A Review of Exploration, Development, and Production Cost Offshore Newfoundland

Kaiser, Mark J.

doi:10.1007/s11053-020-09784-3

Cited by 14 publications

(7 citation statements)

References 7 publications

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“…On the other hand, oil and gas exploration and production projects can also generate astronomical costs. For example, from 1966 to 2019, operators have spent a total of CAD 84 bn on exploration, development and production activities offshore of Newfoundland and Labrador (Kaiser, 2021). Gas "fracking" in the US and the Canadian oil or tar sands are also examples of very costly projects (Ihejirika, 2019).…”

Section: Research Methodology Setupmentioning

confidence: 99%

Financial flows of five leading banks in Sweden since the Paris Agreement: a report for the Swedish Environmental Protection Agency.

Sajtos¹,

Marbuah²,

Maltais³

2022

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Section: Research Methodology Setupmentioning

confidence: 99%

Financial flows of five leading banks in Sweden since the Paris Agreement: a report for the Swedish Environmental Protection Agency.

Sajtos¹,

Marbuah²,

Maltais³

2022

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“…By rough estimates, an offshore platform that weight around 30,000 t could cost around 350-500 million dollars, plus another 60-120 million dollars for three tugboats. However, there are various studies that cover the accounting and costing of oil facilities and the financial aspect of project management [240][241][242][243][244][245][246][247][248][249][250][251].…”

Section: Pricing Offshore Projectsmentioning

confidence: 99%

Review on Fixed and Floating Offshore Structures. Part II: Sustainable Design Approaches and Project Management

Amaechi

Reda

Butler

et al. 2022

JMSE

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Offshore structures exist in a variety of forms, and they are used for a variety of functions in varied sea depths. These structures are tailored for certain environments and sea depths. Different actions for suitable equipment selection, platform type design, and drilling/production processes are required for the applications of these offshore structures, as given in Part I. This paper is the second part, which outlines various processes, loads, design approaches and project management of offshore platforms. To achieve these, proper planning must be conducted for lifting, transportation, installation, design, fabrication, and commissioning of these offshore platforms. Some historical developments of some offshore structures are presented, and some project planning routines are undertaken in this research. The ultimate goal is to provide a general overview of the many processes of offshore platform design, construction, loadout, transportation, and installation. Some discussions on the design parameters such as water depth and environmental conditions were presented. It also lists various software programs used in engineering designs. The review also includes information on cutting-edge offshore platforms and industry advancements. Ultimately, for long-term operations, various types of offshore platforms for specific seawater depths are available.

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“…The model assumes that the production equipment is already in place, so the additional costs include installation of injection equipment, conversion of production wells to injection, injection equipment, permitting, compression and treatment of the natural gas. The cost of converting an existing well to an injection well is almost 1/3 of the cost of drilling a new well 22,67,68 gives the cost of an offshore well as about ZAR 22 210 million. The cost of monitoring CO 2 storage is estimated to be ZAR 22 0.2922/tCO 2 based on the study by McCoy 69 .…”

Section: Economic Modelmentioning

confidence: 99%

Full‐scale simulation of a nearly depleted gas field in South Africa for carbon utilisation and storage

et al. 2022

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Enhanced gas recovery (EGR) is a recognised CO2 utilisation technique that can reduce the cost of carbon storage and improve its economic feasibility. Although there are many studies on the potential of depleted gas fields for CO2 storage, there has not been a comprehensive full‐scale study that can analyse different aspects of carbon utilisation together with the potential of storage, from reservoir characterisation to modelling and economic evaluation. The aim of this study is to develop a benchmark for assessing the technical and economic feasibility of carbon utilisation and storage in abandoned and nearly depleted gas fields. A depleted gas field from the Bredasdorp Basin in South Africa was selected for CO2‐EGR and storage, given the availability of data and infrastructure. The reservoir of interest is divided into compartments, with this study focusing exclusively on compartment C1. The gas in place (Gi) in compartment C1 was 5.8E+08 MSCF, which was reduced to 3.33E+08 MSCF at the end of the primary production phase. The results obtained indicated that the gas reservoir is very heterogeneous, and a recovery of 20% can be achieved if the injection and production rates are 500 and 3000 MSCF/day, respectively. The amount of CO2 injected after 71 years was about 7.78E+07 MSCF. It was shown that the CO2 in this field can be injected for 71 years without causing problems with the integrity of the reservoir. The economic model was built assuming a project duration of 10 years. The model shows that the total cost of carbon capture, transport and storage is higher than the total revenue for 8 years of natural gas utilisation, which means that the amount of gas recovered from compartment C1 of the reservoir could not offset the cost of CCUS. It is recommended that additional data be collected for the C2 compartment, the carbon capture processes at the Mossel Bay GTL plant, and pipeline transportation to reduce the uncertainty of the proposed economic model. © 2022 Society of Chemical Industry and John Wiley & Sons, Ltd.

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A Review of Exploration, Development, and Production Cost Offshore Newfoundland

Cited by 14 publications

References 7 publications

Financial flows of five leading banks in Sweden since the Paris Agreement: a report for the Swedish Environmental Protection Agency.

Financial flows of five leading banks in Sweden since the Paris Agreement: a report for the Swedish Environmental Protection Agency.

Review on Fixed and Floating Offshore Structures. Part II: Sustainable Design Approaches and Project Management

Full‐scale simulation of a nearly depleted gas field in South Africa for carbon utilisation and storage

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