The valve will open at a set pressure to inject lift gas into the tubing. Oil and gas accounting learning objectives after reading this chapter, you should be able to. With such a massive industry comes a great number of interesting nuances and different jobs that can be performed. This handbook is has been compiled to give readers with an interested in the oil and gas production industry an overview of the main processes and equipment. Then we blame big oil or opec or the politicians or the local service station attendant before things quiet down again. Microsoft powerpoint overview of oil and gas industry.
Understand the secs reserve recognition accounting rra proposal. This article, oil and gas production 101 is written in nontechnical language and addresses the oil and gas production process for mineral rights owners. Oil has been used for lighting purposes for many thousands of years. Oilfield basics free video blogs, selfpaced courses. With that in mind, the fundamentals of oil and gas is a perfect primer for the firsttimer in the field, while also a copious text to help a seasoned veteran stay abreast with the nuances of the world of oil and gas. The oil and gas industry used to have a relatively low proportion of higher educated personnel, but this gap has now been closed and the industry is just as. For it to be the fuel that can go into a car or converted into plastics, it must go through a. In this module, we will learn about the nature of oil and gas, define some basic industry terms and list common units of measurement and conversion factors.
Companies in the industry develop conventional and unconventional oil and gas reserves. Reviews drilling, production, transportation, equipment usage, and operating procedures upstream, midstream, and downstream. The oil and gas industry comprises a variety of company types including the following. In areas where oil is found in shallow reservoirs, seeps of crude oil or gas may naturally develop, and some oil could simply be collected from seepage or tar ponds. The oil and gas industry natural resource governance. To view these pdf files you need the adobe acrobat reader program. Health, safety, environment are separate issues, each with its own technology, but they are often combined in. This case study is concerned only with upstream operations and some basic transportation of oil and gas by tankers to port within the oil and gas industry. Royalty management explains how to manage oil and gas royalties.
Recently i have been fortunate to be in a position to learn a lot about the basics of the oil and gas industry. The basics of natural gas production, transportation, and markets david e. Oil and other products of the well need to be tested before theyre sold, as well as to determine the effectiveness of things like chemical. By injecting gas into this oil, the specific gravity is lowered and the well will start to flow. It is an overview of the main processes and equipment. The oil and gas industry is the largest sector in the world in terms of dollar value. When you think of oil and gas in canada, you might just think of alberta, but oil and gas is an important part of our national energy mix. Today, many thousands of trained experts in several industry sectors work together to pull canadas oil and gas resources from deep reservoirs scattered under every province and territory. Oil 101 drilling fundamentals upstream oil and gas. The oil and gas industry employs hundreds of thousands of workers worldwide and generates billions of dollars globally each year. Organization of the petroleum exporting countries opec andor its member countries concerning the legal. Refining what comes out of the ground is not often a form of petroleum that can be used right away. Learn about the three key sectors in oil and gas, the current state of the industry and future outlook.
In order to drill for oil or gas a geologist or exploration department locates a geologically attractive area to explore. Natural gas vehicle basics us department of energy. In 2017, 92% of transportation fuel came from petroleum,2 while 32% of electric power and the majority of nonelectric commercialresidential energy came from natural gas. An introduction to the offshore basics the purpose of this bachelors thesis was to study the basics that ship designers should know when moving from the familiar ship design duties to the unfamiliar offshore industry. Broadly speaking, natural gas can be divided into two categories. No part of this publication may be reproduced, electronically transmitted e. Instrumentation for oil and gas complete solutions to single products. Furthermore, our free and short video blogs are a great way to learn a lot quickly. Oil 101 drilling fundamentals upstream oil and gas this oil 101 drilling fundamentals module focuses on the drilling function of upstream oil and gas. If a reservoir area underground has only gas and no oil, it is called nonassociated gas. It contributes significantly to the gross domestic product gdp of many nations and generates billions of. The multiplicity of factors that influence the directions of the petroleum production chain is huge, making the task of preparing strategies and action plans. P petroleum products include gasoline, heating oil, propane, and kerosene. The basic difference between the two is their treat.
Hydrocarbons are brought to the surface by drilling through the cap rock and into the reservoir. Petroleum migrates as a mixture of oil, gas and water. Petroleum and natural gas are the largest energy sources for the united states. Crude oil and natural gas will migrate toward the surface. Exploration the searching for potential onshore or offshore oil and gas reservoirs, and the drilling of exploratory wells. Oil and gas basics for the mineral owner article explaining the basics of oil and gas production written for mineral rights owners.
Oil and natural gas are hydrocarbons, strings of carbon and hydrogen formed from organic material compressed over millions of years. Introduction to oil and gas industry upstream midstream. However, this guide will enable one to become familiar with the basic operations and common terminology of the oil and gas industry, including brief references to royalty owners. From the economics to the science and technology, this is a complex marketplace. Oct 20, 2015 energy initiative associate in research daniel raimi gives an overview of the current state of the oil and gas industry. From a personal perspective, oil and gas provide the worlds 7. Extractive industry basics the petroleum value chain. Oil 101 a free introduction to the oil and gas industry i this first of 10 modules, we introduce the learner to some key fundamentals of the upstream segment of the oil and gas industry. Vision 2040 global scenarios for the oil and gas industry 5 how to read the study few areas of the economy are as volatile literally and figuratively as the oil and gas sector. Petroleum industry makes use of many different activities in all the sectors of the business cycle. In finland several ship design and engineering companies have also expanded their activities to the offshore field, of which only a few designers have previous. The oil and gas industry overview and trends nrgi reader april 2015 this reader is intended for use in conjunction with the natural resource charter. It is easy to say that this industry is a global powerhouse. The basics of wells how is an oil or gas well built.
This video will provide you with a general overview of the course structure, which has been designed for students and professionals who are keen to gain an understanding on hydrocarbon exploration, production and much more. Since earning his bsc and msc petroleum engineering degrees and. Mar 15, 2018 the oil and gas industry employs hundreds of thousands of workers worldwide and generates billions of dollars globally each year. Ppt introduction to oil gas industry satmon john timayo. Petroleum oil and natural gas form from tiny plants and algae that settled in seas or lakes millions of years ago. Five phases of the upstream life cycle are used as a framework to present processes in. This site will help arm you with the knowledge, tools and confidence to make smart oil and gas investment decisions. This thesis uses the term offshore to refer to oil and gas drilling only.
Increasing the flow of oil from a well by pumping hydrochloric acid into the well under high. Oil and gas basics the university of texas at dallas. Pdf fundamentals of oil and gas production engineering. This reader covers basic information about oil and gas and the industry that extracts them. Instrumentation for oil and gas complete solutions to. Dry natural gas is also known as consumergrade natural gas and this is the type of gas this series will focus on. In 1821, william harts first shale gas well near fredonia new york, struck flowing gas at 28 ft.
Covers topics like mineral rights fragmentation and estate cleanup. The thesis was carried out as an assignment of foreship ltd. To permanently plug a dry hole or well that no longer produces. Introduction to the oil and gas industry who should attend beginning specialists in the oil and gas industry oil and gas professionals who wish to obtain an integrated overview of the oil and gas industry as a whole translators who need indebt understanding of oil and gas terminology. Grasp the background and politics of standard setting for oil and gas accounting.
The oil and gas or petroleum industry is typically divided into two main sectors upstream and downstream. Vision 2040 global scenarios for the oil and gas industry 7 trends four trends were identified as determinant for the oil and gas industry when the years that separate us from 2040 are analyzed. Ekt interactive oil and gas training courses for new learners and experienced professionals. Receive your free insiders guide to investing in oil and gas wells now. One of our first videos as you can tell, but our most popular one to date.
Dec 04, 2015 oil 101 a free introduction to the oil and gas industry i this first of 10 modules, we introduce the learner to some key fundamentals of the upstream segment of the oil and gas industry. Operating companies these hold the exploration and production licences and operate production facilities. The oil and gas industry is one of americas biggest economic driving forces and currently, the u. Jan 06, 2016 introduction to oil and gas industry upstream midstream downstream 1.
A chronological history of ownership of a tract of land. Five phases of the upstream life cycle are used as a. Download it once and read it on your kindle device, pc, phones or tablets. A hole drilled in an area where at that moment there is not oil andor gas production, but the oil exploration studies state the probability of finding hydrocarbons there. These reservoirs of oil and gas are our sources for crude oil and gas. Reference is not made to all of the facets or issues of the oil and gas industry. Production and maintenance of wells and facilities. If you continue browsing the site, you agree to the use of cookies on this website. Upstream is a term used in the oil industry which refers to the searching for, the recovery and production of crude oil and natural gas. These experts also drive the innovation and implement the technology that. The other 44 percent comes from coal, nuclear and hydroelectric power, renewables like wind, solar and tidal power, and biomass products such as firewood.
Oil and services companys management apply hse policies to all levels of operations and in all sectors. Generally, oil and natural gas are both referred to as petroleum. Oil and gas pipeline fundamentals energy pipelines 68 slides 60 to 75 minutes an overview of gas and oil gathering, transmission and distribution pipelines, as well as storage. Mar 06, 2020 the oil and gas industry is the largest sector in the world in terms of dollar value. We offer multiple selfpaced online courses for anyone looking to gain a stronger understanding of our vast and complex industry. Also discussed are industry dimensions, and an introduction to customers, regulations and standards is included. Oil and gas production handbook an introduction to oil. Understanding oil and gas production for mineral owners. Short guide summarising the oil and gas industry lifecycle for a non. The united states has a vast distribution system, which can quickly and economically distribute natural gas to and from most locations in the lower 48 states. Gas leasing terminology a to z this is by no means a complete list of terms used. Take a look at some of the terms youll encounter working in the industry. Oil and natural gas industry preparedness handbook 5 the oil and natural gas industry has created the following strategy document to ensure that roles, responsibilities and needs are clearly identified prior to any events that may affect the integrity of oil and natural gas systems.
Introduction to oil and gas industry upstream midstream downstream 1. Historically, we know the tales of eternal fires where oil and gas seeps ignited and burned. Understanding the basics about the oil and gas industry. Learn more 11 modules covering key segments of the oil and gas industry. It is intended to give a basic understanding to those who aim to promote better use of revenues from oil and gas. In 1859, edwin drakes first purposedrilled oil well in near. Once the drill bit reaches the reservoir, a productive oil or gas well can be constructed and. World production of oil and gas 1900 2100 2300 2500 2700. Production and maintenance of wells and facilities to recover and bring the crude oil andor raw natural gas to the surface plant and to process the produced hydrocarbons.
In the reservoir these phases separate according to density with the most dense, water on the bottom, least dense gas on top and oil between the two. High performance computing, for certain problems, is essential. A collection to help you learn the oil and gas industry, and get up to speed on the business drivers. Oil 101 an introduction to oil and gas elearning course. A limited amount of inland oil has driven oil industry to the. Our goal is to provide a cleareyed roadmap to understanding the oil and gas industry and evaluating the opportunities and potential risks realistically. Jun 10, 2014 recently i have been fortunate to be in a position to learn a lot about the basics of the oil and gas industry. Introduction to oil and gas industry upstream midstream downstream introduction to oil and gas industry upstream midstream downstream by puput aryanto risanto rev. There are many ways to look at the oil and gas industry. Havard devold oil and gas production handbook an introduction. Take a look at some of the terms youll encounter working in the industry below. Covers the basics of petroleum, starting with industry terminology, geology, exploration, and leasing.
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