PetroJournal Vol. 5 - March 2021

VOL. 5

PetroJournal Journalism Division - Society of Petroleum Engineers

In Today

OPEC’s Move Brought Oil Prices to Rebound in The Second Quarter of 2021 Limiting oil supplies to April was a surprise move for OPEC at the See page 2...

PetroSci

Fracturing Fluid In this year’s big event of SPE ITS SC, Petrolida 2021, we established a new competition called the Fracturing Fluid Design Competition, which led to many See page 2...

Don’t forget to check the quiz on our Instagram story.

MAIN CONCERN:

Source : jpt.spe.org

The latest report by a group of environmental organizations accused the world’s largest bank of investing trillions of dollars in the oil and gas industry to cause “climate chaos” worldwide.

The report, titled “Banks to Deal with Climate Disorder,” stated that in the five years since the Paris Agreement was signed, the 60 largest banks in the world have invested US$3.8 trillion in fossil fuels. The author said: “The out-ofcontrol funding for fossil fuel extraction and infrastructure has contributed to climate chaos, threatening the lives and livelihoods of millions of people.” The biggest culprit is JP Morgan Chase, which has borrowed and debt to oil and gas.

Industry capital injection of 317 billion U.S. dollars, equity issuance underwriting.

Whilst Banking companies held out to reduce their investments on oil and gas, there is a gradual substitution to clean energy, known as the energy of the future.

For decades, civil wars in North Africa or terrorist attacks in the Middle East will

shake the US economy, depending on the millions of barrels of oil imported from abroad every day. These civil wars fund the economy however now the concern has shifted towards guarding and increasing the security of clean energy.

The shift towards clean energy is not as smooth as it looks like. Many aspects of the energy industry should face reality and cope up with the shift. From minor security issues towards huge leaps of investment shifting the economic cycle.

Source : worldoil.com

(Cendrawan)

For A Sustainable Future Hydrogen Blending

Scan Me!

Climate Chaos, Another Dent in Energy Transition

As countries and industry key players face the challenge of energy transition, countless sustainability initiatives are implemented. The oil and gas See page 3...

Shauna Noonan A surprising fact about this former President of Society of Petroleum Engineers is that as a Vancouver native, Shauna Noonan certainly See page 4...

OPEC’s Move Brought Oil Prices to Rebound in The Second Quarter of 2021

12 Mar

Science Course 3

Enhanched Oil Recovery: Towards Indonesia 2030 1 Million BOPD Target

Limiting oil supplies to April was a surprise move for OPEC at the start of the second quarter of this year. The move, which has accelerated this year’s rally and caused prices to surge more than 35%, is also supported by Saudi Arabia’s decision to extend voluntary restrictions as well as a rebel attack on the world’s largest crude terminal. In Asian trade, oil prices surged above $ 71 per barrel, while in London, futures jumped as much as 2.6% at the open after gaining 4.9% last week. This resulted in a surge in investment from several banks regarding their price estimates, with Goldman Sachs Group Inc. estimates the global benchmark Brent will hit $ 80 a barrel in the third quarter. Citing the opinion of Australia & New Zealand Banking Group Ltd, “The OPEC+ decision signals an intention to draw further supplies, without worries about excessive market tightening, The recovery in demand is seen to be accelerating, with growth expected to increase by 7 million BPD in the second half of the year the first half.”

(Sunra)

13-14 Mar

Petrolida Talks

21 Mar

SPE ITS x Kinobi Soft Skill Course

How to Land Your Dream Internship?

Fracturing Fluid In this year’s big event of SPE ITS SC, Petrolida 2021, we established a new competition called the Fracturing Fluid Design Competition, which led to many questions and unfamiliarity of the term. To tell you about fracturing fluid, it is a general term for the liquid that is pumped underground during hydraulic fracturing processes. Hydraulic fracturing creates small fissures in subsurface rock formations to increase flow of fluids. In these fracturing processes, large amounts of these water-based fluids containing a variety of chemicals are pumped into the target formation. The potential harm to human health and the environment as a result of the use of these fracturing fluids is a topic that is widely discussed. Despite the potential associated health and environmental concerns, fracturing fluids are used to obtain oil and natural gas from formations that otherwise would not produce these fossil fuels. The competition itself challenges the delegates to find the perfect mixture of base fluids, chemicals, (Ory) and proppants based on a provided case.

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The discovery of abundant natural gas in Badak Gas Field, East Kalimantan, by Huffco Inc. in early 1972 was the starting point for the journey of PT Badak LNG or now known as Badak LNG. Even though at that time the existence of LNG was not well known and there were only four LNG refineries in the world with 3-4 years of operating experience, Pertamina and Huffco Inc. agreed to develop an LNG project that can export liquefied natural gas in large quantities. These efforts eventually paid off with the approval of LNG sales contracts to five Japanese companies: Chubu Electric Co., Kansai Electric Power Co., Kyushu Electric Power Co., Nippon Steel Corp., and Osaka Gas Co. Ltd., on December 5th, 1973. Carrying a vision to continue operating LNG facilities with the most satisfying performance and providing high-quality services to the global LNG industry, Badak LNG has contributed considerably to the international gas industry and has been listed as the spearhead of the history of the Indonesian LNG industry for 4 decades.

(Sunra)

For A Sustainable Future Hydrogen Blending

A Concern Over Fugitive Gas Emission in Oil and Gas Practices 1. Carryover : A phenomenon in which free liquid leaves with the gas phase at the top of a separator.

As countries and industry key players face the challenge of energy transition, countless sustainability initiatives are implemented. The oil and gas industry is greener than ever before. As featured in the Journal of Petroleum Technology, it was reported that Australia’s gas infrastructure owners test for hydrogen blending with the belief that future-proofing the pipeline network will assist the transition to a green economy.

Hydrogen blending is the process of blending hydrogen safely with natural gas because the industry is pressured with climate emergency, which is a negative impact caused by the usual natural gas on the environment. A study done for the government found hydrogen can be safely added to gas supplies at up to 10% by volume without having to modify pipelines or appliances. The advantage of blending hydrogen into gas allows for a gradual buildup of the hydrogen industry, requiring electrolyzers of up to 1 gigawatt, compared with the bigger, more costly electrolyzers that will be needed for green hydrogen exports. The positive effect of hydrogen blending might not be instant, but it sure is aligned with Australia’s (Ory) pledge to achieve net-zero carbon emissions by 2050.

2. Densimeter: An instrument that measures the specific gravity of a mixture of gas, liquid and solids.

3. Flare : The burning of unwanted gas through a pipe.

4. Scrubber : A device to remove dirt, water, foreign matter, or undesired liquids that are part of the gas flowstream.

5. Desiccant : A substance used in a gas-dehydration unit to remove water and moisture.

Don’t forget to check our quiz on @speitssc’s story and get a chance to win OVO money or discount voucher for SPEECH!

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Shauna Noonan, 25 Influential Women in Energy Honoree A surprising fact about this former President of Society of Petroleum Engineers is that as a Vancouver native, Shauna Noonan certainly wasn’t raised with the thought of oil and gas being in her future, instead she had her mind on medicine at first. Meanwhile in pre-med, she was not enjoying herself and referred to it as a “cut-throat” experience. But with her love for geology, Shauna realized that petroleum engineering was the perfect fit.

Shauna Noonan is the Senior Director of Supply Chain Management for Occidental Petroleum Corporation. She also had experience working worldwide on artificial lift projects and technology development at ConocoPhillips and Chevron for over 22 years. She served on the SPE International Board of Directors as the Technical Director for Production and Operations and returned to lead the SPEI Board as the President. In 2020, Hart Energy Magazine named her as one of the 25 Most Influential Women in Energy.

3 1 Apr

PROTECT 2021

10 Apr

PETROLIDA 2021 : Main Event

“There are [approximately] 840 million people on this planet that still do not have access to electricity; knowing that I work in an industry that contributes to reducing energy poverty and improving the standard of living for individuals in this world is such a motivation.”

(Ory)

The Natural Phenomenon of Petroleum Seepage In the early days of petroleum exploration, oil wells were drilled randomly located next to the seepage. The technique was relatively successful at the time, especially before the development of seismic technology. Petroleum seeps on the surface are direct indicators of hydrocarbon accumulations in the subsurface, and it could reflect hydrocarbon migration in a sedimentary basin. Hydrocarbons in the subsurface can escape to the surface through fractures in rocks and weak points between geological layers as a result of high pressures at depths. Hydrocarbon seeps are often associated with faults, fractures, folds, unconformities, and salt domes structure. Seeps not only occur on land but can also occur under the sea above the subsurface petroleum sources.

(Sonny)