Search Results (32)

Oil and gas development is characterized by high technical complexity, strong interdisciplinarity, long investment cycles, and significant uncertainty. To meet the need for quick evaluation of overseas oilfield projects with limited data and experience, this study develops an analogy indicator system and tests multiple machine-learning algorithms on two analogy tasks to identify the optimal method. Using an initial set of basic indicators and a database of 1436 oilfield samples, a combined subjective–objective weighting strategy that integrates statistical methods with expert judgment is used to select, classify, and assign weights to the indicators. This process results in 26 key indicators for practical analogy analysis. Single-indicator and whole-asset analogy experiments are then performed with five standard machine-learning algorithms—support vector machine (SVM), random forest (RF), backpropagation neural network (BP), k-nearest neighbor (KNN), and decision tree (DT). Results show that SVM achieves classification accuracies of 86% and 95% in medium-high permeability sandstone oilfields, respectively, greatly surpassing other methods. These results demonstrate the effectiveness of the proposed indicator system and methodology, providing efficient and objective technical support for evaluating and making decisions on overseas oilfield development projects. Full article

This study is devoted to a comprehensive technical and economic assessment of the prospects for the development of the oil and gas sector in the Republic of Mozambique in the context of the global energy transition. The analysis of key gas projects, including Coral South FLNG and Mozambique LNG, focused on their technological features, economic parameters and environmental impact. It is shown that the introduction of floating liquefaction technology reduces capital expenditures, increases operational flexibility, and minimizes infrastructure risks, especially in conditions of geopolitical instability. Based on a comparative analysis of the projects, it was found that the use of modular solutions and the integration of carbon capture and storage (CCS) systems contribute to improving sustainability and investment attractiveness. A patent analysis of technological innovations was carried out, which made it possible to substantiate the prospects for using nanotechnologies and advanced CO₂ capture systems for further development of the sector. The results of the study indicate the need to strengthen content localization, develop human capital, and create effective revenue management mechanisms to ensure sustainable growth. The developed strategic development concept is based on the principles of the sixth technological paradigm, which implies an emphasis on environmental standards and technological modernization, including on the basis of nanotechnology. Thus, it is established that the successful implementation of gas projects in Mozambique can become the basis for long-term socio-economic development of the country, provided that technological and institutional innovations are integrated. Full article

Developing clean and renewable energy instead of the ones related to hydrocarbon resources has been known as one of the different ways to guarantee reduced greenhouse gas emissions. Geothermal systems and native hydrogen exploration could represent an opportunity to diversify the global energy matrix and lower carbon-related emissions. All of these natural energy sources require a well to be drilled for its access and/or extractions, similar to the petroleum industry. The main focuses of this technical–scientific contribution and research are (i) to evaluate the global energy matrix; (ii) to show the context over the years and future perspectives on geothermal systems and natural hydrogen exploration; and (iii) to present and analyze the importance of developing technologies on drilling process optimization aiming at accessing these natural energy resources. In 2022, the global energy matrix was composed mainly of nonrenewable sources such as oil, natural gas, and coal, where the combustion of fossil fuels produced approximately 37.15 billion tons of CO₂ in the same year. In 2023, USD 1740 billion was invested globally in renewable energy to reduce CO₂ emissions and combat greenhouse gas emissions. In this context, currently, about 353 geothermal power units are in operation worldwide with a capacity of 16,335 MW. In addition, globally, there are 35 geothermal power units under pre-construction (project phase), 93 already being constructed, and recently, 45 announced. Concerning hydrogen, the industry announced 680 large-scale project proposals, valued at USD 240 billion in direct investment by 2030. In Brazil, the energy company Petroleo Brasileiro SA (Petrobras, Rio de Janeiro, Brazil) will invest in the coming years nearly USD 4 million in research involving natural hydrogen generation, and since the exploration and access to natural energy resources (oil and gas, natural hydrogen, and geothermal systems, among others) are achieved through the drilling of wells, this document presents a technical–scientific contextualization of social interest. Full article

Challenges in investment decisions for new fuels remain due to uncertain scenarios regarding profitability. There is also a challenge to improve production efficiency and waste utilization, either for biomass or by-products. This study evaluates the economic potential of biomethane production within sugarcane biorefineries through the principles of the circular economy and economic feasibility. To obtain price data for CBios, Brent crude oil, and natural gas, stochastic models based on GBM and Monte Carlo simulations were applied to project prices and assess revenue potential over a 10-year horizon. Price data were incorporated to assess market correlations and revenue scenarios. Key findings reveal that biomethane’s price stability, driven by its strong correlation with oil markets, supports its viability as a renewable energy source, while CBio presents a weak correlation and limited price predictability with present challenges for long-term planning. Economic modeling indicates high investment returns, with IRR values surpassing 35% in conservative scenarios and payback periods from 2 to 6 years. These results highlight biomethane’s potential for energy efficiency, carbon emission reduction, and the creation of new revenue through waste use. We conclude that targeted investments in biomethane infrastructure, coupled with policy and market support, are essential for achieving global sustainability goals. Full article

In recent years, due to the spike in natural gas spot prices, gas-fired power corporations’ operating costs have skyrocketed. Traditional power generation corporations have gradually been withdrawing from gas power generation investment, replaced by oil and gas enterprises with upstream resources. The development of gas-fired power plants helps to maintain the stability of the power grid and has a positive effect on the realization of carbon neutrality goals. At present, most of the financial evaluation methods for gas power generation projects tend to focus on the static tariffs of the project itself and lack consideration for the overall contribution to the industry chain and the latest “gas–electricity price linkage” mechanisms in China, leading to oil and gas enterprises reducing investment in gas-fired power plants due to yield constraints. In this paper, a financial evaluation methodology for gas power generation projects based on the industrial chain and the “gas–electricity price linkage” mechanism was proposed. The investment return characteristics of specific gas power generation projects under the “gas–electricity price linkage” mechanism in different provinces were revealed through this methodology. Considering the characteristics and industrial development trends in major provinces in China, investment and operation strategies for gas power generation were proposed. These studies provide oil and gas enterprises with references and suggestions for future investment decisions for new gas power generation projects. Full article

In the quest for achieving decarbonisation, it is essential for different sectors of the economy to collaborate and invest significantly. This study presents an innovative approach that merges technological insights with philosophical considerations at a national scale, with the intention of shaping the national policy and practice. The aim of this research is to assist in formulating decarbonisation strategies for intricate economies. Libya, a major oil exporter that can diversify its energy revenue sources, is used as the case study. However, the principles can be applied to develop decarbonisation strategies across the globe. The decarbonisation framework evaluated in this study encompasses wind-based renewable electricity, hydrogen, and gas turbine combined cycles. A comprehensive set of both official and unofficial national data was assembled, integrated, and analysed to conduct this study. The developed analytical model considers a variety of factors, including consumption in different sectors, geographical data, weather patterns, wind potential, and consumption trends, amongst others. When gaps and inconsistencies were encountered, reasonable assumptions and projections were used to bridge them. This model is seen as a valuable foundation for developing replacement scenarios that can realistically guide production and user engagement towards decarbonisation. The aim of this model is to maintain the advantages of the current energy consumption level, assuming a 2% growth rate, and to assess changes in energy consumption in a fully green economy. While some level of speculation is present in the results, important qualitative and quantitative insights emerge, with the key takeaway being the use of hydrogen and the anticipated considerable increase in electricity demand. Two scenarios were evaluated: achieving energy self-sufficiency and replacing current oil exports with hydrogen exports on an energy content basis. This study offers, for the first time, a quantitative perspective on the wind-based infrastructure needs resulting from the evaluation of the two scenarios. In the first scenario, energy requirements were based on replacing fossil fuels with renewable sources. In contrast, the second scenario included maintaining energy exports at levels like the past, substituting oil with hydrogen. The findings clearly demonstrate that this transition will demand great changes and substantial investments. The primary requirements identified are 20,529 or 34,199 km² of land for wind turbine installations (for self-sufficiency and exports), and 44 single-shaft 600 MW combined-cycle hydrogen-fired gas turbines. This foundational analysis represents the commencement of the research, investment, and political agenda regarding the journey to achieving decarbonisation for a country. Full article

The objective of this study is to analyze the economic viability of municipal household solid waste (organic matter + paper) for the production of gas, coke and biofuel through the pyrolysis and distillation process. The waste was collected in the city of Belém do Pará-Brazil and pretreated at the Federal University of Pará. The analyzed fraction (organic matter + paper) was subjected to the pretreatment of drying, crushing, and sieving and was subsequently subjected to proximate characterization and, finally, pyrolysis of the organic fraction (organic matter + paper) in a fixed bed reactor. Initially, it was necessary to review the literature, and with the yields obtained by pyrolysis of the fraction, economic feasibility analyses were carried out. The economic indicators for evaluating the most viable pyrolysis process were basic payback, discounted payback, net present value, internal rate of return, and profitability index, which are all financial metrics commonly used in investment analysis and decision making. These metrics provide valuable insights into the financial viability and attractiveness of investment projects. They are essential tools for assessing the feasibility and profitability of various ventures, helping decision-makers make informed choices in allocating resources. The analysis of the indicators showed the economic viability considering an analysis horizon of 10 years of materials based on organic material and paper. The breakeven point obtained was USD 0.96/dm³ and the minimum biofuel sales price found in this project was USD 1.30/dm³. The sensitivity research found that material costs (organic matter + paper), bio-oil yield, total project investment and electricity, respectively, are the variables that most affect the minimum biofuel sales price. Full article

Enhanced oil recovery (EOR) is a complex process which has high investment cost and involves multiple disciplines including reservoir engineering, chemical engineering, geological engineering, etc. Finding the most suitable EOR technique for the candidate reservoir is time consuming and critical for reservoir engineers. The objective of this research is to propose a new methodology to assist engineers to make fast and scientific decisions on the EOR selection process by implementing machine learning algorithms to worldwide EOR projects. First, worldwide EOR project information were collected from oil companies, the extensive literature, and reports. Then, exploratory data analysis methods were employed to reveal the distribution and relationships among different reservoir/fluid parameters. Random forest, artificial neural networks, naïve Bayes, support vector machines, and decision trees were applied to the dataset to establish classification models, and five-fold cross-validation was performed to fully apply the dataset and ensure the performance of the model. Utilizing random search, we optimized the model’s hyper parameters to achieve optimal classification results. The results show that the random forest classification model has the highest accuracy and the accuracy of the test set increased from 88.54% to 91.15% without or with the optimization process, achieving an accuracy improvement of 2.61%. The prediction accuracy in the three categories of thermal flooding, gas injection, and chemical flooding were 100%, 96.51%, and 88.46%, respectively. The results also show that the established RF classification model has good capability to make recommendations of the EOR technique for a new candidate oil reservoir. Full article

With the strategic goal of “carbon peaking and carbon neutral” in China, new requirements are also put forward for the thermal recovery of heavy oil. In view of the problems of excessive greenhouse gas emission, low steam utilization rate, poor economic efficiency, and limited reservoir application of steam stimulation replacement technology in China, the emerging technologies of medium- and low-temperature thermal fluid, solvent-assisted high-temperature steam injection, solvent-based medium- and low-temperature waterless recovery and in situ electric heating-assisted recovery are discussed in terms of technical principles, technical parameters, experimental/field effects, and technical and economic potential. The technical principles, technical parameters, experimental/field results, and techno-economic potential of low-carbon heavy oil recovery technologies are summarized and future development directions and trends are anticipated. The study’s findings indicate that some of the technologies that have been tested in the field, such as HWVP, EMVAPEX, AH-VAPEX, LASER, and ESEIEH, can be developed by relying on the original well groups for production and can reduce greenhouse gas emissions, such as CO₂, by about 80% and improve crude oil recovery by 5% to 10%, while the technologies concerned have outstanding effects on increasing oil production rate and lowering upfront capital investment. Some of the technologies that have been tested significantly increase oil production rate, lower initial capital expenditure, and enable solvent recycling, among other things. Among them, COBEEOR and N-SOLV technologies can also lower the amount of asphaltene in the output crude oil, enhance the API of the recovered crude oil, and provide strong economic advantages. CSP, CHSI, and hot water solvent injection were tested in indoor two-dimensional and three-dimensional experiments to validate their feasibility, while CO₂, propane, and butane solvents were initially screened and some of the technologies’ mechanisms were revealed to lay the groundwork for pilot projects. The executive summary of the research findings will serve as a guide for future low-carbon extraction technology research and development in China. Full article

The energy sector has been the main economic hub in everyone’s lives and in world geopolitics. Consequently, oil, gas, electricity and energy from renewable sources (wind and solar) are traded on the stock market, and all interconnected around the world. On the other hand, a global health crisis, such as COVID-19, can produce a great economic catastrophe. In this scenario, a robust statistical analysis will be performed here with respect to the concept of interdependence and contagion effect. For this project, we chose to study the relationship between the main source of energy (crude oil, WTI and Brent) and two (Gold and Silver) precious metals (which are a safe haven for investment). Therefore, with the novelty of the application of ${\rho }_{DCCA}$ and $\Delta {\rho }_{DCCA}$ coefficients before and during the COVID-19 crisis (announced by the World Health Organization), the interdependence and the contagion effect were calculated. We verified that COVID-19 had no influence on contagion effect between crude oil in its indexes, WTI and Brent, since they have already shown to be highly interdependent, both before and after the World Health Organization COVID-19 decree. Likewise, COVID-19 had a significant influence on the crude oil and precious metal sectors, which was evident as we identified an increase in its interdependence, with a clearly positive contagion. These results show that COVID-19 imposed a restructuring in the relationship between energy (crude oil) and precious metals. More details will be presented throughout this article. Full article

Desert palm date seeds are a potential feedstock for biodiesel and biomass pellet production, particularly in the Middle East and Africa. A model was developed in this study based on optimal conditions for the production of biodiesel, and it was used to evaluate the financial viability of a small-scale biodiesel plant (1000 t/y) using economic performance metrics including net present value, rate of investment, and payback period. Biodiesel was then produced from date seed oil (DSO) and blended with petrol diesel to make four blends (B5, B10, B15, and B20). The technical performance of these blends was investigated using a test engine rig under differing operating conditions, including variations in load and rpm. The investment performance of the proposed biodiesel plant was very sensitive to the price of biomass pellets; the project was feasible only when this was 70% that of wood pellets or higher. The baseline diesel outperformed the biodiesel blends in terms of engine power, thermal efficiency, and fuel economy, with average decreases of 4.5%, 7.65%, and 9.84%, respectively, at full load for B20. However, the biodiesel blends outperformed the baseline diesel in exhaust gas temperature (EGT), with average drops of 29 and 46.7 °C at full load for B5 and B20, respectively. Our study clearly demonstrates that due to it being obtained from existing waste materials, having a cleaner but comparable performance, and its economic viability, date seed oil has excellent potential as a feedstock for biodiesel production. Full article

Natural gas flaring, with its harmful environmental, health, and economic effects, is common in the Nigerian oil and gas industry because of a lower tax regime for flared gases. Based on the adverse effects of flared gas, the Nigerian government has renewed and improved its efforts to reduce or eliminate gas flaring through the application of natural gas utilisation techniques. However, because the conventional approach to flare gas utilisation is heavily reliant on achieving scale, fuel, and end-product prices, not all technologies are technically and economically viable for typically capturing large and small quantities of associated gas from various flare sites or gas fields (located offshore or onshore). For these reasons, this paper reviews and compares various flare gas utilisation options to guide their proper selection for appropriate implementation in the eradication of routine gas flaring in Nigeria and to promote the Zero Routine Flaring initiative, which aims to reduce flaring levels dramatically by 2030. A qualitative assessment is used in this study to contrast the various flare gas utilisation options against key decision drivers. In this analysis, three natural gas utilisation processes—liquefied natural gas (LNG), gas to wire (GTW), and gas to methanol (GTM)—are recommended as options for Nigeria because of their economic significance, technological viability (both onshore and offshore), and environmental benefits. All these gas utilisation options have the potential to significantly reduce and prevent routine gas flaring in Nigeria and can be used separately or in combination to create synergies that could lower project costs and product market risk. This article clearly identifies the environmental benefits and the technical and economic viability of infrastructure investments to recover and repurpose flare gasses along with recommendation steps to select and optimise economies of scale for an associated natural gas utilisation option. Full article

Projects that feature unconventional geothermal systems are complex and come at great investment risk and high project cost. The purpose of this work is to present a method for modelling an enhanced geothermal system (EGS) that utilizes a horizontal well-doublet setup. The proposed wells’ positioning was to minimize one of the biggest cost factors: the flow rate. As a part of the research, a case study was conducted and a fully coupled EGS model prepared, based on the data from the Utah FORGE site. The model includes a discrete fracture network (DFN) that represents hydraulic fractures and a stimulated reservoir volume (SRV) for controlling the fractures’ properties. The model’s viability was checked by a series of reservoir simulations, which provided the results for sensitivity analysis of the production parameters. Analysis of the results was conducted based on the temperature decline over an EGS system lifetime, which is one of the primary indicators for EGS. The proposed solution allowed for effectively minimising the injection and production flow rate while maintaining reasonable temperature drawdown levels. It was proven that reservoir modelling and simulation tools, used in the oil and gas industry, can be successfully applied for modelling geothermal systems. Full article

Nowadays, the Oil and Gas (O&G) industry faces significant challenges due to the relentless pressure for rationalization of project expenditure and cost reduction, the demand for greener and renewable energy solutions and the recent outbreak of the pandemic and geopolitical crises. Despite these barriers, the O&G industry still remains a key sector in the growth of world economy, requiring huge capital investments on critical megaprojects. On the other hand, the O&G projects, traditionally, experience cost overruns and delays with damaging consequences to both industry stakeholders and policy-makers. Regarding this, there is an urgent necessity for the adoption of innovative project management methods and tools facilitating the timely delivery of projects with high quality standards complying with budgetary restrictions. Certainly, the success of a project is intrinsically associated with the ability of the decision-makers to estimate, in a compelling way, the monetary resources required throughout the project’s life cycle, an activity that involves various sources of uncertainty. In this study, we focus on the critical management task of evaluating project cost performance through the development of a framework aiming at handling the inherent uncertainty of the estimation process based on well-established data-driven concepts, tools and performance metrics. The proposed framework is demonstrated through a benchmark experiment on a publicly available dataset containing information related to the construction cost of natural gas pipeline projects. The findings derived from the benchmark study showed that the applied algorithm and the adoption of a different feature scaling mechanism presented an interaction effect on the distribution of loss functions, when used as point and interval estimators of the actual cost. Regarding the evaluation of point estimators, Support Vector Regression with different feature scaling mechanisms achieved superior performances in terms of both accuracy and bias, whereas both K-Nearest Neighbors and Classification and Regression Trees variants indicated noteworthy prediction capabilities for producing narrow interval estimates that contain the actual cost value. Finally, the evaluation of the agreement between the performance rankings for the set of candidate models, when used as point and interval estimators revealed a moderate agreement ($a=0.425$). Full article

This paper presents the application of the hydraulic fracturing method in Romania, exemplified by three case studies. In the current conditions in which the oil and gas prices have risen above the limit of affordability, Romania, one of the few producers in Europe, is trying to solve the problems that have arisen through various methods, which are as follows: offshore drilling, gas underground storage, field rehabilitation and increasing the efficiency of applied technologies. The application of hydraulic fracturing is a safe process, with minimal environmental implications and certain economic benefits. The important thing is to have the necessary energy now, in the desired quantities and with minimal expenses. The authors sought to include key issues in the application of this technology in Romania. The scientific literature on this topic has helped us to interpret the data from the field in difficult situations and were a real support in our activity. We need to provide energy support and energy security and we do not have a lot of resources. Under these conditions, the reactivation of existing deposits and the extension of the production period are essential elements. The authors designed the fracturing technologies. The data corresponding to the geological structure obtained through geological investigations, and the database corresponding to the analyzed wells from the company’s data archive were the elements used in the simulation programs. Thus, the values in the fracturing area about pore fluid permeability, layers stress, Young’s modulus of the structure and fracture toughness were established. The fluids for the fracturing operation and the proppant were chosen for each case, in accordance with the geological recommendations, by our team. Testing of the fracturing technologies for different variants of the pumping program was carried out using the Fracpro program. The variants presented in this article are some of the best solutions found. We used the step-by-step flow test to find the fracture expansion pressure and closing pressure for each case. The mini-frac program established corrections to the designed technologies during the operation quickly and with reduced costs. The designed technologies allowed us to anticipate the necessary flows and pressure, leading to the choice of equipment. The fracture operations were performed only after the projected technologies anticipated the economic benefits covering the investments for the use of the equipment and the operation itself. Knowing the measured pressure of the well and the conditions of communication with the gas/oil reservoir, a simulation of the gas/oil production that could be obtained was made with the simulator. Two situations were exemplified for a gas well and an oil well. The field production results for a two-year interval are also indicated for these wells and a comparison was made with the estimated production. Full article