Multilateral wells promise cost savings to oil and fields as they have the potential to reduce overall drilling distances and minimize the number of slots required for the surface facility managing the well.However,dr...Multilateral wells promise cost savings to oil and fields as they have the potential to reduce overall drilling distances and minimize the number of slots required for the surface facility managing the well.However,drilling a multilateral well does not always increase the flow rate when compared to two single-horizontal wells due to competition in production inside the mother-bore.Here,a holistic approach is proposed to find the optimum balance between single and multilateral wells in an offshore oil development.In so doing,the integrated approach finds the highest Net Present Value(NPV)configuration of the field considering drilling,subsurface,production and financial analysis.The model employs stochastic perturbation and Markov Chain Monte-Carlo methods to solve the global maximising-NPV problem.In addition,a combination of Mixed-Integer Linear Programming(MILP),an improved Dijkstra algorithm and a Levenberg-Marquardt optimiser is proposed to solve the rate allocation problem.With the outcome from this analysis,the model suggests the optimum development including number of multilateral and single horizontal wells that would result in the highest NPV.The results demonstrate the potential for modelling to find the optimal use of petroleum facilities and to assist with planning and decision making.展开更多
Based on oil development costs, the application research in the technical and economic limits calculation of oil development and the production optimal allocation to all the oilfields, was finished. At the same time, ...Based on oil development costs, the application research in the technical and economic limits calculation of oil development and the production optimal allocation to all the oilfields, was finished. At the same time, according to the regression of real development costs, a new method for oil well economic water cut and oil well economic rate are set up, the production optimal allocation is developed with satisfactory results.展开更多
In the global wave of energy transition and low-carbon development,China Petroleum Enterprise Association,together with the University of International Business and Economics,China University of Petroleum-Beijing,Sout...In the global wave of energy transition and low-carbon development,China Petroleum Enterprise Association,together with the University of International Business and Economics,China University of Petroleum-Beijing,Southwest Petroleum University,and other institutions,released four significant blue books on April 17:Annual Operating Report of China’s Natural Gas Industry Blue Book(2024-2025),China Oil&Gas Industry Development Analysis and Outlook Blue Book(2024-2025),China Low-Carbon Economy Development Report Blue Book(2024-2025),and Refined Oil and New Energy Development Report Blue Book(2024-2025).This series of blue books provides a comprehensive and high-level analysis of the development,issues,and trends in the oil and gas industry,offering a detailed depiction of the China Oil&Gas industry and its progress towards low-carbon development.展开更多
This paper presents an analysis of four aspects,including the distribution and production of global oil and gas fields,the distribution and changes of remaining recoverable reserves,the differences in oil and gas prod...This paper presents an analysis of four aspects,including the distribution and production of global oil and gas fields,the distribution and changes of remaining recoverable reserves,the differences in oil and gas production between regions/countries,and the development potentials of oil and gas fields unproduced and to be produced in 2023.On this basis,the situation and characteristics of global oil and gas development are expounded,and the trend of global oil and gas development is summarized.In 2023,upstream oil and gas production landscape is expanding,and the number of oil and gas fields in production is increasing significantly;oil and gas recoverable reserves increased year-on-year,driven by significant contributions from new discoveries and reserve re-estimates;the overall oil and gas production grew continuously,with notable contributions from new projects coming online and capacity expansion efforts;and the oil and gas fields unproduced or to be produced,especially large onshore conventional oil fields and economically challenging offshore gas fields,host abundant recoverable reserves.From the perspectives of reshaping oil and gas production areas due to the pandemic and Russia-Ukraine conflicts,geopolitical crises,capital expenditure structures in petroleum exploration and development,and the proactive layout of oil and gas associated resources,the trend of global oil and gas development in 2023 was analyzed systematically.The enlightenment and suggestions in four aspects are proposed for Chinese oil companies to focus on core businesses and clarify development strategies in the post-pandemic era and the context of energy transition:The global oil and gas landscape is undergoing profound adjustments,and it is essential to grasp development trends,especially in core businesses;upstream business exhibits a strong potential,and emerging fields are considered as new growth poles;the prospects for tight/shale oil and gas are promising,and new pathways to ensure national energy security are explored;cutting-edge breakthroughs are achieved in emerging industries of strategic importance,and a comprehensive energy collaboration system for supply security is established.展开更多
The shale oil and gas exploitation in China is technically benchmarked with the United States in terms of development philosophy,reservoir stimulation treatment,fracturing parameters,fracturing equipment and materials...The shale oil and gas exploitation in China is technically benchmarked with the United States in terms of development philosophy,reservoir stimulation treatment,fracturing parameters,fracturing equipment and materials,oil/gas production technology,and data/achievements sharing.It is recognized that the shale oil and gas exploitation in China is weak in seven aspects:understanding of flow regimes,producing of oil/gas reserves,monitoring of complex fractures,repeated stimulation technology,oil/gas production technology,casing deformation prevention technology,and wellbore maintenance technology.Combined with the geological and engineering factors of shale oil and gas in China,the development suggestions of four projects are proposed from the macro-and micro-perspective,namely,basic innovation project,exploitation technology project,oil/gas production stabilization project,and supporting efficiency-improvement project,so as to promote the rapid,efficient,stable,green and extensive development of shale oil and gas industry chain and innovation chain and ultimately achieve the goal of“oil volume stabilizing and gas volume increasing”.展开更多
By analyzing the distribution of global oil and gas fields and the reasons why some oil and gas fields are not in production, the distribution characteristics of oil and gas remaining recoverable reserves and their ye...By analyzing the distribution of global oil and gas fields and the reasons why some oil and gas fields are not in production, the distribution characteristics of oil and gas remaining recoverable reserves and their year-on-year changes, the distribution characteristics of oil and gas production and their year-on-year changes, and the development potential of oil and gas to be tapped in 2021, this paper sorts out systematically the current status and characteristics of global oil and gas development, summaries the major trends of global oil and gas development, puts forward enlightenment for international oil and gas cooperation. In 2021, oil and gas fields were widely distributed, the number of non-producing oil and gas fields was large;the whole oil and gas remaining recoverable reserves declined slightly, unconventional oil and gas remaining recoverable reserves dropped significantly;the overall oil and gas production continuously increased, the outputs of key resource-host countries kept year-on-year growth;undeveloped oilfields had abundant reserves and great development potential. Combined with global oil and gas geopolitics, oil and gas industry development trends, oil and gas investment intensity, and the tracking and judgment of hotspot fields, the major trends of global oil and gas development in 2021 are summarized. On this basis, the four aspects of enlightenment and suggestions for international oil and gas cooperation and development strategies are put forward: attach great importance to the obligation of marine abandonment to ensure high-quality and long-term benefit development of offshore oil and gas;adhere to the principle of not going to dangerous and chaotic places, strengthen the concentration of oil and gas assets, and establish multi stable supply bases;based on the multi-scenario demand of natural gas, realize the transformation from integrated collaboration to full oil and gas industry chain development;increase the acquisition of high-quality large-scale assets, and pay attention to the continuous optimization of the shareholding ratio of projects at different stages.展开更多
Bargaining between the host country and oil companies is very common to international oil and gas development projects.The existence of information asymmetry gives the host country an endogenous bargaining advantage.F...Bargaining between the host country and oil companies is very common to international oil and gas development projects.The existence of information asymmetry gives the host country an endogenous bargaining advantage.Foreign oil companies might change their unfavorable negotiating position by changing the order of bidding and adjusting bidding strategies.This paper introduces both factors into a bilateral bargaining model to study the impact of information asymmetry and bidding order on the strategy and equilibrium returns of oil companies.According to the ownership of the right to bid first,two scenarios are designed for the model to compare the equilibrium returns of the host country and oil companies.The results show that:1)There is a first-mover advantage in the process of bilateral bidding,so oil companies better bid first;2)The information asymmetry will lead to a higher nominal income ratio of oil companies and a lower nominal income ratio of the host country,but it doesn’t affect the total income ratio at all.展开更多
Mr. Wang Tao, President of the China National Oil and Natural Gas Corporation, briefed this reporter on his thoughts on the development of China’s land oil industry. From the present to the turn of the century, said ...Mr. Wang Tao, President of the China National Oil and Natural Gas Corporation, briefed this reporter on his thoughts on the development of China’s land oil industry. From the present to the turn of the century, said Wang Tao, is a critical period in the reform and development of the land oil industry in China. Our basic thoughts on the development of China’s land oil industry from now on are: to blaze a new trail of better commercial efficiency and rapid development by making economic efficiency upgrading the aim, and oil and gas production and operation the展开更多
On December 2, 2017, the 2nd Seminar on the Development Strategy of China＇s Oil and Gas Resources was held in Beijing. This seminar was hosted by the Strategic Research Center for Oil and Gas Resources, Ministry of L...On December 2, 2017, the 2nd Seminar on the Development Strategy of China＇s Oil and Gas Resources was held in Beijing. This seminar was hosted by the Strategic Research Center for Oil and Gas Resources, Ministry of Land （MLR） and Resources and sponsored by both the CNOOC Exploration Department and the School of Ocean and Earth Sciences of Tongji University. With the theme of ＂deepwater and deep-layer oil and gas resources and development strategy＂,展开更多
文摘Multilateral wells promise cost savings to oil and fields as they have the potential to reduce overall drilling distances and minimize the number of slots required for the surface facility managing the well.However,drilling a multilateral well does not always increase the flow rate when compared to two single-horizontal wells due to competition in production inside the mother-bore.Here,a holistic approach is proposed to find the optimum balance between single and multilateral wells in an offshore oil development.In so doing,the integrated approach finds the highest Net Present Value(NPV)configuration of the field considering drilling,subsurface,production and financial analysis.The model employs stochastic perturbation and Markov Chain Monte-Carlo methods to solve the global maximising-NPV problem.In addition,a combination of Mixed-Integer Linear Programming(MILP),an improved Dijkstra algorithm and a Levenberg-Marquardt optimiser is proposed to solve the rate allocation problem.With the outcome from this analysis,the model suggests the optimum development including number of multilateral and single horizontal wells that would result in the highest NPV.The results demonstrate the potential for modelling to find the optimal use of petroleum facilities and to assist with planning and decision making.
文摘Based on oil development costs, the application research in the technical and economic limits calculation of oil development and the production optimal allocation to all the oilfields, was finished. At the same time, according to the regression of real development costs, a new method for oil well economic water cut and oil well economic rate are set up, the production optimal allocation is developed with satisfactory results.
文摘In the global wave of energy transition and low-carbon development,China Petroleum Enterprise Association,together with the University of International Business and Economics,China University of Petroleum-Beijing,Southwest Petroleum University,and other institutions,released four significant blue books on April 17:Annual Operating Report of China’s Natural Gas Industry Blue Book(2024-2025),China Oil&Gas Industry Development Analysis and Outlook Blue Book(2024-2025),China Low-Carbon Economy Development Report Blue Book(2024-2025),and Refined Oil and New Energy Development Report Blue Book(2024-2025).This series of blue books provides a comprehensive and high-level analysis of the development,issues,and trends in the oil and gas industry,offering a detailed depiction of the China Oil&Gas industry and its progress towards low-carbon development.
基金Supported by the Petro China Scientific Research and Technology Development Project(2023SC0105)。
文摘This paper presents an analysis of four aspects,including the distribution and production of global oil and gas fields,the distribution and changes of remaining recoverable reserves,the differences in oil and gas production between regions/countries,and the development potentials of oil and gas fields unproduced and to be produced in 2023.On this basis,the situation and characteristics of global oil and gas development are expounded,and the trend of global oil and gas development is summarized.In 2023,upstream oil and gas production landscape is expanding,and the number of oil and gas fields in production is increasing significantly;oil and gas recoverable reserves increased year-on-year,driven by significant contributions from new discoveries and reserve re-estimates;the overall oil and gas production grew continuously,with notable contributions from new projects coming online and capacity expansion efforts;and the oil and gas fields unproduced or to be produced,especially large onshore conventional oil fields and economically challenging offshore gas fields,host abundant recoverable reserves.From the perspectives of reshaping oil and gas production areas due to the pandemic and Russia-Ukraine conflicts,geopolitical crises,capital expenditure structures in petroleum exploration and development,and the proactive layout of oil and gas associated resources,the trend of global oil and gas development in 2023 was analyzed systematically.The enlightenment and suggestions in four aspects are proposed for Chinese oil companies to focus on core businesses and clarify development strategies in the post-pandemic era and the context of energy transition:The global oil and gas landscape is undergoing profound adjustments,and it is essential to grasp development trends,especially in core businesses;upstream business exhibits a strong potential,and emerging fields are considered as new growth poles;the prospects for tight/shale oil and gas are promising,and new pathways to ensure national energy security are explored;cutting-edge breakthroughs are achieved in emerging industries of strategic importance,and a comprehensive energy collaboration system for supply security is established.
基金Supported by the CNPC Basic and Prospective Project (2021DJ45)。
文摘The shale oil and gas exploitation in China is technically benchmarked with the United States in terms of development philosophy,reservoir stimulation treatment,fracturing parameters,fracturing equipment and materials,oil/gas production technology,and data/achievements sharing.It is recognized that the shale oil and gas exploitation in China is weak in seven aspects:understanding of flow regimes,producing of oil/gas reserves,monitoring of complex fractures,repeated stimulation technology,oil/gas production technology,casing deformation prevention technology,and wellbore maintenance technology.Combined with the geological and engineering factors of shale oil and gas in China,the development suggestions of four projects are proposed from the macro-and micro-perspective,namely,basic innovation project,exploitation technology project,oil/gas production stabilization project,and supporting efficiency-improvement project,so as to promote the rapid,efficient,stable,green and extensive development of shale oil and gas industry chain and innovation chain and ultimately achieve the goal of“oil volume stabilizing and gas volume increasing”.
基金Scientific Research and Technology Development Project(2021DJ3205)。
文摘By analyzing the distribution of global oil and gas fields and the reasons why some oil and gas fields are not in production, the distribution characteristics of oil and gas remaining recoverable reserves and their year-on-year changes, the distribution characteristics of oil and gas production and their year-on-year changes, and the development potential of oil and gas to be tapped in 2021, this paper sorts out systematically the current status and characteristics of global oil and gas development, summaries the major trends of global oil and gas development, puts forward enlightenment for international oil and gas cooperation. In 2021, oil and gas fields were widely distributed, the number of non-producing oil and gas fields was large;the whole oil and gas remaining recoverable reserves declined slightly, unconventional oil and gas remaining recoverable reserves dropped significantly;the overall oil and gas production continuously increased, the outputs of key resource-host countries kept year-on-year growth;undeveloped oilfields had abundant reserves and great development potential. Combined with global oil and gas geopolitics, oil and gas industry development trends, oil and gas investment intensity, and the tracking and judgment of hotspot fields, the major trends of global oil and gas development in 2021 are summarized. On this basis, the four aspects of enlightenment and suggestions for international oil and gas cooperation and development strategies are put forward: attach great importance to the obligation of marine abandonment to ensure high-quality and long-term benefit development of offshore oil and gas;adhere to the principle of not going to dangerous and chaotic places, strengthen the concentration of oil and gas assets, and establish multi stable supply bases;based on the multi-scenario demand of natural gas, realize the transformation from integrated collaboration to full oil and gas industry chain development;increase the acquisition of high-quality large-scale assets, and pay attention to the continuous optimization of the shareholding ratio of projects at different stages.
基金the financial support provided by the Humanities and Social Sciences Program of Chinese Ministry of Education(Grant Nos.19YJCZH106 and 20YJCZH201)National Natural Science Foundation of China(Grant Nos.71904111 and 71774105)Program for the Philosophy and Social Sciences Research of Higher Learning Institutions of Shanxi(Grant No.201803079,2nd[2018]of Jin Education)。
文摘Bargaining between the host country and oil companies is very common to international oil and gas development projects.The existence of information asymmetry gives the host country an endogenous bargaining advantage.Foreign oil companies might change their unfavorable negotiating position by changing the order of bidding and adjusting bidding strategies.This paper introduces both factors into a bilateral bargaining model to study the impact of information asymmetry and bidding order on the strategy and equilibrium returns of oil companies.According to the ownership of the right to bid first,two scenarios are designed for the model to compare the equilibrium returns of the host country and oil companies.The results show that:1)There is a first-mover advantage in the process of bilateral bidding,so oil companies better bid first;2)The information asymmetry will lead to a higher nominal income ratio of oil companies and a lower nominal income ratio of the host country,but it doesn’t affect the total income ratio at all.
文摘Mr. Wang Tao, President of the China National Oil and Natural Gas Corporation, briefed this reporter on his thoughts on the development of China’s land oil industry. From the present to the turn of the century, said Wang Tao, is a critical period in the reform and development of the land oil industry in China. Our basic thoughts on the development of China’s land oil industry from now on are: to blaze a new trail of better commercial efficiency and rapid development by making economic efficiency upgrading the aim, and oil and gas production and operation the
文摘On December 2, 2017, the 2nd Seminar on the Development Strategy of China＇s Oil and Gas Resources was held in Beijing. This seminar was hosted by the Strategic Research Center for Oil and Gas Resources, Ministry of Land （MLR） and Resources and sponsored by both the CNOOC Exploration Department and the School of Ocean and Earth Sciences of Tongji University. With the theme of ＂deepwater and deep-layer oil and gas resources and development strategy＂,
