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

Technology

Nordic Wins with Noble

Nordic Maritime, a leading offshore service operator, today announced a five year time charter for its DP2 IMR Subsea vessel, Mokul Nordic, which has been awarded by Noble Energy,

Foster Wheeler to Upgrade ExxonMobil's Antwerp Refinery

Foster Wheeler AG announced today that a subsidiary of its Global Engineering and Construction Group has been awarded an engineering, procurement, and construction

Pemex Suspends Eviction of Workers in Campeche

Due to the behavior shown by the low pressure system in the Gulf of Mexico, whose career was diverted in the last hours, the Technical Analysis Group Emergency

Energy

US Warns of Sanctions on Buyers of Islamic State Oil

The Obama administration on Thursday threatened to slap sanctions on anyone buying oil from Islamic State militants in an effort to disrupt what it said was a $1-million-a-day funding source.

Three Dead in Offshore Platform Accident

Three workers were killed and one is still missing after an accident at one of the offshore oil and gas platforms in the Caspian Sea in Azerbaijan, Azeri state energy company SOCAR said on Thursday.

MEPC Makes Progress on Energy Efficiency, Emissions

The Marine Environment Protection Committee (MEPC) of the International Maritime Organization (IMO) met for its 67th session from October 13-17, 2014, at IMO Headquarters in London.

News

New York, London Juxtaposed by New Maritime Event

On November 13, the newly formed New York Maritime Consortium, a coalition of leaders from New York Maritime Inc. (NYMAR), the Society of Maritime Arbitrators (SMA),

Transas to Supply TechSim Solutions to SUNY Maritime

The Navsim Services and Transas Americas Team, have been awarded contracts for supply of a combination of full mission, classroom and cloud based Transas Technical

FMT Options for another Towboat from Eastern

Eastern Shipbuilding Group, Inc. announce that Florida Marine Transporters, Inc. of Mandeville, La. exercised another additional 90’x32’x10’ “Canal Class” Inland

 
 
Maritime Contracts Maritime Security Naval Architecture Pipelines Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction 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: 0.1746 sec (6 req/sec)