Big Data On Oil And Gas Sector Essay

This report is going to discuss the oil and gas production, exploration and fields in Bulgaria. The Bulgarian energy sector is comparably small in global terms, but is rather sizable in the country’s industrial portfolio. In detail, I will start the discussion with Morphotectonic provinces of Bulgaria and Bulgarian basins. I will introduce the 5 morphotectonic provinces and several Bulgarian basins. Then I will talk about the oil and gas fields in Bulgaria. The most popular oil and gas fields in Bulgaria are Tjulenovo Oil and Gas Field, which is located at the Black Sea coast on the northern slope of the Varna basin and was discovered in 1951 and is still producing, Dolni and Gorni Dubnik Oil and Gas Fields, these fields are located in the southern part of the Lorn (Moesian) Depression and Chiren Gas-Condensate Field, which is located in the west Fore-Balkan.

Canada has a large stake in the international oil market. It is currently the 6th largest producer of crude oil and last year the Canadian oil industry produced 3.8 million barrels of oil per day (Canadian Association of Petroleum Produces, 2016). Since oil is a significant part of the Canadian economy, fluctuations in the international price of oil will affect all Canadians. However, due to the fact that some provinces produce more oil than they consume and others consume way more than they produce, the impact of a significant increase in international oil prices on Canadians will be dependent on which province they reside in. More specifically an increase will positively impact the economic welfare of Canadians living or operating in resource rich provinces but will have a negative impact on the economic welfare of Canadians living or operating in

Since the 1970’s databases and report generators have been used to aid business decisions. In the 1990’s technology in this area improved. Now technology such as Hadoop has gone another step with the ability to store and process the data within the same system which sparked new buzz about “big data”. Big Data is roughly the collection of large amounts of data – sourced internally or externally - applied as a tool – stored, managed, and analyzed - for an organization to set or meet certain goals.

Known as the world capital of the oil and gas industry, Houston is known as the leading international center for virtually every segment of the energy industry. Being one of the biggest contributing factors to Houston’s economy, the oil industry plays a big role in how prices throughout the city pile up. However, after the oil industries recent bust, the economic aspect of Houstonians has also been affected. While some Houstonians are affected negatively, some others are affected positively. From job losses, to having access to lower gas prices, everyone in Houston has been affected one way or the other. The downturn of the oil industry has had an economic impact on the daily lives of Houstonians.

As Josh Fox, an American film writer and environmental activist, once said, "The problem is that everywhere the oil drilling industry goes, a trail of water contamination, air pollution, health concerns, and betrayal of basic American civic and community values follows." In making this comment, Fox argues that the expansion of the oil drilling industry should be limited because it presents many risks to the environment and the quality of life for countless people. The expansion of oil drilling is a major ethical dilemma in modern times as the government is creating reserves in which oil drilling companies are not allowed to explore. Oil exploration is needed for the industry to continue supplying the country with fuel, and gas prices will rise as the resources diminish. However, opening up regions to oil drilling will have detrimental effects on the environment and may put the future of humanity in danger because the use of oil is not sustainable. In debating this topic, it is important to consider the effects on the common good and the protection of the environment. Rather than opening federally reserved lands and waters to oil drilling, the United

crude oil allowed in at the bottom of the tower at a time so that the

At the core of the “Industry 4.0” there is big data that has become an important factor of production

The Standard Oil Company of California(Socal) is trying to determine how much to bid on the Gulf Oil Corporation. George Keller, the CEO of Socal, would need to borrow 14 billion dollars in order to make a substantial bid. While banks are willing to lend the money because of Socal's low to debt ratio, the loan would put the company in a highly leveraged position. In order to alleviate that debt, some of Gulf's assets could be sold. Keller has to consider the value of Gulf's exploration and development program when calculating future returns. Two billion dollars were being spent on the exploration and development program. This money could instead be used to reduce the debt if Socal acquired the company. However, the exploration program

Currently, the United States of America (US) produces the most nuclear powered electricity in the world, making over 30% (World Nuclear Association, 2017). The US has 100 nuclear reactors spread across the country, with a denser cluster in the East portion of the country (World Nuclear Association, 2017). The aggregate capacity of all of the US reactors produces 805 billion kWh, which is almost 20% of the US’s demand for electricity (World Nuclear Association, 2017). Consequently, the low gas prices delayed the rapid growth of nuclear power in the last 30 years, however, 2 reactors are under construction, and 4 additional reactors will commence commissioning in 2021 (World Nuclear Association, 2017). In

The oil industry can not be discussed without mentioning the name John D. Rockefeller. Rockefeller changed the business of oil distribution. In the 19th century Rockefeller began his humble beginnings with a small investment, along with two other partners, in the oil refining business. Eventually Rockefeller upset at the direction of the company bought out his partners. He was now buying into refining and developing kerosene and other petroleum-based products. He later named this company The Standard Oil Company which by 1872 nearly owned all the oil refineries in Cleveland. In 1882, Rockefeller took all his holdings and merged them into the Standard Oil Trust. Through smart business

The oil and gas industries involve a high amount of documentation for both transportation as well as extraction and field services. Activities are highly regulated, and subject to oversight from Federal Energy Regulatory Commission (FERC), the Department of Transportation (DoT), the Environmental Protection Agency (EPA), and the Department of the Interior (DoI). That said, the process of regulation is trending toward a more digitized system, with organizations like FERC having their own submission portals that implement a “fill-in-the-blank” platform to complete forms. However, not all forms have yet been converted to digital submission even in agencies with online portals, and other agencies still remain reliant on

The oil field in Scurry County, Texas is a part of the Horseshoe Atoll. It’s a part of the northern side of the Midland Basin, which is in the Central Basin Platform. Scurry County is on the east side of the Atoll. The Horseshoe Atoll is an accumulation of fossiliferous limestone. It was deposited in a shallow marine environment during the Permian and Pennsylvanian. The cap rock for the Atoll is a clay-sized formation. Oil was not produced in the reservoir rock. Due to decreasing porosity by increasing in depth, the oil was squeezed up to the rock it lays in now. The first well was done by Humble Oil and Refining Company on January 28th, 1947, but came up dry. The first oil-producing was by Sun Oil and Humble on July 16th, 1948. In 1948

Handover is where a project, commonly its facilities, are transferred or ‘handed over’ to the operator – which can be a third-party, government agency, another oil & gas company, or another division within the same company. Project turnover can be very difficult in not properly managed due to its vast complexity. Hundreds, often thousands, of documents must be finalized and prepared for handover with the facility, and this is sometimes the last thing that is on the project team and/or contractor’s agenda. A project can be fully commissioned and in operation but it cannot, and likely will not, be accepted by the operator if all required documentation is incomplete in the final handover package.

A close look at my Resume will indicate that I majored in the exploitation of oil and gas fields in my undergraduate program and specialized in petroleum engineering, a similar specialty, in my Master’s program. It may well be asked why I maintain such a close affinity with petroleum. The answer is simple and straightforward—because I was born and I grew up on an oil field and I have cherished a deep love for all that it represent. Even as a child, I had a habit of watching for hours how beam-pumping units, standing as if like a miniature forest, worked, indulging myself in all kinds of fantasies and reflections about the mysterious reservoir underground with great curiosity. I imagined that someday I would be able to unveil its mysteries. With the lapse of time, I am approaching the 30th year of my age and a cursory retrospection makes me realize that, for nearly a decade, I have been making efforts toward this objective. The black petroleum continues to hold me fascinated and spellbound with its infinite attractions. In order to understand petroleum better, I consider it necessary to travel to the other side of the Pacific Ocean to improve my knowledge and expertise in petroleum research.

The oil and gas industry can provide a rewarding career to those in a variety of positions in the field, office, technical, commercial, or managerial roles. To establish a rewarding career, one must approach learning with open ears and an open mind. Maintaining competency in constantly evolving technology or techniques and transitioning positions within an organization require successful individuals to adapt. Retooling and optimizing one 's approach to learning to fit his or her current situation allows one to become an essential asset a company does not want to lose. In this paper, I will examine my current approach to learning as a senior in Petroleum Engineering at LSU and how I plan to take the best possible approach to learning in the future.