Aramco CEO Assures Employees of Company’s Strength

Saudi Aramco is well prepared to face the steep drop in oil prices in the short and medium term, and it has made some adjustments in light of the price fall, according to CEO Khalid A. Al-Falih.
Al-Falih said in a memo published in the company’s internal Arabic weekly magazineQafilah that he understands that the current market situation has created ambiguity among company employees and their families about the company's ability to cope with sharply lower oil prices. “That’s why I am here confirming to you that we have strengthened our position when oil prices were high, as we expected this scenario to happen,” Al-Falih said in the memo. “We are able to maintain our long-term commitments, and we will continue our work with high flexibility, efficiency, and wisdom.”

Despite the recent drop in oil prices, Saudi Aramco CEO Khalid A. Al-Falih said the company will "maintain [its] long-term commitments."

The current situation offers an opportunity for Saudi Aramco, he said. “For example, amid these circumstances, we will be able to execute our projects at lower prices because others will be obliged to postpone their projects. This will lead service providers to slash their prices in order to get work,” he said.
Al-Falih said he expects many oil and gas companies will lay off employees, which may offer an opportunity for Saudi Aramco. “We will be able to hire talented people and experts we need to keep our investments going on,” he said.
Meanwhile, Al-Falih said that his company made eight discoveries in 2014, which will help boost the company’s overall reserves. “In addition, our gas production capacity has hit historic levels at 8 billion cubic feet per day,” he said.
By: Abdelghani Henni is the Middle East Editor for the Journal of Petroleum Technology

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Schlumberger to cut 9,000 employees, including in Houston

HOUSTON – Oil field giant Schlumberger said Thursday it will cut approximately 9,000 employees – around 7.5 percent of its workforce around the globe – as both petroleum prices and oil-company spending nosedive.

Schlumberger’s profits fell 82 percent in the fourth quarter as it wrote down $1.7 billion in assets. It said it recorded a $296 million charge related to its headcount reduction.

Robert Drummond, President of Schlumberger North America (left) and Jeremy Aumaugher, South Division Operations Manager (Tom Reel/ San Antonio Express-News)

“It’s very unfortunate, but this is definitely not going to be the last headcount reduction in 2015 in the energy space,” said Rob Desai, an analyst with Edward Jones. “The goal is to position the company to come out of this downturn stronger.”

The oil-tool maker banked $302 million, or 23 cents a share, in net income in the October-December period, compared to $1.66 billion, or $1.26 a share, in the same period in 2013. Its revenues were up from $11.9 billion to $12.6 billion.

The job reductions began in the fourth quarter and are expected to be completed later this year, Schlumberger spokesman Stephen Harris said in an email.

“These global reductions encompass many geographic regions in which we operate, including the Houston area,” Harris said. The company is “not releasing any details on exactly how many and where these reductions are coming from, however.”
The company took an $800 million impairment charge when it retired some of the seismic vessels from its fleet. Schlumberger also took a $472 million devaluation charge on the devaluation of Venezuela’s currency against the U.S. dollar. And it saw $199 million impairment charge as the value of an investment in the Eagle Ford Shale sunk.
Traders reversed a large portion of Wednesday’s rally in crude oil. Futures for international Brent crude fell $1.02 to $47.67 per barrel on London’s ICE Futures Europe market. U.S. benchmark West Texas Intermediate fell $2.23 to $46.25 a barrel on the New York Mercantile Exchange.

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Wireline Log Quality Control Reference Manual by Schlumberger

This Log Quality Control Reference Manual (LQCRM) is the third edition of the log quality control specifications used by Schlumberger. It concisely provides information for the acquisition of high-quality data at the wellsite and its delivery within defined standards. The LQCRM also facilitates the validation of Schlumberger wireline logs at the wellsite or in the office.

Produced by: Schlumberger

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Standard Handbook of Petroleum and Natural Gas Engineering Edition 2

This new edition of the Standard Handbook of Petroleum and Natural Gas Engineering provides you with the best, state-of-the-art coverage for every aspect of petroleum and natural gas engineering. With thousands of illustrations and 1,600 information-packed pages, this text is a handy and valuable reference.
Written by over a dozen leading industry experts and academics, the Standard Handbook of Petroleum and Natural Gas Engineering provides the best, most comprehensive source of petroleum engineering information available. Now in an easy-to-use single volume format, this classic is one of the true "must haves" in any petroleum or natural gas engineer's library.
* A classic for the oil and gas industry for over 65 years!
* A comprehensive source for the newest developments, advances, and procedures in the petrochemical industry, covering everything from drilling and production to the economics of the oil patch.
* Everything you need - all the facts, data, equipment, performance, and principles of petroleum engineering, information not found anywhere else.
* A desktop reference for all kinds of calculations, tables, and equations that engineers need on the rig or in the office.
* A time and money saver on procedural and equipment alternatives, application techniques, and new approaches to problems.

ًWritten by: William C. Lyons, Ph.D., P.E.

Contents

Preface. RESERVOIR ENGINEERING. Basic Principles, Definitions, and Data. Formation Evaluation. Pressure Transient Testing of Oil and Gas Wells. Mechanisms and Recovery of Hydrocarbons by Natural Means. Material Balance and Volumetric Analysis. Decline-Curve Analysis. Reserve Estimates. Secondary Recovery. Fluid Movement in Waterflooded Reservoirs. Estimating Waterflood Residual Oil Saturation. Enhanced Oil Recovery Methods. References. PRODUCTION ENGINEERING. Properties of Hydrocarbon Mixtures. Flow of Fluids. Natural Flow Performance. Artificial Lift Methods. Stimulation and Remedial Operations. Surface Oil Production Systems. Gas Production Engineering. Corrosion and Scaling. Environmental Considerations. Offshore Operations. References. PETROLEUM ECONOMICS. Estimating Oil and Gas Reserves. Classification of Petroleum Products. Methods for Estimating Reserves. Non-Associated Gas Reservoirs. Production Stimulation.Determining the Value of Future Production. The Market for Petroleum. Economics and the Petroleum Engineer. Preparation of a Cash Flow. Valuation of Oil and Gas Properties. Risk Analysis. References. Appendix: Units and Conversions (SI). Index.

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Basic Well Log Analysis for Geologists

Reader's Review
This is a very fine introduction to petroleum well log analysis. It is written very clearly and designed from the ground up as a text, not just a list of examples.

Written by : Asquith, George B.

The principles are well stated and the logging curves that were available at publication date are all discussed in seperate chapters. Actual interpretation which involves suites of logs is presented clearly in later chapters, each technique having its own chapter. There follows a quarter of the book's volume on case studies which is good, but the previous three quarters are what sets this book above most other log analysis texts. Asquith also has a text devoted exclusively to shaley sand analysis where the reader may want to go for further treatment of this aspect of log analysis. I believe there is a more recent version of this book than the 1982 version I have and that version likely will have a few more recently applied types of logging curves incorporated into it.

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Oil Well Stimulation By Schechter

This book is intended as a text for both undergraduate and graduate course in petroleum engineering, with particular emphasis on the subject of well stimulation. There are ample materials and sufficient end-of-chapter homework problems of varying difficulty to satisfy the needs of both courses. Parts of the book have also served a basis for industrial short courses, and it is hoped that some of the material presented will also be of value to researchers engaged in developing new stimulation processes or products. However, the primary audience is thought to be university students interested in petroleum engineering.

Written by: Robert S. Schechter

No. of pages: 640

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Lecture Notes on Applied Reservoir Simulation

Reservoir simulation, or modeling, is one of the most powerful techniques currently available to the reservoir engineer. The author, Prof Leonard F Koederitz, (Distinguished Teaching Professor Emeritus at the University of Missouri-Rolla) is a highly notable author and teacher, with many teaching awards. This book has been developed over his twenty years in teaching to undergraduate petroleum engineering students, with the knowledge that they would in all likelihood be model-users, not developers. Most other books on reservoir simulation deal with simulation theory and development. For this book, however, the author has performed model studies and debugged user problems; while many of these problems were actual model errors (especially early on), a fair number of the discrepancies resulted from a lack of understanding of the simulator capabilities, or inappropriate data manipulation. The book reflects changes in both simulation concepts and philosophy over the years.

Written by: Leonard F. Koederitz

No. of pages: 108

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Relative Permeability of Petroleum Reservoirs

A more useful form of Darcy's law can be obtained if we assurne that a rock which contains more than one fluid has an effective permeability to each fluid phase and that the effectivep ermeabilityt o each fluid is a function of its percentages aturation.T he effective permeabilityo f a rock to a fluid with which it is 1007.os aturatedis equal to the absolute permeability of the rock. Effective permeability to each fluid phase is considered to be independenot f the other fluid phasesa nd the phasesa re consideredto be immiscible. If we define relative permeability as the ratio of effective permeability to absolute permeability, Darcy's law may be restated for a system which contains three fluid phases as tirllows.

Written by: Mehdi Honarpour, Leonard Koederitz, A. Herbert Harvey

No. of pages: 141

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Mathematical Methods and Modelling in Hydrocarbon Exploration and Production (Mathematics in Industry)

Hydrocarbon exploration and production incorporate great technology challenges for the oil and gas industry. In order to meet the world's future demand for oil and gas, further technological advance is needed, which in turn requires research across multiple disciplines, including mathematics, geophysics, geology, petroleum engineering, signal processing, and computer science.
This book addresses important aspects and fundamental concepts in hydrocarbon exploration and production. Moreover, new developments and recent advances in the relevant research areas are discussed, whereby special emphasis is placed on mathematical methods and modelling. The book reflects the multi-disciplinary character of the hydrocarbon production workflow, ranging from seismic data imaging, seismic analysis and interpretation and geological model building, to numerical reservoir simulation. Various challenges concerning the production workflow are discussed in detail.

Written by: Armin Iske, Trygbe Randen

No. of pages: 451

The thirteen chapters of this joint work, authored by international experts from academic and industrial institutions, include survey papers of expository character as well as original research articles. Large parts of the material presented in this book were developed between November 2000 and April 2004 through the European research and training network NetAGES, "Network for Automated Geometry Extraction from Seismic". The new methods described here are currently being implemented as software tools at Schlumberger Stavanger Research, one of the world's largest service providers to the oil industry.

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Petroleum engineering Principles and practice

The need for this book has arisen from demand for a current text from our students in Petroleum Engineering at Imperial College and from post-experience Short Course students. It is, however, hoped that the material will also be of more general use to practising petroleum engineers and those wishing for aa introduction into the specialist literature.
The book is arranged to provide both background and overview into many facets of petroleum engineering, particularly as practised in the offshore environments of North-West Europe. The material is largely based on the authors' experience as teachers and consultants andsupplemented by worked problems where they are believed to enhance understanding.

Written by: J.S. Archier & C.G. Wall

No. of pages: 375

The authors would like to express their sincere thanks and appreciation to all the people who have helped in the preparation of this book by technical comment and discussion and by giving permission to reproduce material. In particular we would like to thank our present colleagues and students at Imperial College and at ERC Energy Resource Consultants Ltd. for their stimulating company, Jill and Jane1 for typing seemingly endless manuscripts; Dan Smith at Graham and Trotman Ltd. for his perseverence and optimism; and Lesley and Joan for believing that one day things would return to normality.

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worldwide practical petroleum reservoir engineering methods

This text is written to include reservoirs that produce under steady-state conditions at much higher rates. You can be better prepared to solve reservoir engineering problems, in the U.S. and around the world. Problems are presented throughout the book to give you hands-on experience with various field calculations. Contents: Acquiring reservoir engineering data Resrvoir fluid flow fundamentals Unsteady & pseudosteady-state flow Well pressure behavoir analysis Material balance Gas reservoir engineering Fluid distribution & frountal displacement Decline-curve analysis Water-flooding & variations Enhanced oil recovery Reservoir computerr modeling Reservoir engineering symbols Empirical reservoir engineering data Solutions.

Written by: H. C. Slider

No. of pages: 849

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Enhanced Oil Recovery By Don W. Green and G. Paul Willhite

This textbook describes technologies that can be applied to recover oil that cannot be produced by primary recovery or waterflooding. These technologies include polymer, micellar-polymer, and CO2 flooding, as well as thermal-recovery processes that are typically implemented following primary production. A prior understanding of basic petrophysics, fluid properties, and material balances is recommended.

Written by: Don W. Green and G. Paul Willhite

No. of pages: 545

Contents: Introduction to EOR processes • Microscopic displacement of fluids in a reservoir • Displacement in linear systems • Macroscopic displacement of fluids in a reservoir • Mobility-control processes • Miscible displacement processes • Chemical flooding • Thermal recovery processes

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Upscaling Multiphase Flow In Porous Media

This book provides concise, up-to-date and easy-to-follow information on certain aspects of an ever important research area: multiphase flow in porous media. This flow type is of great significance in many petroleum and environmental engineering problems, such as in secondary and tertiary oil recovery, subsurface remediation and CO2 sequestration. This book contains a collection of selected papers (all refereed) from a number of well-known experts on multiphase flow. The papers describe both recent and state-of-the-art modeling and experimental techniques for study of multiphase flow phenomena in porous media. Specifically, the book analyses three advanced topics: upscaling, pore-scale modeling, and dynamic effects in multiphase flow in porous media. This will be an invaluable reference for the development of new theories and computer-based modeling techniques for solving realistic multiphase flow problems. Part of this book has already been published in a journal. Audience This book will be of interest to academics, researchers and consultants working in the area of flow in porous media.

Written by: D.B. DAS, S.M. HASSANIZADEH
No. of pages: 258

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Reservoir Sandstones

DESIGNED FOR:
Geologists, geophysicists, petrophysicists, reservoir and production engineers, exploration-production managers, all team members involved in reservoir characterization, technicians working with clastic reservoirs. The course provides a refresher in new concepts in this field for geoscientists at a foundation level.

Written by: Robert R. Berg.

YOU WILL LEARN HOW TO

• Interpret clastic depositional environments using data from cores, cuttings and wireline logs (including FMI).
• Apply new sequence stratigraphic concepts to clastic reservoirs.
• Correlate wells using knowledge of depositional environment.
• Predict reservoir size, shape, trend and quality.

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Integrated Reservoir Studies

Over the last decade, professionals in the various reservoir disciplines (geology, geophysics, petrophysics and reservoir engineering) have learned to work together and strive for synergy. They have created multidisciplinary teams and organized common working environments where they compile integrated databases, design interoperable applications, and share earth models. This integration process generates extra value. When applied to reservoir studies, it can help foster more effective, less expensive projects. What, however, does integration really mean, under everyday working conditions? Which new technical and professional challenges must be faced? What kind of changes does it imply for traditional ways of working? What is the role of the project leader in this process? The goal of this book is to provide answers to these questions, and to highlight the critical differences between an integrated reservoir study and a traditional one. In his foreword, J.C. Sabathier writes: "To every professional, I recommend without hesitation to keep this precious manual at hand, as a reference for those decisions that are outside their domain of excellence. I only regret I had to wait until the year 2001 to encounter such a manual."

Written by: Luca Cosentino

No. of pages: 328

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Practical Reservoir Simulation

Practical Reservoir Simulationuses a descriptive style on how to practically carry out reservoir simulations, written by a seasoned practicing simulation engineer. Mathematical development is kept to a minimum since this is covered in depth in many books and the literature.
In particular, it shows how to link geology and simulation input the most critical aspect of successful reservoir simulation.

Written by: Mike Carlson
No. of pages: 564

Practical Reservoir Simulation covers all of the fundamental techniques that are unique to reservoir simulation, such as pseudo relative permeability. The second half of the book describes advanced studies, compositional modelling, hydraulically fractured and horizontal wells, EOR processe and thermal simulation with a heavy emphasis on steam assisted gravity drainage (SAGD). This reference provides a unique resource for individuals working in this field.

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Working guide to Reservoir rock properties and Fluid flow

Naturally occurring hydrocarbon systems found in petroleum reservoirs are mixtures of organic compounds that exhibit multiphase behavior over wide ranges of pressures and temperatures. These hydrocarbon accumulations may occur in the gaseous state, the liquid state, the solid state, or in various combinations of gas, liquid, and solid.
These differences in phase behavior, coupled with the physical properties of reservoir rock that determine the relative ease with which gas and liquid are transmitted or retained, result in many diverse types of hydrocarbon reservoirs with complex behaviors. Frequently, petroleum engineers have the task to study the behavior and characteristics of a petroleum reservoir and to determine the course of future development and production that would maximize the profit.
The objective of this chapter is to review the basic principles of reservoir fluid phase behavior and illustrate the use of phase diagrams in classifying types of reservoirs and the native hydrocarbon systems.

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First Steps In Seismic Interpretation

In his classic text Seismic Prospecting for Oil, C. Hewitt Dix remarked that the correlation of one reflection record with another, that is, the interpretation of seismic data, is a procedure that “can hardly be described in words.” First Steps in Seismic Interpretation (Geophysical Monograph Series No. 16) is a book about fundamental concepts and practices of seismic interpretation that attempts to achieve such a description. Intended for beginning interpreters, this book approaches interpretation via synthesis of concepts and practical applications rather than through formal treatment of basic physics and geology. It is based on Don Herron's personal experience as a seismic interpreter and is organized along the lines of notes from interpretation classes that he designed and teaches.

Written by: Donald A. Herron, Rebecca B. Latimer

No. of pages: 203

Fundamentals of Geophysical Interpretation is a practical handbook for the petroleum geophysicist. Fundamental concepts are explained using heuristic descriptions of seismic modeling, deconvolution, depth migration, and tomography. Pitfalls in processing and contouring are described briefly. Applications include petroleum exploration of carbonate reefs, salt intrusions, and overthrust faults. The book includes past, present, and possible future developments in time-lapse seismology, borehole geophysics, multicomponent seismology, and integrated reservoir characterization.

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Geology and Geochemistry of Oil and Gas

This book discusses the progress that is being made through innovations in instrumental measurements of geologic and geochemical systems and their study using modern mathematical modeling. It covers the systems approach to understanding sedimentary rocks and their role in evolution and containment of subsurface fluids.

Written by: G.V. Chilingar, L.A. Buryakovsky, N.A. Eremenko & M.V. Gorfunkel

No. of pages: 391

Fundamental aspects of petroleum geology and geochemistry, generation, migration, accumulation, evaluation and production of hydrocarbons are discussed with worldwide examples. Various physical and chemical properties of subsurface waters, crude oils and natural gases are described which is especially important to production engineering. Among various properties of liquid and gaseous hydrocarbons the most important are wettability affecting production characteristics and ultimate recovery: relative permeability affecting reservoir fluid flow to the production wells; density differences between immiscible fluids which affects gravity drainage; viscosity of subsurface fluids affecting the relative mobility of each fluid; and fluid chemistry, which affects the absorption, ultimate recovery and monetary value of produced hydrocarbons.

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Geochemistry

This book provides a comprehensive introduction to the field of geochemistry. The book first lays out the ‘geochemical toolbox’: the basic principles and techniques of modern geochemistry, beginning with a review of thermodynamics and kinetics as they apply to the Earth and its environs. These basic concepts are then applied to understanding processes in aqueous systems and the behavior of trace elements in magmatic systems. Subsequent chapters introduce radiogenic and stable isotope geochemistry and illustrate their application to such diverse topics as determining geologic time, ancient climates, and the diets of prehistoric peoples. The focus then broadens to the formation of the solar system, the Earth, and the elements themselves. Then the composition of the Earth itself becomes the topic, examining the composition of the core, the mantle, and the crust and exploring how this structure originated. A final chapter covers organic chemistry, including the origin of fossil fuels and the carbon cycle’s role in controlling Earth’s climate, both in the geologic past and the rapidly changing present.

Written by: William M. White

Geochemistry is essential reading for all earth science students, as well as for researchers and applied scientists who require an introduction to the essential theory of geochemistry, and a survey of its applications in the earth and environmental sciences.

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