Advertisements

Month: August 2018

NON HYDROCARBON COMPONENTS OF CRUDE OIL

The following are the major non-hydrocarbon components of natural gas and crude oil production. (1) Sulphur Compounds. Pure Sulphur and Sulphur compounds are generally present in reservoirs and are contaminants.  The main compounds are Hydrogen Sulphide (H2S), Carbonyl Sulphide (C0S),… Read More ›

Advertisements

Hydrocarbon Field Life Cycle

ACQUISITION PHASE Sunk cost Acquisition cost EXPLORATION PHASE G&G costs (Geological & Geophysical) Number & well cost in the effort to explore potential hydrocarbon reservoir worth exploring for development and production. Timing of exploration & appraisal costs Probability of exploration… Read More ›

Hydrocarbon Production Planning & Forecasting

Definition: Production forecasting is a planning process at a time reference to generate profile for oil, gas, water &/or contaminants recoverable from well/reservoir inclusive of field constraints and opportunities for future business & operational needs. It is an end-to-end process…. Read More ›

Will Artificial Intelligence Replace Human Intuition?

Kahneman, whom widely considered as the father of behavioral economics, was asked about the growing role of artificial intelligence (AI) in business thinking: In particular, about powerful algorithms that are increasingly performing tasks previously done by accountants, consultants and managers. His response… Read More ›

%d bloggers like this: