PROJECT MANAGEMENT IN OIL AND GAS Project Management in Oil and Gas

Project Management in Oil and Gas

Introduction

Oil and gas industry sector of the economy engaged in processing, production, transportation, marketing and storage of natural mineral resources, oil and related petroleum products. For related industries include drilling, geophysics, oil and gas production tools and equipments. The foundation of the oil industry is upright integrated oil companies (Abel et al, 1994).

The purpose of processing of oil (petroleum) is the production of petroleum products, primarily different fuels and raw material for subsequent chemical processing. Kerosene, gasoline, diesel oil and industrial oils are divided into different grades depending on the chemical composition. Oil can be broken down into its subordinate forms by the help of the conventional method that is called as Fractional Distillation. The final stage of production refinery is to mix the received components for finished products desired composition.

Oil production is a complex manufacturing process, including exploration, drilling wells and repair, cleaning of crude oil from the water, sulfur, wax and more. Engaged in oil production oil and gas management enterprise o r a structural unit of the enterprise) is engaged in mining and pumping "crude" oil and gas to a host of commercial accounting (Legault, 2008, pp.101-103).

Formation of Hydrocarbons

The hydrocarbons fashioned by gas and carbon, area unit the "bricks" of major oil that's created. Geologists and geochemists believe that just about all hydrocarbons (above ninety nine percent) gift in commercially created oil, have a biological origin, having been fashioned by the decomposition of the remains of organisms that were buried underneath layers of sediments crust. But hydrocarbons of strictly chemical origin, i.e. abiogenic could end in sure earth science settings, deeper within the crust or maybe longer within the mantle.

These eventualities might embrace geologic process zones, as noted Giulia Galli, University of Golden State at Davis and author of the new study, during which colleagues have conjointly worked at the university further as scientists from alternative establishments (Matthews & Burati, 1989).

Simulation of Liquid Methane

Although it is impossible to think of the possibility of exploiting these hypothetical oil reserves, is not a reasonable option. The line of research not addressed in this study aims to find new sources of oil, but to better understand the carbon cycle on Earth (Ahmed, 1995, pp.45-47).

Value Chain of Oil and Gas Industry(s)

Fig. Oil and Gas Value Chain

Legal and Regulatory Environment

The legal issue is one of legal and vital points to ensure the economic viability of any energy project. It is the basis of every enterprise, establishing the rights and obligations of each party involved in the operations, royalties and taxes payable, execution times, the percentage of shareholding and many other items related to the exploration and exploitation oil and gas field.

This has been noted both in the legislation related to the exploitation of oil and gas properties as blocks and with regard to promoting the exploration and development of basins not yet productive. At present, some countries in the region have adopted policies with greater ...