Engineering Economy in Upstream Oil & Gas Field Development: A Concise Appraisal Technique for Investment Decision in Upstream Oil/Gas Projects

Product Description

The business of upstream oil and gas industry is a complex process that involves multidisciplinary participation. Producing crude oil and natural gas from the subsurface reservoir rocks to the point of the selling terminal requires stage by stage processes that costs several hundreds of millions of dollars to the operating companies. Because of the capital intensive nature of upstream investments, every required process is challenged of its economic impact or benefits it will have on the project's net present value (NPV). The techniques applied in determining the economics of these processes and their selection criteria are addressed in the book. This book guides the reader through these strategic processes, and presents the participants involved in the business of upstream oil and gas prospecting and the conditions that dictate the field development and investment decisions by investors. It also reveals the shared interests and relationships that exist between international oil companies (IOCs) and national oil companies (NOCs) in the exploration and exploitation of their hydrocarbon resources and reserves. This text will serve the purpose of teaching and learning to those in the energy and financial sectors, as the methods, tools, and techniques discussed throughout the chapters will equip students, tutors, experts, and professionals with the necessary skills and knowledge of Exploration and Production (E&P) projects and energy financing and investment. The principles of project management as it applies in upstream oil/gas projects are discussed as well. And the criteria for project ranking, selection, and budgeting which are sine qua non to project financing and execution are well documented in this book.

About the Author

Mac Darlington Uche Onuoha (College of Safety and Ocean Engineering, China University of Petroleum (Beijing), China) Mac Darlington Uche Onuoha is an Assistant Professor of Solid/Fluid Mechanics and Offshore Oil & Gas Engineering at the College of Safety and Ocean Engineering, China University of Petroleum, Beijing. Dr. Onuoha is a young scholar with strong academic and research accomplishments. He has authored 7 publications in top international journals and conferences covering research areas such as, Flow Assurance in Deepwater Pipelines and Risers, Dynamics of Deepwater Riser Structures induced by Internal Severe Slug Loads, Multiphase Flow Simulation in Pipeline-Riser System, Finite Element Modeling and Analysis (FEM/FEA) of Offshore Structures, and Petroleum Economics and Feasibility Analysis of Upstream Investment. His research interest focuses on Fluid-Structure Interactions (FSI) of Subsea Production Systems, Dynamic Behaviour of Rigid & Flexible Risers, and Computational Fluid Dynamics of Multiphase Flows in Flowlines-Riser Pipe Systems.

Menglan Duan (College of Safety and Ocean Engineering, China University of Petroleum (Beijing), China) Menglan Duan is the Dean of the College of Safety and Ocean Engineering, China University of Petroleum, Beijing, and a Professor of solid mechanics and ocean engineering. Professor Duan is an astute scholar with international reputation and has published over 400 technical papers including 104 SCI-indexed journal papers. He has covered a wide range of research areas and has conducted over 170 projects related to fixed and mobile platforms, subsea pipelines and risers, subsea production systems in Artic Mechanics and Offshore Engineering, Subsea Engineering, Fatigue and Failures of Materials and Structures, Dynamics of Offshore Engineering Structures, Mechanical Behaviour of Materials, and Risk and Reliability in Offshore and Ocean Engineering. His other areas of interest include management and economic analysis of oil/gas projects.