Performance analysis of “Petroleum Well”
SURESH R VAGHASIYA
Production Engineering Department Government Engineering College, Bhavnagar , IN
Keywords: Oil Exploration, Oil well, Technical Limit, Authority for Expenditure, Pre-Spud
Abstract
Oil exploration is a capital intensive activity. Uncertain outcome, high stakes and volatile crude oil price makes it a high risk business. In such circumstances, companies relying on two key factors: operational efficiency and cost optimization. Moreover, problem of disproportionate attribution of input cost to the revenues often exists. For these issues, understanding the oil well-costs is very important. This paper describes various phases of oil well drilling activity and cost associated with it. Drilling time is very vital due to limited availability and high rental cost. The study draws the conceptual background for the oil well performance analysis. The various factors influencing cost of petroleum well like time dependent and time-independent cost, well planning cycle, and authorities for expenditure are studied in this paper. The study focuses on complexity involved in cost estimation of oil well drilling operation.
How to Cite
References
NA