The upstream petroleum industry today faces unprecedented waves of added costs and new regulatory challenges as it tries to navigate the risk management toward preserving its bottom line. Risk factors-e.g., commodity price volatility, geopolitics, etc.-facing the industry have become more complex. Offshore oil and gas development increasingly tilts toward the mega-project scale because of the burgeoning exploratory success the industry is enjoying in ultra-deep waters, where development project costs routinely run into the billions and schedules can span half a decade or more. Such projects entail enormous challenges in logistics, planning, scheduling, communications, data management, and risk analysis. As the upstream oil and gas industry grapples with change in every sector and at every level, including an expanding regulatory oversight infrastructure, cost savings and operating efficiencies (QHSE) have become more important than ever.
Question @ 7 mins: Drilling: taking resources out of the ground and begin to make some money. HOW? How do you make money at this stage? (UPSTREAM: DRILLING) Are you selling immediately you recover the resource ? to whom?
I believe she means u now have an asset. During the exploration stage alot of the costs were sunk. Upon Discovery those costs can be capitalized (can go towards the cost of the asset) which is ur extracted resource. Often times they are sub contracted so upon extraction they are sold to the refiners
Hello I'm studying supply chain management in petrol et gaz in Russia. I'm doing masters. I wana get your mail. For asking you questions about it. Thanks. Спасибо большое.
The upstream petroleum industry today faces unprecedented waves of added costs and new regulatory challenges as it tries to navigate the risk management toward preserving its bottom line. Risk factors-e.g., commodity price volatility, geopolitics, etc.-facing the industry have become more complex. Offshore oil and gas development increasingly tilts toward the mega-project scale because of the burgeoning exploratory success the industry is enjoying in ultra-deep waters, where development project costs routinely run into the billions and schedules can span half a decade or more. Such projects entail enormous challenges in logistics, planning, scheduling, communications, data management, and risk analysis. As the upstream oil and gas industry grapples with change in every sector and at every level, including an expanding regulatory oversight infrastructure, cost savings and operating efficiencies (QHSE) have become more important than ever.
Question @ 7 mins: Drilling: taking resources out of the ground and begin to make some money. HOW? How do you make money at this stage? (UPSTREAM: DRILLING) Are you selling immediately you recover the resource ? to whom?
I believe she means u now have an asset. During the exploration stage alot of the costs were sunk. Upon Discovery those costs can be capitalized (can go towards the cost of the asset) which is ur extracted resource. Often times they are sub contracted so upon extraction they are sold to the refiners
Hello I'm studying supply chain management in petrol et gaz in Russia. I'm doing masters. I wana get your mail. For asking you questions about it. Thanks. Спасибо большое.