OIL DRILLING SAFETY

Injuries to oil and gas field service staff occur at double the speed as for general business staff and, of this cluster. The oil and gas drilling employees are exposed to even larger dangers because of the character of this kind of labour. It is vital for drilling operators, within the absence of strict pointers, to confirm that drilling activities are conducted in a safe manner. A sound safety program helps guard against drilling accidents that might cause environmental harm furthermore as injure staff. An honest safety program conjointly has the other advantages of lower insurance rates, lower maintenance prices, fewer worker edges claims, less lost production or productivity, and fewer legal fees and settlements. A number of the foremost common accidents related to drilling need to do with operating the slips, tongs, cat-lines, and elevators that area unit wont to handle the drill pipe, and alternative significant drilling instrumentation. Slippery rig floors and cable breaks conjointly contribute to accidents. Injuries are common either from falling or being hit by swinging objects. Most accidents includes harmful events like blowouts or the collapse of the derrick or mast. Worker coaching programs area unit a vital part of accident interference. Accidents are also reduced once the staff is trained properly, well orientated, impelled and preserved to become career oil field workers. Coaching of workers ought to embody data regarding basic principles of a well drilling operation:

1. The safe work operations and hazards related to the task.
2. Purpose and operation of drilling instrumentation,
3. Sulphide detection and safety instrumentation furthermore as emergency procedures
4. Fireplace protection and management,
5. Emergency escape procedures for workers functioning on the derrick mast or in confined areas
6. Data regarding personal protecting instrumentation. Workers clothing ought to be fitted (not loose) and embody long sleeves and pant legs.

It's conjointly wise that staff not wear jewellery, that hair be short or tied-back, and safety shoes, hard hats, goggles, face shields for fastening, safety glasses and/or hearing protection be worn as per requirement. Worker protection against falls conjointly wants attention. Measures like safety belts, lifelines and lanyards of appropriate strength, safety nets for work areas over 25' off the bottom and ladders in situ of "riding" mounting devices ought to be put in to safeguard employees within the event of a fall.

Precautionary measures for the work would come with correct lighting for performing at night, and therefore the prohibition of flame heaters in doghouses or outbuildings. Drill sites have to be compelled to have no-smoking space designations and fireplace and explosion protection instrumentation. Fire fighting instrumentation must get on hand. Responsibilities of individual staff in such an incident area unit to be announce within the doghouse. Additionally, the native department of local government should be referred to as within the event of a blowout. It's conjointly suggested that operators build regular operational tests of blowout preventers associated conduct coaching so as to be ready within the case of an accident. Mere blowout preventers area unit needed, they ought to be motivated and tested with rig air or another approved methodology before drilling out the shoe of the surface casing. Oil and gas courses in kerala .

EXPLORATION AND EVALUATION

Exploration is that the elaborated examination of an area with a mineral interest. Generally, the geographic area has incontestable sufficient potential to justify any exploration to determine whether or not oil and gas square measure gift in business quantities. The activities concerned in exploration square measure kind of like those within the pre‐license prospecting section, but they're typically concentrated on a smaller geographic area. Exploration activities square measure varied ,however square measure may include conducting geographics, geological, geochemical, and geology studies and preliminary drilling. In general exploring the possibility of petroleum involves techniques like conducting seismographic studies, core drilling, and ultimately, if alternative styles of exploration have indicated a sufficient chance that crude exists in business quantities, the drilling of exploratory wells so as to see whether or not business reserves really existed.

The process of analysis involves confirming and finding the presence and extent of reserves that are indicated by previous G&G testing and preliminary drilling. Preliminary wells may have found the presence of petroleum but, analysis and appraisal are typically necessary so as to justify the capital expenditures associated with the event and production of the reserves—in different words confirming that the reserves are industrial. Specifically, when Associate in Nursing preliminary well or multiple preliminary wells are trained into a reservoir and have resulted within the discovery of oil and/or gas reserves, extra wells, called appraisal wells, may be trained to achieve info regarding the dimensions and characteristics of the reservoir, to help in assessing its industrial potential, and to raised estimate the recoverable reserves. Additionally to drilling appraisal wells and presumably more geologic and geology testing, the appraisal and evaluation part usually includes conducting careful engineering studies to see the character and extent of the reserves and therefore the formulation of an inspiration for developing and manufacturing the reserves in order to get most recovery. promoting studies may additionally be necessary, particularly within the case of gas discoveries, so as to guage transportation prices and value potential. In U.S. operations, particularly in areas with a history of production, once associated in Nursing preliminary well finds reserves, the oil and public utility might in short measure the results of drilling so move directly into development.Oil and gas courses in kerala.

This is significantly probably in onshore operations in locations wherever associate degree existing transportation and marketing infrastructure exists. In U.S. domestic offshore operations, the market and transportation infrastructure might also be in place; but, drilling of further wells is also necessary so as to determine whether or not the reserves are capable of construction of a production platform, additional pipelines, and/or onshore facilities to handle the assembly. If further wells are trained in order to work out whether or not reserves are sufficient to justify putting in the mandatory infrastructure, they are typically treated as a section of the exploration part. In operations outside the US, the appraisal and analysis part is additional probably to be necessary and is probably going to far better outlined. PSC and risk service agreements typically specify sure appraisal activities that has got to be administrated by the contractor within the event that associate degree beta well indicates the presence of reserves. In these kinds of agreements, rather than appraisal activities being defined as a separate part, they're typically outlined as a particular set of activities occurring throughout the exploration part.

REFINERY AND PIPELINE IN INDIA

Indian firms are increasing plant capability and coming up with several green-field refineries. The oil majors of the world are seriously evaluating investments in India. Recently Bharat Petroleum declared the understanding for forming a venture with HPCL (Hindustan oil Corporation Ltd.) for a grassroots refinery. RIL has conjointly declared their interest in increasing processing capability from thirty three MMTPA to fifty MMTPA. India has ambitions to become the hub for oil product exports. Demand for oil product within the Asia Pacific region is calculable to be around twenty five to twenty seven million barrels per day (1.2-1.3 billion tonnes per year) in the year 2010. China with a requirement of around nine million barrels per day (447 million tonnes per year) and Japan at 5.2 million barrels per day (260 million tonnes per year) are expected to dominate future demand for energy product. However, the processing capability within the Asia Pacific region is expected to extend from the present twenty 1.9 million barrels per day (1.09 billion tonnes per year) to a most of twenty five million barrels per day within the year 2010 (Source : business Sources). The export potential in addition to the additional capability additions and new refineries offer a singular opportunity for potential investors. The chance exists within the type of investment in capability additions to the present refineries and forming consortium with non-public and NOCs to line up new refineries. Oil and gas courses in Kerala.

Major oil and organic compound firms would realize chance to partner with NOCs in their green field and enlargements. Further, equipment and technology suppliers will contribute to those that come with their specialized offerings with reference to engineering services, automation, IT, equipment etc. Under the steering of Ministry of fossil oil & Natural Gas and NOCs viz. Indian Oil and HPCL have decided on conducting experiments with numerous mixtures of bio diesel with diesel in State Transport buses in Haryana, Gujarat and urban center. Indian Oil has conjointly signed a MoU with Indian Railways for plantation of Jatropha curcus on railway land. In October 2005, the MoPNG has announced a bio-diesel purchase policy that comes into result from 1.1.2006. As per the policy the NOCs shall purchase bio-diesel of prescribed BIS specification from registered authorized suppliers through twenty purchase centers at a regular worth of US $ .55 per metric capacity unit. The acquisition price would be reviewed by the oil firms each six months with due consideration to plug conditions. Small and medium entrepreneurs would find opportunities in Bio-diesel conversion.

Crude and refined product pipeline infrastructure across the country would need to grow as works capacities grow. As per the present plan, crude and refined product pipeline infrastructure would increase between 4,065 km and 15,788 kilometer . As per the Tenth set up document of designing Commission, gas pipeline investments to the order of US$ 4.6 – 5.7 billion are expected within the plan amount ending 2007. The extra gas currently found within the kilogram basin on the eastern coast is predicted to be monetised between 2008 and 2011, for which extra pipeline investments are predicted. This demand of increase within the pipeline infrastructure within the country would give opportunities for the international gas (transportation) corporations, engineering corporations, EPC contractors and vendors of pipeline and equipments. Oil and Gas Institute

UPSTREAM, MIDSTREAM,DOWNSTREAM COMPANIES IN OIL INDUSTRY

Oil industry is divided into upstream, midstream and downstream companies.
Upstream: Companies that are involved in exploration and production of crude oil which mean extracting crude oil from subsurface are called upstream companies. Many national companies and private companies come under this category. They are mainly into  searching for potential underground and under water crude oil and natural gas fields, obtaining permission from the land owners to drill, drilling exploratory wells and then drilling ,conducting geological surveys and operating the wells that recover and bring the crude oil to the surface.
 Midstream companies: These are companies that purchase crude oil from the upstream companies. They further refine it to usable form. They follow the fractional distillation method to produce by products like kerosene, petrol,diesel etc.Refineries come under this category.
Downstream companies: They are involved in the process of purchasing product from midstream companies and sell it to the retailers.Oil marketing companies like Hindustan petroleum and Bharat petroleum come under this category.
Companies that come under the midstream and downstream have started playing the role of both hence categorizing companies is very difficult.Oil and gas courses.
The upstream industry requires huge amount of money to build the structure and maintain it. Maintenance is a fraction of the investment but is expensive. The upstream section involves a lot of risk and is rewarding at the same time. Political instability and seasonal weather patterns affect this sector. This sector is regulated by government and environmental entities. There is a visible change in the technology and hence the oil and gas industry is looking for skilled workers in all fields. The midstream sector doesn’t involve much risk and is a highly regulated segment of the oil and gas industry. Many companies are benefited from the midstream sector because of the different ways oil and gas is processed, transported and stored. Before moving to the downstream process technological companies benefit by trying to find efficient ways to transport and store the oil and gas.
The downstream companies on the other hand are not capital intensive. It deals with huge amount of money in transactions. This sector provides the easiest  connection to the everyday consumers. Some of the products of the downstream sector are Liquefied Petroleum Gas (LPG), Liquefied Natural Gas (LNG), Gasoline,Diesel Oil, Jet Fuel, Heating Oil, Synthetic Rubber, Plastics Lubricants, Fertilizers,   Pesticides etc. This sector plays  a major role in several  other industries because the products  refined and produced are used in many ways. The downstream sector produces plastics  which is used by many of the industries in packing or manufacturing. Natural  gas  of the downstream  plays a major role in the production of fertilizers and pesticides. The farm equipment's also run on the fuel produced in the downstream. Conventional transportation methods such as trucks, boats etc are required for the transportation of processed  natural gas and oil products. The downstream also influences the medical  industry  through the production of pharmaceuticals and medical equipment's. The downstream industry also creates a lot of job opportunities and thus plays a major role in the economy of the country.
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CRUDE OIL

Crude oil is in news right now with OPEC meeting this week. Crude Oil is under pressure on back of statement from Saudi Arabia which says there is unlikely to be consensus for production cuts. Adding to that is news that US Federal Reserve is looking to restrict bank involvement in physical commodities. Saudi Arabia is willing to make concessions in terms of its oil production, if Iran is willing to participate too. Iran has politely declined of holding its production at 3.6 million barrel per day (bpd). OPEC crude producers are preparing to increase production to the world at large. They are Libya and Nigeria. Both countries combined are expected to supply additional 8,00,000 barrels a day which will add more woes to already oversupplied crude oil market. Reduction in demand both in China and India has also contributed crude oil prices to weaken further in the face of near record output from OPEC producers. The International Energy Agency (IEA) has said, “Supply will continue to outpace demand into 2017.”Oil and Gas Courses in Kerala.

Recently crude oil is showing greater sensitivity . Since last month crude oil gained more than 9 per cent when inventory was declining but now with increasing production from Libya and Nigeria plus expectation of no positive deal this OPEC meeting has made crude oil vulnerable and correcting more than 5 per cent in 2 trading session. This year the US summer seasonal weekly inventory change is now running between the 3- and 5-year averages. However inventories haven’t done anything too out of the ordinary this summer even as US production has decreased. US shale production is expected to remain steady as long as crude is between $40 and $60

The production rate of US rigs has reduced since last year from March 2015 till March 2016 because of weak crude oil prices. However because of technological advancement, the scenario is that rig counts have decreased by 50 per cent in a year yet the production has only decreased by 12 per cent. The productivity has doubled in a year and any increase in productivity will be a huge threat to crude oil prices in future. Saudi Arabia now no longer controls the oil market, with US increasing its productivity. The number of active US oil drilling rigs has increased this week. Despite the negative fundamentals, technically crude oil still looks neutral to bullish. Large correction is expected if crude oil breaks below Rs 2850 per barrel. Crude oil is expected to trade in range and any breakout will come above Rs 3,200 or breakdown below Rs 2,850, till then it will be range-bound. Short term support for crude comes at Rs 2945 per barrel which is the trendline drawn from the swing low. It will be frustrating time for traders in crude oil as clear trend will not materialise until crude oil breaks out from the trading range.

Crude oil saw a reduction in prices in Asia thus commodity hitting 11-month highs earlier in the week. The losses were in line with a the sell-off on equities markets from Asia to the Americas led to losses which created a fear about the state of the global economy. The increase in US unemployment numbers, have made oil more expensive and dampening the demand. The new signs of tightening supplies can boost oil futures .If the positive developments we are seeing like the tightening supply (and) increasing demand in the oil sector continue to develop for the next couple of months, then maybe the strengthening US dollar might not have that great impact.

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OIL INDUSTRY

It has been a tumultuous five years for the oil industry.  Back in 2013 the sector was basking in earnings they had not seen since the financial crisis and as prices reached a high of $115 a barrel in the middle of 2014, Big Oil (the world’s largest six or seven publicly traded oil and gas companies) readied itself for another year of bumper profits. But as the cyclical nature of the industry dictates, the good times had to come to an end. By early 2015, only six months after reaching new highs, oil prices had plummeted below the $50 mark and by early 2016 prices had reached the trough at just $30.
Big Oil responded as it always does: by cutting costs and spending. When times get tough the oil industry becomes amazed at how wasteful it has been when oil prices were high, and always manages to find billions in savings when forced to, albeit with a lot of help from the oilfield services industry that has to ride in their wake.  With a sector now fit for business and back in profit, oil prices have continued to climb, reaching $78 in May 2018 (its highest level in over three years) with current prices only lingering just below that.
The current support behind oil prices is largely being driven by concerns over tightening supply in the global oil market. Political instability in both Venezuela and Libya, combined with imminent US sanctions on Iran, threatens as much as two million barrels of daily supplies – equal to over 2% of global daily production. Venezuela’s oil output has already dropped off a cliff, falling by around 700,000 barrels per day over the last year or so, and there are concerns over Libya’s contribution of one million barrels per day due to militia in the country threatening to hand over key oil ports to rivals of the state-owned oil company.
For Iran, the third largest producing country in the Organisation of the Petroleum Exporting Countries (OPEC), contributing about 3.8 million barrels per day, the situation is even more dire. Since the US pulled out of the Iran nuclear deal and warned it would impose new sanctions on the country, it has now been reported that the US is pressuring its allies to stop all imports of crude from Iran by November, which would be a much tougher stance than many first expected. With such a large amount of OPEC’s 32.4 million barrels of daily output under threat, the organisation’s leader, Saudi Arabia, and non-OPEC member but now close partner Russia have agreed to take action to plug the gap. Following the most recent meeting, the pair announced the organisation had agreed to raise daily output by one million barrels per day. Importantly, both Saudi Arabia and Russia are looking to add the majority of that bump-up in production, helping them to steal market share from other countries. However, Iran has claimed that no other member outside of Saudi Arabia or Russia had been given the go-ahead to turn on the taps, and has said that this will see a much smaller rise in OPEC production, of around 500,000 barrels daily. While Saudi Arabia is by far OPEC’s largest producer and willing to leverage its own excess capacity to get its point across to the market, there are concerns that it does not have as much as capacity as is needed.
Although OPEC only accounts for about one-third of global production, it is the closest thing there is to a central bank for the oil industry, tasked with balancing supply and demand and steering prices. This was especially true ten years ago, when the US was solely reliant on importing oil and producing just three million barrels per day. But the take-off of US shale has revolutionised the country’s energy production industry and pushed the US’s daily output to over eight million barrels per day in January 2018.In fact, the US will produce more energy than it needs within the next decade.This will make the US an energy exporter and rebalancing the relationship between the country and OPEC after decades of being heavily reliant on energy imports, albeit mostly from Canada but also from member nations. So, if the US has a growing oil industry and is slowly becoming less reliant on imports, why does it still rely on OPEC to manage the market and why does it want lower prices?
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