Largest oil fields in the World

It comes as no surprise that the top three largest offshore oil fields in the world are located in the Persian Gulf - two of them operated by Saudi Arabia and one by UAE. Brazil's Santos Basin and the Caspian Sea contain the other two giant oil fields. Sources profiles the largest offshore fields by estimated recoverable reserves.

Reliance Industries signs a joint study agreement with Petroleos De Venezuela, SA (PdVSA)

Reliance Industries Limited (RIL) and the Venezuelan state oil company, Petroleos de Venezuela, SA (PdVSA) have signed a Joint Study Agreement for Ayacucho Block 8 in Orinoco Oil Belt.

As per the study agreement, both the parties will jointly evaluate the development plan for Ayacucho 8.

RIL and PdVSA have also extended the term of the MOU signed between the parties last year by one year for continued cooperation.

The signing of the Joint Study Agreement for Ayacucho Block 8 and the extension of MOU marks further strengthening of the long standing relationship between RIL and PdVSA as well as between India and Venezuela.

About RIL

Reliance Industries Limited (RIL) is India’s largest private sector company on all major financial parameters with a turnover of INR 371,119 crore (US$ 68.4 billion), cash profit of INR 30,505 crore (US$ 5.6 billion) and net profit of INR 21,003 crore (US$ 3.9 billion) as of March 31, 2013.

A New Approach to Facing Rod Pump Challenges

Worldwide, there are approximately 2 million oil wells and 37.5 percent of these use rod pumps as the artificial lift method. Alternative methods such as electrical submersible pumps, gas lift systems, and progressive cavity pumps are used on 12.5 percent of the wells.

Rod pumps face many operational challenges. Some of these challenges consist of:

• Mechanical wear
• Corrosion
• Pump failures
• Inefficient pumping

The most common challenges are mechanical wear and corrosion, both of which lead to a constant battle to decrease failures and workover costs, especially as a field matures and water production increases. Corrosion and wear management are an essential part of optimizing operations. There is extensive information available in literature about traditional mechanical wear and corrosion mitigation methods. Below are some examples of the most common mitigation methods:

• Use rod guides to prevent rods and rod couplings from contacting tubing
• Install rod rotators to distribute the wear equally
• Utilize pump-off controllers so the well is not pumped off, and only actively pumped when sufficient fluid is available
• Use corrosion inhibitors to oil-wet the tubing and rods in high water cut wells to provide lubrication

A new type of rod pump, the Linear Lift System (LLS), was recently developed. The LLS aids in directly addressing inefficient pumping and mechanical wear and indirectly addresses pump failure challenges; the LLS will be the focus of this blog.

Fig-1 Traditional Rod Pump

Top stories from Offshore World for the month of September

1. BP requests US court to stop spill settlement payments
2. GE Oil & Gas unveils subsea manifold design for offshore customers
3. FMC secures $90m subsea equipment contract from Statoil
4. Chevron to pay $42m to settle Brazilian spill suits
5. Total warns Shell of corrosive drilling fluid leak at Shearwater
6. Buccaneer Energy to acquire Apache leases in Alaska

And many more have a look at Offshore World Top stories for the month of September...

http://www.offshore-technology.com/features/feature-september-stories-bp-us-court-settlement-chevron-frade-field/

GE to provide close to $600 million in turbomachinery equipment for Russia’s Yamal LNG megaproject

GE (NYSE:GE) has received a contract to provide key turbomachinery equipment for the Yamal liquefied natural gas (LNG) “megaproject” that is being developed on the Yamal Peninsula in Russia’s northern Siberia region. The LNG produced at the site will be used to help meet the growing energy needs, primarily of Asia and Pacific Region countries.

“GE is supporting some of the world’s largest LNG projects, and the Yamal LNG megaproject is an exciting example of how our deep expertise in integrated LNG technology and life cycle services is helping the Russian/CIS region secure its energy future”

The LNG megaproject is owned by JSC Yamal LNG, a joint venture between Russia’s largest independent gas producer OAO Novatek (80 percent) and France’s Total SA (20 percent). The project is being implemented in the Arctic zone of Russia, in the Yamal Peninsula, near Sabetta port. The joint venture is building a gas liquefaction facility that will have a production capacity of 16.5 million tons per year, based on the feedstock resources of the South Tambeyskoye gas condensate field. Proved and probable reserves of natural gas (PRMS) of the South Tambeyskoye field exceed 900 BCM (32 tcf).

Petroleum Engineering Professionalism and Ethics

Engineering professionalism and ethics

  
A great deal has been written about professionalism and engineering ethics. This material along with expanded examples and detailed discussions of engineers as expert witnesses appears in the book Advanced Reservoir Engineering and Management. Highly recommended reading includes “Good Ethics Makes Good Business Sense” and “Building a Best-in-Class Compliance Program.”

Inocean won the CAT I drillship design contract from Statoil

Inocean has been awarded the contract for the Concept and option for FEED for the Statoil CAT I Drillship.

The most important contract for Inocean ever, says Jon Erik Borgen, CEO of Inocean. – Being developed for arctic operations, we are probably speaking of the most advanced and sophisticated unit evolved within drilling operations. Having this opportunity to develop the drillship of tomorrow is a big recognition of our design and engineering capabilities. We also appreciate that a Norwegian designer was chosen by Statoil in a strong competition with several major international players, says Jon Erik Borgen.

The CAT I Drillship will be tailored for the Statoil Arctic Step-up program through suitable winterization, increased capabilities and a hull suitable for operations in ice infested waters.  It is designed to minimize the environmental footprint and arranged with maximum focus on HSE. The design is based on the INO-80 Drillship.