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 October 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Technology

NAVTOR, AWT Agreement Marks Next Step in E-navigation

NAVTOR has signed an agreement with maritime weather routing specialist Applied Weather Technology (AWT) that will see the two companies integrating their services

BCG Upgrades Virtual GMDSS Simulator

Buffalo Computer Graphics (BCG) Inc. released an updated version of its Virtual Global Maritime Distress and Safety System (VGMDSS) Simulation software. BCG’s VGMDSS

Australia, US Order Anti-ship Missile Decoys

Design of the next generation of anti-ship missile decoys is set to commence following the signing of two contracts between the Australian Defense Force and BAE Systems Australia Pty Ltd.

Offshore

MOL Merges Group Companies; Upgrades Bridge Simulator

MOL adds DPS and enhances safe operation by integrating expertise through merger Mitsui O.S.K. Lines, Ltd. (MOL) announced the merger of MOL Marine Consulting, Ltd.

Swire Pacific Acquires 3rd L Class PSV

Shipowner and operator, Swire Pacific Offshore Operations (Pte) Ltd (SPO) celebrated the naming and delivery of its third L Class PSV vessel, Pacific Legend in Kyoto,

Norvestor to Become PG’s Largest Shareholder

Norvestor VI, L.P., a fund advised by Norvestor Equity AS, announced it has signed an agreement to invest in Ing Per Gjerdrum AS including its subsidiaries PG Hydraulics AS and PG Construction AS.

Energy

Leak May Sideline New Mexico Nuclear Waste Site

It may be five years before a nuclear waste dump in New Mexico closed by a radiation leak is fully operational again, and the facility will need at least $240

Imperial Oil Completes Maintenance at Kearl Oil Mine

Imperial Oil Ltd said on Tuesday it has completed a two-week major maintenance turnaround at its 110,000 barrel per day Kearl oil sands mine in northern Alberta.

Swissco Doubles Rig Fleet

SGX Mainboard-listed Swissco Holdings Limited an integrated, international marine services provider, today announced having completed the acquisition of four additional mobile offshore drilling units,

News

Livorsi Launches New Throttle Lineup

Livorsi Marine introduced the all new Platinum Series throttles, which they say are designed to be more ergonomically comfortable to the operator while being lighter

Henderson, Hanes & Associates Opens Doors in Miami

Ocean Engineering/ Naval Architecture Firm Brings Innovation to the Mega Yacht Community The Miami-based ocean engineering and naval architecture firm of Henderson & Associates, Inc.

Austal Launches Trenton (JHSV 5)

Second Joint High Speed Vessel to be launched at Austal in 2014 On September 30, 2014, Austal USA successfully completed the launch process of Trenton (JHSV

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Pod Propulsion Salvage Shipbuilding / Vessel Construction 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: 0.2975 sec (3 req/sec)