What are the major criteria that need to be looked at when selecting the type of rig to be used for field exploration and development?

The type of rig which will be selected depends upon a number of parameters, in particular: 9 cost and availability 9 water depth of location (offshore) 9 mobility / transportability (onshore) 9 depth of target zone and expected formation pressures 9 prevailing weather conditions in the area of operation 9 quality of …

What are some problems in the oil industry?

Some major controversies of this industry include:

• Cyberattacks on infrastructure.
• Drilling and pipelines on Indigenous nations’ lands.
• Drilling and pipelines near national parks.
• Environmental impact, such as water, natural habitats, and air quality.
• Financial power of integrated oil companies.
• Impact on climate change.

What are the problems confronting NNPC?

From the study, we realized that NNPC which is federal government oil corporation through which the federal government regulate and monitor the oil and gas industry has achieved some reasonable feet in the sector, but at the same time, marred with some challenges such as assets integrity issues, crude oil and product …

What problems exist because of the need for oil explain?

The oil industry can cause or exacerbate conflict in multiple ways: competition over shipping lanes and pipelines, oil-related terrorism, petro-aggression, and resource scarcity in consumer states are all potential sources of international conflict.

What are the major operations coming under the upstream process in the oil and gas industry?

The upstream segment of the oil and gas industry contains exploration activities, which include creating geological surveys and obtaining land rights, and production activities, which include onshore and offshore drilling. Crude oil is categorized using two qualities: Density and sulfur content.

What makes a good oil well?

An oil well is a boring in the Earth that is designed to bring petroleum oil hydrocarbons to the surface. Usually some natural gas is released as associated petroleum gas along with the oil. A well that is designed to produce only gas may be termed a gas well.

What is the future potential for oil?

Global refinery oil demand will reach a high by 2022 at only 2\% above 2017 levels, followed by a 39\% decline by 2050, due largely to significantly reduced transport sector oil demand. We expect greater focus in mature markets on producing cleaner, higher-grade transport fuels.

What are the three sectors of oil and gas industry?

The industry is often divided into three segments:

• upstream, the business of oil and gas exploration and production;
• midstream, transportation and storage; and.
• downstream, which includes refining and marketing.

How does offshore drilling affect the environment?

Offshore Drilling Is Bad for the Environment. This poses an unjustifiable risk to the Bay, our coasts, and the economy. Toxic Pollution: Normal offshore drilling operations release toxic pollution into the air and water. A Risk to Animals: Wherever there are oil spills and excess pollutants, wildlife is risk.