Bargaining strategy of oil companies in international oil and gas development Projects-Based on a bilateral bargaining model

Bargaining between the host country and oil companies is very common to international oil and gas development projects.The existence of information asymmetry gives the host country an endogenous bargaining advantage.Foreign oil companies might change their unfavorable negotiating position by changing the order of bidding and adjusting bidding strategies.This paper introduces both factors into a bilateral bargaining model to study the impact of information asymmetry and bidding order on the strategy and equilibrium returns of oil companies.According to the ownership of the right to bid first,two scenarios are designed for the model to compare the equilibrium returns of the host country and oil companies.The results show that:1)There is a first-mover advantage in the process of bilateral bidding,so oil companies better bid first;2)The information asymmetry will lead to a higher nominal income ratio of oil companies and a lower nominal income ratio of the host country,but it doesn’t affect the total income ratio at all.

Study on the Environmental Impact of Oil and Gas Field Development on the Ecological Red Line Area

To cooperate with the five ministries and commissions of the state to carry out joint investigation on the environmentally sensitive areas involved in oil and gas exploration and development,for the problems found in survey,containing complex type and numerous amount of ecologically sensitive space and ecological red line involved in oil and gas field enterprises,scientific nature of delimitation,lack of strong support of laws and regulations for forced withdrawal of oil and gas production facilities in these areas,some countermeasures and suggestions were proposed,such as further evaluating and combing scope and functional zoning of existing environmentally sensitive areas and ecological red lines,treating differently,enhancing pertinence of prohibition in ecologically sensitive regions,declining blindness of the withdrawal of oil and gas facilities in environmentally sensitive areas,strengthening seriousness of approval of exploration and mining rights of oil and gas resources,and establishing strategic reserve exploration and hierarchical development mechanism. Moreover,oil and gas field enterprises should integrate more efforts to ① accelerate to find out the current situation of environmental quality,② adhere to developing in protection,and protecting in development,③ increase attention and participation strengthen of providing technical support for national oil and gas exploration and development strategy evaluation,④ accelerate communication and docking with local governments on the ecological red line,⑤ actively strive to be included in the positive list management of local governments,⑥ accelerate to establish and perfect primary database of oil and gas production and facilities construction,and ⑦ document management information system of the ecological red line.

Analysis of the world deepwater oil and gas exploration situation

The global trends in deepwater oil and gas exploration,characteristics of deepwater oil and gas discovery,and layout of deepwater oil and gas exploration business by seven major international oil companies are systematically analyzed using commercial databases(e.g.S&P Global and Rystad)and public information of oil companies.The deepwater area is currently the most important domain for global oil and gas exploration and discovery,with the most discoveries and reserves in passive continental margin basins.The deepwater discoveries have the greatest contribution to the total newly discovered oil and gas reserves in the sea areas,with an increasing number of lithological reservoirs discovered,and oil and gas discoveries mainly distributed in the Mesozoic–Cenozoic.The seven major international oil companies are widely active in various aspects of deepwater oil and gas exploration and development,and play a leading role.Based on years of theoretical understanding of global oil and gas geology and resource evaluation,it is proposed that favorable deepwater exploration areas in the future will mainly focus on three major areas:the Atlantic coast,the Indian Ocean periphery,and the Arctic Ocean periphery.Six suggestions are put forward for expanding overseas deepwater oil and gas exploration business:first,expand the sources for obtaining multi-user seismic data and improve the scientific selection of deepwater exploration areas;second,increase efforts to obtain deepwater exploration projects in key areas;third,adopt various methods to access into/exit from resource licenses flexibly;fourth,acquire licenses with large equity and operate in“dual-exploration”model;fifth,strengthen cooperation with leading international oil companies in deepwater technology;and sixth,improve business operation capabilities and gradually transform from“non-operators”to“operators”.

Measures of Environmental Protection of Petroleum Exploration and Development in Tarim Basin

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Research progress and challenges of natural gas hydrate resource evaluation in the South China Sea

As an efficient clean energy,natural gas hydrate(NGH)has become a hot topic in recent researches.Since1990 s,China has made great achievements and progress in NGH exploration in the South China Sea(SCS),including determination of the favorable distribution areas and favorable strata thickness,identification of the dual source for accumulation,evaluation of the prospective gas contents,verification of the widespread existence,and confirmation of the technical recoverability of NGH resources.However,there are three major challenges in the NGH studies.First,all the 24 national key and major projects in the SCS focused on trial production engineering and geological engineering in the past 20 years,while 8 of the 10 international NGH research projects focused on resource potential.Second,resource evaluation methods are outdated and some parameter selection are subjective.Third,the existing resource evaluation results are low-level with a great uncertainty,and cannot be used to guide NGH exploration and production or strategic research.To improve the evaluation of NGH resources in the SCS,future researches should focus on four aspects:(1)improve the research on the criterion of the objective existence of NGH and the method of prediction and evaluation;(2)apply new theories and methods from the global NGH research;(3)boost the research on the difference and correlation of the conditions of hydrocarbon migration and accumulation in different basins;(4)innovate the theory and method of NGH resource potential evaluation.

Successful International Symposiumon Oil ＆ Gas Exploration in Lacustrine Basin

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Genesis of reservoir heterogeneity and its impacts on petroleum exploitation in beach-bar sandstone reservoirs:A case study from the Bohai Bay Basin,China

Reservoir characteristics of beach-bar sandstone reservoirs in the 2nd member of the Shahejie Formation in Banqiao Sag are studied by means of well logging interpretation,thin section observation and physical property analysis.Further,the influence of deposition,diagenesis and internal architecture interface on reservoir quality are quantitatively analyzed.On this basis,the geneses of reservoir heterogeneity of beach-bar sandstone reservoirs are summarized.The following results are obtained.(1)Primary pores,secondary pores and micro-fractures are the main types of reservoir space in the study area,and the primary intergranular pore is the main pore type;the microscopic heterogeneity of reservoirs is strong,and the physical properties of beach-bar reservoirs in different regions vary widely.(2)Tectonicdeposition,diagenesis and reservoir internal architecture work in unison to cause the heterogeneity of beach-bar reservoir quality in the 2^(nd) member of the Shahejie Formation in Banqiao Sag;the locations and scales of beach-bar sand bodies are obviously different in different fault blocks in the study area,determining the macroscopic distribution of beach-bar reservoirs;differential diagenesis intensifies the degree of reservoir heterogeneity;the fine-grained argillaceous deposits between different architecture units of beach-bar reservoirs are critical to the quality of reservoirs.(3)The differential distribution of beach-bar reservoir quality parameters in the study area affects the spatial heterogeneity of reservoirs,which not only controls the original oil/gas distribution,but also has a significant influence on the effect of waterflooding and leads to the local enrichment of remaining oil.

Prospects of borehole NMR instruments and applications Dedicated to Professor Chaohui Ye on the occasion of his 80th birthday

Borehole nuclear magnetic resonance(NMR)is a powerful technology to characterize the petrophysical properties of underground reservoirs in the petroleum industry.The rising complexity of oil and gas exploration and development objectives,as well as the novel application contexts of underground reservoirs,have led to increasingly demanding requirements on borehole NMR technology including instrument design and related processing methods.This mini review summarizes the advances and applications of borehole NMR instruments along with some future possibilities.It may be helpful for researchers and engineers in the petroleum industry to understand the development status and future trends of borehole NMR technology.

Reservoir accumulation conditions and key exploration&development technologies for Keshen gas field in Tarim Basin

The Keshen gas field is located in the central part of Kuqa foreland thrust belt in Tarim Basin,and is another large gas field discovered in Kuqa depression after Kela 2 gas field.Since the breakthrough in 2008,a number of large and medium scale gas reservoirs including Keshen 2,Keshen 5 and Keshen 8 have been discovered,that are characterized by ultra depth,ultra-high pressure,ultra-low porosity,ultra-low permeability,high temperature and high pressure.With natural gas geological reserves of nearly trillion cubic meters and production capacity of nearly 5.5 billion cubic meters,the Keshen gas field is the main natural gas producing area in Tarim Oilfield.The Keshen gas field is located in a series of thrusting imbrication structures in the Kelasu structural belt of Kuqa foreland thrust belt.The salt roof structure,plastic rheology of salt beds and pre-salt faulted anticlinal structure constitute the large wedge-shaped thrust body.The thick delta sandstone of the Cretaceous Bashijike Formation is widely distributed,and it forms the superior reservoir-caprock combination with overlying Paleogene thick gypsum-salt bed.The deep Jurassic-Triassic oil and gas migrate vertically along fault system formed in Late Himalaya,break through the thick Cretaceous mudstone and move laterally along the fracture system of the pre-salt reservoirs,to form anticline and fault anticline high pressure reservoir groups.Through near ten years of studies,the three-dimensional seismic acquisition and processing technology for complex mountainous areas,extrusion salt-related structural modeling technology and fractured low-porosity sandstone reservoir evaluation technology have been established,which lay a foundation for realization of oil and gas exploration objectives.Logging acquisition and evaluation technology for high temperature,high pressure,ultra-deep and low-porosity sandstone gas reservoirs,and efficient development technology for fractured tight sandstone gas reservoirs have been developed,which provide a technical support for efficient exploration&development and rapid production of the Keshen gas field.

Hydrocarbon accumulation conditions and key exploration and development technologies for PL 19-3 oilfield

The PL 19e3 Oilfield is the only super-large monolithic oilfield with oil and gas reserves up to 1×10^(9) t in the Bohai Bay Basin,and it has been successfully developed.Exploration and development practices have provided abundant data for analyzing formation conditions of this super-large oilfield.On the basis of the exploration and development history,fundamental reservoir features,and with available geological,geophysical and test data,the hydrocarbon accumulation conditions and key exploration&development technologies of the PL 19e3 Oilfield were discussed.The key conditions for forming the super-large Neogene oilfield include four aspects.Firstly,the oilfield is located at the high position of the uplift that contacts the brachy-axis of the multi-ridge slope in the biggest hydrocarbon-rich sag in the Bohai Bay Basin,thus it has sufficient hydrocarbon source and extremely superior hydrocarbon migration condition.Secondly,the large-scale torsional anticlines which formed in the Neogene under the control of the Tanlu strike-slipping movement provide sufficient storage spaces for oil and gas preservation.Thirdly,the“multiple sets of composite reservoir-caprock assemblages”developing in the special shallow-water delta further contributes greatly to the effective storage space for oil and gas preservation.Fourthly,due to the coupling of the uplift and strike slip in the neotectonic period,extensive faulting activities constantly released the pressure while the late period massive hydrocarbon expulsion of the Bozhong took place at the same time,which assures the constant and intense charging of oil and gas.The super-large PL 19e3 Oilfield was controlled by the coupling effects of all those special geologic factors.In view of this oilfield's features(e.g.violently reformation caused by strike slip,and the special sedimentary environment of shallow-water delta),some key practical technologies for exploration and development have been developed.Such technologies include:the special prestack depth migration processing for gas cloud zones,the prediction of thin interbed reservoirs based on high-precision inversion of geologic model,the reservoir description for the shallow-water braided river delta,the quantitative description for remaining oil in the commingled oil reservoirs with wide well spacing and long well interval,and the well pattern adjustment for formations during high water cut period in the complex fluvial-facies oilfields.

中国石油公司在巴西开展油气及新能源合作潜力探讨

中国与巴西政治关系稳步向前发展,经济资源禀赋深度互补。中国石油公司在巴西已经具备良好合作基础。巴西油气资源较为丰富,储量规模位居拉美前列,是拉美主要原油出口国;陆上光伏发电、风电有优势和潜力,氢能资源禀赋优越,光伏发电、风电资产交易活跃,国际合作为巴西新能源产业发展注入新动能。卢拉政府“加速增长计划”将大幅增产原油扩大出口,工业用途拉动巴西天然气需求增长,巴西大力发展风力发电、太阳能发电。建议中国石油公司在巴西稳步扩大优质油气资源权益,巩固中国与巴西的原油贸易规模和地位,充分利用合作伙伴的技术、运营及管理等优势,择机参股巴西已建成的陆上光伏、风电项目,与国际石油公司共同探索海上风电项目合作机会,联合研究氢能项目合作前景。

Accumulation of unconventional petroleum resources and their coexistence characteristics in Chang7 shale formations of Ordos Basin in central China

The Ordos Basin is the largest oil and gas producing basin in China, where tight oil, shale gas, oil shale, and other unconventional oil and gas resources have been found in the Chang7 subsection of the Triassic Yanchang Formation. However, the mechanism of formation and the distribution of unconventional oil and gas resources in the shale layers have not been systematically investigated until now. According to the type of unconventional oil and gas resources, main controlling factors, and the maturity, depth and abundance of organic matters, the shale oil and gas resources from Chang7 region are divided into five zones that include an outcrop-shallow oil shale zone, a middle-matured and medium-burial shale oil zone, a medium-matured and medium-burial in situ conversion process (ICP) shale oil zone, a high-maturity and deep-burial shale gas zone, and an adjacent-interbedded tight sandstone oil zone. By the distribution of resources, orderly evolution of oil and gas resources and coexistences in lacustrine shale formations have been put forward, and also a strategy of integrated exploration and development of resources in the shale formations is proposed. Overall, the outcome of this study may guide on the effective utilization of unconventional oil and gas resources in other shale formations.

新形势下与沙特阿拉伯开展一体化能源合作策略研究

沙特阿拉伯以其独有的资源禀赋、全新的发展愿景和独特的地区影响力,成为我国重要的战略合作伙伴。站在共建“一带一路”倡议提出10周年的节点上,研究如何与沙特阿拉伯“2030愿景”实现战略对接、更好把握新形势下的历史性合作机遇,对中国能源化工企业具有重要意义。沙特阿拉伯对外合作重点战略需求表现在3个方面,一是沙特阿拉伯锁定我国原油市场的诉求为拓展合作创造了有利条件;二是沙特阿拉伯化工与制造业的发展为我国企业拓展在沙的中下游业务提供了巨大潜力;三是沙特阿拉伯非常规天然气的开发或为我国参与其上游业务提供机会。我国应在统筹谋划、协同推进的基础上,以国内促国外,以中下游促上游,推动与沙特阿拉伯在能源化工上中下游以及投资工程贸易全产业链的一体化合作。

近20年世界油气新发现特征与勘探趋势展望

对历年来世界油气新发现情况进行统计分析,有助于加深对上游勘探进展的认识与未来发展趋势的研判。基于统计分析、油气勘探等方法理论,梳理了近20年来全球9010个油气新发现情况,重点分析了近5年来油气新发现的储量规模、油气类型、分布领域、盆地类型、作业公司等特点。统计表明,过去20年油气发现总可采储量为6722×10~8bbl,其中可采储量大于1×10~8bbl的油气新发现为997个,占总发现储量的85%。2014年油价下跌以来世界油气新发现个数与规模大幅下降,天然气发现比例呈增大趋势。非洲是近年来油气新发现储量最多的大区,接下来依次为拉美、中亚—俄罗斯、东南亚、北美、中东、欧洲。过去5年油气新发现储量主要分布在被动大陆边缘盆地、裂谷盆地与前陆盆地中,被动大陆边缘盆地中油气新发现储量占总发现储量的70%,主要国际油公司与国家石油公司是新发现的主体。分析表明,随着勘探难度增加,陆地油气新发现越来越少,深水、超深水油气发现增加,新领域、新类型、新深度、老区新层系持续探索,天然气越来越重要。海上油气勘探将是未来重要发展趋势,中国油公司在深水区块勘探与充当作业者方面尚有待加强,未来要继续加强上游勘探投入,与国际大油公司开展合作对优质深水资产进行战略储备,并进一步加强海上勘探目标评价与优选研究,重视海上油气相关技术储备与创新。

全球主要石油公司发展策略及启示

中国石油公司既肩负着保障国家能源供给的重要使命,也有保持优质发展的内在需求,国外石油公司的发展策略值得参考借鉴。通过对七大国际石油公司、12家国家石油公司和21家独立石油公司2018年以来的业务发展动向进行梳理,总结了3类石油公司勘探开发动态、资产组合优化、发展战略等方面的特点。国际石油公司经营业绩进一步改善;国家石油公司持续提升国际化水平,做强一体化业务链;独立石油公司发展方向分化明显,聚焦核心成为主流。分析表明国际石油公司坚定增长战略,积极推进大型项目最终投资决策。持续推进资产组合优化,深水资源潜力持续释放,天然气业务地位进一步提升。建议国内石油公司平衡国内外勘探,积极储备优质海外前沿资产夯实资源基础,重视优化资产组合,提升资产总体收益率;积极实施低碳发展战略,提速新能源产业发展,加快行业新技术应用,推进数字化转型。

跨国石油公司上游业务发展趋势分析

近年来,随着国际油价的上升和国际油气勘探市场形势的变化,国际著名的埃克森美孚、英荷壳牌、英国石油、雪佛龙德士古和道达尔菲纳埃尔夫这5个大型跨国石油公司都对上游业务发展战略进行了调整。调整措施主要体现了5个特点:进一步强化上游业务,突出上游业务的核心地位;上游业务向美国、欧洲以外地区转移;天然气和可再生能源等新兴业务快速发展;上游业务成本增长;采取兼并、重组、出让和联合等手段进行结构调整,实现跨越式发展。在中国中石油、中石化和中海油这三大石油公司成为具有国际竞争力的大型能源公司的进程中,五大跨国公司的上游业务发展策略尤其值得借鉴。

全球深水油气勘探开发业务发展及启示

全球深水油气资源丰富、探明率低、潜力巨大,拓展深水油气勘探开发业务是国际石油公司的核心战略和发展的必然选择。通过对国际石油公司深水油气勘探开发特点、运作模式的分析,认为深水油气项目尽管投资大、风险高、技术复杂、运作难度大,但只要秉持合作共赢理念,进入深水领域的门槛并非高不可攀。为此,对中国油公司“走出去”发展深水油气勘探开发业务提出启示与建议:立足主动跟随并争当深水作业者,积极进入深水领域;借鉴巴西国家石油公司的成功经验,着眼深水技术超前研发;建立合作伙伴清单机制,瞄准未来推动合作共赢;实施“人才兴海”战略,加强人才队伍建设。

全球石油公司勘探开发业务发展动向与策略

2017年以来,全球油气市场整体向好的趋势得到延续,国际油价出现大幅回升,多数石油公司重回增长战略态势,为了深入全面把握油公司的成功做法与经验,本研究选取了国际石油公司、国家石油公司及独立石油公司三大类共40家作为研究对象,开展分类对比和典型解剖,深入研究各类油公司在经营动态、方向策略、资产组合优化等方面的发展特点。研究表明,不同类型公司发展各具特点:国际石油公司上游业务强劲增长,引领行业快速复苏;国家石油公司发展路径特色显著,资本短缺导致成长分化;独立石油公司持续聚焦核心业务,专业化造就增长动力。油公司在发展上更加兼顾长远与短期目标、注重实际效益,上游并购活动趋向活跃,在油砂、致密油气、深水等领域表现突出,同时积极布局天然气与可再生能源业务,通过组织重构保障公司转型升级。