世行2010年8月石油和天然气生产.pdf

Justin Wickett 04/06/08 World Trade in Energy Oil Natural Gas Production Oil and natural gas both share a similar production cycle. Exploration of petroleum usually results in the discovery of natural gas reserves, and vice versa. As a result, petroleum and natural gas are extracted at the same time using similar techniques. The extraction process is broken up into several different phases based on the economic characteristics of the given reserve. Oil and natural gas production begins by securing mineral rights to land thought to contain natural resources. Energy companies negotiate a contract with the land owner to lease the mineral rights for a fixed duration until commercial production is deemed viable. Should commercial production become economically feasible, the lease is automatically extended until 1 the reservoir is abandoned. Once commercial production has begun, the contract usually calls for a royalty to be paid to the landowner based on the amount of natural resources extracted. Throughout the process, the energy company has the ability to either develop the reserve alone, 2 or take on a partner to hedge the risk of the reservoir being dry. Energy companies may also subcontract out the mineral resources to others if they feel their time could be spent more efficiently elsewhere. The primary recovery is the first stage of petroleum and natural gas recovery. A petroleum reservoir is made up of permeable rocks with porosities ranging from 5%-30% that 3 contain highly pressurized oil, natural gas, and water. During the primary phase, high-pressure natural gas drives the extraction process by forcing the crude oil to the well bore. Primary recovery nets both natural gas and crude oil without