The oil and gas industry will continue to boom in the coming few decades. Obtaining oil and gas from conventional and non-conventional resources will become more and more challenging. This intensifying need will impose very considerable demands on work force, financial and technology capabilities. Since the future supplies of oil and gas are to expand, advanced technology will become increasing...

The well known “Hubbert curve” assumes that the production curve of a crude oil in a free market economy is “bell shaped” and symmetric. The model was first applied in the 1950s as a way of forecasting the production of crude oil in the US lower 48 states. Today, variants of the model are often used for describing the worldwide production of crude oil, which is supposed to reach a global produc...

With the constant consumption of conventional oil and gas resources, unconventional oil and gas resources with great resource potential such as tight oil have gradually been valued and become the new exploration area. Jimsar Sag is the key tight oil exploration and development block in Junggar Basin of Northwestern China. Based on the data sets of geology, oil production test, logging, rock thi...

Crude oil is one of the most important energetic resources in the world. It is used as raw material in numerous industries, including the refinery-petrochemical industry, where crude oil is refined through various technological processes into consumer products such as gasoline, oils, paraffin oils, lubricants, asphalt, domestic fuel oil, vaseline, and polymers. Oil-derived products are also com...

Resource-based theory implicitly assumes that property rights to resources are secure. Extant property rights theory enables us to relax this assumption to take into account processes where there are struggles in establishing property rights that enhance the realized economic value of resources. A case study of oil field unitization (where a single firm is designated as unit operator to develop...

A significant share of the world's undiscovered oil and natural gas resources are assumed to lie under the seabed of the Arctic Ocean. Up until now, the exploitation of the resources especially under the European Arctic has largely been prevented by the challenges posed by sea ice coverage, harsh weather conditions, darkness, remoteness of the fields, and lack of infrastructure. Gradual warming...

Unconventional oils mainly heavy oils, extra heavy oils and bitumens represent a significant share of the total oil world reserves. Oil companies have expressed interest in unconventional oil as alternative resources for the energy supply. These resources are composed usually of viscous oils and, for this reason, their use requires additional efforts to guarantee the viability of the oil recove...

A primary component of our approach is the spatial distribution of resources throughout the study area. To map the spatial distribution of gas and oil resources, the quantities of resources from different estimates must be allocated to spatially defined units. The units used in this study are derived from the “plays” defined by the U.S. Geological Survey. Plays are sets of known or postulated o...