DOCSLIB.ORG

Journal of Technology: Winter 2018

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Journal of Technology: Winter 2018 Winter 2018 Saudi Aramco THE SAUDI ARAMCO JOURNAL OF TECHNOLOGY Journal A quarterly publication of the Saudi Arabian Oil Company of Technology A Large Aperture Test Apparatus for Severe Lost Circulation Material Evaluation, see page 2 Advanced Corrosion and Scale Monitoring under Downhole Conditions with Applied Corrosion Inhibitor Batch Treatment in Sour Gas Wells, see page 59 On the Cover The industry standard testing equipment currently used for screening lost circulation material is limited to simulate fractures only up to 5 mm, whereas there are fractures and vugs more than 50 mm in diameter causing severe lost circulation. The new in-house designed test fixture will be able to simulate fractures/vugs of up to 40 mm. This will enable better screening and evaluation of lost circulation products and timely recommendations for field applications. MORE SAUDI ARAMCO JOURNAL OF TECHNOLOGY ARTICLES AVAILABLE ON THE INTERNET. Lost circulation is one of the primary contributors for nonproductive drilling time in drilling operations. Additional articles that were submitted for publication in the Saudi Aramco Journal Depending on the magnitude of the fracture, lost of Technology are being made available online. You can read them at this link on the circulation is classified as a seepage, partial or severe loss. Saudi Aramco Internet Website: www.saudiaramco.com/jot The Saudi Aramco Journal of Technology is EDITORIAL ADVISORS (CONTINUED) PRODUCTION COORDINATION published quarterly by the Saudi Arabian Oil Company, Dhahran, Saudi Arabia, to provide Omar S. Al-Husaini Richard E. Doughty the company’s scientific and engineering General Manager, Drilling & Workover Operations communities a forum for the exchange of Abdul Hameed A. Al-Rushaid DESIGN ideas through the presentation of technical Chief Drilling Engineer information aimed at advancing knowledge Graphic Engine Design Studio, in the hydrocarbon industry. Ammar A. Nahwi Austin, Texas, U.S.A. Manager, Research and Development Center Complete issues of the Journal in PDF format are available on the Internet at: Ali A. Al-Meshari http://www.saudiaramco.com Manager, EXPEC ARC (click on “publications”). CONTRIBUTIONS SUBSCRIPTIONS Relevant articles are welcome. Submission ISSN 1319-2388. Send individual subscription orders, address guidelines are printed on the last page. changes (see page 70) and related questions to: Please address all manuscript and editorial correspondence to: © COPYRIGHT 2018 Saudi Aramco Corporate Communications ARAMCO SERVICES COMPANY Support Department EDITOR ALL RIGHTS RESERVED JOT Distribution No articles, including art and illustrations, Box 5000 William E. Bradshaw The Saudi Aramco Journal of Technology in the Saudi Aramco Journal of Technology Dhahran 31311, Saudi Arabia except those from copyrighted sources, Website: www.saudiaramco.com/jot C-11B, Room AN-1080 North Admin Building #175 may be reproduced or printed without the Dhahran 31311, KSA written permission of Saudi Aramco. Please EDITORIAL ADVISORS Tel: +966-013-876-0498 submit requests for permission to reproduce items to the editor. Ahmad O. Al-Khowaiter Email: [email protected] Vice President, Technology Oversight and Coordination Unsolicited articles will be returned only The Saudi Aramco Journal of Technology gratefully acknowledges the assistance, Abdullah M. Al-Ghamdi when accompanied by a self-addressed envelope. contribution and cooperation of numerous Vice President, Gas Operations operating organizations throughout the company. Khalid M. Al-Abdulqader Amin Nasser General Manager, Unconventional Resources President & CEO, Saudi Aramco Nabeel A. Al-Jama’ Vice President, Corporate Affairs Fahad K. Dhubaib General Manager, Public Affairs Winter 2018 Saudi Aramco THE SAUDI ARAMCO JOURNAL OF TECHNOLOGY Journal A quarterly publication of the Saudi Arabian Oil Company Contents A Large Aperture Test Apparatus for Severe Lost Circulation Material Evaluation 2 Dr. Jothibasu Ramasamy, Dr. Md. Amanullah, and Mohammad K. Arfaj Pressure Conditioned Modeling: Application of of Technology Time-Lapse Shut-in Pressure Data to Map Connected Reservoir Regions for Conditioning of 3D Geomodel Property Distributions 10 Babatope O. Kayode, Mohammed A. Al-Saleh, Stig Lyngra, and Dr. Zeid M. Al-Ghareeb Systematic Approach to Develop Colloidal Silica-based Gel System for Water Shut Off 20 Dr. Jin Huang, Dr. Ayman M. Al-Mohsin, Dr. Mohammed A. Bataweel, Prasad B. Karadkar, Dr. Wengang Li, and Abrar A. Alshaikh Getting More Out of Your Multistage Fracturing Open Hole Completion 32 Kirk M. Bartko, Syed Muhammad, Maksim Oparin, Roberto Tineo, Fadhel A. Abu Al-Makarem, Ankur Desai, and Jasim Al Ulaiw Structural and Quantitative Phase Analysis of XRD Data of Sludge Deposits from Refineries and Gas Plants Using the Rietveld Method 41 Rasha Abdullah Al-Ghamdi and Dr. Husin Sitepu Optimization Study of Temperature Log for Fracture Height Evaluation and Field Application of Practical Examples after Pad Calibration 49 Adrian Buenrostro, Mohammed Al-Abdrabalnabi, Amro E. Mukhles, and Saad M. Al-Driweesh Advanced Corrosion and Scale Monitoring under Downhole Conditions with Applied Corrosion Inhibitor Batch Treatment in Sour Gas Wells 59 Dr. Tao Chen, Dr. Feng Liang, Dr. Fakuen F. Chang, and Amro E. Mukhles Material Overview for Electric Submersible Pumps: Part 1 — Metallic and Ceramic Materials 67 Dr. Jinjiang Xiao, Rafael A. Lastra, Brian A. Roth, and Dr. Woon Lee A Large Aperture Test Apparatus for Severe Lost Circulation Material Evaluation Dr. Jothibasu Ramasamy, Dr. Md. Amanullah, and Mohammad K. Al-Arfaj ABSTRACT the test cell, the ball valve connecting the test cell chamber and the reservoirs is closed. The test can be carried out up to 600 Failure to have a reliable and adequate evaluation method and psi to evaluate the blocking efficiency of the materials. The apparatus for materials used to combat severe lost circulation material passing through the slotted or circular hole containing causes significant nonproductive time (NPT) in the drilling discs will be collected through the outlet in the bottom of the industry, due to frequent failure to control moderate to severe test cell. The amount of material collected through the outlet loss circulation. Apart from losing whole drilling mud while will be used to evaluate the performance of the LCM. drilling, lost circulation can lead to additional problems such as The newly developed test method and apparatus will play a differential sticking, borehole instability and also well control vital role in the screening of different materials for lost circula- situations if not controlled properly. There are different types tion and selection of the right material based on the loss type. of lost circulation materials (LCMs) such as fibrous, flaky, par- Therefore, it is expected to have a positive contribution in trou- ticulate, and polymers, or their blends developed to mitigate ble-free and safe drilling operations. severe mud losses. Subsequently, the nonavailability of a reli- able apparatus for simulating the loss zone and an appropriate INTRODUCTION testing method for evaluation of materials for severe loss sce- narios make the selection of a proper loss control material very Lost circulation is the partial or total loss of drilling mud or difficult, and therefore, in most cases, treatment of severe lost cement slurries inside the wellbore during drilling, running circulation is addressed on a trial and error basis. Moreover, casing or cementing operations. Lost circulation is one of the the conventional severe loss control method has a very low frequently occurring challenges encountered during drilling probability of success. operations and it was reported that around 20% to 25% of To address this ongoing problem, there must be a method wells drilled around the globe encounter lost circulation1. Lost and apparatus to evaluate and validate products for lost circu- circulation can be encountered during any stage of the drilling lation based on the loss zone characteristics relevant to severe operation. It results when drilling fluid or drilling mud pumped loss circulation problems. The article describes a reliable test into a well returns partially, or does not return to the surface. method and apparatus capable of simulating fractures and While some fluid loss is anticipated, extreme fluid loss is unde- vugular zones up to 40 mm for screening and evaluating LCMs sirable from a safety, an economical, or an environmental point for moderate to severe loss of circulation problems. of view. It is one of the most difficult and expensive problems The test apparatus is made of several components, such as faced while drilling a well. Millions of dollars are being spent a test cell, a mud reservoir, a spacer/activator reservoir, and a each year owing to lost circulation and the detrimental effects it LCM reservoir. All of these components are engineered and causes. Lost circulation is also responsible for reduced produc- assembled in a systematic way using various fixtures such as tion in that loss zones resulted in the failure to secure produc- ball valves, relief valve, connecting pipes, pressure inlet, fluid tion tests and samples, while the plugging of production zones outlet and various discs with slotted and circular openings and/ have led to decreased productivity2. or holes to simulate various loss zones. The test cell is capa- Lost circulation is one of the major operation challenges of ble of holding a slotted metal disk having slots up to 40 mm drilling
Load more

Recommended publications
  • SAMREF Refinery Embraces Wireless Applications, Sets Foundation for Site-Wide Onewireless Network Infrastructure
    Case Study SAMREF Refinery Embraces Wireless Applications, Sets Foundation for Site-wide OneWireless Network Infrastructure “Wireless seemed like the natural answer to our immediate need for mobile video monitoring and Honeywell was the right partner because of its broad range of products and solutions and its field- proven track record in the areas of security, reliability and professional support." Mr. Azam L. Al-Hakeem, Information Technology Superintendent, SAMREF Background Benefits SAMREF is a joint venture between Saudi Arabian Oil Company The Wireless solution allows SAMREF to enhance their incident (Saudi Aramco) and Mobil Yanbu Refining Company Inc., a management procedures and rescue operations resulting in wholly owned subsidiary of Exxon Mobil Corporation. Saudi improved employee safety. Deployment of industrial video Aramco is the world’s largest oil producing and exporting cameras over the wireless network enables remote coverage of company with a history dating back more than 80 years. Exxon the refinery site from roaming vehicles. This allows SAMREF to Mobil Corporation is a global energy company which conducts record safety and security incidents, compare them with previous business in 140 countries on every continent throughout the incidents and keep a video record of near misses. By providing world. The SAMREF refinery complex in Yanbu, Saudi Arabia the refinery Incident Commander with a direct view of real-time produces approximately 400,000 barrels of product daily streaming video from the vehicle he is able to make faster including gasoline, heating oil, LPG, jet fuel and other energy decisions during crisis situations while reducing his dependency products. The Yanbu operation is said to be the most on the control room.
    [Show full text]
  • 23Rd WPC Announces Innovation Zone Special Feature Invites Innovators to Share Their Transformative Ideas That Will Impact the Future of Energy
    FOR IMMEDIATE RELEASE 23rd WPC Announces Innovation Zone Special feature invites innovators to share their transformative ideas that will impact the future of energy HOUSTON, TX (August 4, 2021) — The 23rd World Petroleum Congress Organizing Committee has announced the launch of the Innovation Zone, a captivating new feature on the exhibition floor of the Congress, which will take place in-person in Houston from December 5-9, 2021 at the George R. Brown Convention Center. The Innovation Zone, presented by ConocoPhillips, will provide startup companies an international platform to showcase cutting-edge practices and solutions to combat the current challenges of the energy industry and bring awareness to progressive energy solutions available on the market today. “For more than a century, innovation has enabled our industry to keep pace with the growing demand for safe and reliable energy,” said W. L. (Bill) Bullock, Jr., EVP and CFO, ConocoPhillips. “ConocoPhillips is pleased to be the Innovation Zone presenting sponsor, where companies will showcase innovations that can propel our industry’s purposeful journey through the energy transition and into the future.” Thirty-two selected startup companies and individuals will have the opportunity to pitch their innovative energy tools, technologies and practices on stage to Congress delegates and participants, who will then pick one to receive the Energy Innovator Award. The Innovation Zone is open to all for-profit energy companies, private entities and individuals operating as independent
    [Show full text]
  • National Oil Companies: Business Models, Challenges, and Emerging Trends
    Corporate Ownership & Control / Volume 11, Issue 1, 2013, Continued - 8 NATIONAL OIL COMPANIES: BUSINESS MODELS, CHALLENGES, AND EMERGING TRENDS Saud M. Al-Fattah* Abstract This paper provides an assessment and a review of the national oil companies' (NOCs) business models, challenges and opportunities, their strategies and emerging trends. The role of the national oil company (NOC) continues to evolve as the global energy landscape changes to reflect variations in demand, discovery of new ultra-deep water oil deposits, and national and geopolitical developments. NOCs, traditionally viewed as the custodians of their country's natural resources, have generally owned and managed the complete national oil and gas supply chain from upstream to downstream activities. In recent years, NOCs have emerged not only as joint venture partners globally with the major oil companies, but increasingly as competitors to the International Oil Companies (IOCs). Many NOCs are now more active in mergers and acquisitions (M&A), thereby increasing the number of NOCs seeking international upstream and downstream acquisition and asset targets. Keywords: National Oil Companies, Petroleum, Business and Operating Models * Saudi Aramco, and King Abdullah Petroleum Studies and Research Center (KAPSARC) E-mail: [email protected] Introduction historically have mainly operated in their home countries, although the evolving trend is that they are National oil companies (NOCs) are defined as those going international. Examples of NOCs include Saudi oil companies that have significant shares owned by Aramco (the largest integrated oil and gas company in their parent government, and whose missions are to the world), Kuwait Petroleum Corporation (KPC), work toward the interest of their country.
    [Show full text]
  • Saudi Aramco Q1 2021 Interim Report
    2021 Saudi Aramco First quarter interim report For the period ended March 31, 2021 Saudi Aramco 1 First quarter interim report 2021 Aramco at a glance First quarter 2021 Financial highlights Net income EBIT* Free cash flow* Net cash provided by (billion) (billion) (billion) operating activities (billion) SAR 81.4 SAR 153.7 SAR 68.5 SAR 99.3 $21.7 $41.0 $18.3 $26.5 Capital expenditures Dividends paid Dividends paid ROACE* (billion) (billion) per share (%) SAR 30.8 SAR 70.33 SAR 0.35 14.2 $8.2 $18.75 $0.09 Gearing* Earnings per share Average realized (%) (basic and diluted) crude oil price ($/barrel) 23.0 SAR 0.39 60.2 $0.10 * Non-IFRS measure: refer to Non-IFRS measures reconciliations and definitions section for further details. 2 Saudi Aramco First quarter interim report 2021 Key results CEO’s statement Financial results President and CEO Amin H. Nasser First quarter ended March 31 The momentum provided by the global economic recovery has SAR USD* strengthened energy markets, and Aramco’s operational All amounts in millions unless flexibility, financial agility and the resilience of our employees otherwise stated 2021 2020 2021 2020 have contributed to a strong first quarter performance. For our Net income 81,440 62,478 21,717 16,661 customers we remain a supplier of choice, and for our EBIT 153,680 128,258 40,982 34,202 shareholders we continue to deliver an exceptional quarterly Capital expenditures 30,750 27,740 8,200 7,397 dividend. Free cash flow 68,549 56,327 18,279 15,021 We made further progress towards our strategic objectives Dividends paid 70,325 50,226 18,753 13,394 during the quarter and our portfolio optimization program ROACE1 14.2% 26.3% 14.2% 26.3% continues to identify value creation opportunities, such as the Average realized crude oil recent announcement of our landmark $12.4 billion pipeline price ($/barrel) n/a n/a 60.2 51.8 infrastructure deal.
    [Show full text]
  • China and the Oil Price War: a Mixed Blessing
    CHINA AND THE OIL PRICE WAR: A MIXED BLESSING BY ERICA DOWNS, ANTOINE HALFF, DAVID SANDALOW AND ERIN BLANTON MARCH 2020 The oil price war started this month by Russia and Saudi Arabia is good news for the Chinese economy, which has been reeling from the coronavirus. After all, China is the world’s largest crude oil importer. The savings in oil import costs will be significant. Yet the economic benefits to China will be limited by several factors, including lack of consumer demand due to the lingering effects of coronavirus disruptions. In addition, lower oil prices could make it more difficult for the Chinese government to meet its energy security and environmental goals, which have received considerable priority from Chinese leaders in recent years. The oil price war will also make it more difficult for China to hit the targets set out in the US-China Phase 1 trade deal signed in January. In sum, lower oil prices will deliver significant benefits for China, but are likely to be somewhat of a mixed blessing. Economic Impacts The Chinese economy sustained an enormous blow from the coronavirus in the first two months of 2020. Industrial production dropped 13.5%, retail sales dropped 20.5% and fixed asset investments dropped 24.5% as compared to the same period the prior year.1 As of this writing, official GDP figures are still pending. Against this backdrop, the oil price collapse will deliver some welcome relief to China’s economy as it recovers from the coronavirus. In 2019, China imported roughly 10.2 million barrels per day (bpd) of oil.2 At that level of imports, the plunge in the price of Brent crude from $67 per barrel in December 2019 to roughly $25 per barrel at the time of this writing would reduce China’s oil import bill by $428 million per day—about 1% of GDP—for as long as the price war lasts.
    [Show full text]
  • Saudi Aramco Annual Report 2020 Has Certain Borrowings Where the Reference Rate Is Linked to LIBOR
    ResilienceResilience andand agilityagility SaudiAnnual Aramco Report Annual 2020 Report 2020 Resilience and agility Aramco’s exceptional past belongs to its future. Our people define our success. Energy has been running in our DNA for generations. We are proud of what we accomplished during 2020. Once again, our resilience shone through. We delivered on our shareholder commitments. And we continued to deliver an uninterrupted supply of energy to the world. Our resilience and agility has built one of the world’s largest integrated energy and chemicals companies. And we are part of the global effort toward building a low carbon economy. Our horizon has never been clearer. This Annual Report covers financial and operational aspects of Aramco from January 1, 2020 to December 31, 2020, and is issued in both Arabic and English. The print version is identical to its PDF counterpart, which is available at aramco.com. The Arabic version prevails in the event of any discrepancy. The images in this document are representative of the services provided by Aramco. Some photos may have been taken prior to the COVID-19 pandemic. Wherever possible, sustainable printing techniques were used. 01 Contents Aramco Risk Chairman’s message ...................................06 Risk management........................................ 92 President and CEO’s foreword ...................08 Risk factors ...................................................94 History .......................................................... 10 1 2020 highlights ...........................................
    [Show full text]
  • For Saudi Arabia, the Threat of Stranded Reserves Has Spawned a Climate Strategy
    IAEE Energy Forum / Fourth Quarter 2019 For Saudi Arabia, the Threat of Stranded Reserves has Spawned a Climate Strategy BY JIM KRANE For Saudi Arabia’s absolute monarchy, climate produce from smaller Jim Krane is Wallace S. action represents a combined threat and opportunity resource bases at much Wilson Fellow for Energy in retaining the oil export revenues1 that underpin higher depletion rates. If IOC Studies, Rice University’s domestic political institutions and the kingdom’s executives decided to recast Baker Institute. He may be reached at international influence. Saudi Aramco, the largest their business models, they [email protected] source of greenhouse gas-emitting fossil fuel among could run down reserves all firms worldwide, is exposed to risks around while shifting investment See footnotes at regulations on fossil fuel use. However, Aramco is also toward new types of business. end of text. the producer with the world’s lowest production costs Many IOCs have already and lowest intensity of greenhouse gas emissions demonstrated their ability to transform when their per barrel produced. These attributes suggest that oil foreign oil concessions were nationalized, mainly in from the kingdom should retain a prominent, even the 1970s. The companies shifted oil exploration and favored, role in oil markets, particularly under climate production to new parts of the globe, or moved into constraints. services and technology businesses, and remained The 2019 Saudi Aramco bond prospectus outlines viable. For them, climate change appears like a the company’s risks and future challenges with climate slow-moving reprise of prior disruptions, rather action. The prospectus also provides responses that, than a threat to their existence.
    [Show full text]
  • First Quarter 2021 Earnings Presentation
    First Quarter 2021 Earnings Presentation 29 April 2021 1 © Subsea 7 - 2021 subsea7.com Forward looking statements • This document may contain ‘forward-looking statements’ (within the meaning of the safe harbour provisions of the U.S. Private Securities Litigation Reform Act of 1995). These statements relate to our current expectations, beliefs, intentions, assumptions or strategies regarding the future and are subject to known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements may be identified by the use of words such as ‘anticipate’, ‘believe’, ‘estimate’, ‘expect’, ‘future’, ‘goal’, ‘intend’, ‘likely’ ‘may’, ‘plan’, ‘project’, ‘seek’, ‘should’, ‘strategy’ ‘will’, and similar expressions. The principal risks which could affect future operations of the Group are described in the ‘Risk Management’ section of the Group’s Annual Report and Consolidated Financial Statements for the year ended 31 December 2020. Factors that may cause actual and future results and trends to differ materially from our forward-looking statements include (but are not limited to): (i) our ability to deliver fixed price projects in accordance with client expectations and within the parameters of our bids, and to avoid cost overruns; (ii) our ability to collect receivables, negotiate variation orders and collect the related revenue; (iii) our ability to recover costs on significant projects; (iv) capital expenditure by oil and gas companies,
    [Show full text]
  • Introduction 3/6/06 2:28 PM Page 1
    01-7473-6 Introduction 3/6/06 2:28 PM Page 1 Introduction In most important oil-producing regions of the world, the oil industry has been nationalized. Ninety percent of the world’s oil reserves are entrusted to state-owned companies. The five national oil companies (NOCs) that are the focus of this book together produce one quarter of the world’s oil and hold one half of the world’s oil and gas reserves. What do we know about these oil titans? Do we understand how they operate and what drives them? Do they emphasize politics over profits? Do they have the technical and business skills to develop responsibly the immense petroleum resources entrusted to them? In spite of the dependence of importing countries’ economic fortunes on the performance of the NOCs of the Middle East and North Africa, outsiders know very little about these organizations. Their opacity has discouraged most analysis so far. However, after explaining my project, I was invited to meet with the managers of Saudi Aramco, the Kuwait Petroleum Corporation (KPC), the National Iranian Oil Company (NIOC), Sonatrach (Algeria) and the Abu Dhabi National Oil Company (ADNOC). They allowed extensive interviews to be conducted, demonstrating their interest in discussing both their past accomplishments and future challenges. These were fascinating dis- cussions, and this book will tell those companies’ stories. From the oil industry’s perspective, it is an important time to be studying NOCs. Many of them are emerging on the international scene, no longer con- fined to filling the shoes of the oil majors, which left when the host countries nationalized their oil sector.
    [Show full text]
  • Doing Business English Version
    doing business withWith transparency, Saudi consistency Aramco and uniformity, it’s a level playing field for all. iktva Disclaimer The information contained herein is made available to the damages arising out of or in any way connected with the public by Saudi Aramco, and is provided “as is.” Saudi Aramco information herein. Use of, or reliance on, the information makes no representations or warranties, express or implied, contained in this document does not create any binding or as to the correctness, completeness, or use of this document legal or other obligations on Saudi Aramco toward any other or the information therein by any party for any purpose party. Reference herein to any specific organization or company whatsoever. Neither Saudi Aramco nor any of its affiliates shall does not constitute or imply Saudi Aramco’s endorsement or be liable for any direct, incidental, consequential, or punitive recommendation of, or preference toward, such entity. content Corporate values 01 Supplier Code of Conduct 02 Overview 02 Why invest in Saudi Arabia? 03 Incentives for foreign investors 04 Saudi Aramco incentives and support 05 Saudi Arabia localization support programs 07 A world of opportunity 08 Procurement policies and registration procedures 09 The In-Kingdom Total Value Add (iktva) Program 23 Contracting policies and registration procedures 29 Saudi Aramco contract procurement process 33 Contact information 40 Useful links 44 List of abbreviations 46 Saudi Aramco adheres to a set of values which also guide our procurement activities. Similar values are expected from suppliers and contractors supporting our supply chain. 01 corporate values Excellence: We drive for best results and are agile in addressing new challenges.
    [Show full text]
  • The Sino-Saudi Energy Rapprochement: Implications for US National Security
    The Sino-Saudi Energy Rapprochement: Implications for US National Security January 8th, 2002 Prepared for Dr. Andrew W. Marshall Director, Net Assessment Office of Secretary of Defense Department of Defense Washington, DC PROJECT TEAM Person Contribution Organization Nawaf E. Obaid, Part II: Sino-Saudi Project Director Relations Amy Jaffe Part I: China’s Growing Senior Energy Analyst, Baker Institute for Energy Needs Public Policy, Rice University Edward L. Morse Part III: Implications for Executive Advisor, United States Hess Energy Trading Company Chad Gracia Project Coordinator The Gracia Group Kirk Bromley Senior Analyst The Gracia Group Please direct all inquiries to Nawaf Obaid at 212.334.5410 or [email protected] Executive Summary China is set to become one of the world’s largest energy importers by 2010. Saudi Arabia, the world’s leader in proven oil reserves, production capacity, and net export of petroleum, will play a key role in satisfying China’s growing energy needs. In addition, the Chinese are turning to the Saudi royal family as a strong and viable strategic partner. This development has broad implications for China, Saudi Arabia, and the United States. This study provides an overview of China’s current and projected energy state, evidence for increasing ties between China and Saudi Arabia, and an analysis of the impact a Sino-Saudi rapprochement will have on the US. Its main conclusions are as follows: ü Regardless of efforts to increase domestic production and diversify its energy supply, China cannot avoid increased dependence on Saudi Arabia. This dependence will spring from both direct oil imports as well as from the fact that Saudi Arabia, by virtue of its standing as the world’s energy superpower, wields enormous influence on petroleum prices.
    [Show full text]
  • Industry Leaders Confirmed to Participate in Strong Technical Programme
    FOR IMMEDIATE RELEASE IPTC Project Director: Cordella Wong-Gillett INDUSTRY LEADERS CONFIRMED TO PARTICIPATE IN STRONG TECHNICAL PROGRAMME Kuala Lumpur, Malaysia (12 November 2012)– The 6th edition of the International Petroleum Technology Conference (IPTC) to be held on 26-28 March 2013 at the Beijing International Convention Center in Beijing, China, will include, for the first time, a CEO Plenary Session. This session is an opportunity for the most senior industry executives to discuss the conference theme and provide conference delegates with an over-arching perspective of the industry. The following industry leaders have confirmed their participation in the CEO Plenary Session to be held on Tuesday, 26 March, Zhou Jiping, President, China National Petroleum Corp., and Vice Chairman and President, PetroChina Co. Ltd.; Peter Voser, CEO, Royal Dutch Shell; Khalid Al Falih, CEO & President, Saudi Aramco; Martin Craighead, President & CEO, Baker Hughes; and Peter Coleman, CEO& Managing Director, Woodside Energy Ltd. With the conference theme “Challenging Technology and Economic Limits to Meet the Global Energy Demand”, IPTC Beijing received a record-breaking 2,195 abstracts from 302 organisations representing 53 countries. The programme committee has built the largest and strongest IPTC technical programme yet, with over 800 papers from 139 organisations representing 41 countries and to be presented in 70 technical sessions and Knowledge Sharing Sessions (ePoster) covering geosciences, reservoir, drilling and completions, development and production of unconventional oil & gas, over-arching industry issues (HSE, CSR, talent development & training), mid-stream gas (gas clean-up & storage technologies and natural gas as motor fuel), and onshore and offshore opportunities and challenges in exploration and production in China.
    [Show full text]