Розвідка нафти і газу (petroleum exploration)
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Вольфганг Нахтманн
Wolfgang Nachtmann � RAG � Wien
wolfgang.nachtmann@rag-austria.at
Petroleum Exploration – 01 Overview
Розвідка нафти і газу – 01 загальний вигляд
Petroleum Exploration – 01 Overview | 2011 | 2
Petroleum Exploration – Content & Program
Розвідка нафти і газу – зміст та програма
• 01 – overview
• 02 – petroleum systems
• 03 – sedimentary basins
• 04 – sedimentary rocks
• 05 – seismic: from acquisition to prospect
• 06 – resources and reserves
• 07 – opportunity selection
• 08 – risk assessment
• 09 – petroleum contracts
• 10 – unconventionals – shale gas
Practical examples of Field Studies & Business Cases
• 01 – загальний вигляд
• 02 – Системи нафти та газу
• 03 – осадові басейни
• 04 – осадові породи
• 05 – сейсміка
• 06 – Ресурси та резерви
• 07 – вибір перспективних площей
• 08 – Оцінка ризику
• 09 – Контракти по нафті та газу
• 10 – нетрадиционные ресурсы
Practical examples of Field Studies & Business Cases
Petroleum Exploration – 01 Overview | 2011 | 3
World Consumes One Cubic Mile of Oil per Year
Світ споживає одну кубічну милю нафти за рік
1 cubic mile of oil contains as much energy as we would get from 52 new nuclear power plants working for the next 50 years
Petroleum Exploration – 01 Overview | 2011 | 4
Fossil versus or Fossil and Renewable Energy Sources?
Копалини у порівнянні або копалини та поновлювані джерела енергії
Petroleum Exploration – 01 Overview | 2011 | 5
60% of OECD Petroleum Demand For Transportation
60% попиту ОЕСР на нафту і газ для транспорту
The transportation sector accounts for 60% of OECD petroleum demand, but is likely to flatten out after years of steady growth .
“Petroleum for transportation has been the single driving force behind OECD oil demand for the past two decades,” said Aaron Brady, IHS CERA director, global oil. “After the oil crisis of the early 1980s the non-transportation sector turned to readily available substitutes like coal, gas or nuclear power. Now we are seeing the tempering of the last significant driver of oil demand in developed countries—petroleum for transportation.” Future world oil demand growth will be driven almost exclusively by emerging markets.
Petroleum based liquids consumption is projected to be flat as biofuels use grows
Petroleum Exploration – 01 Overview | 2011 | 6
Global Energy Consumption
Глобальне споживання енергії
100
80
60
40
20
0
Per
cent
age
of to
tal m
arke
t
1850 1900 1950 2000
H/C>4(Natural Gas, Hydrogen, Nuclear, Emerging)
H/C<1(Wood, Coal)
H/C~2(Oil)
U.S. Data: Annual Energy Review 1999 (EIA, 2000)World Data: International Energy Annual 1999 (EIA, 2000)
Source: SWT, DPA Luncheon, 2006
Petroleum Exploration – 01 Overview | 2011 | 7
What gets immediately reported …
• oil price
• gas(oline) price
• environmental hazards
• wars for oil
• the “Multis” in general and their profits
The Oil Industry in the Media – Are There Any Good News??
Нафтова індустрія у ЗМІ – чи є хороші новини??
22.6.2008
Gulf War 1991Burning Oil Fields
in Kuwait
Macondo Spill 2010
Petroleum Exploration – 01 Overview | 2011 | 8
Elevated Political Risk and Uncertainty
Підвищені політичний ризик та невизначенність
Shtokman
Sakhalin 2
„Putinism“
„Chavezism“Quasi-Nationalism
Nationalize the Faja
CivilUnrest
TerroristThreats754 Bbo
Kovikta
Petroleum Exploration – 01 Overview | 2011 | 9
The Oil Industry in the Media – Are There Any Good News??
Нафтова індустрія у ЗМІ – чи є хороші новини??
… but who is talking about
• huge (private) investments
• risk taking
• secured global energy supply
• safety and environmental awarness
• technological and economic drivers
Hibernia – Grand Banks, 315 km off St. John‘s, Newfoundland
BP‘s Thunder Horse Oil Platformafter Hurricane Dennis, 2005
Petroleum Exploration – 01 Overview | 2011 | 10
What is Petroleum
Що таке Петролеум
PETROLEUM A generic name for hydrocarbons, including crude oil, natural gas liquids, natural gas and their products.
Glossary of Petroleum Industry Common Terms & Symbols
Petroleum is crude oil , a naturally occurring liquid that can be distilled or refined to make fuels, lubricating oils, asphalt, and other valuable products. It is composed of many molecules of differentsizes. The word petroleum comes from the Latin petra, meaning “rock,” and oleum, meaning “oil.” Used in a broad sense, petroleum also refers to natural gas and solid asphalt, …
Petroleum Exploration – 01 Overview | 2011 | 11
History and Development of Oil
Історія та розробка нафти
Petroleum has been known throughout historical time. It was used in mortar, for coating walls and boat hulls, and as a fire weapon in defensive warfare. Native Americans used it in magic and medicine and in making paints. Pioneers bought it from the Native Americans for medicinal use and called it Seneca oil and Genesee oil. In Europe it was scooped from streams or holes in the ground, and in the early 19th century small quantities were made from shale. In 1815 several streets in Prague were lighted with petroleum lamps.
The modern petroleum industry began in 1859, when the American oil pioneer E. L. Drake drilled a producing well on Oil Creek in Pennsylvania at a place that later became Titusville. Many wells were drilled in the region. Kerosene was the chief finished product, and kerosene lamps soon replaced whale oil lamps and candles in general use. Little use other than as lamp fuel was made of petroleum until the development of the gasoline engine and its application to automobiles, trucks, tractors, and airplanes. Today the world is heavily dependent on petroleum for motive power, lubrication, fuel, dyes, drugs, and many synthetics. The widespread use of petroleum has created serious environmental problems. The great quantities that are burned as fuels generate most of the air pollution in industrialized countries, and oil spilled from tankers and offshore wells has polluted oceans and coastlines.
Petroleum Exploration – 01 Overview | 2011 | 12
Chronology of Oil
Хронологія нафти
1781 Borislav, Ukraine, first field development (hand dug shafts)
1821 Russia established mineral leasing system
1858 First oil well in Ontario, Canada (hand dug)
Trinidad – La Brea asphalt refinery
Petroleum Exploration – 01 Overview | 2011 | 13
Chronology of Oil (continued)
Хронологія нафти (продовження)
August 28, 1859 – Titusville*, Pa.
Beginning of „modern“ oil drilling
„Colonel“ Edwin L. Drake drills the firstoil well down to 69 and a half feet
* before this date some 3 to 6 bbl of oil per day were skimmed from the surface of the Oil Creek
Petroleum Exploration – 01 Overview | 2011 | 14
World Energy Demand and Economic Outlook 2007 – 2035
Світовий попит на енергію та економічна перспектива 2007-2035
From 2007 to 2035, growth in world real GDP (on a purchasing power parity basis) averages 3.2 percent per year in the reference case. In the long term, the ability to produce goods and services (the supply side) determines the growth potential of each country’s economy.
Growth potential is influenced by population growth, labor force participation rates, capital accumulation, and productivity improvements. In addition, for the developing economies, progress in building human and physical capital infrastructures, establishing credible regulatory mechanisms to govern markets, and ensuring political stability also are important determinants of medium- to long-term growth potential.
http://www.eia.doe.gov/oiaf/ieo/world.html
Published: July 2010
Petroleum Exploration – 01 Overview | 2011 | 15
Population Driven Energy Demand
Попит на енергію, в залежності від населення
Courtesy: W. Schollnberger
Petroleum Exploration – 01 Overview | 2011 | 16
Oil & Gas Provide 2/3 of Primary Energy
Нафта та газ забезпечують 2/3 первинної енергії
Oil
Gas
Nuclear
CoalHydro
China
LatinAmerica
Petroleum Exploration – 01 Overview | 2011 | 17
Value and Flexibility of Oil, Gas and Coal
Вартість та гнучкість нафти, газу та вугілля
Oil Gas Coal
Energy density GJ/m3 40 0,04 25
CO2 emissions 135 100 155
Size of burners / mobility of use
small – large mobile
(cars – power plants)
small – large immobile
(household – turbines)
Large immobile
(industrial)
Production unitised fields unitised fields independent in fields
Transport easy (ships) costly (pipeline, LNG) easy (ships)
Spare production capacity cheap cheap costly
Spare transport capacity cheap costly cheap
Place of storage production market consumption
Petroleum Exploration – 01 Overview | 2011 | 18
Oil Price
Ціна на нафту
Petroleum Exploration – 01 Overview | 2011 | 19
World Oil Price Scenarios 1990 – 2035
Сценарії розвитку світової ціни на нафту 1990 - 2035
Petroleum Exploration – 01 Overview | 2011 | 20
Crude Oil Prices Since 1861
Ціна на сиру нафту з 1861
BP Statistical Review of World Energy 2010 BP Statistical Review of World Energy 2010
Petroleum Exploration – 01 Overview | 2011 | 21
How OPEC Governed Oil Price
Як ОПЕК регулював ціну на нафту
Petroleum Exploration – 01 Overview | 2011 | 22
Oil Reserves
Резерви нафти
Oil Reserves
Petroleum Exploration – 01 Overview | 2011 | 23
From Resources to Reserves (after Jean-Noël Boulard)
Від ресурсів до резервів (після Jean-Noël Boulard)
Resources: volumes of hydrocarbons which are present in an oil or gas field, without reference to constraints as to their accessibility and/or cost
Reserves: volumes of hydrocarbons which are or will be recoverable.
Petroleum Exploration – 01 Overview | 2011 | 24
Proved Oil Reserves by End 2009
Підтверджені резерви нафти на кінець 2009
BP Statistical Review of World Energy 2010 BP Statistical Review of World Energy 2010
Total: 1,206 billion bbl (~ 165 billion tons)
Petroleum Exploration – 01 Overview | 2011 | 25
Hubbert’s Peak Oil Thesis – the Original
Ствердження Хубберта щодо піку видобутку нафти - оригінал
http://www.hubbertpeak.com/hubbert/1956/1956.pdf
Petroleum Exploration – 01 Overview | 2011 | 26
The Growing Gap Between Production and Discoveries
Зростання розбіжності між видобутком та відкритими покладами
Weatherford, Annual Report 2007
Petroleum Exploration – 01 Overview | 2011 | 27
Is the World Running Out of Oil??
Чи закінчується нафта у світі??
(When) Will the Oil Run Out?
According to published sources, the world has something like 1.258 trillion barrels of oil reserves (that is, 1012) and consumes around 81 million (106) barrels a day [data: BP 2010].
Therefore we will run out of oil in
1,258,000 / 81 = 15,530 days = ~ 42 years, which is in 2052 or thereabouts.
That's within the lifetime of most of us, so panic about a coming oil drought is entirely appropriate.
Right ?
Petroleum Exploration – 01 Overview | 2011 | 28
Oil Reserves-to-Production (R/P) Ratios
Співвідношення резервів нафти до видобутку (R/P)
BP Statistical Review of World Energy 2010 BP Statistical Review of World Energy 2010
Petroleum Exploration – 01 Overview | 2011 | 29
R/P Model
R/P модель
0
5
10
15
20
25
30
2007 2017 2027 2037 2047 2057 2067 2077 2087 2097
Wor
ld A
nnua
l Oil
Pro
duct
ion
(bln
bbl
s)
Data:� 2007 reserves 1283 bln bbls� 2007 production 29,8 bln bbls / a� R/P 41,6 years
R/P model assumptions:� Production stable at 2007 level until
reserves are fully depleted
Petroleum Exploration – 01 Overview | 2011 | 30
R/P Model and More Realistic Expectation
R/P модель та більш реалістичні очікування
0
5
10
15
20
25
30
2007 2017 2027 2037 2047 2057 2067 2077 2087 2097
Wor
ld A
nnua
l Oil
Pro
duct
ion
(bln
bbl
s)
Data:� 2007 reserves 1283 bln bbls� 2007 production 29,8 bln bbls / a� R/P 41,6 years
R/P model assumptions:� Production stable at 2007 level until
reserves are fully depleted
More realistic assumption:� Production from existing fields will
not remain stable but decline annually by 3% (low value)
� No new reserves (discoveries, extensions etc.) assumed
Petroleum Exploration – 01 Overview | 2011 | 31
R/P Key Observations
R/P – основні вихідні дані
� R/P values have no practical meaning� Only relative comparison between countries or companies
� R/P only refers to proven reserves� Realistic expectation of future producible amounts is
� proven reserves plus
� possible reserves plus
� new discoveries.
� Replenishment more important than reserves or R/P� Replenishment is possible through any combination of
� New discoveries
� Field extension
� Increased recovery rate
� Price increase
� Technology application
� Lack of replenishment has serious consequences� Significant shortage will occur very quickly (within a few years)
� Price will likely shoot up ⇒ new reserves and replenishment
Petroleum Exploration – 01 Overview | 2011 | 32
World Oil Reserves incl. Unconventional Reserves
Світові резерви нафти вкл. нетрадиційні резерви
A similar chart amended to include USGS estimates of ultimately recoverable oil reserves presents a more accurate impression of overall world oil reserves.
The "unconventional" oil reserve of South America is the Venezuelan Orinoco heavy oil belt with one to four trillion (with a "T") barrels of oil.
Petroleum Exploration – 01 Overview | 2011 | 33
Rising & Future Hot Spots for Oil & Gas Exploration
Зростання та майбутні напрямки дії, щодо розвідки нафти і газу
� the Arctic – Russia, Greenland, Canada, Alaska, Norway
� South Atlantic – West Africa (Ghana, Liberia, Mauritania, Morocco)
� Sub-Salt – Brazil, Gulf of Mexico
� Rift Areas – East Africa (Sudan, Uganda; Tanzania, Moçambique)
Petroleum Exploration – 01 Overview | 2011 | 34
One of the Future Hot Spots for Oil & Gas Search
Один з майбутніх напрямків дій, щодо пошуків нафти і газу
The U.S. Geological Survey estimates that 90 billion barrels of oil, 44 billion barrels of natural gas liquids and 1,670 trillion cubic feet of natural gas are recoverable in the frozen region north of the Arctic Circle.
And the fight over who owns those resources may turn out to be the most important territorial dispute of this century. Russia, Canada, the United States, Denmark, Norway and Iceland all have a stake in the Arctic's icy real estate.
Petroleum Exploration – 01 Overview | 2011 | 35
Proved natural gas reserves at end 2009
Підтверджені резерви нафти і газу у кінці 2009
BP Statistical Review of World Energy 2010 BP Statistical Review of World Energy 2010 Memo: 1 billion m³ Gas = 6.29 million BOE
Total: 187,5 TCM
Petroleum Exploration – 01 Overview | 2011 | 36
Natural Gas Production by Region
Видобуток природного газу по регіонам
~ 150 BCM are annually flared - this equals some 5% o f total production!!
BP Statistical Review of World Energy 2010 BP Statistical Review of World Energy 2010
Petroleum Exploration – 01 Overview | 2011 | 37
Gas Flaring – A Still Ongoing Waste of Natural Resources
Спалювання газу – все ще наявні втрати природного газу
Shell flared over 30 per cent more gas in 2010 than it did in 2009 due to what it said was “increased production in Nigeria and new activities in Iraq” (Daily Independent, April 25, 2011)
Petroleum Exploration – 01 Overview | 2011 | 38
Gas reserves-to-production (R/P) ratios
Співвідношення резервів газу до видобутку (R/P)
BP Statistical Review of World Energy 2010 BP Statistical Review of World Energy 2010
Petroleum Exploration – 01 Overview | 2011 | 39
The Impact of Upstream Technological Advances on Future Oil Supply
Вплив технологічних переваг апстрім на майбутні поставки нафти
“We are looking at more than four and a half trillion barrels of potentially recoverable oil. That number translates into 140 years of oil at current rates of consumption, or to put it another way, the world has only consumed about 18 percent of its conventional oil potential.”Mr. Abdallah S. Jum'ah, President & Chief Executive Officer,
Saudi Aramco, address to OPEC, Vienna, Austria, Sept. 13, 2006.
http://www.opec.org/home/multimedia/videos/2006/opec%20seminar/mrabdullahsjumah.htm
•1 – знайти нові нафтові родовища
•2 – збільшити витягання
•3 – знизити витрат на розвідку та видобуток
•4 – нетрадиційна нафта
•5 – навколишнє середовище
•1 – finding new oil fields
•2 – increasing recovery
•3 – reducing exploration and producing cost
•4 – unconventional oil
•5 – environment
Petroleum Exploration – 01 Overview | 2011 | 40
The Search for Oil and Gas
Пошук нафти та газу
Global Basin AnalysisGlobal Basin AnalysisPlay ConceptPlay Concept
Exploration FairwayExploration FairwayDrillable ProspectDrillable Prospect
Production Feasibility AnalysisProduction Feasibility AnalysisEnvironmental Impact Study Environmental Impact Study
Obtain LeaseObtain Lease
A Multiphase ProcessA Multiphase Process
Wildcat DrilledWildcat DrilledAppraisal WellsAppraisal Wells
Field FacilitiesField FacilitiesDevelopment WellsDevelopment Wells
Refining and MarketingRefining and Marketing
Petroleum Exploration – 01 Overview | 2011 | 41
The Petroleum Geologist – A Detective
Геолог у нафтогазовій галузі - детектив
Data SearchData SearchGravimetryGravimetry, Magnetic, Magnetic
Development andDevelopment andDistribution of RocksDistribution of Rocks
Seismic Acquisition & ProcessingSeismic Acquisition & ProcessingInterpretation & Visualization Interpretation & Visualization
Evaluation of Petroleum SystemEvaluation of Petroleum System
Project GenerationProject GenerationEstimation of PotentialEstimation of Potential
Project EconomicsProject EconomicsDrilling ProposalDrilling Proposal
““SellSell”” Project and DrillProject and Drill
Petroleum Exploration – 01 Overview | 2011 | 42
Petroleum Industry Scientists
Спеціалісти нафтогазової галузі
GeologistsGeologistsGeophysicistsGeophysicists
HydrologistsHydrologistsPetroleum EngineersPetroleum EngineersChemical EngineersChemical Engineers
Civil EngineersCivil EngineersElectrical EngineersElectrical Engineers
MathematiciansMathematiciansChemistsChemistsPhysicistsPhysicists
Both Both Research Research
and and ApplicationsApplications
Petroleum Exploration – 01 Overview | 2011 | 43
Petroleum Industry Breakthroughs
Важливі кроки нафтогазової індустрії
18831883
19001900’’ss
19141914
19241924
19301930’’ss
19601960’’ss
19701970’’ss
19801980’’ss
19901990’’ss
20002000‘‘ss
AnticlinalAnticlinal TheoryTheory
Rotary DrillingRotary Drilling
SeismographSeismograph
Well LoggingWell Logging
Offshore DrillingOffshore Drilling
Digital ComputerDigital Computer
Directional DrillingDirectional Drilling
3D Seismic3D Seismic
3D Simulation3D SimulationBasin and ReservoirBasin and ReservoirDrilling Drilling MultilateralsMultilaterals
Concept of Concept of ‘‘WhereWhere--toto--DrillDrill’’
Drill deeperDrill deeper
1D Subsurface imaging1D Subsurface imaging
Subsurface rock and fluid propertiesSubsurface rock and fluid properties
Access to new areas and basinsAccess to new areas and basins
Access to areas with surface obstaclesAccess to areas with surface obstacles
More precise subsurface imagingMore precise subsurface imaging
Predicting fluid movementPredicting fluid movement
More production per well headMore production per well head
2D Subsurface imaging & 2D Subsurface imaging & data managementdata management
JMAJMA
Petroleum Exploration – 01 Overview | 2011 | 44
E & P Creaming Curve
Р та В - Крива співвідношення успішних свердловин до усіх розвідувальних
Petroleum Exploration – 01 Overview | 2011 | 45
Continue with Chapter 02 – Petroleum Systems
Petroleum Exploration – 02 Petroleum Systems
Розвідка нафти та газу – 02 Системи нафти та газу
Monterey Fmt, Gaviota Beach, California
Вольфганг Нахтманн
Wolfgang Nachtmann � RAG � Wien
wolfgang.nachtmann@rag-austria.at
Petroleum Exploration – 02 Petroleum Systems | 2011 | 2
GEOLOGICALSITUATION
MIGRATIONRESERVOIR
TRAPSEAL
MIGRATIONPATHS
TRAPOVERTIME
SOURCEROCK
MATURITYOF SOURCE
ROCK
Petroleum System Puzzle
Паззл нафтогазової системи
Petroleum Exploration – 02 Petroleum Systems | 2011 | 3
Exploration Tools
Інструменти розвідки
• Observation• natural oil and gas shows – seeps• morphology• surface geology• rocks• structural elements
• Analogies• interpretation• mapping
• Measurements• rock samples• gravimetry• magnetic• seismic• geochemistry
• Interpretation and Experiments• modeling (seismic, reservoir, HC-system• visualization
Petroleum Exploration – 02 Petroleum Systems | 2011 | 4
E & P Cycle
Цикл розвідки та вибодутку (Р та В)
Discovery
Appraisal& Planning
Prospect-Definition
Field-Development
Reservoir
Management
Basin-Analysis,(Play) Concept(s)
Regional Geology,Data (Expl. History),
Analogies
E & P Cycle
EXPLORATION
PRODUKTION
Seismic,Gravimetry
Petroleum Exploration – 02 Petroleum Systems | 2011 | 5
E & P Cycle
Цикл розвідки та вибодутку (Р та В)
Відкриття
Аналіз & планування
Визначення
перспективи
Розробка
родовища
Пласт
Менеджмент
Аналіз басейну,(комплексу) концепція(ї)
Регіональна геологія,дані (іст. розвідка),
аналогії
E & P Цикл
РОЗВІДКА
ВИДОБУТОК
Сейсміка,гравіметрія
Petroleum Exploration – 02 Petroleum Systems | 2011 | 6
Natural Oil & Gas Seeps
Природні нафто- і газопрояви
Oil that leaks to the Earth's surface is eventually transformed from a clear fluid to a tar-like substance called asphaltum. The lighter components of the oil are lost to evaporation, and the remaining heavier oil is oxidized and degraded by bacteria until it becomes sticky and black.
http://seeps.wr.usgs.gov/seeps/what.html
What Are Oil and Gas Seeps?
Oil and gas seeps are natural springs where liquid and gaseous hydrocarbons(hydrogen-carbon compounds) leak out of the ground. Whereas freshwater springs are fed by underground pools of water, oil and gas seeps are fed by natural underground accumulations of oil and natural gas.
Petroleum Exploration – 02 Petroleum Systems | 2011 | 7
Oil Seeps versus Oil Spills – Natural or Man Made
Порівняння проявів і розливів нафти – природних або створених людиною
A drop of oil from a seep in the Gulf of Mexico bursts on the surface after rising up through 560 meters of water.
Gulf of Mexico Oil Spill Observed From the International Space Station
May 10, 2010
Petroleum Exploration – 02 Petroleum Systems | 2011 | 8
“Outcropping Oil Field” – Gaviota Beach, California
“Нафтове родовище, що вийшло на поверхню” – Гавіота Біч, Каліфорнія
Asphaltum like this from a cliff-side seep at Gaviota Beach near Santa Barbara, California, forms a hard, rolling surface that looks like old, worn pavement.
Asphaltum from this and similar seeps may have been collected by the Chumash Indians to caulk their canoes.
Asphaltum like this from a cliff-side seep at Gaviota Beach near Santa Barbara, California, forms a hard, rolling surface that looks like old, worn pavement.
Asphaltum from this and similar seeps may have been collected by the Chumash Indians to caulk their canoes.
Petroleum Exploration – 02 Petroleum Systems | 2011 | 9
Gas Seeps from the Bottom of the Black Sea
Газопрояви з дна Чорного моря
www.crimea-info.org/
Distribution of seabed seeps
Methane seepage is extremely intense on the shelf and on the slope of the Black Sea. Intense seepage areas have been identified particularly on the western and north-western shelf and slope, as well as on the northern and north-eastern slope. In some areas of the north-western shelf the density of seeps is very high.
Petroleum Exploration – 02 Petroleum Systems | 2011 | 10
Gas Seeping in the Subcrop – Chimney
Прояви газу у розрізі - трубі
A gas chimney characterized by relatively high seismic amplitudes and maintained coherency over a southern North Sea salt dome (blocks F3 and F6).
www.searchanddiscovery.com/.../thumbs/03.jpg
Petroleum Exploration – 02 Petroleum Systems | 2011 | 11
Oil Seep – Rancho La Brea Tar Pit, Los Angeles, California
Нафтопрояви – Ранчо Ля Бре Тар Піт, Лос Енджелес, Каліфорнія
The Rancho La Brea Tar Pits is one of the world's most famous fossil localities, located 5 miles west of downtown Los Angeles. Near the end of the Ice Age, about 40,000 to 10,000 years ago, sabertoothed tigers and woolly mammoths roamed the Los Angeles Basin. Some of these animals, along with countless other animals and plants, became mired in pools of natural tar - a tragic ending for many prehistoric creatures, but a boon for today's paleontologists studying the Ice Age.
Petroleum Exploration – 02 Petroleum Systems | 2011 | 12
The Petroleum System – Elements and Processes
Нафтогазова система – елементи та процеси
Petroleum Exploration – 02 Petroleum Systems | 2011 | 13
Main Questions in Hydrocarbon Exploration
Основні питання розвідки вуглеводнів
Petroleum Exploration – 02 Petroleum Systems | 2011 | 14
Petroleum System Definition
Визначення нафтогазової системи
The essential elements and processes and all genetically-related hydrocarbons that occur in petroleum shows, and accumulations whose provenance is a single pod of active source rock.
Source: JMA 2000
Source RockSource RockMigration RouteMigration RouteReservoir RockReservoir RockSeal RockSeal RockTrapTrap
ElementsElements
МатеринськаМатеринська породапорода
ШляхШлях міграціїміграції
ПластоваПластова породапорода
НепроникливаНепрониклива породапорода
ПасткаПастка
ЕлементиЕлементи
GenerationGenerationMigrationMigrationAccumulationAccumulationPreservationPreservation
ProcessesProcesses
ФормуванняФормування
МіграціяМіграція
НакопиченняНакопичення
ЗбереженняЗбереження
ПроцесиПроцеси
Petroleum Exploration – 02 Petroleum Systems | 2011 | 15
Petroleum System Elements
Елементи нафтогазової системи
24803
Source RockSource Rock
Top Seal RockTop Seal Rock
Reservoir RockReservoir Rock
Anticlinal TrapAnticlinal Tr ap
(Organic Rich)(Organic Rich)
(Impermeable)(Impermeable)
(Porous/Permeable)(Porous/Permeable)PotentialPotentialMigration RouteMigration Route
Source: JMA 2000
Petroleum Exploration – 02 Petroleum Systems | 2011 | 16
Petroleum System Processes
Процеси нафтогазової системи
Source: JMA 2000
24803
120° F120° F
350° F350° FGenerationGeneration
MigrationMigration
Seal RockSeal Rock
ReservoirRockReservoirRock
OilOil
WaterWater
Gas CapGas Cap
EntrapmentEntrapmentAccumulationAccumulation
Source RockSource Rock
Petroleum Exploration – 02 Petroleum Systems | 2011 | 17
Petroleum System Elements
Елементи нафтогазової системи
•• Source Rock Source Rock -- A rock with abundant hydrocarbonA rock with abundant hydrocarbon--prone prone organic matterorganic matter
•• Reservoir RockReservoir Rock -- A rock in which oil and gas accumulates:A rock in which oil and gas accumulates:-- Porosity Porosity -- space between rock grains in which oil space between rock grains in which oil
accumulatesaccumulates-- Permeability Permeability -- passagepassage--ways between pores through ways between pores through
which oil and gas moveswhich oil and gas moves
•• Seal RockSeal Rock -- A rock through which oil and gas cannot move A rock through which oil and gas cannot move effectively (such as mudstone and claystone)effectively (such as mudstone and claystone)
•• Migration RouteMigration Route -- Avenues in rock through which oil and gas Avenues in rock through which oil and gas moves from source rock to trapmoves from source rock to trap
•• Trap Trap -- The structural and stratigraphic configuration that The structural and stratigraphic configuration that focuses oil and gas into an accumulationfocuses oil and gas into an accumulation
Source: JMA 2000
Petroleum Exploration – 02 Petroleum Systems | 2011 | 18
Petroleum System Processes
Процеси нафтогазової системи
Source: JMA 2000
•• Generation Generation -- Burial of source rock to temperature and Burial of source rock to temperature and pressure regime sufficient to convert organic matter pressure regime sufficient to convert organic matter into hydrocarboninto hydrocarbon
•• MigrationMigration -- Movement of hydrocarbon out of the sourceMovement of hydrocarbon out of the sourcerock toward and into a traprock toward and into a trap
•• AccumulationAccumulation -- A volume of hydrocarbon migrating into a A volume of hydrocarbon migrating into a trap faster than the trap leaks resulting in an trap faster than the trap leaks resulting in an accumulationaccumulation
•• PreservationPreservation -- Hydrocarbon remains in reservoir and is Hydrocarbon remains in reservoir and is not altered by biodegradation or not altered by biodegradation or ““waterwater--washingwashing””
•• Timing Timing -- Trap forms before and during hydrocarbon Trap forms before and during hydrocarbon migratingmigrating
Petroleum Exploration – 02 Petroleum Systems | 2011 | 19
Hydrocarbon Trap Types
Типи вуглеводневої пастки
American Petroleum Institute, 1986American Petroleum Institute, 1986
Salt DomeFault
Unconformity
Pinchout
Anticline
Petroleum Exploration – 02 Petroleum Systems | 2011 | 20
Trap Types
Типи пасток
A trap is a geologic structure or a stratigraphic feature capable of retaining hydrocarbons.
Stratigraphic traps hydrocarbon traps that result from changes in rock type or pinch-outs, unconformities, or other sedimentary features such as reefs or build-ups.
Structural traps hydrocarbon traps that form in geologic structures such as folds and faults.
Combination trapany mixture of structural and stratigraphic elements.
Petroleum Exploration – 02 Petroleum Systems | 2011 | 21
Trap – a Matter of Reservoir Discontinuity Reasons
Пастка – причини уривчастості пласта
Source: McMoRan, 2010
Petroleum Exploration – 02 Petroleum Systems | 2011 | 22
Traps Related to a Salt Dome
Пастки, спричинені соляним куполом
Petroleum Exploration – 02 Petroleum Systems | 2011 | 23
HC Loss During Migration
Винесення вуглеводнів, упродовж міграції
Petroleum Exploration – 02 Petroleum Systems | 2011 | 24
Reservoir
Пласт
A subsurface body of rock having sufficient porosity and permeability to store and transmit fluids.
• sedimentary rocks are the most common reservoir rocks because they . have more porosity than most igneous and metamorphic rocks and
• they form under temperature conditions at which hydrocarbons can be preserved.
A reservoir is a critical component of a complete petroleum system.
Petroleum Exploration – 02 Petroleum Systems | 2011 | 25
Reservoir Filling – East Texas Oil Field (1930)
Заповнення пласта – нафтове родовище у Східному Техасі (1930)
• Largest “lower-48” field• More than 5 billion barrels recoverable• Largest “lower-48” field• More than 5 billion barrels recoverable
Sea LevelSea Level
1,0001,000
2,0002,000
3,0003,000
120°F
Seal
ReservoirReservoir
KitchenKitchen
Unconformity TrapUnconformity Trap
unconformityunconformity
WestWest EastEast
Seal
American Association of Petroleum Geologists, 1990American Association of Petroleum Geologists, 1990
Petroleum Exploration – 02 Petroleum Systems | 2011 | 26
Reservoir Filling – Prudhoe Bay Oil Field (1968)
Заповнення пласта – нафтове родовище у Прудо Бей (1968)
• Largest North American field • More than 8 billion barrels recoverable• Largest North American field • More than 8 billion barrels recoverable
Barrow Arch
Barrow Arch
Sea LevelSea Level
10,00010,000
20,00020,000
30,00030,000
Brooks Range
Beaufort Sea
SealReservoirReservoir
KitchenKitchen
Anticlinal TrapAnticlinal Trap
120°F
unconformityunconformity
SouthSouth NorthNorth
American Association of Petroleum Geologists, 1990American Association of Petroleum Geologists, 1990
Anticlinal/Unconformity Anticlinal/Unconformity Combination TrapCombination Trap
Petroleum Exploration – 02 Petroleum Systems | 2011 | 27
Reservoir Generated by Fractured Porosity
Пласт, утворений роздрібленою пористістю
Petroleum Exploration – 02 Petroleum Systems | 2011 | 28
Basin edge Play Concept
Middle Jr
Upper Jr
M Jr
Shiraki
SarmathMaycop
QU Jr
U Jr
25km
0---
2000---
4000---
6000---
8000---
Proposed locationKirsa Well
??
Georgia: Basin Edge Play
Грузія: комплекс басейну грані
Petroleum Exploration – 02 Petroleum Systems | 2011 | 29
Petroleum System at Critical Moment – Oil Window
Нафтогазові системи у критичний момент – головна зона нафтоутворення
OverburdenSealReservoirSource
STRATIGRAPHICSTRATIGRAPHICEXTENT OFEXTENT OF
PETROLEUM SYSTEMPETROLEUM SYSTEM
Trap Trap
Essential elements of petroleum
systemPOD OF ACTIVE SOURCE ROCK
Basement
Underburden Sed
imen
tary
basi
n-fil
l
GEOGRAPHIC EXTENT OF PETROLEUM SYSTEM250 MaTrap
Petroleum accumulationTop of oil window
Bottom of oil window
Location for burial history chart
A A’
Critical Moment = Time of Expulsion/MigrationCritical Moment = Time of Expulsion/Migration
Magoon and Dow, 1994Magoon and Dow, 1994
Petroleum Exploration – 02 Petroleum Systems | 2011 | 30
Present Day Petroleum System
Нафтогазова система на даний час
Basement
GEOGRAPHIC EXTENT OF PETROLEUM SYSTEM Present-Day
STRATIGRAPHICEXTENT OF
PETROLEUM SYSTEM
Petroleum accumulationTop of oil window
Bottom of oil window
Trap TrapTrap
Seal
Reservoir
SourceUnderburden
Overburden
A A’
Magoon and Dow, 1994Magoon and Dow, 1994
Petroleum Exploration – 02 Petroleum Systems | 2011 | 31
Burial History Chart
Графік накопичення осідання
400400 300300 200200 100100
PaleozoicPaleozoic MesozoicMesozoic Cen.Cen.
PP NNKKJJTPPMMDD PP Lith
olog
yLi
thol
ogy
RockRockUnitUnit
Dep
th (
Km
)D
epth
(K
m)
Sou
rce
Sou
rce
Res
ervo
irR
eser
voir
Sea
lS
eal
Ove
rbur
den
Ove
rbur
den
11
22
33
Placer FmPlacer Fm
George ShGeorge Sh
Boar SsBoar Ss
Deer ShDeer Sh
Elk FmElk Fm
Top gas windowTop gas window
Critical MomentCritical Moment
ThickThickFmFm
RR
Magoon and Dow, 1994Magoon and Dow, 1994
GenerationGeneration
Time of Expulsion and Migration (Trap must already exist)Time of Expulsion and Migration (Trap must already exist)
Top oil windowTop oil window
Petroleum Exploration – 02 Petroleum Systems | 2011 | 32
Thermal Maturation History
Динаміка термічної зрілості
DiagenesisDiagenesisRRoo = 0.5%= 0.5%
RRoo = 2.0%= 2.0%
CatagenesisCatagenesis
MetagenesisMetagenesis
KK44
KK33
KK22
KK11
KK
KK
Oil PhaseOil Phase --OutOut
OilOil GasGas
OilOil GasGas
OilOil GasGas
ConCondd
GasGas
GasGas
Less Hydrogen More Hydrogen
KerogenKerogen
Onset of Oil Onset of Oil GenerationGeneration
Horsfield and RullkotterHorsfield and Rullkotter, 1994, 1994
Cracking (= pyrolysis) process which results in the conversion of organic kerogens into hydrocarbons. The rate of cracking and the end products are strongly dependent on the temperature and presence of any catalysts.
Is any chemical, physical, or biological change undergone by a sediment after its initial deposition and during and after its lithification, exclusive of surface alteration (weathering) and metamorphism. These changes happen at relatively low temperatures and pressures and result in changes to the rock's original mineralogy and texture. The boundary between diagenesis and metamorphism, which occurs under conditions of higher temperature and pressure, is gradational.
Bur
ial t
o G
reat
er a
nd H
otte
r D
epth
s
Petroleum Exploration – 02 Petroleum Systems | 2011 | 33
Thermal Maturation History and its Products
Динаміка термічної зрілості та її продукт
Conversion of organic matter to petroleum occurs within a specific range of temperatures and pressures
Petroleum Exploration – 02 Petroleum Systems | 2011 | 34
Petroleum System – A Dynamic Entity
Нафтогазова система – динамічна структура
Spill PointSpill Point
Seal Rock(Mudstone)Reservoir Rock
(Sandstone)Migration from‘Kitchen’
1) Early Generation
2) Late Generation
Gas displaces all oil
Gas beginning to displace oil
Displaced oil accumulates
Petroleum Exploration – 02 Petroleum Systems | 2011 | 35
Types of Petroleum
Типи нафти і газу
Oil and gas are formed by the thermal Oil and gas are formed by the thermal cracking of organic compounds buried in cracking of organic compounds buried in finefine--grained rocks.grained rocks.
Algae = Hydrogen rich = OilAlgae = Hydrogen rich = Oil--proneprone
Source: JMA 2000
Wood = Hydrogen poor = GasWood = Hydrogen poor = Gas--proneprone
Petroleum Exploration – 02 Petroleum Systems | 2011 | 36
Natural Gas – Chemical Composition
Природний газ – хімічна композиція
The primary component of natural gas is methane (CH4), the shortest and lightest hydrocarbon molecule. It also contains heavier gaseous hydrocarbons such as ethane (C2H6), propane (C3H8) and butane (C4H10), as well as other sulphurcontaining gases, in varying amounts, see also natural gas condensate. Natural gas also contains and is the primary market source of helium.
Component wt. %
Methane (CH4) 80-95
Ethane (C2H6) 5-15
Propane (C3H8) and Butane (C4H10) < 5
Nitrogen, helium, carbon dioxide and trace amounts of hydrogen sulfide, water and odorants can also be present. Mercury is also present in small amounts in natural gas extracted from some fields. The exact composition of natural gas varies between gas fields.
http://en.wikipedia.org/wiki/Natural_gas
Natural Gas – CH4
Petroleum Exploration – 02 Petroleum Systems | 2011 | 37
„Never Say Never“ to an Exploration Area
“Ніколи не говори ніколи” щодо розвідувальної площі
New Ideas
New ToolsNew Tools
ChangedChangedEconomicsEconomics
New DiscoveriesNew Discoveriesin in ‘‘OldOld’’ AreasAreas
Petroleum Exploration – 02 Petroleum Systems | 2011 | 38
Continue with Chapter 03 – Sedimentary Basins
Petroleum Exploration – 03 Sedimentary Basins
Розвідка нафти і газу – 03 осадові басейни
Вольфганг Нахтманн
Wolfgang Nachtmann � RAG � Wien
wolfgang.nachtmann@rag-austria.at
Petroleum Exploration – 03 Sedimentary Basins | 2011 | 2
Main Types of Sedimentary Basins
Основні типи осадових басейнів
• Sedimentary basins are the subsiding areas where sediments accumulate to form stratigraphic successions
• The plate tectonic setting is the premier criterion to distinguish different types of sedimentary basins
• Rift-type Basins form at extensional plate boundaries, are associated with increased heat flow due to hot mantle plumes. They occur, for example, at continental margins.
• Foreland-type Basins form at compressional plate boundaries in front of migrating fold and thrust belts.
• Transtensional Basins occur where plates move in a strike-slip fashion relative to each other
Petroleum Exploration – 03 Sedimentary Basins | 2011 | 3
Basin Evolution
Еволюція басейну
Petroleum Exploration – 03 Sedimentary Basins | 2011 | 4
Types of Sedimentary Basins
Типи осадових басейнів
or the Vienna Basin.
Petroleum Exploration – 03 Sedimentary Basins | 2011 | 5
Types of Sedimentary Basins
Типи осадових басейнів
Petroleum Exploration – 03 Sedimentary Basins | 2011 | 6
Intracratonic Basin
Інтракратонічний басейн
Petroleum Exploration – 03 Sedimentary Basins | 2011 | 7
Intracratonic Basin – Onshore Brazil
Інтракратонічний басейн – оншор, Бразілія
Brazil’s four primary intracratonic onshore basinsare surrounded by large exposures of three major Precambrian shields (Guyanas Central Brazil, and Atlantic). © HRT Ten oil and gas accumulations have been found in the Solimões basin. Hydrocarbons
are trapped along wrench faults in Carboniferous aged sandstone reservoirs. © HRT
Onshore Opportunities in Brazil
Covering an area about half the size of Europe, Brazil's onshore basins could hold large quantities of oil and gas like their Northern Hemisphere counterparts. Yet they have remained barely explored, overshadowed by the huge successes in the offshore.
http://www.geoexpro.com/country_profile/onshorebrazil/
Petroleum Exploration – 03 Sedimentary Basins | 2011 | 8
Extensional Basins
Протяжні басейни
Extension
• Rift basins develop in continental crust and constitute the incipient extensional basin type; if the process continues it will ultimately lead to the development of an ocean basin flanked by passive margins, alternatively an intracratonic basin will form
• Rift basins consist of a graben or half-graben separated from surrounding horsts by normal faults; they can be filled with both continental and marine deposits
• Intracratonic basins develop when rifting ceases, which leads to lithospheric cooling due to reduced heat flow; they are commonly large but not very deep
Petroleum Exploration – 03 Sedimentary Basins | 2011 | 9
Rift Basins – Half Graben
Рифтовий басейн – напівграбен
Petroleum Exploration – 03 Sedimentary Basins | 2011 | 10
Rift Basins – Half Graben
Рифтовий басейн – напівграбен
Petroleum Exploration – 03 Sedimentary Basins | 2011 | 11
East African Rift Valley – Albert Graben
Східно-Африканська Долина – Альберт грабен
Tullow et al discovered > 1 billion bbl of proved oil reserves since 2005
Petroleum Exploration – 03 Sedimentary Basins | 2011 | 12
Collision
Зіткнення
Collision• Subduction is a common process at active margins where plates collide and at least one oceanic plate
is involved; several types of sedimentary basins can be formed due to subduction, including trench basins, forearc basins, backarc basins, and retroarc foreland basins
• Forearc basins form between the accretionary prism and the volcanic arc and subside entirely due to sediment loading; like trench basins, their fill depends strongly on whether they are intra-oceanic or proximal to a continent
• Backarc basins are extensional basins that may form on the overriding plate, behind the volcanic arc
• Retroarc foreland basins form as a result of lithospheric loading behind a mountainous arc under a compressionalregime; they are commonly filled with continental deposits
• Trench basins can be very deep, and the sedimentary fill depends primarily on whether they are intra-oceanic or proximal to a continent
• Accretionary prisms are ocean sediments that are scraped off the subducting plate; they sometimes form island chains
Petroleum Exploration – 03 Sedimentary Basins | 2011 | 13
Active Margin
Активна околиця
Petroleum Exploration – 03 Sedimentary Basins | 2011 | 14
Molasse Basin – Transalp Seismic Section
Басейн моласси – секція трансальп. сейсміки
N S
MunichNorth Edge of Alps near Tegernsee
75 km
Petroleum Exploration – 03 Sedimentary Basins | 2011 | 15
Molasse Basin – Geological Cross-Section
Басейн моласси – геологічний профіль
Petroleum Exploration – 03 Sedimentary Basins | 2011 | 16
Zion National Park
Continue with Chapter 04 – Sedimentary Rocks
Petroleum Exploration – 04 Sedimentary Rocks
Розвідка нафти і газу – 04 осадові породи
Zion National Park, Utah
Вольфганг Нахтманн
Wolfgang Nachtmann � RAG � Wien
wolfgang.nachtmann@rag-austria.at
Petroleum Exploration – 04 Sedimentary Rocks | 2011 | 2
Sedimentary Rocks – Clastics vs. Non Clastics
Осадові породи – порівняння теригенних і нетеригенних
Petroleum Exploration – 04 Sedimentary Rocks | 2011 | 3
Sedimentary Rocks
Осадові породи
� Clastic (siliciclastic) rocks (80-85% of the stratigraphic record)
� Carbonate sediments and rocks (10-15% of the stratigraphic record)
� Organic (carbonaceous) sediments and rocks
� Evaporites
� Volcaniclastic sediments and rocks
Petroleum Exploration – 04 Sedimentary Rocks | 2011 | 4
Environments of Clastic Deposition
Середовище теригенних відкладів
Petroleum Exploration – 04 Sedimentary Rocks | 2011 | 5
Low-Sinuosity Fluvial Systems
Річкові системи низької звивистості
Conceptual model of sandy low sinuosity stream system. Note incipient meandering & point bar.
High bedload low sinuosity channels are flanked by extensive crevasse splays that funnel sediment
onto the surrounding floodplain
Petroleum Exploration – 04 Sedimentary Rocks | 2011 | 6
Rio Negro Floodplain, Patagonia, Argentina
Ріо Негро, заплава річки, Патагонія, Аргентина
http://earthobservatory.nasa.gov/IOTD/view.php?id=42640
The Rio Negro is recognizable by astronaut crews from orbit as one of the most meandering rivers in South America. In this astronaut photograph, the entire floodplain (mostly ~10 kilometers wide) is covered with curved relicts of channels known as meander scars. Meander scars show the past positions of river bends. The Rio Negro is a dramatic example of how mobile a river can be; these meanders were produced as the river snaked across the plain in the very recent geological past , probably during the last few hundred years.
When meander scars contain water they are known as oxbow lakes.
Petroleum Exploration – 04 Sedimentary Rocks | 2011 | 7
Deltas
Дельта
Delta definition : Coastal accumulations, both subaqueous and subaerial, of river-derived sediments adjacent to, or in close proximity to, the source stream, including the deposits that have been secondarily molded by various marine agents, such as waves, currents, or tides.
Petroleum Exploration – 04 Sedimentary Rocks | 2011 | 8
False-color Image of the Larger Mississippi Delta
Штучне кольорове зображення, Міссисиппі Дельта
Petroleum Exploration – 04 Sedimentary Rocks | 2011 | 9
Mississippi Delta Lobes
Западина Міссисиппі Дельта
http://www.answers.com/topic/mississippi-delta-lobes-jpg
Petroleum Exploration – 04 Sedimentary Rocks | 2011 | 10
Meandering (Fluvial) Systems
Система звивистості (річкова)
Plan-view of the Mississippi, showing the various genetic elements such as point bars,
oxbow lakes and crevasses that together form a meandering system
10 km
Petroleum Exploration – 04 Sedimentary Rocks | 2011 | 11
A model of Subaqueous Slope Channel and Deep-Water Fan
Модель підводного похилого каналу та глибоководний конус виносу
Petroleum Exploration – 04 Sedimentary Rocks | 2011 | 12
Deep water Fan Shapes
Глибоководні конусні виноси
(SCHOLLNBERGER et al 1974)
Petroleum Exploration – 04 Sedimentary Rocks | 2011 | 13
Turbidite Slope Channels off West Africa
Турбідітові похилі канали Західної Африки
Petroleum Exploration – 04 Sedimentary Rocks | 2011 | 14
West Africa: Turbidite Reservoirs (3D View)
Західна Африка: турбідітові пласти (зображення 3D)
Petroleum Exploration – 04 Sedimentary Rocks | 2011 | 15
„Classic Eastern Carpathian hydrocarbon accumulations“
“Класичне накопичення вуглеводнів у Східних Карпатах”
Boryslav–PokuttyaZone
the Paleogenereservoirs contain almost 95% of the total recoverable hydrocarbons. These deep-marine deposits form the bodies of genetically related mass-flow and turbidity currents.
Maniava Formation (early Eocene) reservoir rock areal distribution (Picha, 2006)
Petroleum Exploration – 04 Sedimentary Rocks | 2011 | 16
Sedimentary Rocks – Classification
Осадові породи - класифікація
Petroleum Exploration – 04 Sedimentary Rocks | 2011 | 17
Sandstones
Пісковики
� Sandstones (20-25% of the stratigraphic record) can be
subdivided according to the Pettijohn classification, based on texture and composition (relative proportions of quartz, feldspar, and lithic fragments)
� Quartz arenite: quartz-dominated
� Arkosic arenite: feldspar-dominated
� Lithic arenite: dominance of lithic fragments
� Wacke: significantly matrix-supported (>15% mud)
� Quartz wacke
� Greywacke (feldspathic or lithic wacke)
Petroleum Exploration – 04 Sedimentary Rocks | 2011 | 18
Conglomerates
Конгломератні відклади
Conglomerates are consolidated gravels;
Breccias are conglomerates with dominantly angular clasts
• Clast-supported conglomerates• Matrix-supported conglomerates
Petroleum Exploration – 04 Sedimentary Rocks | 2011 | 19
Mudstone
Аргіліти
Mudstones (60% of the stratigraphic record) are also known as mudrocks or shales and commonly exhibit a distinct fissility
ClaystoneSiltstone
Petroleum Exploration – 04 Sedimentary Rocks | 2011 | 20
Mud – Sand – Gravel
Аргіліт – Пісок - Гравій
Petroleum Exploration – 04 Sedimentary Rocks | 2011 | 21
Studying Cores
Вивчення керну
Petroleum Exploration – 04 Sedimentary Rocks | 2011 | 22
Core of a Good Quality Reservoir Rock
Керн породи якісного пласту
Petroleum Exploration – 04 Sedimentary Rocks | 2011 | 23
Sandstone Reservoir – Good Porosity
Пласт пісковика – добра пористість
Good Porosity = plenty of space for Gas/OilGood Porosity = plenty of space for Gas/Oil
PoreSpace
Petroleum Exploration – 04 Sedimentary Rocks | 2011 | 24
Sandstone Reservoir – No Porosity
Пласт пісковика – ніякої пористості
Pore space filled with CalcitePore space filled with Calcite--cementcement
= no room for oil/gas= no room for oil/gas
Petroleum Exploration – 04 Sedimentary Rocks | 2011 | 25Crimea, Ukraine
Carbonate Rocks
Карбонатні породи
� Carbonate sediments and rocks
� Carbonate sand usually consists either of (fragmented) skeletal remains or non-skeletal grains. Biogenic carbonate formation occurs by a wide range of organisms (e.g., molluscs, corals, forams, algae, bacteria, and many others)
� Most organisms initially form unconsolidated carbonate sediments
� Coral reefs and microbial mats (e.g., stromatolites) are examples of more solid carbonate structures
� Carbonate mud (micrite) is commonly the product either of chemical precipitation or algal/bacterial activity. Chemical precipitation produces non-skeletal carbonate grains of various sizes (e.g., ooids, pisoids, micrite)
� Dunham classification of carbonate rocks:
� Texturally-based subdivision (cf. clastics): mudstone, wackestone, packstone, grainstone, rudstone
� Organically bound framework during formation: boundstone
Petroleum Exploration – 04 Sedimentary Rocks | 2011 | 26
Tropical Carbonate Platforms: Facies Belts
Тропічні карбонатні платформи: фаціальні зони
Petroleum Exploration – 04 Sedimentary Rocks | 2011 | 27Eocene, Crimea, Ukraine
Carbonates – Depositional Texture
Карбонати – літологічна структура
Petroleum Exploration – 04 Sedimentary Rocks | 2011 | 28
Carbonate Building Micro-Organisms
Мікроорганізми, утворюючі карбонати
Petroleum Exploration – 04 Sedimentary Rocks | 2011 | 29
Ooids – Onkoids
Ооїди - онкоїди
Petroleum Exploration – 04 Sedimentary Rocks | 2011 | 30
Fractured Carbonate Rock
Роздроблена карбонатна порода
Cretaceous, Georgia
Petroleum Exploration – 04 Sedimentary Rocks | 2011 | 31
Evaporites
Евапорити
� Evaporites
� Dissolved salts precipitate out of sea water due to concentration (brine formation) during evaporation (1 km of sea water --> 12 m of evaporites)
� Evaporites commonly lithify into consolidated rocks upon formation
� Least soluble compounds precipitate first:
� CaCO3 (calcium carbonate)
� CaSO4 (calcium sulphate: gypsum or anhydrite)
� NaCl (halite: rock salt)
� Other, less stable (highly soluble) chlorides
Petroleum Exploration – 04 Sedimentary Rocks | 2011 | 32
Marine Evaporites
Морські евапорити
Petroleum Exploration – 04 Sedimentary Rocks | 2011 | 33
Marine Evaporites – Death Valley, California
Морські евапорити – Долина смерті, Каліфорнія
Death Valley, California
Petroleum Exploration – 04 Sedimentary Rocks | 2011 | 34
Volcaniclastic Sediments
Вулканокластичні відклади
� Volcaniclastic sediments and rocks
� Lava (cooled magma flows) produces volcaniclastic sediment upon weathering
� Pyroclastic material or tephra (ejected particulate material) can be subdivided into different compositional categories:
� Mineral grains
� Lithic fragments
� Vitric material (volcanic glass or pumice)
Petroleum Exploration – 04 Sedimentary Rocks | 2011 | 35
Volcaniclastic Sediments
Вулканокластичні відклади
Petroleum Exploration – 04 Sedimentary Rocks | 2011 | 36
Volcaniclastic Sediment Example
Приклад вулканокластичних відкладів
Fractured volcanoclastic sediment with tar (Tertiary, Georgia)
Petroleum Exploration – 04 Sedimentary Rocks | 2011 | 37
Reservoir Quality of Sandstone
Пластова якість пісковика
uartz
eldspar ithic Grains
Petroleum Exploration – 04 Sedimentary Rocks | 2011 | 38
Continue with Chapter 05 – Seismic
Petroleum Exploration – 05 Seismic 1/2 (Acquisition)
Розвідка нафти і газу – 05 сейсміка 1/2 (виміри)
Вольфганг Нахтманн
Wolfgang Nachtmann � RAG � Wien
wolfgang.nachtmann@rag-austria.at
Petroleum Exploration – 05 Seismic | 2011 | 2
Introduction – Geophysical Methods
- Gravity (reconnaissance tool)- Magnetics - “ -- Radar (10m?) (details)- Geo-Electric - “ -
- SEISMIC- wave theory- refraction- reflection2D / 3D
Petroleum Exploration – 05 Seismic | 2011 | 3
Scheme – Seismic Acquisition to Interpretation
Схема – сейсміка від вимірів до інтерпретації
Petroleum Exploration – 05 Seismic | 2011 | 4
The Challenge
Виклик
?
Petroleum Exploration – 05 Seismic | 2011 | 5
One Possibility ……
Одна можливість .....
Petroleum Exploration – 05 Seismic | 2011 | 6
…….Or .....Або
(2D)Reflexion Seismic
Petroleum Handbook 1948 (Shell)
Petroleum Exploration – 05 Seismic | 2011 | 7
Seismic Acquisition – Physical Principles
Сейсмічні виміри – фізичні принципи
Petroleum Exploration – 05 Seismic | 2011 | 8
Equipment for Acquisition
Обладнання для вимірів
Petroleum Exploration – 05 Seismic | 2011 | 9
3D Seismic Acquisition – Registration Truck
3D сейсмічні виміри – реєстраційна вантажівка
Petroleum Exploration – 05 Seismic | 2011 | 10
Seismic Sources
Сейсмічні джерела
explosives
vibrators as energy source
Petroleum Exploration – 05 Seismic | 2011 | 11
2D or 3D Reflection Seismic – Planning (1)
2D або 3D метод відбитих хвиль – планування (1)
Area / Surface / Restrictions
Geology / Subsurface / Data = Logs, Seismic Data
Targets: depth of target horizonsstructure/areal extension/diphorizontal resolution = structure detailsvertical resolution = thickness of horizonsexpected quality of seismic data
Petroleum Exploration – 05 Seismic | 2011 | 12
Limits and Uncertainties for Seismic Activities in Austria
Обмеженості та невизначеність сейсміки в Австрії
Access� Due to forests, agricultural activities, growing villages and
infrastructure distances to energy sources get often reduced which cause unwanted modifications of acquisition patterns and partially lower coverage
Environmental conditions� Snow and ice in winter
� Continuous agricultural activities from March through October
� Hunting seasons
Surface and near surface geology � Glacial sediments (gravels) and valley fills (lacustrine clays) have an
influence on strength and transmission of acoustic signals – only solved by work intensive static correction before and during data processing
Petroleum Exploration – 05 Seismic | 2011 | 13
Seismic Acquisition – Procedures & Involved Parties
Сейсмічні виміри – порядок та залучені сторони
Stakeholders� Ordering company
� Seismic contractor
� Authorities (mining, water, environment, local)
� Abutting owners, land owners
Procedure� Selection of acquisition area (incl. estimation of potential, economics)
� Specification of technical parameters
� Bidding process: EU wide announcement, evaluation, negotiations,awarding
� Public hearing and negotiation – official notification (mining authority)
� Mobilisation of seismic crew – technical and HSE audit
� Notification of land owners, communities etc.
� Surveying
� Acquisition
� Reimbursement for damages
� Demobilisation of seismic crew
� Delivery of raw data to processing
Petroleum Exploration – 05 Seismic | 2011 | 14
Surveying with Digital Topography by Laser Scanning
Дослідження з дігітальною топографією лазерним скануванням
Digitale GeländehöhenNussdorf 3D (70 km2)
400 - 800 m NN
Petroleum Exploration – 05 Seismic | 2011 | 15
3D Reflection Seismic – Planning (2)
3D метод відбитих хвиль – планування (2)
Technical Issues
- energy source (explosives vs. vibrators)- geophone array- horizontal resolution (bin size) – 5 m to 25 m)- vertical resolution (sample rate – ½ to 2 msec)- data quality: subsurface coverage (10 to 48?times)
Economic Issues- cost estimate / economics- project specification / tender
- selection of contractor – based on cost, quality,
equipment, experience, reputation
Petroleum Exploration – 05 Seismic | 2011 | 16
2D Acquisition Scheme
2D схема проведення виміру
Anregung:Pattern String
Bis zu 10,000 Kanäle
Geophon
�
MesswagenStationsinterval
12 - 25 mKabel
1 - 3 km lang
Energie-quelle
Petroleum Exploration – 05 Seismic | 2011 | 17
2D Seismic – Single Shot Record
2D сейсміка – однократна сейсмограма
Offset (m)
2-Way Travel TimeReflection
Time(msec)
1000
0
Receiver Source
Offset���� ���� ���� ���� ������������ ���� ���� ��������
���� ���� ���� ����
Time(msec)
Offset (m)
Petroleum Exploration – 05 Seismic | 2011 | 18
Seismic Data Processing
Обробка сейсмічних даних
„Shot Points“
„Stacked Line“
Final „migrated“ Time-Seismic
Petroleum Exploration – 05 Seismic | 2011 | 19
3D Acquisition Principle
3D принцип проведення вимірів
Vibrator sourceReceivers
(NAM drawing)
Petroleum Exploration – 05 Seismic | 2011 | 20
3D Seismic – Ideal Pattern of Inlines and X-lines
3D сейсмика – ідеальна модель вертикальних та горизонтальних ліній
Orthogonal acquisition
scheme
vibrator lines
rece
iver
line
s
Petroleum Exploration – 05 Seismic | 2011 | 21
3D Seismic – Subsurface Coverage Model
3D сейсміка – модель перекриття границі у геол. розрізі
Petroleum Exploration – 05 Seismic | 2011 | 22
HSE Considerations During Seismic Acquisition
Охорона праці та навк. середовища під час сейсмічних вимірів
� Moving site
� Consistent outside impact by environment and weather
� High power of concentration needed (traffic, terrain)
� Healthy and physically fit people needed
� Choice of right people for respective work
� Well rested, don‘t start work with any residual alcohol from previous night
� Personnel turnover due to rotation
� Group dynamic processes with international character
Petroleum Exploration – 05 Seismic | 2011 | 23
Continue with Chapter 06 Part 2 – Interpretation
Petroleum Exploration – 05 Seismic 2/2 (Interpretation)
Розвідка нафти і газу – 05 сейсміка 2/2 (Інтерпретація)
Вольфганг Нахтманн
Wolfgang Nachtmann � RAG � Wien
wolfgang.nachtmann@rag-austria.at
Petroleum Exploration – 05 Seismic | 2011 | 2
Scales of (Seismic) Resolution
Масштаб (сейсмічної) роздільної здатності
γ-ray ρv Well reflectivity seismic
Outcrop: detailed but limited extentWells: detailed vertically but limited laterallySeismic: limited vertically but unlimited laterally
Petroleum Exploration – 05 Seismic | 2011 | 3
Seismic Resolution (1)
Сейсмічна роздільна здатність (1)
... m ?
Petroleum Exploration – 05 Seismic | 2011 | 4
Seismic Resolution (2)
Сейсмічна роздільна здатність (2)
� Frequencies
� 8-50Hz
� Velocities
� 1500m/s water
� 4500 m/s salt
77m
frequency
velocity• wavelength =
• f=35Hz, v=2700m/s
Petroleum Exploration – 05 Seismic | 2011 | 5
Interpretation – General
Інтерпретація – загальна інформація
� Interpretation
� General
� Regional
� Prospect
� Special
Petroleum Exploration – 05 Seismic | 2011 | 6
Interpretation Set-Up
Порядок інтерпретації
� What do you get to work with …
� Hardware
� PC
� Workstation Dual Screen (PC)
� Network Storage, Visualization Room
� Software
� Geoframe Interpretation System (Schlumberger Geoquest), Petrel; Kingdom
� Geostatistics, Petrophysics, Inversion
� Database
� FINDER, RECALL (Schlumberger, Geoquest)
Petroleum Exploration – 05 Seismic | 2011 | 7
Work Flow (1)
Послідовність робіт (1)
� Way to go …
� Geoframe PETREL survey
� Inlines, crosslines, slices, random lines
� Geoviz
� Well data:
� Sonic & density logs, synthetics, markers
� Regional interpretation (Geoframe, PETREL, Kingdom)
� (Auto-)tracking
• Horizons in selected areas
• Gridded Time maps
• Seismic attributes (amplitude, dip, etc.)
• Depth map conversion using smoothed well information (Vel/Depth)
Petroleum Exploration – 05 Seismic | 2011 | 8
Interpretation Basics
Основи інтерпретації
Mapping of horizons (structure)
Mapping of faults
Stratigraphy
Auto tracking
Petroleum Exploration – 05 Seismic | 2011 | 9
3D Visualization at Work Station
3D Візуалізація на робочій станції
Petroleum Exploration – 05 Seismic | 2011 | 10
3D Visualization Room
3D кімната візуалізації
Petroleum Exploration – 05 Seismic | 2011 | 11
3D Data Cubes
3D масив даних
Petroleum Exploration – 05 Seismic | 2011 | 12
3D Visualization
3D Візуалізація
Petroleum Exploration – 05 Seismic | 2011 | 13
Interpretation Work Flow (2)
Послідовність інтерпретації (2)
� A Lead/Prospect has been identified:
� Log correlation
� Seismic and geologic analogs
� Risking:
• Structure/Trap (Sealing), Reservoir, Source, Timing
� Extensive documentation
� Prospect presentation:
� In-house peer review
� External technical experts review
� Management
� Time frame:
� 3-6 months
Petroleum Exploration – 05 Seismic | 2011 | 14
Interpretation – Regional
Інтерпретація - регіонально
� Interpretation
� General
� Regional
� Prospect
� Special
Petroleum Exploration – 05 Seismic | 2011 | 15
Geology
Геологія
� General structure and trap style:
� largely structural-stratigraphic for gas
� mostly structural (faults) for oil
� Source:
� biogenic for gas
� Eocene Lattdorf shales for oil
� Reservoir:
� sandstone (lacustrine, turbidite)
� seal rock:
� shale
� hydrocarbon type:
� gas (main target)
� oil (secondary)
Petroleum Exploration – 05 Seismic | 2011 | 16
Interpretation – Austrian Molasse
Інтерпретація – австрійська моласса
Petroleum Exploration – 05 Seismic | 2011 | 17
Austrian Molasse – Geological N – S Cross Section
Австрійська моласса – геологічна N – S перехресна секція
Length of cross-section about 80 km
Molasse Sediment BasinImbricated
Molasse
FlyschOverthrust
Target Areas
Petroleum Exploration – 05 Seismic | 2011 | 18
Stratigraphy
Стратиграфія
Target 1
Target 2
Petroleum Exploration – 05 Seismic | 2011 | 19
Regional 3D Survey – Merged from Several Surveys
Регіональні дослідження 3D – об‘єднано з декількох досліджень
Comprehensive database consists of over 4000 km2 of 3-D seismic and multi-vintage 2D seismic in remaining areas
Some 1000 wells drilled so far
Linz
Petroleum Exploration – 05 Seismic | 2011 | 20
Upper Puchkirchen Channel (Detail)
Канал Верхнього Пухкірхена (деталі)
RMS RMS
semblasembla
ncencePuchkirchen A1 channel (Base Hall +20 to +60 ms)
Puchkirchen A1 channel (Base Hall +20 to +60 ms) Puchkirchen Channel Belt
Olistoliths in channel
RMS RMS amplitudeamplitude
Petroleum Exploration – 05 Seismic | 2011 | 21
Upper Puchkirchen Channel (Overview)
Канал Верхнього Пухкірхена (загальний вигляд)
108 km S
N
Petroleum Exploration – 05 Seismic | 2011 | 22
Puchkirchen Channel Belt – Regional View
Пояс каналу Пухкірхена – регіональний вигляд
Lower FreshwaterMolasse Delta
ChattShelf Sands
LINZ
MÜNCHEN
PuchkirchenBasin
SALZBURG
INNSBRUCK
Northern Northern CalcareousCalcareous AlpsAlps
FlyschFlysch + + HelveticHelvetic
Modified after Linzer (2001)
BohemianBohemian MassifMassif
Puchkirchen Channel Belt
Inn ValleyInn Valley
Petroleum Exploration – 05 Seismic | 2011 | 23
Puchkirchen Channel Belt – Close-Ups
Пояс каналу Пухкірхена – крупний план
• Deep-water channel
belt, parallel to
basin axis
• Architectural
elements similar
to fluvial systems
in many respects
• Confined, narrow
foredeep strongly
effects depositional
architecture
• Channel migration
controls reservoir
distribution
Petroleum Exploration – 05 Seismic | 2011 | 24
Vöcklamarkt Seismic Profile
Сейсмічний профіль Фьокламаркт
channel
crevassesplay
megaslide
accretionarylevee
Composite unconformities
Petroleum Exploration – 05 Seismic | 2011 | 25
Vöcklamarkt Geological Profile
Геологічний профіль Фьокламаркт
A1
A2
A4
A3
C1
C2
BHS
megaslide
channel-levee correlation
Petroleum Exploration – 05 Seismic | 2011 | 26
Well to Outcrop – Geological Analog
Свердловина, оголення – геоглогічний аналог
Well 1
?
Field Analog
Petroleum Exploration – 05 Seismic | 2011 | 27
Interpretation – Prospect
Інтерпретація - перспективна зона
� Interpretation
� General
� Regional
� Prospect
� Special
Petroleum Exploration – 05 Seismic | 2011 | 28
Prospect Ursprung – Inline
Лінії початку зон - Inline
HATGR A 1 Reflector
Top HBS
Imbricates
1 Km
Petroleum Exploration – 05 Seismic | 2011 | 29
Prospect Ursprung – X-LineЛінії початку зон - X-Line
Petroleum Exploration – 05 Seismic | 2011 | 30
Prospect Ursprung – Analog from Literature
Перспективні зони – аналог з літератури
PuchkirchenA1 sand
Ursprung lead
M. De Ruig, Sept 2003
Petroleum Exploration – 05 Seismic | 2011 | 31
Prospect Ursprung – Logs
Перспективні зони - каротаж
J. Eder, Sept 2003
Petroleum Exploration – 05 Seismic | 2011 | 32
Prospect Ursprung – Summary Before Drilling
Перспективні зони – короткий звіт перед бурінням
• Objective : Stratigraphic trap in Upper Puchkirchen A1 channelPettenbach 3D survey , Lindach area
• Primary target: Upper Puchkirchen Formation (A1)area: 300 ha Sw: 33 %
net: 6 m RF: 80 % por: 18 % P i: 100 bar
• General Well Data : TD: 1100 m (MD)Top main target: 1000 m (MD)Elevation : 445 m
• Scope for Recovery: MSV: 185 MMcbmUpside: 244 MMcbmRisked SFR: 61 MMcbmPOS: 33 %
• Key Risks: Reservoir presence, seal
J. Eder, Sept 2003
(Water Saturation )(Recovery Factor )
(Mean Success Volume, 50%-value)
( 85%-value)
( Probabilty of Success)
(SFR = „Resources“)
(Target Depth)
( MSV*POS)
Petroleum Exploration – 05 Seismic | 2011 | 33
Prospect Ursprung – Drilling Proposal
Перспективні зони – пропозиції щодо буріння
Petroleum Exploration – 05 Seismic | 2011 | 34
Interpretation – Special
Інтерпретація - особливості
� Interpretation
� General
� Regional
� Prospect
� Special
Geophones, Sercel web site, 2002
Petroleum Exploration – 05 Seismic | 2011 | 35
3D Reprocessing Comparison
3D Порівняння повторної обробки
Location 1 Location 1
Main Target Main Target
Original Seismic Reprocessed Seismic
Perwang 1 Perwang 1
Petroleum Exploration – 05 Seismic | 2011 | 36
Time vs. Pre-Stack Time Migration
Порівняння міграції у часовій області з тимчасовим перетворенням допідсумовування
Time Depth
SaltPull-up
Petroleum Exploration – 05 Seismic | 2011 | 37
Acoustic Inversion – Reservoir Definition
Обертання для хвилевого рівняння акустичних хвиль – визначення пласта
Top Eocene
Base Rupel
Base UPF
Base A1
Base Hall
3D Seismic Data(12 km²)
N S
Petroleum Exploration – 05 Seismic | 2011 | 38
Acoustic Inversion – Well to Seismic Tie
Обертання для хвилевого рівняння акустичних хвиль - прив'язка свердловинних данихдо даних сейсморозвідки
Wavelet
Seismic,Horizons,Well Tops,
Synthetic,Original inverted
full stack Impedance
P-Sonic Log,P-Impedance Log,
Lithofacies Classification
Petroleum Exploration – 05 Seismic | 2011 | 39
Acoustic Inversion – Result
Обертання для хвилевого рівняння акустичних хвиль - результат
N S
PuchkirchenReservoir Interval
Petroleum Exploration – 05 Seismic | 2011 | 40
Geostatistics – Facies Modelling
Геостатистика – моделювання фацій
Sediment source from the imbricates
Imbricateedge
Improving reservoir quality
Weiss-001Similar shape to the
‘classic’ slope deposit
After Walker, 1978
Attribute classification
Petroleum Exploration – 05 Seismic | 2011 | 41
Patos Marinza Heavy Oil Field, Albania
Time For A Break
Час перерви
Continue with Chapter 06 – Resources & Reserves
Petroleum Exploration – 06 Resources & Reserves
Розвідка нафти і газу – 06 Ресурси та резерви
Patos Marinza Heavy Oil Field, Albania
Вольфганг Нахтманн
Wolfgang Nachtmann � RAG � Wien
wolfgang.nachtmann@rag-austria.at
Oil & Gas Production Geology – 06 Reserves Assessment | 2011 | 2
The resource triangle
Трикутник ресурсів
Conventional Conventional ReservoirsReservoirsSmall volumeseasy to develop
UnUnconventionalconventionalReservoirsReservoirs
Large volumesdifficult to develop
MostlyConventional
Reservoirs
New Technology Needed
From: Devon Modified from USGS and Simmons & Company International
Unconventional oil provides a large resource basehigh cost and technology employment
UnconventionalReservoirs
includes gas hydrates and the poorest quality resources
Commercial in future with current technology and price expectations
CBM, tight gas sands, shales
Moving cutoff – based on
risked resource price
INC
RE
ASI
NG
CO
ST O
F EX
TRA
CTI
ON
INC
RE
ASI
NG
CO
ST O
F EX
TRA
CTI
ON
HIG
HER
QU
ALITY R
ESOU
RC
E
Oil & Gas Production Geology – 06 Reserves Assessment | 2011 | 3
The resource triangle
Трикутник ресурсів
ТрадиційнийТрадиційнийколекторколекторМалі обсягиЛегка розробка
НеНетрадиційнітрадиційні
колекториколекториВеликі обсяги
Складна розробка
В основномутрадиційніколектори
Потреба у новій технології
From: Devon Modified from USGS and Simmons & Company International
Нетрадиційна нафта забезпечує велику ресурсну базу, високі витрати та залучення технологій
Нетрадиційніколектори
включає газогідрад та ресурсинизької якості
Промисл. у майбутньому зактуальною технологією таціновими очікуваннями
Метан вуг. пластів, непроникливі газові піски,
сланці
Переміщення– в умовахризику ресурсної ціни
ПІДВИЩЕННІ
ПІДВИЩЕННІ ВИТРАТИ
ВИТРАТИНА
НАВИТЯГАННЯ
ВИТЯГАННЯ
РЕСУРСИПІДВИЩЕННОЇ ЯКО
СТІ
Oil & Gas Production Geology – 06 Reserves Assessment | 2011 | 4
How Much Petroleum Is Undiscovered?
Скільки невідкритих нафти та газу є в наявності?
Nobody knows or can know how much oil exists under t he earth's surface or how much it will be possible to produce in the future
All numbers are, at best, informed estimates. Within the broad concept of oil 'reserves' there are several key distinctions:
• ultimately recoverable resource, • proved, • probable and • possible reserves and oil in place .
Oil & Gas Production Geology – 06 Reserves Assessment | 2011 | 5
Reserves versus Resources – the BIG Difference
Резерви та ресурси – ВЕЛИКА різниця
Resources are always much higher than Reserves.
In a classification of geological resources (mineral commodities, coal, oil, gas) we usually differentiate between reserves that can be produced economically today with existing technology and at given prices, and potential respectively prospective resources which can only be produced with improved technologies and at higher prices in the future.
Oil & Gas Production Geology – 06 Reserves Assessment | 2011 | 6
Resources Classification System
Система класифікації ресурсів
Oil & Gas Production Geology – 06 Reserves Assessment | 2011 | 7
Resources Classification System 1/2
Система класифікації ресурсів 1/2
Oil & Gas Production Geology – 06 Reserves Assessment | 2011 | 8
Resources Classification System 2/2
Система класифікації ресурсів 2/2
Oil & Gas Production Geology – 06 Reserves Assessment | 2011 | 9
Gas in Place (GIIP) and Ultimate Recovery (UR)
Геологічні запаси та максимальне витягання
GIIP = A x h x Ф x (1 – Sw) x Bgi
GIIP gas initially in place (m³)
A area (m²)h net pay (m)Ф porosity (%)Sw water saturation (%)Bgi formation volume factor
UR ultimate recovery (m³)
RF recovery factor (%)
UR = GIIP x RF
Reserves = UR - Production
Oil & Gas Production Geology – 06 Reserves Assessment | 2011 | 10
Petroleum Reserves
Нафтогазові резерви
� Estimated Volumes of:� Crude Oil
� Condensate (C5+)
� Natural Gas
� Liquefied Petroleum Gas (LPG: C2, C3, C4)� Natural Gas Liquids (NGL) = LPG + Condensate
� Associated Substances (e.g. Sulfur)
Oil & Gas Production Geology – 06 Reserves Assessment | 2011 | 11
Nature of Oil and Gas Reserves Estimates
Природа оцінки резервів нафти та газу
� Reserves estimation is an inexact science
� Reserves are estimated under conditions of uncertainty
� Data from fields or reservoirs is often incomplete
� Background and experience are necessary to accurately assess reserves
� Characteristics of Petroleum Reserves� May be attributed to natural reservoir energy
� May be attributed to improved recovery methods
� Pressure Maintenance
� Cycling
� Water flooding
� Thermal Methods
Oil & Gas Production Geology – 06 Reserves Assessment | 2011 | 12
Characteristics of Petroleum Reserves
Параметри нафтогазових резервів
� Anticipated to be commercially recoverable
� From known geologic accumulations
� From a given date forward (producible in the future)
� Under existing economic conditions
� Established operating practices
� Under current government regulations
Oil & Gas Production Geology – 06 Reserves Assessment | 2011 | 13
Fundamental Basis of Reserves Estimates
Основи оцінки резервів
� Oil and gas reserves are based on interpretation of geologic and engineering data available at the time of the estimate
� Time of the estimate – „as of date“
Oil & Gas Production Geology – 06 Reserves Assessment | 2011 | 14
Reserves Definitions Through Time
Визначення резервів у різні часи
� 1936-1964 : American Petroleum Institute (API)
� 1939-present: DeGolyer and MacNaughton
� 1964-1980: Society of Petroleum Engineers (SPE)
� 1934-1982: U.S. Security and Exchange Commision/FASB (Financial Acounting Standards Board)
� 1981-1997: SPE Revised Definitions
� 1983: World Petroleum Congress (WPC)
� 1997: SPE/WPC Joint Definitions
Oil & Gas Production Geology – 06 Reserves Assessment | 2011 | 15
Reserves Classification Terms
Умови класифікації резервів
� Proved� „Very Likely“ – reserves exhibiting a low degree of
uncertainty (~ 90 % confidence level)
� Probable� „Likely“ – reserves exhibiting low to moderate degree of
uncertainty
� Possible
� Potential – reserves exhibiting moderate to high degree of uncertainty
Oil & Gas Production Geology – 06 Reserves Assessment | 2011 | 16
Why are Reserves Important?
Чому резерви важливі?
� Proved� Generally only category reportable to regulatory agencies
� Generally only category used by lenders
� Probable
� Combined with proved, often the basis for field development plans and commitments (Business Planning!)
� Possible
� Identifies upside potential and areas for further investigation and data collection.
Oil & Gas Production Geology – 06 Reserves Assessment | 2011 | 17
Uses of Reserves Information
Користь інформації про резерви
� Government Reporting & Shareholders� Annual Report to Shareholders – Listed and non-listed
companies
� Energy Ministries/State Oil Company
� Financing
� Project Finance – value of collateral
� Borrowing Base
� Plant Design & Rate Projections� LNG Projects (e.g. 1 billion $ investment for one train project)
� Large Developments
Oil & Gas Production Geology – 06 Reserves Assessment | 2011 | 18
Uses of Reserves Information
Користь інформації про резерви
� Acquisition and Divestment� Reserves Bookings
� Disclosures
� Pre-Sale/Purchase Evaluation
� Appraisal vs. FMV (Fair Market Valuation)
� Tax Valuations� Proved Reserves for DD&A (Depreciation, Depletion & Amortization)
� Ad valorem taxes assessed by states, counties & schools
� Estate tax valuation
� Dispute Resolution� Equity Determinations
� Property Trades
� Fair Market Value
Oil & Gas Production Geology – 06 Reserves Assessment | 2011 | 19
Evaluation Methods
Методи оцінки
� Volumetric Approach (Early Life, Performance Not
Indicative, Complex Reservoirs, Always an Essential Baseline)
� Map, Calculate OIP, Recovery Factor
� Analogy
� Reservoir Simulation
� Performance Approach (More Mature Fields, Performance Trends
Established, Limited Additional Development, Volumetrics Still Informative)
� Decline Analysis
� Material Balance
� Reservoir Simulation
� Analogy
Oil & Gas Production Geology – 06 Reserves Assessment | 2011 | 20
US SEC (Security Exchange Commission) – A Few Comments
Комісія по цінним паперам та біржам США – декілька коментарів
Oil & Gas Production Geology – 06 Reserves Assessment | 2011 | 21
SEC Reserves Definitions
Визначення резервів комісією (SEC)
� Regulation S-X, Rule 4-10 (excerpt)
� Proved oil and gas reserves are the estimated quantities of crude oil, natural gas, and natural gas liquids which geologicaland engineering data demonstrates with reasonable certaintyto be recovered in future years from known reservoirs under existing economic and operating conditions, i.e. prices and costs as of the date the estimate is made.
� SEC Reserves Requirements
� Evaluation performed at a specific date (December 31st for SEC)
� Proved reserves only
� Actual prices; non-escalated except by contract
� Actual costs; no non-contractual escalation
� Positive future net revenue
� Current License Limits
Oil & Gas Production Geology – 06 Reserves Assessment | 2011 | 22
SEC Reserves Definitions – Proved
Визначення резервів комісією (SEC) - підтверджені
� Proved Developed
� Producing (current producing intervals)
� Non-Producing (reserves behind casing, only moderate cost)
„Proved developed oil and gas reserves are reserves that can be expected to be recovered through existing wells with existing equipment and operating methods.
Additional oil and gas expected to be obtained through the application of fluid injection or other improved recovery techniques for supplementing the natural forces and mechanisms of primary recovery should be included as „proved developed reserves“ only after testing by a pilot project or after the operation of an installed program has confirmed through production response that increased recovery will be achieved.“
� Proved Undeveloped
(e.g. new wells, side tracks, compression required, improved recovery, large capital expenditure required)
Oil & Gas Production Geology – 06 Reserves Assessment | 2011 | 23
SEC – Terms
Умови SEC
� Reasonable certainty
� Existing economic and operating conditions
� Economic producibility
� Hydrocarbon water contact (HWC). Lowest known hydrocarbons (LKH)
� Continuity of production
Oil & Gas Production Geology – 06 Reserves Assessment | 2011 | 24
Proved reserves
Підтверджені резерви
Proved reserves are those quantities of oil or gas which
� by analysis of geological and engineering data
� can be estimated with reasonable certainty to be commercially recoverable
� from a given date forward
� from known reservoirs and
� under current economic conditions,
� operating methods and
� government regulations.
Proved reserves can be categorized as developed or undeveloped.
� definition is pretty vague
� what is “reasonable certainty” - usually >90%
� date!, reserves change (e.g. by production)
� reservoir has to be proved by wells
� reserves may change with oil price or market conditions
� new technologies can increase reserves significantly
� once the license expires all reserves “are gone”
Oil & Gas Production Geology – 06 Reserves Assessment | 2011 | 25
Russian Oil & Gas Reserves Standards Change by 2012
Зміни стандартів Росії, щодо резервів нафти і газу, до 2012
Russia to switch to international oil and gas reserves standards by 2012
17 Nov 2010
Russia plans to harmonize its oil and gas reserves classification with international standards by 2012, the Resources Ministry said Wednesday.
'From 2012, Russia should introduce a new classification of hydrocarbon reserves in harmony with international SPE (Society of Petroleum Engineers) PRMS standards,' said Grigori Vygon, head of the ministry's economy and finance department. He saidgas reserves of Russia's state-run Gazprom under Russian standards are 25% higher than those under international standards.
Russia had originally planned to introduce the new standards in 2009, but then postponed the introduction.
Source: Dow Jones Newswires
http://www.energy-pedia.com/article.aspx?articleid=143040&editionid=100543
Oil & Gas Production Geology – 06 Reserves Assessment | 2011 | 26
Continue with Chapter 07 – Opportunity Selection
Oil & Gas Production Geology – 06 Reserves Assessment | 2011 | 27
Umrechnung von Standard- auf metrische Volumina
Перерахунок стандартних об‘ємів у метричні
Oil & Gas Production Geology – 06 Reserves Assessment | 2011 | 28
Umrechnung von Standard- auf metrische Volumina
Перерахунок стандартних об‘ємів у метричні
Petroleum Exploration – 07 Opportunity Selection
Пошуки нафти та газу – 07 вибір перспективних площей
Вольфганг НахтманнWolfgang Nachtmann � RAG � Wien
wolfgang.nachtmann@rag-austria.at
Petroleum Exploration – 07 Opportunity Selection | 2011 | 2
RAG New Ventures Criteria
Company criteria for new opportunities in a target area
1. New Asset Acquisition Frame Work
2. Heartland
3. Exploration & Production
4. Materiality
5. Technology & niche strengths
6. Entry & operational cost
7. Access
Shell CEE study 2003Company Criteria
Критерії компанії
Petroleum Exploration – 07 Opportunity Selection | 2011 | 3
RAG New Ventures Criteria
Критерії компанії, щодо нових перспектив на цільових площах1. Основи придбання нових активів2. Область інтересів3. Розвідка та видобуток4. Матеріальна сторона5. Технологія та сильні сторони6. Початок діяльності та оперативні витрати7. Доступ
Shell CEE study 2003Company Criteria
Критерії компанії
Petroleum Exploration – 07 Opportunity Selection | 2011 | 4
1. New Asset Acquisition Search Framework
� Investment: max 5 years revenues
� Pay out time: 5 years after investment
� Return on investment: cost of capital plus risk premium
� Profitability: ability to create additional value from restructuring, technology and exploration
� Control on investment: operatorship or influence with own technology
Company Criteria
Критерії компанії
Petroleum Exploration – 07 Opportunity Selection | 2011 | 5
1. Основи пошуку нових активів, з метоюпридбання
� Інвестиція: макс. 5 років доходу
� Термін окупності: 5 років після інвестиці
� Рентабельність капіталовкладень: вартість капіталу плюс ставка заризик
� Прибутковість: здатність утворити додаткову вартість за рахунокреструктуризації, технології та розвідки
� Контроль інвестиції: функції оператора або вплив власноютехнологією
Company Criteria
Критерії компанії
Petroleum Exploration – 07 Opportunity Selection | 2011 | 6
RAG New Ventures Criteria (1)
2. Heartland
Select area of interest – 'heartland'; e.g. EU member countries are preferred for stable investment environment; or CEE, CIS, onshore vs. offshore, …….
3. Production & exploration upside
Interested in proven hydrocarbon provinces with existing infrastructure; also greenfield exploration. Preferred option is (brownfield) production with nearby exploration potential.
4. Materiality
Company Mid Term Strategy - Assuming 50% production growth (from 5000 bbls oe/d) for Company and no more than 2 concurrent ventures, we seek production of > 2000 bbls oe/d [= 114 t/d] or fieldsizes of > 3,5 MMboe [= 525 Mio m³]), unless strategic entry and supported by substantial growth potential.
RAG New Ventures CriteriaShell CEE study 2003Company Criteria
Критерії компанії
Petroleum Exploration – 07 Opportunity Selection | 2011 | 7
RAG New Ventures Criteria (1)
2. Область інтересівВибір перспективної площі – 'heartland'; напр. країни-члени ЄС єпереважними щодо стабільного інвестиційного середовища; абоЦентральна Східна Європа, СНД, оншор или оффшор, …….
3. Потенціал видобутку та розвідкиЗацікавленність у підтверджених областях вуглеводнів із існуючуюінфраструктурою; також пошуково-оцінювальні роботи. Переважнийваріант (зріле родовище) - видобуток з розташованим близькопотенціалом для розвідки
4. Матеріальна сторонаСередньострокова стратегія компанії - враховуючи 50% приростудобутку (від 5000 bbls oe/д) для компанії та не більш ніж 2 паралельних проекти, ми прагнемо отримати добуток > 2000 bbls oe/д[= 114 t/д] або розміру родовища > 3,5 MMboe [= 525 млн. м³]), невраховуючи стратегічний вступ та потенціал значного зростання.
RAG New Ventures CriteriaShell CEE study 2003Company Criteria
Критерії компанії
Petroleum Exploration – 07 Opportunity Selection | 2011 | 8
RAG New Ventures Criteria (2)
5. Technology & niche expertise
Potential impact of 3D seismic, modern production techniques, etc. and the Company’s subsurface expertise (e.g. foreland thrust belt basins, carbonate reservoirs, etc. – is this a proper criterion?)
6. Entry and Operational Cost
Commitment costs, drilling costs, operational cost, terrain, etc
Risk/reward ratio & potential cost of failure are within acceptable exposure
7. Access
Difficulty or ease of access to acreage, data, facilities, personnel
RAG New Ventures CriteriaShell CEE study 2003Company Criteria
Критерії компанії
Petroleum Exploration – 07 Opportunity Selection | 2011 | 9
RAG New Ventures Criteria (2)
5. Технологія та галузь експертизиПотенціальна роль сейсміки 3D, сучасна техніка добутку, та ін., а такожпроведення експертизи надр компанією (напр. фронтальна областьбасейнів складчасто-надвігових поясів, карбонатні колектори, та ін. –тут власні критерії?)
6. Початок діяльності та оперативні витратиВитрати по зобов‘язаннях, витрати на буріння, оперативні витрати, рельєф місцевості, іншеСтавка за ризик/винагорода та потенціальні витрати у випадкунеуспішності – в допустимих рамках
7. ДоступУскладнення та спрощення доступу до площі, інформації, матеріально-технічної бази, кадровий склад
RAG New Ventures CriteriaShell CEE study 2003Company Criteria
Критерії компанії
Petroleum Exploration – 07 Opportunity Selection | 2011 | 10
Farm-in Opportunities
Current CEE E&P situation & opportunities
� There is rather limited open acreage in the proven HC provinces;. occasional auctions (e.g. Romania); farm-in offers,……
� Most acreage is still held by former national oil companies, such as MOL (Hungary), Petrom & Romgaz (Romania), PGNG (Poland), Nafta Gbely (Slovakia), Naftogaz and NAK Nadra (Ukraine)
� Acreage held by independents is often exploration (such as Hungarian Horizon in Hungary, Toreador in Turkey – both had quick discoveries);
� in CIS countries independent companies often seek cooperation with local companies (often state owned, sometimes also private ones)
. who hold licenses with discovered but undeveloped HC-resources, or apply for new licenses with old wells
� Reliable subsurface data are hard to find, or expensive and often . without corresponding value
How can Company approach this?
Pannonian BasinTransylvanian BasinShell CEE study – Top 5 basinsShell CEE study – Top 5 basinsRAG New Ventures CriteriaShell CEE study 2003Example: Considerations for a CEE Strategy
Приклад: аналіз стратегії для Центральної Східної Європи
Petroleum Exploration – 07 Opportunity Selection | 2011 | 11
Farm-in Opportunities
Поточна ситуація та потенціали розвідки тадобутку у ЦСЄ� В областях підтверджених вуглеводнів - досить обмежена наявністьвідкритих площей; . рідкі аукціони (напр. Румунія); пропозиції щодоугоди про отримання частки (участі),……
� Більшістю площей до цих пір володіють колишні національні нафтовікомпанії, такі, як MOL (Угорщина), Petrom & Romgaz (Румунія), PGNG (Польша), Nafta Gbely (Словакія), Naftogaz та NAK Nadra (Україна) � Площі, якими володіють незалежні організації, – часто розвідувальні (якнапр. Hungarian Horizon в Угорщині, Toreador у Туреччині – в обохшвидкі результати);� У країнах СНД незалежні організації часто шукають співробітницва ізлокальними компаніями (часто державні, іноді також і приватні) яківолодіють ліцензіями на площах з виявленими, але не розробленимиресурсами вуглеводнів, або подають заяву на нову ліцензію за умовистарих свердловин .
� Знайти надійні дані по надрам складно або дорого та часто без належноїкористіЯк компанія може вступити у переговори притаких умовах?
Pannonian BasinTransylvanian BasinShell CEE study – Top 5 basinsShell CEE study – Top 5 basinsRAG New Ventures CriteriaShell CEE study 2003Example: Considerations for a CEE Strategy
Приклад: аналіз стратегії для Центральної Східної Європи
Petroleum Exploration – 07 Opportunity Selection | 2011 | 12
RAG weaknesses
Company strengths & weaknesses
� High tech, low cost operator
� Experience in small field development and production
� Efficient production technologies in use
� Foreland fold-and-thrust belt geoscience expertise
� Data poor
CEE areas are mostly mature, and new oil & gas finds require a
detailed knowledge of the basins and lots of data, which Company needs to acquire
� Lack of operational experience/network in target region
� different business environment and practices
� different, less efficient logistics
� Limited staff resources
� different culture
Pannonian BasinTransylvanian BasinShell CEE study – Top 5 basinsShell CEE study – Top 5 basinsRAG New Ventures CriteriaShell CEE study 2003Company Strategy
Стратегія компанії
Petroleum Exploration – 07 Opportunity Selection | 2011 | 13
RAG weaknesses
Сильні та слабкі сторони компанії
� Високі технології, недорогий оператор� Досвід у розробці та видобутку на малих родовищах� Залучення ефективних технік видобутку� Геолого-геофізична компетенція фронтальної зони складчасто-надвігових поясів� Незначний обсяг інформації
Площі ЦСЄ, як правило, зрілі, а нові виявлення нафти і газу потребуютьдетальних знань басейнів, безліч даних, які фірма має придбати� Брак оперативного досвіду/мережи у цільових регіонах� Різне бізнес-середовище та практики� Інша, менш ефективна логістика� Обмежені кадрові ресурси� Культурні відмінності
Pannonian BasinTransylvanian BasinShell CEE study – Top 5 basinsShell CEE study – Top 5 basinsRAG New Ventures CriteriaShell CEE study 2003Company Strategy
Стратегія компанії
Petroleum Exploration – 07 Opportunity Selection | 2011 | 14
ThreatsOpportunities
WeaknessesStrengths
SWOT – Analysis
SWOT – аналіз
Petroleum Exploration – 07 Opportunity Selection | 2011 | 15
SWOT – Analysis
SWOT – аналіз
Загроза/ризик
Потенціали
Слабкісторони
Сильністорони
Petroleum Exploration – 07 Opportunity Selection | 2011 | 16
Farm-in Opportunities
1. Farm-in evaluations
Currently the easiest access to acreage. However, farm-in opportunities are reactive, and most companies don‘t farm out
what they see as their best opportunities
Datarooms and farm-out brochures are a cheap source of detailed information, but are often incomplete
Do at least a plausibility check or try your own interpretation of data
Continue screening opportunities, but focus on high grade areas
� Evaluate numerous opportunities to gain experience and eventually select the most attractive ones
2. Network building
Building a network of contacts for (early) information about opportunities, building a profile for Company, establishing trust (conferences, meetings, business contacts)
� Subscribe data traders‘ newsletters, join scout groups
Pannonian BasinTransylvanian BasinShell CEE study – Top 5 basinsShell CEE study – Top 5 basinsRAG New Ventures CriteriaShell CEE study 2003Company Strategic Options in Target Area 1/2
Стратегічні можливості компанії на цільових площах 1/2
Petroleum Exploration – 07 Opportunity Selection | 2011 | 17
Farm-in Opportunities
1. Оцінка проекту щодо отримання частки (участі)
Актуальний найпростіший доступ до площі.Однак, потенційні проекти отримання частки є послідовними, та більшість компаній не
шукають можливостей субпідряду, що вважають за краще для себеБрошури щодо інформаційної бази (Dataroom) та залучення субпідрядника є дешевим
джерелом детальної інформації (але часто неповної)Перевірка принаймні достовірності або спроба провести власну інтерпретацію даних
Продовження відбору потенційних можливостей, але концентрація на площах високогоступеню
� Оцінка багаточисельних потенціалів придбання досвіду та можливий вибір найбільшпривабливих
2. Створення мережи
Створення мережи контактів для (ранньої) інформації щодо потенційних можливостей, створення профілю компанії, заснування тресту (конференції, зустрічі, бізнес-контакти)
� Отримання інформаційних бюлетенів по трейдер-даним, приєднання до scout groups(груп зацікавлених осіб, націлених на пошук)
Pannonian BasinTransylvanian BasinShell CEE study – Top 5 basinsShell CEE study – Top 5 basinsRAG New Ventures CriteriaShell CEE study 2003Company Strategic Options in Target Area 1/2
Стратегічні можливості компанії на цільових площах 1/2
Petroleum Exploration – 07 Opportunity Selection | 2011 | 18
Farm-in Opportunities
3. AMI/Joint Study Agreements
Proactive approach
Contact & longer term business relationship with (former) NOC‘s, who have the prime assets, acreage & data
Needs high level action (senior management, shareholder contacts), allows Company to select areas or projects of choice
� Review and screen contacts frequently and establish personal liaisons
4. Licensing Rounds/Asset Acquisitions/Auctions
Rare in area, but most direct route to exploration & brownfield development
Company wants operatorship and full control of venture (??)
Resource & manpower intensive, requires detailed knowledge of area
� Check relevant information (sources) regularly and act immediately if an opportunity arises
Pannonian BasinTransylvanian BasinShell CEE study – Top 5 basinsShell CEE study – Top 5 basinsRAG New Ventures CriteriaShell CEE study 2003Company Strategic Options in Target Area 2/2
Стратегічні можливості компанії на цільових площах 2/2
Petroleum Exploration – 07 Opportunity Selection | 2011 | 19
Farm-in OpportunitiesPannonian BasinTransylvanian BasinShell CEE study – Top 5 basinsShell CEE study – Top 5 basinsRAG New Ventures CriteriaShell CEE study 2003Company Strategic Options in Target Area 2/2
Стратегічні можливості компанії на цільових площах 2/2
3. Область спільних інтересів/угоди про спільневивчення
Ініціативний підхід
Контакти та довгострокові ділові стосунки з (колишніми) нац. нафт. компаніями, вяких є основні активи, область та дані
Потреба діяти на високому рівні (вище керівництво, контракти засновників) дозволяє компанії вибрати певну площу або проект� Аналіз та вибір контактів та перетворення їх в особисті
4. Стадії ліцензування/придбання активів/аукціони
Рідко в цікавих областях, але, якщо відбувається, то є найпрямішим шляхом дорозвідки та розробки зрілих родовищ
Компанія прагне ролі оператора та повного контролю за проектом (??)
Зростання кадрової та ресурсної бази потребуть детальних знань площі� Перевірка відповідної інформації (джерела) належним чином та негайні дії, якщо
виникне перспектива
Petroleum Exploration – 07 Opportunity Selection | 2011 | 20
StrategicRisk Management
GeographicTarget Areas
General Frameworkbase-scenario 40 $/bbl
Oil priceshort-/longterm
Liquidity
Definition „NV“(project portfolio incl.
UGS, infrastructure…)
Strategic Activity Areasexpl.? prod.? (quick return)UGS, infrastructure, etc.?
(longterm/strategic)
„Spin-offs“NV-projects? UGS?
Funding Optionswhich one is feasible, which one not?
consequence for dividends
Partner(s)
TechnicalCompetences
(e.g. tight gas,shale gas, offshore?)
Risk Evaluation(e.g. political, market-based)Ranking Criteria
for ProjectsNoGos, key figures,
internal Due Diligencefor list of questions
Effort for Evaluation(e.g. finance studies/advises,
external legal advise)
Resources(Manpower, etc.)
…and further … ?
Risk Preparedness
Percentageof Participation
Influence onOperatorship
Summary of Criteria to be Considered for Decision
Критерії, що необхідно врахувати для прийняття рішення
Petroleum Exploration – 07 Opportunity Selection | 2011 | 21
Summary of Criteria to be Considered for Decision
Критерії, що необхідно врахувати для прийняття рішення
Стратегічнийменеджмент ризику
Геогр. цільовихплощей
Загальна концепціябазовий сценарій 40 $/bbl
Ціна на нафтукоротко-/lдовгостр.
Ліквідність
Визначення „NV“(портфоліо проекту вкл.під. газосховище, інфраструктуру…)
Області стратегічних дійрозв.? видоб.? (швидка окупність )
підз. газосховище, інфраструктура, ін.?(довгостр./стратегічно)
„Додат. джерело доходу“Нові проекти? Під. газосх.?
Вкладення в опціониякі з них реалістичні, які ні?Наслідки для дивідендів
Партнер(и)
Технічнакомпетенція
(напр. газ у щільнихпор., сланц. газ, оффшор?)
Оцінка ризику(напр. політичн, ринкового)
Рейтингові критеріїпроектів
Недопустимі речі, осн. показники,
внутр. перевірка, список запитань
Оціночна програма(фінансові досл./рекомен.,зовн. юр. консульт.)
Ресурси(людські, ін.)
…та подальші… ?
Готовність доризику
Процентиучасті
Вплив наоператор. діяльність
Petroleum Exploration – 07 Opportunity Selection | 2011 | 22
� Bottlenecks in HC maturation management
� Execution of activities to meet production / maturation planning
� Delays in development of discoveries
� Neglecting of small fields (due to inefficiencies)
� Strong competition for quality assets
� Build up required competitive advantages
� Project management / track record in project execution accordingto plan
� Competence to execute larger projects
� KPI benchmarking & performance improvement
� Internationalisation
� People / experts
� Speed (project execution, decisions)
� Political support / lobbying
E&P Licenses / Asset Issues
Питання активів та ліцензування на розвідку/видобуток
Petroleum Exploration – 07 Opportunity Selection | 2011 | 23
E&P Licenses / Asset Issues
Питання активів та ліцензування на розвідку/видобуток
� Перешкоди у менеджменті довгострокового видобутку ВВ� Здійснення кроків для забезпечення видобутку / планування розвитку� Затримки у розробці родовищ� Ігнорування малих родовищ (через неефективність)
� Сильна конкуренція щодо якісних активів� Вимоги як конкурентні переваги
� Менеджмент проектів / досвід у здійсненні проектів, згідно до плану� Компетенція у здійсненні великих проектів� Аналіз основних виробничих показників та покращення роботи� Інтернаціоналізація� Люди / спеціалісти� Швидкість (здійснення проекту, рішень)� Політична підтримка / лоббінг
Petroleum Exploration – 07 Opportunity Selection | 2011 | 24
� Explorer – Producer – Service Provider – Risk Contract Manager
� Operator – Non-Operator – Financial Investor
� Control – Participation – Influence
� Upstream – Midstream (Storage, Pipeline) – Trader – CO2 Storage
� Asset management – asset backed trading
� Preferred partners – strategic alliances
� Resources – Competencies - Targets
� Financing structure – capital efficiency – gearing
� Clarify objectives: Production <-> Reserves; Assets <-> Risk
� What is the relevant market? Where do we want to build positions?
� How should the Portfolio 20xx look like?
� Cash Cow (exit model) -> Investor (growth model, increase equity)
� Relationship to shareholders
Define Business Model
Визначення бізнес-моделі
Petroleum Exploration – 07 Opportunity Selection | 2011 | 25
Define Business Model
Визначення бізнес-моделі
� Розвідник – промисловець – сервісна компанія – менеджер з рикизу� Оператор – не-оператор – фінансовий інвестор� Контроль – участь – вплив� Upstream – Midstream (сховище, газопровід) – торговець – CO2сховище
� Менеджмент активів – торгівля активами� Привілейовані партнери – стратегічні аліанси� Ресурси – компетенція - цілі� Фінансова структура – ефективність капіталу – співвідношення міжвласними і позиковими засобами
� Чіткі завдання: видобуток <-> резерви; активи <-> ризик� Яка ситуація на ринку? Де ми прагнемо отримати позиції?� Як має виглядати портфоліо у 20xx році?� Грошовий поток (модель виходу) -> Інвестор (модель зростання, збільшення вартості капіталу)
� Відношення з учасниками
Petroleum Exploration – 07 Opportunity Selection | 2011 | 26
Road Map to New Opportunities
План розвитку нових перспектив
X X
Petroleum Exploration – 07 Opportunity Selection | 2011 | 27
BASIC DATACOLLECTION
COMPILATIONASSESSMENT
I.
RANKINGCOUNTRIES/
PLAYS
PROACTIVESEARCH
FOR OPPORTUNITIESDATA
LITERATUREWWW
PERS. CONT.eg.conventions,prof. societies
OPPOR-TUNITYFAIRS
OFFEREDOPPOR-TUNITIES
RAG - NVDATABASE
Comp.‘sSTRENGTHS& NICHES
CON-STRAINTS
COUNTRY 1
COUNTRY 2
COUNTRY 3
COUNTRY 4
R A N K I N G
P R O C E S S
COUNTRY/PLAY
AB
COUNTRY/PLAY
UV
COUNTRY/PLAY
XY
C O N T A C TP L A Y E R S,A S K F O R
OPPORTUNITIES
GEOLOGYPRODUCTION DATA
POTENTIALINFRASTRUCTURE
ECONOM. & POLITICAL SITUATIONLEGAL
ECONOM. ASSESSMENTPLAYERS/COMPETITORS
FREE ?
FREE
FREE/
M I D 2 0 0 X
DATATRADERS
€
€
€
Road Map to New Opportunities
План розвитку нових перспектив
Petroleum Exploration – 07 Opportunity Selection | 2011 | 28
ЗБІРЗБІРЗБІРЗБІР ОСНОВНИХОСНОВНИХОСНОВНИХОСНОВНИХДАНИХДАНИХДАНИХДАНИХ
УЗАГАЛЬНЕННЯУЗАГАЛЬНЕННЯУЗАГАЛЬНЕННЯУЗАГАЛЬНЕННЯДАНИХДАНИХДАНИХДАНИХ ОЦІНКАОЦІНКАОЦІНКАОЦІНКА
I.
РЕЙТИНГРЕЙТИНГРЕЙТИНГРЕЙТИНГ КРАЇНКРАЇНКРАЇНКРАЇН/КОМПЛЕКСІВКОМПЛЕКСІВКОМПЛЕКСІВКОМПЛЕКСІВ
АКТИВНИЙАКТИВНИЙАКТИВНИЙАКТИВНИЙПОШУКПОШУКПОШУКПОШУК
ПЕРСПЕКТИВПЕРСПЕКТИВПЕРСПЕКТИВПЕРСПЕКТИВДАНІДАНІДАНІДАНІ, ЛІТЕРАТУРАЛІТЕРАТУРАЛІТЕРАТУРАЛІТЕРАТУРАWWW
ОСОБОСОБОСОБОСОБ. КОНТАКТИКОНТАКТИКОНТАКТИКОНТАКТИeg.conventions,prof. societies
СПЕКТРСПЕКТРСПЕКТРСПЕКТРМОЖЛИМОЖЛИМОЖЛИМОЖЛИВОСТЕЙВОСТЕЙВОСТЕЙВОСТЕЙ
ЗАПРОЗАПРОЗАПРОЗАПРО-ПОНОВАНІПОНОВАНІПОНОВАНІПОНОВАНІПЕРСПЕКТИВИПЕРСПЕКТИВИПЕРСПЕКТИВИПЕРСПЕКТИВИ
РАГРАГРАГРАГ - NVБАЗАБАЗАБАЗАБАЗАДАНИХДАНИХДАНИХДАНИХ
Comp.‘sSTRENGTHS& NICHES
CON-STRAINTS
КРАЇНАКРАЇНАКРАЇНАКРАЇНА 1
КРАЇНАКРАЇНАКРАЇНАКРАЇНА 2
КРАЇНАКРАЇНАКРАЇНАКРАЇНА 3
КРАЇНАКРАЇНАКРАЇНАКРАЇНА 4 РЕЙТИНГРЕЙТИНГРЕЙТИНГРЕЙТИНГПРОЦЕСПРОЦЕСПРОЦЕСПРОЦЕС
КРАЇНАКРАЇНАКРАЇНАКРАЇНА/КОМПЛЕКСКОМПЛЕКСКОМПЛЕКСКОМПЛЕКС
AB
КРАЇНАКРАЇНАКРАЇНАКРАЇНА/КОМПЛЕКСКОМПЛЕКСКОМПЛЕКСКОМПЛЕКС
UV
КРАЇНАКРАЇНАКРАЇНАКРАЇНА/КОМПЛЕКСКОМПЛЕКСКОМПЛЕКСКОМПЛЕКС
XY
УЧАСНИКИУЧАСНИКИУЧАСНИКИУЧАСНИКИ,ЗАЦІКАВЛЕНІСТЬЗАЦІКАВЛЕНІСТЬЗАЦІКАВЛЕНІСТЬЗАЦІКАВЛЕНІСТЬ УУУУПЕРСПЕКТИВАХПЕРСПЕКТИВАХПЕРСПЕКТИВАХПЕРСПЕКТИВАХ
GEOLOGYPRODUCTION DATA
POTENTIALINFRASTRUCTURE
ECONOM. & POLITICAL SITUATIONLEGAL
ECONOM. ASSESSMENTPLAYERS/COMPETITORS
FREE ?
FREE
FREE/
M I D 2 0 0 X
ПРОДАВЦПРОДАВЦПРОДАВЦПРОДАВЦІІІІ ДАНИХДАНИХДАНИХДАНИХ
€
€
€
Road Map to New Opportunities
План розвитку нових перспектив
Petroleum Exploration – 07 Opportunity Selection | 2011 | 29
PROSPECTDATABASE
PROSPECTRANKING
PROPOSE TOSHAREHOLDERS,
GET DECISION& APPROVAL
PROSP./ACREAGE
A
PROSP./ACREAGE
B
PROSP./ACREAGE
C
P R O S P E C T
A S S E S S M E N
T
ADDITIONALWORK, STUDIES
EG. REPROCESSING
E N D 2 0 X X
B
C
B
A C
ASSESSMENTII.
€
€
€
Road Map to New Opportunities
План розвитку нових перспектив
Petroleum Exploration – 07 Opportunity Selection | 2011 | 30
ПОТЕНЦІАЛЬНАПОТЕНЦІАЛЬНАПОТЕНЦІАЛЬНАПОТЕНЦІАЛЬНАБАЗАБАЗАБАЗАБАЗА ДАНИХДАНИХДАНИХДАНИХ
РЕЙТИНГРЕЙТИНГРЕЙТИНГРЕЙТИНГПЕРСПЕКТИВИПЕРСПЕКТИВИПЕРСПЕКТИВИПЕРСПЕКТИВИ
ПРОПОЗИЦІЯПРОПОЗИЦІЯПРОПОЗИЦІЯПРОПОЗИЦІЯУЧАСНИКАМУЧАСНИКАМУЧАСНИКАМУЧАСНИКАМ,РІШЕННЯРІШЕННЯРІШЕННЯРІШЕННЯТАТАТАТА
ЗАТВЕРДЖЕННЯЗАТВЕРДЖЕННЯЗАТВЕРДЖЕННЯЗАТВЕРДЖЕННЯ
ПОТЕНПОТЕНПОТЕНПОТЕН./ПЛОЩАПЛОЩАПЛОЩАПЛОЩА
A
ПОТЕНПОТЕНПОТЕНПОТЕН./ПЛОЩАПЛОЩАПЛОЩАПЛОЩА
B
ПОТЕНПОТЕНПОТЕНПОТЕН/ПЛОЩАПЛОЩАПЛОЩАПЛОЩА
C
ОЦІНКАОЦІНКАОЦІНКАОЦІНКАПОТЕЦІАЛІВПОТЕЦІАЛІВПОТЕЦІАЛІВПОТЕЦІАЛІВ
ADDITIONALWORK, STUDIES
EG. REPROCESSING
E N D 2 0 X X
B
C
B
A C
ОЦІНКАОЦІНКАОЦІНКАОЦІНКАII.
€
€
€
Road Map to New Opportunities
План розвитку нових перспектив
Petroleum Exploration – 07 Opportunity Selection | 2011 | 31
Decision Tree
Дерево рішень у проекті
STOPRAG ACTIVITY
FARM OUT 100%
RELINQUISH
DO FURTHERTECH. WORK
Try
to fa
rmou
t pe
rcen
tage
БУРІННЯБУРІННЯБУРІННЯБУРІННЯ
STOP
UNCLEAR RESULT
...........
STOP
CONTINUE
STOP
CONTINUE
UNCLEAR RESULT
...........
STOP
CONTINUE
STOP
CONTINUE
БУРІННЯБУРІННЯБУРІННЯБУРІННЯ
RELINQUISHPARTS
DO FURTHERTECH. WORK
БУРІННЯБУРІННЯБУРІННЯБУРІННЯ
БУРІННЯБУРІННЯБУРІННЯБУРІННЯ
STOP
UNCLEAR RESULT
...........
STOP
CONTINUE
STOP
CONTINUE
UNCLEAR RESULT
...........
STOP
CONTINUE
STOP
CONTINUE
ПРОДОВЖУЙПРОДОВЖУЙПРОДОВЖУЙПРОДОВЖУЙ
Try
to fa
rmou
t pe
rcen
tage
2010 2011 2012ff
.......
.......
.......
.......
......
.
.......
.......
.......
Peer Review
МЕТАМЕТАМЕТАМЕТА:ПрийнятиПрийнятиПрийнятиПрийняти рішеннярішеннярішеннярішення щодощодощодощододійдійдійдій уууу певнійпевнійпевнійпевній галузігалузігалузігалузі зазазазанаявністюнаявністюнаявністюнаявністю данихданихданихданих xx
(Date to bedetermined)
Petroleum Exploration – 07 Opportunity Selection | 2011 | 32
Continue with Chapter 08 – Risk Assessment
Petroleum Exploration – 08 Risk Assessment
Розвідка нафти і газу – 08 Оцінка ризику
Вольфганг Нахтманн
Wolfgang Nachtmann � RAG � Wien
wolfgang.nachtmann@rag-austria.at
Petroleum Exploration – 08 Risk Assessment | 2011 | 2
Screening Criteria – Vision
Критерії відбору– концепція
Оцінка проекту та критерії відбору визначають основи та
принципи, що дозволяють приймати рішення, відносноуправління ресурсами, на всіх рівнях, з упевненістю, щовони сприяють прибутковому зростанню та покращенній
підприємницькій діяльності
Project evaluation and screening criteria provide the framework and guidance that enable resource management decisions at all levels to be taken in the confidence that they contribute to profitable growth and improved business performance
Petroleum Exploration – 08 Risk Assessment | 2011 | 3
Evaluation and Screening Process
Процес оцінки та відбору
1. Об‘єктивна оцінка перспектив очікуванихвкладень
2. Оцінка ризику та невизначеності, пов‘язаних із. перспективою
3. Порівняння вартості наряду зі специфічним
відбором критеріїв, націлених на досягненнястратегічних цілей
1. Unbiased valuation of opportunities on expectation input
2. Assessment of risks and uncertainty associated with the opportunity
3. Comparison of value against specific screening hurdles set to achieve strategic goals
Petroleum Exploration – 08 Risk Assessment | 2011 | 4
Evaluation and Screening Are Part of Value Based Management
Оцінка та відбір є частиною менеджменту, базованому на вартості
Economic Screening
(criteria to be selected)
Performance Screening
(OU track record)
Ranking
Capital Allocation
Decision Making
Performance Monitoring
EP Operational Roadmap
EP Financial Roadmap
Strategic Screening (Aspired Portfolio)
Petroleum Exploration – 08 Risk Assessment | 2011 | 5
Evaluation and Screening Are Part of Value Based Management
Оцінка та відбір є частиною менеджменту, базованому на вартості
Економічний відбір
(критерії, якінеобхідно вибрати)
Оцінка виконання
роботи (досвід роботияк оператор)
Рейтинг
Розподіл капіталу
Прийняття рішень
Контроль якості работи
EP Оперативний
план розвитку
EP фінансовий
план розвитку
Стратегічний відбір (бажанепортфоліо)
Petroleum Exploration – 08 Risk Assessment | 2011 | 6
Screening Criteria
Критерії відбору
� Oil price scenarios $ 40 - 70 - 100 per bbl Brent� Projects benchmarked and challenged (esp. costs)� Screening hurdles represent minimum requirements� ‘Acid tests’ to ensure robustness of projects and business� Structured screening process for exploration and new
business opportunities� Screening links to Portfolio Management and Capital
Allocation� Commitment to Sustainable Development
Petroleum Exploration – 08 Risk Assessment | 2011 | 7
Screening Criteria
Критерії відбору
� Сценарій розвитку ціни на нафту $ 40-70-100 за bbl Brent� Перевірені та оцінені проекти (витрати)� Перешкоди відбору – мінімум вимог
� ‘Проба на кислу реакцію’ як гарантія надійного проекту табізнесу
� Структурований процес відбору для розвідки та нових
бізнес-перспектив� Зв‘язок відбору з портфоліо менеджментом та розподілом
капіталу
� Зобов‘язання щодо стійкого розвитку
Petroleum Exploration – 08 Risk Assessment | 2011 | 8
Option Valuation
Оцінка опціонів
� Every economic evaluation in essence is option valuation� There is option value if there is
� Uncertainty (the more uncertainty - the higher the option value)� Flexibility to react to resolved uncertainty (option is right, not
obligation)� ‘Physical’ and ‘tradable’ options� Intrinsic Value = NPV Project + Value of Options� Option value sometimes already in NPV or EMV
� Exploration, particularly with intermediate potential ‘exits’� Appraisal - Value of Information
� Use probability/decision trees for valuation� Value of options is explicit� Process is transparent
Petroleum Exploration – 08 Risk Assessment | 2011 | 9
Option Valuation
Оцінка опціонів
� Кожна економічний аналіз, по суті, - оцінка опціонів� Вартість опціона є там, де є
� невизначеність (більша невизначеність – вища вартість опціону)� гнучкість реакції на невизначеність (опціон є правом, незобов‘язанням)
� ‘Фізичні’ та ‘ринкові’ опціони� Внутрішня вартість= NPV проекту + вартість опціону� Вартість опціону іноді виражена вже у NPV або EMV
� Розвідка, зокрема з проміжними потенціальними ‘виходами’� Аналіз – вартість інформації
� Використання імовірності/дерева рішень для оцінки� Вартість опціону є визначеною
� Процес прозорий
Petroleum Exploration – 08 Risk Assessment | 2011 | 10
Risk Management
Менеджмент ризику
� Attitude and action: Absorb -> Diversify -> Mitigate -> Exploit
� Risk at different levels: Group - Business - OU - Project� Systemic vs project specific� Project risk
� Risk/reward balance� Timing / Project phases� Make risk elements explicit in cash flow
� Quantify impact over wide range of outcomes� Exploit where possible (technical and commercial)� Mitigate where necessary (flexible design, contracts, etc.)
Petroleum Exploration – 08 Risk Assessment | 2011 | 11
Risk Management
Менеджмент ризику
� Підхід та дії: Сприйняття -> диверсифікація -> мінімізація -> усунення
� Ризик на різних рівнях: група - бізнес - операторство - проект� Порівняння системності та специфічності проекту
� Ризик проекту
� Баланс ризику та винагороди
� Часові рамки / фази проекту� Складання елементів ризику - грошовий поток
� Оцінка наслідків ризику для всього спектру діяльності
� Усунення, де можливо (техн. та коммерц. аспекти)� Мінімізація, де необхідно (гнучкий дизайн, контракти, ін.)
Petroleum Exploration – 08 Risk Assessment | 2011 | 12
Types of Risk
Типи ризику
Risk is:The combined effect of
the probability of occurrence of an undesirable event, and the magnitude of the event
Ризик є:комбінованим ефектом ймовірності, що
небажана подія відбудеться, та значущостіданої події
Petroleum Exploration – 08 Risk Assessment | 2011 | 13
Types of Risk
Типи ризику
� Conduct honesty, integrity, fairness, conflict of interest
� Legal compliance with laws, civil liabilities
� Financial cash flow, business controls, defalcations
� Commercial oil price, contractor performance, competence
� HSE harm to people or environment
� Technology reservoir, facility integrity, production capacity
� Logistics sufficient availability of equipment & services in
emergency case
� Reputation public perception, loss of opportunities
� Stakeholders governments, communities, pressure groups
� Human factor cultural competence, communication, fallibility
Petroleum Exploration – 08 Risk Assessment | 2011 | 14
Types of Risk
Типи ризику
� Образ дії чесність, порядність, справедливість, конфлікт
інтересів
� Юрид. дотримання законів, цив. відповідальність
� Фінанс. грошовий поток, контроль бізнесу, недостачі
� Комерц. ціна на нафту, робота контрактора,
компетенція
� HSE шкода населенню або навк. середовищу
� Технол. колектор, стан обладн., вир. потужність
� Логістика належна доступність обладн. та послуги в
авар. випадку
� Репутація громадська думка, упущені можливості
� Впливові учасники уряд, спілки, групи впливу
� Людський фактор культурна компетенція, комунікація,
помилковість
Petroleum Exploration – 08 Risk Assessment | 2011 | 15
Attractiveness of a Region for E & P Investment
Привабливість регіону для інвестицій у розвідку та видобуток
Привабливість регіону для інвестицій у розвідку та
видобуток залежить від розрахунку перспективності, який, в цілому, пов‘язаний з технічними аспектами, атакож з юридичними та фіскальними угодами, щодопромислової розробки нафтогазових резервів
The attractiveness of a region for exploration and production (E&P) investment depends upon the perception of its prospectivity, which broadly speaking, refers to the technical attributes as well as legal and fiscal arrangements for the commercial exploitation of the petroleum reserves.
Petroleum Exploration – 08 Risk Assessment | 2011 | 16
Risk Management Learning Curve
Крива менеджменту ризику
Petroleum Exploration – 08 Risk Assessment | 2011 | 17
Risk Management – Early Decision Maximizes Cost Impact
Менеджмент ризику– раннє рішення максимізує наслідки витрат
Petroleum Exploration – 08 Risk Assessment | 2011 | 18
Petroleum Exploration – 08 Risk Assessment | 2011 | 19
The Exploration Lottery
Лотерея розвідки
Petroleum Exploration – 08 Risk Assessment | 2011 | 20
Project Decision Tree
Дерево рішень проекту
STOPRAG ACTIVITY
FARM OUT 100%
RELINQUISH
DO FURTHERTECH. WORK
Try
to fa
rm o
ut
perc
enta
ge
DRILL
STOP
UNCLEAR RESULT
...........
STOP
CONTINUE
STOP
CONTINUE
UNCLEAR RESULT
...........
STOP
CONTINUE
STOP
CONTINUE
DRILL
RELINQUISHPARTS
DO FURTHERTECH. WORK
DRILL
DRILL
STOP
UNCLEAR RESULT
...........
STOP
CONTINUE
STOP
CONTINUE
UNCLEAR RESULT
...........
STOP
CONTINUE
STOP
CONTINUE
CONTINUE
Try
to fa
rm o
ut
perc
enta
ge
2010 2011 20XX
.......
.......
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.......
......
.
.......
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Peer Review
TARGET:Decide about activities in A certain area by date xx
(Date to be determined)
Petroleum Exploration – 08 Risk Assessment | 2011 | 21
POS – Probability of (Economic) Success
POS – імовірність (економічність) успіху
POS є індикатором імовірності, щодо перспектив успіху та є продуктомнаступних параметрів:
Структура/пастка Structure/Trap
Непрониклива порода Seal
Колектор Reservoir
Насиченість Charge
POS (%) = Pstructure/trap * Pseal * Preservoir * Pcharge
Example from a prospect in the Imbricated Molasse
Приклад – перспектива, черепицеподібна моласса
POS is an indicator for the probability that a petroleum prospect is successful and is the product of these parameters:
Petroleum Exploration – 08 Risk Assessment | 2011 | 22
Discounted Cash Flow Analysis
Аналіз дисконтованого грошового потоку
From: Devon Modified from USGS and Simmons & Company International
Petroleum Exploration – 08 Risk Assessment | 2011 | 23
Economic Evaluation
Оцінка економічності
From: Devon Modified from USGS and Simmons & Company International
Petroleum Exploration – 08 Risk Assessment | 2011 | 24
No Oil Discovery Without Drilling Без буріння не відкрити
нафтового родовища
From: Devon Modified from USGS and Simmons & Company International
Drilling bit
Drilling rig
Petroleum Exploration – 08 Risk Assessment | 2011 | 25
Continue with Chapter 09 – Petroleum Contracts
Wolfgang Nachtmann � RAG � Wien
wolfgang.nachtmann@rag-austria.at
Petroleum Exploration –09 Petroleum Contracts
Розвідка нафти и газу –09 Контракти по нафті та газу
Вольфганг Нахтманн
Wolfgang Nachtmann � RAG � Wien
Petroleum Exploration – 09 Petroleum Contracts | 2011 | 2
The Joint Venture Concept
Концепція спільного підприємства
JV parties agree to develop, for a finite time, a new entity and new assets by contributing equity. They both exercise control over the enterprise and consequently share revenues, expenses and assets.
The term JV refers to the purpose of the entity and not to a type of entity . Therefore, a joint venture may be a corporation, a limited liability enterprise, a partnership or other legal structure, depending on a number of considerations such as tax and tort liability.
JVs are normally formed both inside one's own country and between firms belonging to different countries. JVs are usually formed in order to combine strengths or to bypass legal restrictions within a country ; for example an insurance company cannot market its policies through a banking company. Some JVs are also formed because the law of a country allows dispute settlement, should it occur, in a third country. They are also formed to minimize business, tax and political risks . The JV is an alternative to the parent-subsidiary business partnership in emerging countries, discouraged, on account of (a) ignoring national objectives (b) slow-growth (c) parental control of funds and (d) disallowing competition.
Petroleum Exploration – 09 Petroleum Contracts | 2011 | 3
(Other) Reasons for Forming a Joint Venture
(Інші) причини формування спільного підприємства
• reducing 'entry' risks by using the local partner's assets
• inadequate knowledge of local institutional or legal environment
• access to local borrowing powers
• perception that the goodwill of the local partner is carried forward
• in strategic sectors, the county's laws may not permit foreign nationals to operate alone
• access to local resources through participation of national partner
• influence of local partners on government officials or 'compulsory' requisite
• access by one partner to foreign technology or expertise, often a key consideration of local parties (or through government incentives for the mechanism)
• again, through government incentives, job and skill growth through foreign investment
• incoming foreign exchange and investment.
Petroleum Exploration – 09 Petroleum Contracts | 2011 | 4
What Is A Contract – Why Do We Need It?
Що таке контракт – Навіщо він нам потрібен?
• Company is prepared to• accept technical and economic risks• provide investment funds• support with know-how and technological skills
• Company expects• fair risk / reward relationship• fair rate of return on capital• management of agreed program
Petroleum Contract formalizes this situation, subjectto the local legislation
Petroleum Exploration – 09 Petroleum Contracts | 2011 | 5
What Is A Legislation?
Що таке законодавство?
• Petroleum Law• when specific legislation regarding petroleum exists, the terms and conditions of a petroleum contract are to a greater or lesser degree fixed and established bysuch legislation (e.g. in the form of a model contract)
• General fiscal legislation• e.g. taxation laws
Petroleum Exploration – 09 Petroleum Contracts | 2011 | 6
What Is A Petroleum Contract?
Що таке нафтогазовий контракт?
Arrangement between a government or NOC witha private company
• gives exploration / production rights for hydrocarbons
It addresses the following key issues• control over and management of petroleum operations• investments
• commitments to invest• protection of the investments
• distribution of profits between the parties
Petroleum Exploration – 09 Petroleum Contracts | 2011 | 7
Forms of Petroleum Contracts
Форми нафтогазових контрактів
Concession Agreements • commonly referred to as Royalty / Tax regime
Production Sharing Agreements (PSA or PSC)• cost oil and profit oil
Buy-Back Contracts• IOC executes development phase only
Risk Service Contracts• NOC exclusive crude buyer at reduced price
Margin Systems• fixed margin per barrel produced
Technical Service Agreements (TSA)• cost plus profit margin reimbursed by NOC
Petroleum Exploration – 09 Petroleum Contracts | 2011 | 8
Concession Agreements – Royalty / Tax System
Коцесійна угода – плата за корист. надрами / податкова система
Petroleum Exploration – 09 Petroleum Contracts | 2011 | 9
Concession Agreement – Taxes
Концесійна угода – податки
Petroleum Exploration – 09 Petroleum Contracts | 2011 | 10
Production Sharing Agreement
Угода про розподіл продукції
Petroleum Exploration – 09 Petroleum Contracts | 2011 | 11
PSA Principles
Принципи угоди про розподіл продукції (УРП)
Petroleum Exploration – 09 Petroleum Contracts | 2011 | 12
PSA Excess Cost & Profit Oil Split
Надмірні витрати УРП та розподіл нафтового прибутку
Petroleum Exploration – 09 Petroleum Contracts | 2011 | 13
PSA – Cost Oil
УРП – витрати на нафту
Petroleum Exploration – 09 Petroleum Contracts | 2011 | 14
PSA Profit Oil
УРП прибуток з нафти
Petroleum Exploration – 09 Petroleum Contracts | 2011 | 15
PSA Excess Cost Oil Split – Example from Georgia
УРП надмірні витрати, розподіл нафти – на прикладі Грузії
Company
Petroleum Exploration – 09 Petroleum Contracts | 2011 | 16
Equivalence of Royalty / Tax and PSA
Еквівалент плати за надри / податки та УРП
Petroleum Exploration – 09 Petroleum Contracts | 2011 | 17
Forms of Government Take
Форми державних зборів
Petroleum Exploration – 09 Petroleum Contracts | 2011 | 18
Contracts and Legislation
Контракти та законодавство
Petroleum Exploration – 09 Petroleum Contracts | 2011 | 19
Exploration Contracts
Контракти на розвідку
Petroleum Exploration – 09 Petroleum Contracts | 2011 | 20
Ownership of Assets
Володіння активами
• ROYALTY / TAX (CONCESSION) SYSTEM• all assets owned by contractor• contractor controls disposition
• PRODUCTION SHARING CONTRACT• title rests with host government• title may pass to government at payout• host government title limited to contract assets• subcontractors protected
• SERVICE CONTRACTS• title rests with host government• host government title limited to contract assets• subcontractors protected
Petroleum Exploration – 09 Petroleum Contracts | 2011 | 21
Concerns of Contracting Parties
Залучення контракторів
Petroleum Exploration – 09 Petroleum Contracts | 2011 | 22
Farm-In Agreements
Угоди отримання частки (участі)
Typically, a company will acquire an interest in an area either by direct application to the relevant government authority or by „farming-in“to the interest of an existing interest holder. Farm-in agreements are very common in the industry where an incoming party may acquire or „earn“ an interest from an existing party:
• provide exploration & development funds• assume exploration risk – drill well(s), shoot seismic• create overriding royalty interest (ORRI)• cost recovery – payout• „reversion clause“ leads to joint venture• PSA is a farm-out
Petroleum Exploration – 09 Petroleum Contracts | 2011 | 23
Joint Operating Agreements and Accounting Procedures
Угоди про спільну діяльність та облікові процедури
The joint operating agreement is the agreement typically used by joint venture participants to govern the relations between them. Key provisions of a „typical“ joint operating agreement include:
• relationship between the PSC and a JOA• relationship between the contractor parties• appointment and removal of the operator• duties of operator• role of operating committee• voting procedures• programs and budgets• expenditure control procedures – AFE‘s and cash calls• default• assignment and rights of pre-emption• abandonment• sole risk operations• dispute resolutions• JOA accounting procedures
Petroleum Exploration – 09 Petroleum Contracts | 2011 | 24
Negotiation Concluded
Результат переговорів
when contract negotiations are completed both parties must be winners
після завершення переговорів, щодо контракту, обидві сторони мають
бути переможцями
Petroleum Exploration – 09 Petroleum Contracts | 2011 | 25
Continue with Chapter 10 – Unconventional Resources
Petroleum Exploration – 10 Unconventional Resources
Разведка нефти и газа – 10 нетрадиционные ресурсы
Oil Shale, Estonia
Вольфганг Нахтманн
Wolfgang Nachtmann � RAG � Wien
wolfgang.nachtmann@rag-austria.at
Petroleum Exploration – 10 Unconventional Resources | 2011 | 2
Conventional vs. Unconventional Reservoirs
Традиционые коллекторы в сравнении с нетрадиционными
ТрадиционныеТрадиционные коллекторыколлекторы::
Пласты, которые можно
разрабатывать при экономичномдебите и извлекать промышленныеобъемы нефти и газа, не прибегая кмассивной интенсификациипритока, специальным процессамизвлечения или передовойтехнологии.
НеНетрадиционныетрадиционные коллекторыколлекторы::
Пласты, при разработке которых
невозможно ни достичьэкономичного дебита, ни извлечьпромышленные объемы нефти игаза без привлечения значительнойинтенсификации притока или жеспециальных процессов итехнологии, способствующихизвлечению.
Conventional ReservoirConventional Reservoir::
Reservoirs that can be produced at economic flow rates and recover economic volumes of oil and gas without the need for massive stimulation treatments, special recovery processes, or leading edge technology.
Unconventional Reservoirconventional Reservoir::
Reservoirs that can not be produced at economic flow rates nor recover economic volumes of oil and gas unless large stimulation treatments or special recovery processes and technologies are applied to assist recovery.
Petroleum Exploration – 10 Unconventional Resources | 2011 | 3
Conventional versus Unconventional Resource Plays
Области традиционных ресурсов в сравнении с областяминетрадиционных ресурсов
http://www.hydro.mb.ca/news/insights/issues.shtml
Petroleum Exploration – 10 Unconventional Resources | 2011 | 4
What Is An Unconventional Resource Play?
Что такое область нетрадиционных ресурсов?
ОбластьОбласть нетрадиционныхнетрадиционных ресурсовресурсов:
Регионально расширенная область
углеводородов, которая встречается в пределахпрямого пути миграции углеводородов, прилегая к (или внутри) материнской породеуглеводородов “нефтегазоносной системы”
Такие области, как правило, встречаются внутрисложных коллекторов, которые включают:
� “ абсорбированный углеводородный”компонент, возникающий втройной/двойной системе пористости идвойной системе проницаемости
� со “ свободными” углеводородами и“ абсорбированными” углеводородами
Такие ОНР зачастую встречаются в пластах со
слабой или очень низкой пористостью, чтоподразумевает раздробленные или подходящие
для разрыва/дробления:
• низкопроницаемый песчаник
• карбонаты
• сланец
• уголь
Unconventional Resource PlayUnconventional Resource Play :
A regionally extensive hydrocarbon play that occurs within a direct hydrocarbon migration pathway adjacent to/or within the hydrocarbon source rock of a “petroleum system”
These plays usually occur within complex reservoirs that include:
− “adsorbed hydrocarbon” component resulting in triple/dual porosity and dual permeability systems
− with “free” hydrocarbons and “adsorbed”hydrocarbons
These URPs most often occur within tight or extremely low porous reservoirs that include fractured or fracturable :
• tight sands
• carbonates
• shales
• coals
Petroleum Exploration – 10 Unconventional Resources | 2011 | 5
The Resource Pyramid
Пирамида ресурсов
� Characterization� Reservoir Knowledge� Hydraulic fracturing� Stimulation� Horizontal Drilling� Drilling Fluids� 3D Seismic� Microseismic
Technical Focus:Creating and utilizing
technological advances
Petroleum Exploration – 10 Unconventional Resources | 2011 | 6
Shale Gas Reservoir – Fresh Core Sample
Пласты сланцевого газа – образец керна
Foto: RAG
Degassing features
Petroleum Exploration – 10 Unconventional Resources | 2011 | 7
Shale Gas Concept
Концепция сланцевого газа
Концепция сланцевогогаза
• Накопление газа в горизонте материнской
породы – нет необходимости в
традиционной структуре.
• Успешность разведки зависит от
параметров фаций (см. следующий слайд).
• Успешность разработки зависит от
комбинации
• бурения (преимущественно
горизонтального, внутрисланцевого горизонта) и
• массивного многократного
разрыва пласта (несколькоступеней, часто синхронно, изприлегающего ствола скважины).
• Ноу-хау состоит в оптимальномиспользовании / комбинации уже
существующей технологии
Petroleum Exploration – 10 Unconventional Resources | 2011 | 8
Shale Gas in the United States
Сланцевый газ в США
Petroleum Exploration – 10 Unconventional Resources | 2011 | 9
Shale Gas Success Factors
Сланцевый газ: факторы успешности
Сланцевый газ – факторы успешности (опыт США)
� Структура породы (кварц, карбонат, глинистые минералы)
� Общее сождержание органического углерода (TOC>2%) и тип
керогена
� Термическая зрелость (показатель отражения витринита R0)>1%
� Толщина (>100 футов / 30 метров)
� Пластовое давление (более высокое давление приводит кповышению добычи)
� Механические свойства породы (хрупкость)
� Реакция на флюиды (жидкость для гидроразрыва, стимуляция)
Преимущества сланцевого газа, США
• Очень большие резервы и ресурсы газа
• Великолепные ноу-хау для малых и среднихпредприятий США
• Образованные в США области – все гиганты (вкл. Европу) пытаются получить права
• Индустрия крупного сервиса
• Быстрое освоение бурения
• Бизнес-модель «тип разработки» (деятельностьможет согласовываться с ценой на газ)
Критические факторы - сланцевый газ, США
• Все сланцы разные – некоторые неуспешные
• Многие критические параметры должнысоответствовать требованиям
• Значительные и продолжительные объемы работ
• Расход на единицу выше, чем за трад. газ
• Резкое снижение добычи требует постоянногобурения
• Экономичность – влияние добычи, кол-васкважин, расходов на скважину
Petroleum Exploration – 10 Unconventional Resources | 2011 | 10
Type Profile of Shale Gas Production from a Single Well
График добычи сланцевого газа из одиночной скважины
0
5
10
15
20
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20Year
Ann
ual P
rodu
ctio
n (
mln
m3 )
0%
10%
20%
30%
40%
50%
60%
Dec
line
Rat
e
Petroleum Exploration – 10 Unconventional Resources | 2011 | 11
Shale Gas Plays, Lower 48 States (Status 2010)
Области сланцевого газа, США (информация на 2010)
In 2010 some 25% of the US domestic gas production came from Shale gas reservoirs
Petroleum Exploration – 10 Unconventional Resources | 2011 | 12
Shale Gas Provinces in Europe
Разведывательная деятельность по сланцу в нескольких странах Европы
Petroleum Exploration – 10 Unconventional Resources | 2011 | 13
CERA: Potential Surprise?— Unconventional Gas in Europe
Кэмбр. эн. исслед. ассоц.: потенц. сюрприз? – нетрадиционный газ в Европе
Source: Cambridge Energy Research Associates.90113-2
UK-Ireland
Netherlands
Others
0
50
100
150
200
250
2005 2010 2015 2020 2025 2030
Bcm
� Unconventional gas needs to be onshore
� CERA estimates European shale resources between c. 3000 - 12000 BCM —more than double remaining onshore resources
� Unconventional gas might add 50 BCM+ of gas production by 2030 on top of traditional projections
� Unconventional gas may slow indigenous decline—but will not reverse it
EU Indigenous Gas Production
Estimated Shale Resources in Europe
Unconventional Gas Potential post-2020?
0
5,000
10,000
15,000
20,000
Low Estimate High Estimate
Shale GasRecoverable
ResourcePotential
(Bcm)
Europe RemainingConventional Gas
Europe DiscoveredConventional Gas
Europe RemainingOnshore Conventional Gas
Petroleum Exploration – 10 Unconventional Resources | 2011 | 14
Geological Frame of Shale Gas Plays in Poland
Геологическая основа залежей сланцевого газа в ПольшеS
haleG
as
Petroleum Exploration – 10 Unconventional Resources | 2011 | 15
Lower Paleozoic of the Baltic Basin
Нижний Палеозой Балтийского бассейна
Petroleum Exploration – 10 Unconventional Resources | 2011 | 16
Thermal Maturity (R0) at Top Lower Silurian
Термическая зрелость (R0) в верхней части Нижнего Силура
Petroleum Exploration – 10 Unconventional Resources | 2011 | 17
Shale Gas Provinces in Ukraine
Провинции сланцевого газа в Украине
Sachsenhofer & Koltun, 2011
Petroleum Exploration – 10 Unconventional Resources | 2011 | 18
Breaking Fuel From the Rock – Operations in Marcellus Shale
Схема бурения и воздействия на пласт
http://news.nationalgeographic.com/news/2010/10/101022-breaking-fuel-from-the-rock/
Petroleum Exploration – 10 Unconventional Resources | 2011 | 19
Barnett Shale: Frac Technology Over Time
Барнетт-сланец: развитие технологии разрыва
Massive Hydraulic Frac Massive Hydraulic Frac
TechnologyTechnology
• 1982 - 1998
Slick Water Frac TechnologySlick Water Frac Technology
• 1999 - present
• Higher initial rates
• Greater reserves
• Significantly lower costs (~50%)
• Re-fracs of massive hydraulic fractured wells
• Significantly enhanced economics0
5
10
15
20
25
30
0 10 20 30 40 50 60
MONTHS
AV
G M
ON
TH
LY R
AT
E, M
MC
FM
0
0.3
0.6
0.9
1.2
1.5
GEL FRACSGEL FRACS LIGHT SAND FRACSLIGHT SAND FRACS RATIORATIO
Higher ProductionHigher ProductionRates withRates with
a Cost Reductiona Cost Reductionof ~50% of ~50%
Petroleum Exploration – 10 Unconventional Resources | 2011 | 20
Hydraulic Fracturing With Large Volumes of Water
Гидроразрыв с большими объемами воды
Photo: Bridgeport Tank Trucks
Petroleum Exploration – 10 Unconventional Resources | 2011 | 21
Barnett Shale: Horizontal Well Performance
Барнетт-сланец: горизонтальная скважина
0
1,000
2,000
3,000
4,000
0 200 400 600 800 1000 1200
DAYS
Ave
rage
Rat
e, M
CF
D
0.0
1.0
2.0
3.0
4.0
Hor
izon
tal:V
ertic
al R
ate
Rat
io
Average Rate – Horizontal Well Average Rate – Vertical Well Ratio
Petroleum Exploration – 10 Unconventional Resources | 2011 | 22
Petroleum Exploration – 10 Unconventional Resources | 2011 | 23
Analogy between Paris Basin and Williston Basin
Аналогия между Парижским и Уиллистонским бассейнами
Source: Toreador
Petroleum Exploration – 10 Unconventional Resources | 2011 | 24
Gas Hydrates
Газогидраты
Gas hydrates form in the low-temperature, high-pressure environment of deep water. The most abundant form of hydrocarbon in the Earth’s oceans, gas hydrates promise to be a significant source of future energy.
http://www.slb.com/news/inside_news/2010/2010_0719_gas_hydrates.aspx
Petroleum Exploration – 10 Unconventional Resources | 2011 | 25
Gas Hydrates – Capacity to Trap It
Газогидраты – мощности для захвата газа
Capacity to Trap Gas
Hydrate forms as cement in the pore spaces of sediment as well as in layers and nodules of pure hydrate . Hydrates also seem to have the capacity to fill sediment pore space and reduce permeability, so that hydrate-cemented sediments act as seals for gas traps.
Gas hydrates are stable at the temperatures and pres sures that occur in ocean-floor sediments at water depths greater than about 500 meters, and at these pressures they are stable at temperatures above those for ice stability . Gas hydrates also are stable in association with permafrost in the polar regions, both in offshore and onshore sediments. Gas hydrates bind immense amounts of methane in sea-floor sediments. Hydrate is a gas concentrator ; the breakdown of a unit volume of methane hydrate at a pressure of one atmosphere produces about 160 unit volumes of gas. The worldwide amount of methane in gas hydrates is considered to contain at least 1x104 gigatons of carbon in a very conservative estimate). This is about twice the amount of carbon held in all fossil fuels on earth.
Gas hydrate concentration occurs at depocenters, probably because most gas in hydrate is from biogenic methane , and therefore it is concentrated where there is a rapid accumulation of organic detritus (from which bacteria generate methane) and also where there is a rapid accumulation of sediments (which protect detritus from oxidation).
Petroleum Exploration – 10 Unconventional Resources | 2011 | 26
CBM – Coal Bed Methane
CBM – метан угольных пластов
China: CBM will make up one-third of unconventional gas supply by 2030, account for 14% of total domestic supply despite slow production growth
http://www.ogfj.com/index/article-display/3842034339/articles/oil-gas-financial-journal/unconventional/international-unconventional/china_-cbm_will_make.html
Petroleum Exploration – 10 Unconventional Resources | 2011 | 27
CBM – Coal Bed Methane
CBM – метан угольных пластов
Coalbed methane (CBM) or Coal Bed Methane [1] or coalbed gas is a form of natural gas extracted from coal beds. In recent decades it has become an important source of energy in United States, Canada, and other countries. Australia has rich deposits where it is known as coal seam gas (abbreviated "CSG"[1]).
The term refers to methane adsorbed into the solid matrix of the coal. It is called 'sweetgas' because of its lack of hydrogen sulfide. The presence of this gas is well known from its occurrence in underground coal mining, where it presents a serious safety risk. Coalbedmethane, often referred to as CBM, is distinct from a typical sandstone or other conventional gas reservoir, as the methane is stored within the coal by a process called adsorption. The methane is in a near-liquid state, lining the inside of pores within the coal (called the matrix). The open fractures in the coal (called the cleats) can also contain free gas or can be saturated with water.
Unlike much natural gas from conventional reservoirs, coalbed methane contains very little heavier hydrocarbons such as propane or butane, and no natural gas condensate. It often contains up to a few percent carbon dioxide. Some coal seams, such as those in certain areas of the Illawarra Coal Measures in NSW, Australia, contain little methane, with the predominant coal seam gas being carbon dioxide.
Petroleum Exploration – 10 Unconventional Resources | 2011 | 28
CBM – Coal Bed Methane
CBM – метан угольных пластов
What is shallow coal bed methane (CBM) and how is it developed ?
CBM development is the process of extracting methane gas trapped in underground coal seams. The process involves using a drilling rig similar to those used to drill water wells. Exploration & production involves drilling multiple wells in a given area, removing the water from the coal seams using pumps while simultaneously pumping and gathering the low pressure, odorless, pure methane gas that is emitted by the coal seams as the water is removed.
http://www.cookinletoilandgas.org/kpb/issues.htm
Petroleum Exploration – 10 Unconventional Resources | 2011 | 29
Gas in Sandstone versus Coal
Газ в песчанике в сравнении с углем
©2005 -- These slides are the property of the Oklahoma Geological Survey.
Petroleum Exploration – 10 Unconventional Resources | 2011 | 30
Gas in Sandstone versus Coal
Газ в песчанике в сравнении с углем
©2005 -- These slides are the property of the Oklahoma Geological Survey.
Petroleum Exploration – 10 Unconventional Resources | 2011 | 31
CBM – Adsorbed Gas Coal
CBM – адсорбированный газ
Petroleum Exploration – 10 Unconventional Resources | 2011 | 32
CBM in Ukraine
CBM в Украине
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CBM in the USA
CBM в США
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Heavy Oil
Тяжелая нефть
Heavy oil is oil which has biodegraded as a result of bacterial activity as the hydrocarbon migrates to shallower, cooler depths. It is very viscous and does not flow easily, with viscosity ranging from 10 to 10,000 centipoises (or cp), and API gravity between 10°and 20°. Extra-heavy oil has les s than 10°API gravity with viscosity over 10,000 cp (as a comparison, the cp of water is 1, cream about 20, motor oil is 100, and corn syrup is 10,000). Heavy oil reservoirs are characterized by low initial recovery factors, often less than 10% recovery.
Operators are attracted to the exploitation of heavy oil deposits as a method of boosting reserves and stabilizing production for a number of reasons. Their location and extent are relatively well known and they offer long field life, with stable, predictable production rates and the use of ‘assembly line' methods. Many fields are located near infrastructure and large markets. They also offer good upside potential to boost recoveries through new technologies and are considered by the industry to be ‘low risk'.The downsides to heavy oil production are the low recovery rates and the fact that the high density and low viscosity present problems requiring different types of enhanced oil recovery methods and expensive specialist technology.
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Heavy Oil: A Solution to Dwindling Oil Supplies
Тяжелая нефть: возможность сокращения поставок нефти
http://www.petroleumequities.com/HeavyOilReport.htm
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Heavy Oil Occurances
Нефтенасыщенность: тяжелая нефть
Heavy and extra-heavy oil deposits are widespread, occurring in 127 basins according to the USGS. Nearly 4,800 billion barrels of bitumen and ‘heavy oil’ have been identified worldwide. Source: IHS compiled from published sources
Other important heavy oil resources have been identified in North America, the Former Soviet Union, the Middle East and China. Outside North America and Venezuela, the IHS database identifies 1,620 heavy oil fields (20°API gravity o r less) with 134 Bbo of P2 net recoverable heavy oil reserves. Source: IHS
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Tar or Oil Sands
Смола или нефтеносный песчаник
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Alberta Oil Sands
Нефтеносный песчаник, Альберта
Alberta's oil sands contain the biggest known reserve of oil in the world. An estimated 1.7 to 2.5 trillion barrels of oil are trapped in a complex mixture of sand, water and clay. The most prominent theory of how this vast resource was formed suggests that light crude oil from southern Alberta migrated north and east with the same pressures that formed the Rocky Mountains. Over time, the actions of water and bacteria transformed the light crude into bitumen, a much heavier, carbon rich, and extremely viscous oil. The percentage of bitumen in oil sand can range from 1% -20%. The oil saturated sand deposits left over from ancient rivers in three main areas, Peace River, Cold Lake and Athabasca. The Athabasca area is the largest and closest to the surface, accounting for the large-scale oil sands development around Fort McMurray.
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Oil Sands – In Situ Recovery Techniques
Нефтеносный песчаник – техники извлечения в пласте
About 80% of the oil sands in Alberta are buried too deep below the surface for open pit mining. This oil must be recovered by in situ techniques. Using drilling technology, steam is injected into the deposit to heat the oil sand lowering the viscosity of the bitumen. The hot bitumen migrates towards producing wells, bringing it to the surface, while the sand is left in place ("in situ" is Latin for "in place"). Steam Assisted Gravity Drainage (SAGD) is a type of in situ technology that uses innovation in horizontal drilling to produce bitumen. In situ technology is expensive and requires certain conditions like a nearby water source. Production from in situ already rivals open pit mining and in the future may well replace mining as the main source of bitumen production from the oil sands.
Challenges facing in situ process are efficient recoveries, management of water used to make steam, and co-generation of all (otherwise waste) heat sources to minimize energy costs. Other methods of in situ recovery look promising, and are in research stages of development.
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Conventional versus Unconventional Oil
Традиционная нефть в сравнении с нетрадиционной
http://www.osnrs.com/future.html
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World Oil Reserves incl. Unconventional Reserves
Світові резерви нафти вкл. нетрадиційні резерви
A similar chart amended to include USGS estimates of ultimately recoverable oil reserves presents a more accurate impression of overall world oil reserves.
The "unconventional" oil reserve of South America is the Venezuelan Orinoco heavy oil belt with one to four trillion (with a "T") barrels of oil.
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