Saudi Arabia has the second largest oil reserves in the world, so it is quite logical that there are several successful oil companies in this country. One of them is Saudi Aramco or simply Aramco. With a revenue of around $380 billion and value between $2 trillion and $10 trillion, Saudi Aramco is the most valuable company in the world.
One of the reasons why this company is always on top is their investment in research and development of new oilfields. Manifa oilfield is one of these new oilfields that have proven to be a great investment.
Manifa oilfield is located on a manmade island. Thanks to modern technology, engineers and architects can create artificial islands and make the production of oil much easier and simpler. Of course, in order for such manmade island to promise a good return on investment, it must be situated in shallow waters. Otherwise, it will need a lot of material to build it. At the same time, these manmade islands guarantee the improvement of long-term reservoir recovery. In addition, oilfields built on manmade islands allow the creation of more wells, don’t have negative environmental effects and it is much safer for the workers to work on an oilfield like this.
Manifa Field (Top View)
With regards to the major catastrophic incident, BP Deep Water Macondo which happened on 20 April 2010, many companies in the oil and gas industry tend to heavily invest in extra Health, Safety and Environment (HSE) programs in order to raise the HSE awareness and standard for their employees. These non-compulsory HSE plans have been introduced into a company in different ways such as in-house initiatives and third party HSE training services. For many years, the price of oil was slightly above 100 $/bbl and the spending extra budget on safety programs was an acceptable practice across the industry. Therefore, the budget at HSE has increased dramatically over this period of time.
However, since mid-2014, the oil price has drastically dropped from about 110$/bbl to 50$/bbl as of October 2016. Most companies in the upstream business have had extremely bad effects on their incomes; they therefore have looked into ways to reduce operating expenditures without compensating their reputation, safety, reliability, and product quality and harming their people. One aspect to help corporations achieve this goal is to optimize the HSE practices.
The World’s Largest Public Oil & Gas Companies in 2016 by Forbes. This is so interesting to know that Russian companies are ranked as the first and the second biggest public oil and gas company in 2016.
Forbes’ List of the 25 Biggest Public Oil & Gas Companies
- Gazprom (GAZP, com) – Russia – 8.38 MMBoepd – EV $84.3 billion
- Rosneft (ROSN, com) – Russia – 5.07 MMBoepd – EV $72.5 billion
- ExxonMobil ( XOM, com) – USA – 4.10 MMBoepd – EV $390 billion
- PetroChina ( PTR, com) – China – 4.07 MMBoepd – EV $303 billion
- BP (BP; com) – UK – 3.24 MMBoepd – EV $121 billion
- Royal Dutch Shell (RDS.A – com) – Netherlands – 2.95 MMBoepd – EV $216 billion
- Chevron (CVX; com) – USA – 2.62 MMBoepd – EV $207 billion
- Petrobras (PBR; com) – Brazil – 2.55 MMBoepd – EV $132 billion
- Lukoil (LKOH; com) – Russia – 2.40 MMBoepd – EV $36.2 billion
- Total (TOT; com) – France – 2.35 MMBoepd – EV $136 billion
- Statoil (STO; com) – Norway – 1.81 MMBoepd – EV $63 billion
- Eni ( E; com) – Italy – 1.69 MMBoepd – EV $74 billion
- ConocoPhillips (COP; com) – USA – 1.59 MMBoepd – EV $71.5 billion
- Surgutneftegas (SGTZY; ru) – Russia – 1.49 MMBoepd – EV $8.5 billion
- CNOOC (CEO; com) – China – 1.36 MMBoepd – EV $397 billion
- China Petroleum & Chemical [Sinopec] (SNP; com) – China – 1.32 MMBoepd – EV $130 billion
- Oil and Natural Gas Corp. (ONGC; com) – India – 1.07 MMBoepd – EV $23 billion
- Anadarko Petroleum (ticker: APC; com) – USA – 840,000 Boepd – EV $43 billion
- Canadian Natural Resources (CNQ; com) – Canada – 790,000 Boepd – EV $40 billion
- Devon Energy (DVN; com) – USA – 680,000 Boepd – EV $29 billion
- Ecopetrol (EC; com) – Colombia – 670,000 Boepd – EV $33 billion
- Occidental Petroleum (OXY; com) – USA – 650,000 Boepd – EV $57 billion
- Suncor Energy (SU; com) – Canada – 580,000 Boepd – EV $50 billion
- EOG Resources (EOG; com) – USA – 570,000 Boepd – EV $47 billion
- Repsol ( REP; com) – Spain – 560,000 Boepd – EV $33 billion
Most oil well cement slurries will be added to some additives in order to modify cement properties so cement operation can be properly performed. In this article, it will cover some of important cement additives in general terms so that it will help you understand the basic function of each additive.
Accelerators are added to shorten the time for cement to properly set and it will reduce rig time while waiting on the cement (WOC). Accelerators are crucial in shallow depths where bottom temperature is low. In the deeper section, it may not require an accelerator, because the well is hot enough and the thickening time will be normal. The WOC time is generally based on the time required to obtain 500 psi compressive strength of the cement.
Chemical used as accelerators are as follows;
- Calcium chloride 1.5 – 2.0 %
- Sodium chloride 2.0 – 2.5%
- Sea water
If the percentage of these additives is high, they will act as retarders instead of accelerators. Continue reading
Coating the subsea pipeline with concrete is a technique to add downward force for stability of pipelines situated on the seabed. Figure 1 shows that the concrete coated subsea pipe line is being welded. This article will demonstrate how to calculate the thickness of concrete required in order to achieve the required net down force.
Figure 1 – The Concrete Coated Subsea Pipe Line is being Welded
Determine thickness of coated cement based on the given information below. Continue reading