Day 1: Big Picture of the Oil & Gas Industry

Understanding Petroleum

The oil and gas industry, often referred to as the lifeblood of the global economy, revolves around petroleum. But what exactly is petroleum? It's a naturally occurring, flammable liquid that is primarily composed of hydrocarbons. This vital resource plays a pivotal role in various sectors, from transportation to manufacturing.

Objectives of Oil and Gas Companies

Oil and gas companies have multifaceted objectives. They aim to explore, extract, and refine petroleum to meet the world's energy demands. However, these corporations also seek to do so profitably while addressing environmental concerns and ensuring safety.

Industry Streams and World Reserves

The industry can be divided into upstream, midstream, and downstream sectors. Upstream involves exploration and production. Midstream covers transportation and storage, and downstream includes refining and distribution. Understanding these streams is essential to grasp the industry's complexities.

Peak Oil and Production Management

The concept of peak oil involves the point in time when the world's oil production reaches its maximum. After this, production gradually declines. Managing production efficiently while considering this concept is crucial for long-term sustainability.

Quotas and Capacities (OPEC/Non-OPEC)

Oil-producing nations, both within and outside OPEC (Organization of the Petroleum Exporting Countries), play a significant role in global oil supply. Understanding quotas and production capacities is vital for comprehending market dynamics.

Market Distribution and Dynamics

The distribution of oil and gas products spans the globe. Market dynamics are influenced by supply and demand, geopolitical factors, and economic trends. These dynamics often result in price fluctuations.

Role of IOCs, NOCs, and Regulatory Bodies

International Oil Companies (IOCs), National Oil Companies (NOCs), and regulatory bodies all have distinct roles in the industry. IOCs often operate globally, while NOCs are state-owned entities. Regulatory bodies ensure compliance with safety and environmental standards.

Fundamentals of Drilling

Rig Types and Drilling Team

Drilling is a fundamental aspect of the industry. It involves various rig types, such as rotary and directional rigs, and a skilled drilling team that operates them.

Drilling Fluids, Well Design, and Directional Drilling

The drilling process requires the use of drilling fluids for lubrication and cooling. Well design and directional drilling techniques are essential to reach oil and gas reservoirs effectively.

Routine Drilling Operations, Well Monitoring, and Control

Once drilling begins, routine operations ensure the smooth progress of the project. Well monitoring and control are vital to prevent complications and maintain safety.

Wellbore Problems and Preventions

Drilling isn't without challenges. Wellbore problems, such as blowouts and reservoir damage, can occur. Understanding these issues and implementing preventive measures is critical.

Offshore Drilling and Differences from Land Drilling

Offshore drilling introduces unique challenges due to the marine environment. It requires specialized equipment and procedures that differ from land drilling.

Day 2: Drilling Cost Analysis

Drilling Cost Estimation and AFE

Analysing the cost of drilling operations is essential for project planning. This involves estimating costs and creating an Authorization for Expenditure (AFE) to ensure financial control.

Daily Rig Rate, Operating Costs, and Contingencies

The daily rig rate, which includes labour, equipment, and maintenance, is a significant part of drilling costs. Operating costs and contingencies must also be considered.

Non-Productive Time and Optimisation

Reducing non-productive time, such as downtime due to equipment failures, is key to cost efficiency. Optimisation strategies help maximize drilling productivity.

Directional and Horizontal Drilling

Directional and horizontal drilling techniques are used to access hard-to-reach reserves. Understanding when and how to use these methods is crucial.

Drilling Bit Types and Selection

The choice of drilling bits directly impacts drilling performance. Different types of bits are suited for various geological formations and conditions.

Drilling Hydraulics and Optimisation

Hydraulics plays a pivotal role in drilling operations. Optimising hydraulic systems ensures efficient drilling and minimizes wear and tear on equipment.

Day 3: Drilling Fluids, Logistic Support, and Safety

Functions and Properties of Drilling Fluids

Drilling fluids serve several functions, including cooling, cleaning, and transporting cuttings. Understanding their properties is essential for effective drilling.

Logistic Support, Including Weather Conditions and Vessels

Logistic support is crucial, especially in offshore drilling. Factors like weather conditions and the availability of suitable vessels can significantly impact operations.

Health, Safety, Environment, and Security Considerations

The industry places a strong emphasis on health, safety, environmental protection, and security. These considerations are at the forefront of all drilling activities.

Well Completion and Production

Well completion involves the final steps to prepare a well for production. This includes well testing and the use of artificial lift techniques to extract hydrocarbons.

Case Studies and Course Summary

Real-world case studies provide valuable insights into drilling projects. A summary of the course ties together the key learnings in the oil and gas industry.

This comprehensive course covers the essential aspects of the oil and gas industry, drilling, and cost analysis, with a strong focus on safety, environmental concerns, and logistical considerations.

Conclusion

In the ever-evolving world of oil and gas, understanding the intricacies of petroleum, drilling, and cost analysis is paramount. This knowledge not only drives the industry forward but also ensures that it does so responsibly and safely.

Day 1: Big Picture of the Oil & Gas Industry

1. Understand what petroleum is and its significance in the global economy.
2. Explore the multifaceted objectives of oil and gas companies, including exploration, extraction, profitability, safety, and environmental considerations.
3. Differentiate between the upstream, midstream, and downstream sectors of the industry and their roles.
4. Comprehend the concept of peak oil and the importance of production management.
5. Gain knowledge about quotas and production capacities, especially in relation to OPEC and non-OPEC countries.
6. Analyse market distribution and dynamics influenced by supply and demand, geopolitical factors, and economic trends.
7. Recognise the roles of International Oil Companies (IOCs), National Oil Companies (NOCs), and regulatory bodies in the industry.
8. Learn the fundamentals of drilling, including rig types, drilling teams, drilling fluids, well design, and directional drilling.
9. Understand routine drilling operations, well monitoring, and control to ensure safety and project progress.
10. Identify common wellbore problems and their prevention methods.
11. Differentiate offshore drilling from land drilling, considering the unique challenges and procedures involved.

Day 2: Drilling Cost Analysis

1. Understand the importance of drilling cost estimation and the creation of an Authorization for Expenditure (AFE) for financial control.
2. Analyse the components of drilling costs, including daily rig rates, operating costs, and contingencies.
3. Learn strategies for reducing non-productive time and optimising drilling efficiency.
4. Gain knowledge about directional and horizontal drilling techniques for accessing hard-to-reach reserves.
5. Understand the significance of choosing the right drilling bits for various geological formations and conditions.
6. Explore the role of drilling hydraulics and its optimisation in ensuring efficient drilling operations.

Day 3: Drilling Fluids, Logistic Support, and Safety

1. Understand the functions and properties of drilling fluids in the drilling process.
2. Recognise the importance of logistic support, including factors like weather conditions and vessel availability, especially in offshore drilling.
3. Gain insight into the industry's strong emphasis on health, safety, environmental protection, and security.
4. Learn about well completion, including well testing and the use of artificial lift techniques for hydrocarbon extraction.
5. Explore real-world case studies to gain practical insights into drilling projects.
6. Summarise the key learnings from the entire course and their relevance to the oil and gas industry.

Overall, the course aims to provide a comprehensive understanding of the oil and gas industry, drilling operations, and cost analysis, with a strong focus on safety, environmental considerations, and logistical support. It prepares learners to navigate the complexities of the industry and contribute to its responsible and safe advancement.