Optimal regulation of oil fields under asymmetric information

Neste trabalho é analisada a relação entre um regulador e uma empresa petrolífera. Há várias incertezas inerentes à essa relação e o trabalho se concentra nos efeitos da assimetria de informação. Fazemos a caracterização da regulação ótima sob informação assimétrica, quando o regulador deve desenhar um mecanismo que induz a firma a revelar corretamente sua informação privada. No caso em que a rma não pode se comprometer a não romper o acordo, mostramos que o regulador pode não implementar o resultado ótimo que é obtido sob informação completa. Nesse caso, o regulador não consegue compartilhar os riscos com a firma de forma ótima. Por fim, é apresentado um exemplo, em que mostramos que a condição de Spence-Mirrlees (SMC) pode não valer. Esse resultado aparece de forma natural no modelo.

Sustainable miracles : protection and competition in the Brazilian oil industry

It is often suggested that competition improves productivity, however, the underlying support for this idea is surprisingly thin. This paper presents a case study examining the e ects of a change in the competitive environment on productivity at the Petrobras, Brazil's state-owned oil company. Petrobras had a legal monopoly on production, re ning, transportation and importation of oil in Brazil until it was removed in 1995. Even though Petrobras continues to have a de facto monopoly, the end of legal monopoly labor productivity growth rate more than doubled. A growth accounting of the industry shows that between 1977 and 1993 output growth rate (and productivity growth rate) is explained by the accumulation of capital, while Total Factor Productivity (TFP) decreased. Between 1994 and 2000 labor productivity growth rate is completely explained by the growth rate of TFP. The results suggest that the threat of competition alone is su cient to improve productivity. They also provide evidence that restricting competition help cause Brazil's depression of the 1980s.

An Attempt to Increase the Permeability and Porosity of the Cut Bank Oil Sand By Treatment with Various Reagents

The purpose of this investigation was to attempt to find some means of increasing the effective porosity and permeabil­ity of the producing sands of the Cut Bank Oil Field, with the hope that thereby the ultimate recovery of petroleum from this field may be increased. Although the percentage increase in production thus effected would undoubtedly be small, it would represent a substantial volume of petroleum in view of the great quantity of oil and gas present in this field.

Debates en el h. Senado nacional sobre la concesión de un millón de hectáreas petrolíferas a Richmond, Levering Co. y la Standard Oil Co.

Cover title.

Present status of the Mexican oil "expropriations" 1940.

Mode of access: Internet.

Whose oil is it? The question of subsoil rights in Mexico.

"This booklet ... is the second in the series."--Foreword.

Standard Oil bulletin.

Mode of access: Internet.

Confiscation; a history of the oil industry in Bolivia.

Mode of access: Internet.

The Amplifier - v. 11, no. 6

In this issue...Continental Oil, Jocko Evans, Engineers Week, Dan Rovig, EIT Examination, Metallurgy Building, Montana Power Company, Boeing Company

Hatchery construction and its feasibility in the Nigerian economy

Aquaculture drive in the Niger Delta has necessitated the springing up of various forms of hatcheries in Nigeria in the area. The hatchery level is high as most fish farmers now want to produce their own fingerlings for the stocking of their production ponds for culture to market (table) size. The paper shows that there is a lot of market in the Niger-Delta for fresh fish. Majority of the numerous fish farmers are not well empowered to breed and produce fish seeds especially species most loved and eaten. The rising cost of materials in the Nigerian economy has become a bottleneck in the construction of more fish hatcheries for fingerling production. However, the assistance of multinationals has become very necessary to enhance its feasibility to encourage better involvement in the fish hatchery works. One remarkable area where assistance is being felt by the communities in the Niger-Delta is in fish farming and more so in the supply of fish fingerling to top fish farmers by The Shell Petroleum Development Company of Nigeria Limited (SPDC), a multinational oil company in the area. Few fish farmers have benefited from this. If more hatcheries are available to service and provide the needed fingerlings to stock the available water bodies such as, home backyard ponds, the 0.74 million hectares of brackish water, 1.01 million hectares of perennial swamps, and other marginal land available for aquaculture and properly managed, it will yield between 2.5 and 10 metric tones of fish depending on the species stocked and bred

港西油田现代油藏管理研究与实践

Through years of practice, reservoir management has already become the basic mode of foreign oil companies to realize the high-efficient development of the oil field. From the view of reservoir development and technological economy, reservoir management regards the study of the reservoir engineering, designs of reservoir projects and the dynamic analysis of the reservoir's performance as a system. In the fields of reservoir description, the establishment of the geological models and development models, the dynamic simulations of reservoir exploitation and the design of the oil engineering, reservoir management emphasizes the cooperation of the geology and the engineering, the combination of the engineering technology and the economic evaluation. In order to provide the means and basis for the reservoir geology study, reservoir evaluation, reserves calculation, numerical simulation, development plan and risk analysis, it adopts the reservoir management activities(team work) to make and implement the optimized oil field development management strategies so that secientific and democratic decision making can be achieved. Under the planned economic system for a long time, the purpose of Chinese reservoir development has been to fulfill the" mandatory" production task. With the deepening of the reform, the management organization of Chinese petroleum enterprises has been gradually going through the transition and reforms to the operational entity and the establishment of the mode of oil companies under the socialist market economy system. This research aims at introducing the advanced reservoir management technique from foreign countries to further improve the reservoir development results and wholly raise the economic benefits of Chinese mature land facieses sandstone reservoirs in the later stage of the water flooding. We are going to set up a set of modern reservoir management modes according to the reservoir features, current situation and existing problems of GangXi oil field of DaGang oil company. Through the study and implementation of the reservoir description and numerical simulation technology effectively, we plan to work out integrated adjustment projects, to study the related technology of oil recovery; to set up the effective confirmable data procedure and data management system of the reservoir management, to establish the coordinated model and workbench related to geology, engineering and economy in order to realize the real time supervision and evaluation on the process of reservoir development. We hope to stipulate modernization management tools for GangXi oil fields to rationally utilize various kinds of existing technological methods and to realize the economic exploitation and achieve the maximum benefits from the reservoir. The project of the modem reservoir management will be carried out on the GangXi oil field of DaGang oil company for this oil field is typical and has integrated foundamental materials and perfect networks. Besides, it is located in the good geographical position enjoying very convenient traffic. Implementing modern reservoir management will raise the recovery ratio, reduce the production cost and improve the working efficiency. Moreover, the popularization of modern reservoir management will improve the comprehensive benefits of DaGang oil company and even the whole Petro China. Through the reserch of this project, the following technical indicators can be reached: Establishing the concept of modern reservoir management. Establishing a set of integrated data information management system adapt to the features of GangXi reservoir. 3. Forming technical research modes of modern reservoir management suitable for mature reservoirs in the later developing stage. 4. Advancing projects of GangXi reservoir which are maxium optimized in engineering technique and economic benefits of oil exploitation. Besides, this set of technology, research principle and method can guide the mature reservoir of DaGang oil field and even the whole PetroChina to develop the further research of reservoir adjustment and improve the reservoir recovery factor and developing level constantly.

基于结构分析地震资料去噪方法研究

With the development of oil and gas exploration, the exploration of the continental oil and gas turns into the exploration of the subtle oil and gas reservoirs from the structural oil and gas reservoirs in China. The reserves of the found subtle oil and gas reservoirs account for more than 60 percent of the in the discovered oil and gas reserves. Exploration of the subtle oil and gas reservoirs is becoming more and more important and can be taken as the main orientation for the increase of the oil and gas reserves. The characteristics of the continental sedimentary facies determine the complexities of the lithological exploration. Most of the continental rift basins in East China have entered exploration stages of medium and high maturity. Although the quality of the seismic data is relatively good, this areas have the characteristics of the thin sand thickness, small faults, small range of the stratum. It requests that the seismic data have high resolution. It is a important task how to improve the signal/noise ratio of the high frequency of seismic data. In West China, there are the complex landforms, the deep embedding the targets of the prospecting, the complex geological constructs, many ruptures, small range of the traps, the low rock properties, many high pressure stratums and difficulties of boring well. Those represent low signal/noise ratio and complex kinds of noise in the seismic records. This needs to develop the method and technique of the noise attenuation in the data acquisition and processing. So that, oil and gas explorations need the high resolution technique of the geophysics in order to solve the implementation of the oil resources strategy for keep oil production and reserves stable in Ease China and developing the crude production and reserves in West China. High signal/noise ratio of seismic data is the basis. It is impossible to realize for the high resolution and high fidelity without the high signal/noise ratio. We play emphasis on many researches based on the structure analysis for improving signal/noise ratio of the complex areas. Several methods are put forward for noise attenuation to truly reflect the geological features. Those can reflect the geological structures, keep the edges of geological construction and improve the identifications of the oil and gas traps. The ideas of emphasize the foundation, give prominence to innovate, and pay attention to application runs through the paper. The dip-scanning method as the center of the scanned point inevitably blurs the edges of geological features, such as fault and fractures. We develop the new dip scanning method in the shap of end with two sides scanning to solve this problem. We bring forward the methods of signal estimation with the coherence, seismic wave characteristc with coherence, the most homogeneous dip-sanning for the noise attenuation using the new dip-scanning method. They can keep the geological characters, suppress the random noise and improve the s/n ratio and resolution. The rutine dip-scanning is in the time-space domain. Anew method of dip-scanning in the frequency-wavenumber domain for the noise attenuation is put forward. It use the quality of distinguishing between different dip events of the reflection in f-k domain. It can reduce the noise and gain the dip information. We describe a methodology for studying and developing filtering methods based on differential equations. It transforms the filtering equations in the frequency domain or the f-k domain into time or time-space domains, and uses a finite-difference algorithm to solve these equations. This method does not require that seismic data be stationary, so their parameters can vary at every temporal and spatial point. That enhances the adaptability of the filter. It is computationally efficient. We put forward a method of matching pursuits for the noise suppression. This method decomposes any signal into a linear expansion of waveforms that are selected from a redundant dictionary of functions. These waveforms are chosen in order to best match the signal structures. It can extract the effective signal from the noisy signal and reduce the noise. We introduce the beamforming filtering method for the noise elimination. Real seismic data processing shows that it is effective in attenuating multiples and internal multiples. The s/n ratio and resolution are improved. The effective signals have the high fidelity. Through calculating in the theoretic model and applying it to the real seismic data processing, it is proved that the methods in this paper can effectively suppress the random noise, eliminate the cohence noise, and improve the resolution of the seismic data. Their practicability is very better. And the effect is very obvious.

Know your own state : South Carolina

This publication is a booklet published by the Standard Oil Company that serves as a guide to the state of South Carolina, including history, geography, maps, and automobile care information.

Incorporação de resíduo da indústria petrolífera em argamassas de cal hidráulica para a reabilitação de edifícios

Trabalho Final de Mestrado para obtenção do grau de Mestre em Engenharia Civil na Área de Especialização de Edificações

Elf ERAP en Irak, de 1968 à 1977

Dès sa création en 1966, l’ERAP s’est fixé pour but d’accroître la production du pétrole « franc », en diversifiant ses sources d’approvisionnement. Un tel objectif prend une tournure cruciale dès lors que les rapports tendus entre le groupe français et les autorités algériennes semblent menacer ses acquis dans le Sahara. Toutefois, se tailler une place sur le marché mondial semble à cette époque une tâche ardue, voire improbable, puisque les espaces les plus pétrolifères sont déjà occupés par les grandes sociétés, dites Majors. Néanmoins, la société d’État française réussit à s’implanter dans plusieurs pays producteurs, dont l’Irak en 1968, jusqu’alors considéré comme la chasse gardée de la Compagnie française des pétroles (CFP). Aussi, l’expérience irakienne, suite à l’insuccès en Algérie, incite Elf ERAP à se concentrer dans les pays pétroliers de l’Afrique subsaharienne et en Mer du Nord. Le 3 février 1968, Elf ERAP signe un accord avec la compagnie d’État pétrolière, INOC, pour se charger de la prospection et de l’exploitation d’une partie du territoire confisqué par l’État irakien à la puissante Iraq Petroleum Company (IPC). En contrepartie de ses apports financiers et techniques, Elf ERAP sera rémunérée par un approvisionnement garanti en pétrole irakien : il s’agit d’un nouveau genre de partenariat, dit « contrat d’agence ». Ce dernier succède au système classique des concessions et vaut à la société d’État un franc succès dans son projet de pénétration au Moyen Orient. Très vite, les prospections donnent lieu à la découverte de gisements. La production démarre en 1976 et s’élève à 5 millions de tonnes en 1977. Dès lors, Elf ERAP, devenue la SNEA, peut envisager avec optimisme son avenir énergétique, puisque sa sécurité d’approvisionnement est, en partie, assurée par le marché irakien. Mais, contre toute attente, le groupe d’État français se retire de l’affaire en mai 1977, laissant place à l’INOC, qui prend en charge le projet deux ans avant la date prévue par le contrat initial de 1968. Ce sujet de recherche consiste à éclaircir le rôle d’opérateur joué par l’ERAP en Irak, entre 1968 et 1977. Pour tenter d’expliquer le départ prématuré d’Elf Irak, il nous faut identifier les facteurs endogènes et exogènes qui ont pu motiver une telle décision. Autrement dit, la société d’État aurait-elle subi les revers de ses propres choix énergétiques ou un tel dénouement serait-il imputable à la politique pétrolière irakienne? Quelles sont les implications de la conjoncture pétrolière internationale dans le cas d’un tel retrait? Aidée des archives historiques d’Elf et de TOTAL, nous sommes arrivée à la conclusion que la compression du marché pétrolier, entre distributeurs et producteurs, au cours des années 1970, a considérablement nui à la rentabilité des contrats intermédiaires du type agence.