Petroleum Exploration and Production consists of four major processes of exploration‚ well-development‚ production and site abandonment. In this assignment‚ we had chosen the major process of exploration and production. Petroleum Exploration is conducted to find and detect the site which contains oil or natural gas. Visible surface features such as oil seeps‚ natural gas seeps‚ pockmarks provide basic evidence of hydrocarbon generation. However‚ most exploration depends on highly sophisticated
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Introduction to Petroleum Technology By: NUR KHASILAH BT ABDORAHMAN 2012228568 930223-13-5588 CHAPTER 1 REVIEW – How The Earth Was Formed So‚ let we start with the origin of universe. it has been stated in The Big Bang theory. Over 13.5 billions years ago‚ a gigantic explosion produce energy and fundamental particle that created the universe. This mean that all the things that we see today such as rock‚ animal‚ plant‚ water was created during that time. First‚ quark is formed which is proton
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PCRA aims at making oil conservation a national movement. As part of its mandate‚ PCRA is entrusted with the task of creating awareness amongst the masses about the importance‚ methods and benefits of conserving petroleum products & emission reduction. To take the message to the people‚ PCRA uses all possible and effective media for mass communication. These include electronic and press media e.g. TV‚ Radio‚ Electronic displays; Press at the National and State level printed literature for specific
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penguins. Not many foresaw the radiating shine of the Moon jellies swimming in their glimmering tank. Their unique resplendent glowing bodies propelled smoothly through the water. At sudden first glance these aquatic invertebrates seem like something from outer space. Though in reality they are a very common species of jellies that live in the temperate and tropical shallow waters of the ocean or at home in an acrylic tank. Like all animals Moon Jellies have their own special features such as their body
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Petroleum products are used widely in our everyday lives. They are used to power automobiles produce containers and to keep us warm. Petroleum‚ or crude oil is liquid composed of various organic chemicals. It is found in large quantities below the surface of Earth and is used as a fuel and as a raw material in the chemical industry. The word petroleum comes from the two Latin words "petro" and "leum" "petro" meaning rock and "leum" meaning oil. The chemical composition of all petroleum is principally
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Graduation Project 10 December 2012 Petroleum Engineering: The Impact on Today’s Society The United States’ dependency for foreign oil is at its all-time high with the demand for oil continuing to grow. Americans depend on oil for transportation‚ heating‚ and power. Within the last five to ten years‚ the growing desire for more efficient ways of fueling has skyrocketed. Petroleum engineering has sparked a revolution throughout the nation. It has made a strong influence on the whole nation but
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TITLE: MW Petroleum Corporation: A Valuation Approach on Real Assets ABSTRACTOR SUMMARY Valuation is the estimation of an asset’s value‚ whether real or financial‚ based on variables perceived to be related to future investment returns‚ on comparison with similar assets‚ or‚ when relevant‚ on estimates of immediate liquidation proceeds (Pinto‚ Henry‚ Robinson‚ Stowe; 2010). Correct valuation of real assets can present challenges to financial analysts. Different models can be used to arrive at
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Cash Flow Valuation – Proved Developed Reserves Discounted Cash Flow Valuation – Proved Undeveloped Reserves Discounted Cash Flow Valuation – Probable Reserves Discounted Cash Flow Valuation – Possible Reserves Question 3 To value MW Petroleum we would consider the assets in place and the option bearing assets discretely. The assets in place consist of the proved developed reserves since they are already producing a determinable quantity of oil and natural gas‚ as well as the non-producing
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PETROLEUM (PRO’S and CON’S) Petroleum has brought great benefits to human civilization; quality of life and dynamic prosperity is caused by this precious resource. It is the lifeline of modern civilization. It is the source of energy for agricultural‚ industrial and transport sectors and sustains essential industries moving. Petroleum currently provides 90 per cent of energy used for transportation‚ and while its benefits are astounding‚ the use of petroleum-based technologies also has cost
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close look at my Resume will indicate that I majored in the exploitation of oil and gas fields in my undergraduate program and specialized in petroleum engineering‚ a similar specialty‚ in my Master’s program. It may well be asked why I maintain such a close affinity with petroleum. The answer is simple and straightforward—because I was born and I grew up on an oil field and I have cherished a deep love for all that it represent. Even as a child‚ I had a habit of watching for hours how beam-pumping
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