oil reserves
Recently Published Documents

Coronavirus (COVID-19) has turned to be an alarm for the whole world both in terms of health and economics. It is striking the global economy and increasing the unpredictability of the financial market in several ways. Significantly, the pandemic spread stimulated the social distancing which led to the lockdown of the countries’ businesses, financial markets, and daily life events. International oil markets have accommodated the crude oil prices during the early COVID-19 period. However, after the first 50 days, Saudi Arabia has surged the market with oil, which caused a certain decrease in crude oil prices, internationally. Saudi Arabia is one of the biggest oil reserves in the world. International trade is based on oil reservoirs which in turn, have been significantly dislodged by the pandemic. Therefore, it is crucial to study the impact of COVID-19 on the international oil market. The purpose of this study is to investigate the short-term and long-term impact of COVID-19 on the international oil market. The daily crude oil price data is used to analyze the impact of daily price fluctuation over COVID-19 surveillance variables. The correlation between surveillance variables and international crude oil prices is calculated and analyzed. Consequently, the project will help in stabilizing the expected world economic crises and particularly will provide the implications for the policymakers in the oil market.

Abstract The European Union’s embargo on Indonesian crude palm oil (CPO) has resulted in excess of domestic palm oil reserves. The embargo has resulted in a build-up of domestic CPO due to the fact that the majority of Indonesia’s CPO production is exported overseas. The CPO price has dropped in recent months as a result of CPO overstock. On the other hand, as a by-product of rice production, Indonesia produces millions of tons of rice bran. The bran is treated more as waste than a resource for raw material to produce valuable products, such as bran oil. The need for lubricants in Indonesia is expected to rise as the number of cars and industries grows. As a result, some lubricant requirements must be met through importation because domestic manufacturing is insufficient. Palm oil and bran oil are both excellent candidates for conversion into biolubricants. This paper looks at the possibility of biolubricant production in Indonesia using alternate raw materials rather than petroleum-based sources. The paper begins by detailing the country’s lubricant demand, then moves on to the probable availability of biolubricant raw materials in Indonesia, and finally to the biolubricant process production method.

AbstractThis article seeks to explain the multiplication of social environmental conflicts in Mexico as a consequence of expanding and intensifying extractive activities. It examines how the Mexican state has provided private and foreign capital greater access to the country’s natural resources in the transition from state-led import-substituting industrialization to export-oriented market-led development. This, it argues, has led to accelerating material extraction rates in the context of rising global demand for primary commodities; while the negative environmental and social impacts have in turn led to a growing number of conflicts involving the inhabitants of directly affected rural communities, who organize to resist. Based on standardized procedures for material flow analysis, it presents the results of an investigation into the domestic extraction rates of minerals, metal ores, biomass, and fossil fuels from Mexico, between 1990 and 2018. It finds that domestic extraction rates increased significantly during this period, with the exception of fossil fuels, which peaked in 2006, declining thereafter due to the exhaustion of the country’s most important oil reserves. The evolution of domestic extraction rates is juxtaposed with the emergence of related social environmental conflicts by drawing on multiple databases of conflicts around extractive activities in Mexico.

The article deals with the economic attractiveness of hard-to-recover oil reserves in the Ural-Volga region development. The fuel and energy complex is a budgetforming one for oil-producing regions and contributes to the development of all sectors of the economy, and is bound by social responsibility. The current situation and trends in the global economy demonstrate that oil production intensification is a paramount task to all related industries efficiency improving, taxes being the main share in the cost structure. Therefore, in order to stimulate the reserves from low-permeability reservoirs development, tax exemptions are provided in the form of a reduced tax on mineral extraction. The paper considers an example of development efficiency improving due to tax incentives. According to the assessment results, the option with tax incentives is more beneficial for both the state and the subsoil user. Keywords: oil fields development; hard-to-recover reserves; taxation; qualified for tax relief; production intensification.

The article discusses the issue of resource base management in a complex structure of residual reserves. To increase the efficiency of the reserves development, constant monitoring of their distribution is necessary - how much they are involved, is there any potential for additional involvement, how efficient are the areas already involved in development. The paper proposes a methodological approach to the residual reserves control process organization, which allows planning and adjusting the program of reserves development. This is of particular relevance for companies that develop assets in the late stages of development, which do not have the ability to indiscriminate drilling. On the example of one of the enterprises developing assets in the Volga-Ural oil and gas province, the structuring of residual reserves was carried out, on the basis of which a strategy for increasing the reserves involvement in development was formed. To analyze the efficiency of reserves recovery in the involved areas, a reserve utilization factor based on the displacement forecast is proposed. Its implementation made it possible to identify problem areas, on the example of one of which a highly effective program for drilling horizontal wells was subsequently implemented. Keywords: oil fields development; oil reserves; resource management; reserves development; horizontal wells.

Background. The article considers the results of updating the geological model of the khamakinskii horizon reservoirs of the Chayandinskoe oid and gas field. The main aim is project the production of the oil rims and form a positive business case of the project. Materials and methods. Conceptual sedimentary model bases on the core of the 14 wells. Updating of the petrophysical model is the key to identify post-sedimentary transformations (like anhydritization and halitization) and the opportunity to correct the permeability trend. The tectonic pattern of the horizon based on the interpretation of 3D seismic data. There are two groups of faults were identified: certain and possible. Neural networks algorithm uses for a creating the predictive maps of anhydritization, which are used in the geological model. Results. Estuary sands influenced by fluvial and tidal processes dominate the khamakinskii horizon. The reservoir is irregular vertically: at the base of the horizon, there are sandstones of the delta front and there are alluvial valley with fluvial channels in the middle and upper parts. Eustary sands eroded by incised valleys (alluvial channels). According to the core and thin section analysis, the main uncertainty is sedimentary transformations of reservoir. It affects the net thickness and then the volume of oil in productive wells. 3D geological model includes the trends of anhydritization and halitization over the area, which makes it possible to obtain a more accurate production forecast. Conclusion. As part of the probability estimate of oil reserves, the main geological parameters that affect the volume of reserves were identified. Pilot project is planning to remove geological and technical uncertainties.

The Middle East, a Muslim majority region in the Asian continent, has remained a centre for territorial and extraterritorial powers to secure their strategic interests significantly to access oil reserves in the region. Israel and the United States are two examples respectively. In the wake of securing strategic interests, these states tried to interfere the polity of the Muslim states that infuriated most of the Muslim leaders to such an extent that they had to go for aggressive measures to negate the influence of these interest-seekers. Iran has been leading the Muslim states in the region and has strived hard for integrating Muslim leadership. During this process of regional integration, a special focus has been paid to deal Israel-an important strategic ally of the US in the region and permanent threat for the neighbouring Muslim states. The current circumstances, causes and effects are the product of Arab-Israel wars and most of these have been cashed in by Iran for the security of its interests in the region. Iran has facilitated the Muslim states, particularly Lebanon, to counter the Israeli strategies. It has erected Hezbollah-the party of God- in Lebanon whose effective presence has always restricted Israel from advancing to the region. Since its inception in 1985, Iranian backed Hezbollah has opposed the Israeli motives in the Middle East. Ideological similarities between Iran and Hezbollah have never allowed Israel to manipulate the region. Hezbollah has been in a war-like situation with Israel and has fought a couple of wars which have not only guaranteed a guard for Hezbollah’s campaign against Israel but also have paved the way for Iran to maintain hegemony in the region. This research has been conducted with a primary objective to analyse the Israel-Hezbollah conflict and the strategic approach of Iran towards the particular conflict.    

One of the most current challenges the Sami are facing is the rapid expansion of extractive industries throughout the Arctic region, creating obvious conflicts between states and Sámi people. European High North has already proven to be rich in mineral deposits. Furthermore, it is suggested that the world’s largest remaining untapped gas reserves and undeveloped oil reserves are located in the Arctic. Therefore, there is a growing pressure to conduct extractive industrial activities on the territories important for the Sámi, for instance on reindeer herding areas and reindeer migration routes. The expansion of extractive industrial developments causes significant challenges to the enjoyment of their human rights, unless effective procedural measures are in place to mitigate adverse impacts. The aim of this paper is to explore the possibility of integrating human rights impact assessment (HRIA) in existing license granting mechanisms, to examine how particular companies comply with human rights norms applicable to local and indigenous, and to scrutinise the possibility of these and other Northern mining companies to carry out HRIA in the future. The integration of HRIA would ensure that the special status and interests of Sámi people is properly taken into consideration when planning and implementing extractive industrial projects.

Abstract Drilling through fractured gas bearing formations to access the oil reserves underneath has been one of the most challenging tasks for the drilling Team due to the embedded risks such as; total circulation losses, Gas migration, well control issues, hole instability, cutting beds accumulation and stuck pipe. This paper explains an approach in drilling fractured gas bearing formations that was performed for the first time in offshore Abu Dhabi field-A, Pressurized Mud Cap Drilling (PMCD). Drilling through fractured Gas bearing formation causes the loss of the mud column and the consequent intrusion of hydrocarbon gas to the wellbore, thus initiating well control response, which adds to the flat time and might cause cutting slippage, stuck pipe and eventually loss of well objective. PMCD is best suited to deal with such situation, as it allows drilling to continue under the mentioned circumstances by filling the well with sacrificial fluid while the well is closed, fractures take seawater, cuttings and the formations pressure lefts the underbalanced annular fluid to reduce losses volume. Two wells were drilled successfully using the PMCD technique in Field A where the anticipated fracture gas bearing formations system was encountered shortly below the 9-5/8″ casing shoe. The performance increased substantially in the second well as lessons learnt were implemented to avoid any time loss. Drilling the 8-1/2″ Hole section started in well #2 conventionally with required 200 psi overbalance mud weight, the drilling fluid system is directly changed to sacrificial fluid (Sea water) once the fracture system is hit and total losses observed. A light Annular mud (Seawater) is pumped in the well's annulus. After having stable PMCD parameters, drilling continued at an ROP of 100-150 FPH. TQ & Drag real-time monitoring & intermittent pumping of 3 × 50 bbls weighted HVP to clean bit & BHA from cuttings were essential to avoid getting the pipe mechanically stuck. The 6,710 ft section was drilled successfully, Striped BHA Out of hole, Ran 7,160 ft of 7″ Liner, perform cement Job & achieved isolation. Comparing with offset wells drilling conventionally in field-A through the gas bearing fractured zone, PMCD saved +/− 44 days of the well time, cost and achieved the target. and greatly improved the operational safety by providing closed-loop drilling. The PMCD application on the two wells is the first of its type in offshore Abu Dhabi, it allowed accessing parts of the reservoir that have been inaccessible due to the fracture system. Additionally, it increased safety of operation & saved rig days that would have been spent in treating losses and well control operation. Pressurized Mud Cap Drilling application in field-A provides a solution for a wider implementation in developing fractured gas cap resources in future.