Fossil Fuel Recovery to Benefit from New Technology

Press Release
Thursday, April 19, 2012

New York - Considerable investment is being ploughed into oil and gas enhanced production services in the hope of increasing production efficiency in a market in which global hydrocarbon consumption is only expected to increase, according to market intelligence experts GBI Research.

The new report shows that the application of enhanced production techniques, such as the artificial lift technique in upstream production processes, and sand control services, will considerably improve the percentage recovery of oil and gas from onshore and offshore reservoirs.
Artificial lift services picked up the pace in 2011 as a result of increasing oil and gas demand, which brought about the need to enhance production above levels achieved from naturally flowing reservoirs. The Ministry of Oil and Gas in Bahrain has recently declared an increase of over 25 percent in their country’s oil production, from 32,000 barrels per day to roughly 40,000 barrels per day. This represents the first production increase in the past 33 years, and is direct a result of artificial lift techniques, applied in oil and gas extraction activities within their wells.

Global artificial lift expenditure is expected to steadily increase at an AAGR of 8.83 percent during 2011-2016, from $6.18 billion in 2011 to some $8.91 billion in 2016.

Artificial lifts improve the percentage of hydrocarbon recovery, by adding energy to the fluid column in a wellbore to initiate and develop production from the well. Artificial-lift systems use a range of operating principles, including rod pumping, gas lifts, and electric submersible pumps.

Sand control services are also expected to gain popularity, driven by E&P activity in mature oil and gas fields. As oil and gas reservoirs reach their peak production cycles, there is an increase in water and sand production, as sand production naturally rises in correlation with the age of well, while the hydrocarbon production yield falls. Some new wells with reservoir properties also require sand screens and proppant in the well completion.

Sand control services prevent the transport of solids from the reservoir into the process facilities, which could adversely hamper flow assurance and impact well integrity. Therefore, sand management solutions are expected to be of rapidly increasing importance, especially for depleting reservoirs in today’s increasingly competitive market. Utilization of technology, such as sub-sea sand erosion sensors, which control sand production rates and removal services, could lead to reduced shutdowns, and help operators increase production efficiency from depleting or mature assets.
 

Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Technology

BMT WBM to Showcase TUFLOW at World Bank Seminar

BMT WBM ( (BMT), a subsidiary of BMT Group Ltd, a leading international engineering and risk management consultancy, is delighted to announce that it will be presenting

Senator Kaine Tours NNS Apprentice School

Huntington Ingalls Industries (HII) apprises that it has hosted Sen. Tim Kaine, D-Va., for a tour of The Apprentice School at the company's Newport News Shipbuilding division.

Rosneft Restores Meteorological Observations System in Kara Sea

As part of a large-scale summer Arctic research expedition "Kara-Summer - 2014" a meteorological station was installed that meets the latest modern requirements for such equipment,

Offshore

SBM Offshore Completes Real Estate Divestment

SBM Offshore is pleased to announce that is has completed the sale and lease back of its Monaco real estate portfolio.  The last of the three buildings was sold

Keppel T & T Appoints Lim Chin Leong to its Board

Keppel Telecommunications & Transportation Ltd (Keppel T&T) has strengthened its Board with the appointment of Mr Lim Chin Leong as an independent, non-executive

Odfjell Drilling in Tighter 2Q North Sea Market

Odfjell Drilling reports second quarter 2014 financial results showing a profit of US$29-million. Profit & loss Q2 2014 Operating revenue for Q2 2014 was USD 272 million (USD 289 million),

Energy

Brazil Presidential Candidate Silva Moots Price on Carbon

Brazilian presidential candidate Marina Silva plans to put a price on greenhouse gas emissions and implement a national carbon market if elected, according to policy proposals released on Friday.

SBM Offshore Completes Real Estate Divestment

SBM Offshore is pleased to announce that is has completed the sale and lease back of its Monaco real estate portfolio.  The last of the three buildings was sold

Athabasca Completes Dover Stake Sale to PetroChina

Canada's Athabasca Oil Corp said it had closed the sale of its 40 percent interest in the Dover oil sands project to a unit of PertroChina Co Ltd for $1.18 billion.

News

Brazil Presidential Candidate Silva Moots Price on Carbon

Brazilian presidential candidate Marina Silva plans to put a price on greenhouse gas emissions and implement a national carbon market if elected, according to policy proposals released on Friday.

SBM Offshore Completes Real Estate Divestment

SBM Offshore is pleased to announce that is has completed the sale and lease back of its Monaco real estate portfolio.  The last of the three buildings was sold

Kalmar to Supply 4 RTGs to Super Terminais, Brazil

Kalmar, part of Cargotec, will deliver four E-One2 Zero Emission rubber-tyred gantry cranes (RTGs) to Super Terminais in Manaus, Brazil. The 8 million USD order

 
 
Maritime Contracts Naval Architecture Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2432 sec (4 req/sec)