil and gas projects have special characteristics that need a different technique in project management. The development of any country depends on the development of the energy reserve through investing in oil and gas projects through onshore and offshore exploration, drilling, and increasing facility capacities.
The offshore sector will increasingly focus on natural gas instead of oil over the next few decades, while policy support and technology improvements could also see offshore investment shift in