Time filter

Source Type

Reading, United Kingdom

BG Group plc is a British multinational oil and gas company headquartered in Reading, United Kingdom. It has operations in 25 countries across Africa, Asia, Australasia, Europe, North America and South America and produces around 680,000 barrels of oil equivalent per day. It has a major Liquefied Natural Gas business and is the largest supplier of LNG to the United States. As at 31 December 2009 it had total proven commercial reserves of 2.6 billion barrels of oil equivalent.BG Group is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index. As of 6 July 2012 it had a market capitalisation of £44.9 billion, the seventh-largest company listed on the London Stock Exchange. Wikipedia.

The relatively simplistic facies models for lacustrine carbonates do not currently incorporate either the diversity of microbialite carbonate development or the influence of volcanicrelated processes found in rift settings. The basic nature of the carbonate factories in these systems, whether microbial, macrophytic, skeletal or abiogenic, is not resolved. Lacustrine microbialites can develop in shallow lakes as concentrations of microbialite mounds covering many hundreds of square kilometres, or as bathymetrically controlled facies belts, but in many rift settings vent-related thermal and non-thermal carbonates (travertines and tufas) are a major component. Subaqueous vent-related carbonates, with evidence of microbial activity, can produce seismicscale carbonate build-ups in deeper lakes or apparently more stratiform accumulations in shallow lakes. In lakes with only volcanic catchments, Mg and silica activity, coupled with high carbonate alkalinity and microbial influences, can potentially generate a complex set of mineral-microbe interactions and products, creating a unique set of challenges for predicting and understanding reservoirs in such settings. © The Geological Society of London 2012.

Edgar J.A.,BG Group | Van Der Baan M.,University of Alberta
Geophysics | Year: 2011

Well logs often are used for the estimation of seismic wavelets. The phase is obtained by forcing a well-derived synthetic seismogram to match the seismic, thus assuming the well log provides ground truth. However, well logs are not always available and can predict different phase corrections at nearby locations. Thus, a wavelet-estimation method that reliably can predict phase from the seismic alone is required. Three statistical wavelet-estimation techniques were tested against the deterministic method of seismic-to-well ties. How the choice of method influences the estimated wavelet phase was explored, with the aim of finding a statistical method which consistently predicts a phase in agreement with well logs. It was shown that the statistical method of kurtosis maximization by constant phase rotation consistently is able to extract a phase in agreement with seismic-to-well ties. A statistical method based on a modified mutual-information-rate criterion was demonstrated to provide frequency-dependent phase wavelets where the deterministic method could not. Time-varying statistical wavelets also were estimated with good results - a challenge for deterministic approaches because of the short logging sequence. It was concluded that statistical techniques can be used as quality control tools for the deterministic methods, as a way of extrapolating phase away from wells, or to act as standalone tools in the absence of wells. © 2011 Society of Exploration Geophysicists.

Agency: GTR | Branch: EPSRC | Program: | Phase: Research Grant | Award Amount: 2.46M | Year: 2012

The Gas-FACTS programme will provide important underpinning research for UK CCS development and deployment on natural gas power plants, particularly for gas turbine modifications and advanced post combustion capture technologies that are the principal candidates for deployment in a possible tens-of-£billions expansion of the CCS sector between 2020 and 2030, and then operation until 2050 or beyond, in order to meet UK CO2 (carbon dioxide) emission targets. Gas CCS R&D is an emerging field and many of the concepts and underlying scientific principles are still being invented. But on-going UK infrastructure investments and energy policy decisions are being made which would benefit from better information on relevant gas CCS technologies, making independent, fundamental studies by academic researchers a high priority. In addition, the results of this project will provide an essential basis for further work to extract the maximum research benefits from the UK CCS demonstration programme and help to develop more advanced gas CCS technologies for a second tranche of CCS deployment. The programme will also develop rigorous assessment methods and a framework to maximise pathways to impact that could support other RCUK research activities on gas CCS. Globally, there is already interest in gas CCS in Norway, California and the Middle East, and this is likely to become more widespread if cheaper gas leads to more widespread use. This work will be undertaken through work packages with the following aims: WP1: To quantify the scope of gas turbine modifications to improve the technical, environmental and economic performance of integrated CO2 capture on CCGT plants. Small gas turbines will be modified to run with steam or recycled flue gas replacing some of the normal air feed to increase back-end CO2 concentrations (which will help make the CO2 easier to capture). WP2: To quantify through modelling and experimental testing the scope for improving post-combustion capure system performance on CCGT plants through a combination of advanced liquid solvents, including novel amine mixtures, and improved transient performance. Solvents that are used to take up CO2 and then release it in a pure form that can be stored underground will be modified so that the amount of energy required to do this is reduced. The equipment the solvents are used in will also be designed to turn on and off quickly to allow CCS power plants to compensate for fluctuations in output from wind turbines. WP3: In close collaboration with an external Experts Group to undertake integration and whole systems performance assessments. This will include a Gas-FACTS Impact Handbook combining impact tables with state-of-the-art surveys to ensure that pathways to impact pursued by Gas-FACTS researchers are co-ordinated with other significant activities, including excellent science and stakeholder plans, to maximise their effectiveness. Gas-FACTS results will be implemented in the freely-available IECM package for access by any potential users. WP4: Impact delivery and expert interaction activities will be based on establishing an Experts Group including representatives of the UK CCS academic community, global academic community, UK policymakers, UK Regulators, NGOs, power utilities, Original Equipment Manufacturers (OEMs), SMEs (Small and Medium Enterprises). WP4 will also run a programme of engagement activities to impact, including project meetings, specialist meetings on topical issues and results, web-based dissemination and document publication (reports, responses to Parliamentary inquiries, journal papers, articles etc.)

News Article
Site: news.yahoo.com

A bedrock belief among oil forecasters has been that China’s voracious appetite for fossil fuels would stoke global energy demand for decades to come. That assumption now appears increasingly shaky. A highly anticipated new energy-demand projection from Exxon Mobil Corp. released Monday cuts the company’s expectations for China. And a slew of data is emerging that points to the toll a weakened economy has taken on Chinese energy demand, which is among the most important factors in determining the price of crude oil. Exxon cut its forecast for annual energy-demand growth in China by almost a 10th to 2.2% a year through 2025. Over a decade, the revision amounts to more than Brazil’s current annual oil consumption. Exxon also predicts that China’s thirst for energy will peak by 2030. The company played down the change to its figures based on its previously held view that China’s working population is reaching its apex, said Bill Colton, vice president of corporate strategic planning. “Countries sometimes have to go through transitions,” he said. “One thing about economics, it’s never a straight line.” Oil prices fell 7.4% to $29.80 a barrel after Chinese data released Monday showed that diesel fuel use fell in 2015 from a year earlier. A study issued last week by consultancy ESAI Energy said China’s oil-demand growth rate between now and 2030 would be less than half that of the previous 15-year period. “If demand won’t come from China, who will step in to fill China’s shoes?” said Erica Downs, a senior analyst for the Eurasia Group who focuses on the country’s energy sector. Some energy companies have already taken concrete steps to pivot from oil because China’s economic transformation and global efforts to reduce carbon emissions make its future less certain. Royal Dutch Shell PLC, Chevron Corp. and others have pursued multibillion-dollar projects that hinge on natural gas, which emits less carbon than oil and is cheaper or more lucrative to use in power generation. Some analysts believe gas will eventually overtake oil as the world’s most dominant source of fuel. Shell is in the finishing stages of acquiring global gas powerhouse BG Group PLC for $50 billion, while Chevron and partners are spending more than $80 billion to build two massive plants in Australia that will liquefy natural gas so it can be shipped overseas to Asia and beyond. But those steps may prove problematic if energy demand doesn’t pick up in emerging economies. Chinese energy consumption rose just 0.9% last year, according to government estimates, as gross domestic product increased 6.9%, the weakest annual rate in a quarter century. The unexpected short-term drop casts a shadow over the prospect of an oil-price rally this year. U.S. and global benchmark crude prices fell below $27 a barrel last week for the first time since 2003. The current oil glut was initially spurred by technology breakthroughs that unlocked more fuel reserves from the ground. But the oversupply is being prolonged and deepened by weaker-than-expected demand. That confluence of factors has made this oil downturn particularly difficult to resolve. If tepid Chinese energy consumption continues, it could raise profound questions about the stability of oil and gas producers around the world, analysts say. Expectations of robust energy demand have always been about more than just China. India, Asian tiger countries and other emerging economies with vast populations eager to move into the middle class were supposed to follow China’s lead economically and on the energy-demand front. Once-prominent fears that the world would soon run out of oil have been upended by plentiful supplies unleashed in recent years. Now emerging concerns about peak demand are starting to percolate. From 2000 to 2010, China’s rapid industrialization created soaring demand for oil to power an economy tied to manufacturing and exports. Over that decade, China accounted for more than 40% of the growth in global demand for crude oil. The seemingly insatiable need caught the market by surprise, helping push oil prices to a record $147 a barrel in 2008. But since 2010, China’s energy demand growth has slowed faster than its GDP. In 2012, for instance, China’s GDP rose at nearly double the rate of energy-consumption growth. Last year, China’s GDP grew six times faster than energy-demand growth, according to figures from China and the World Bank. Some analysts believe the numbers reflect uncertainty around the accuracy of data coming out of China. Yet even accounting for the possibility that GDP data is inflated, the decoupling of economic and energy growth suggests that China’s transformation simply may not require as much fossil fuels as many have predicted. Just as energy companies underestimated Chinese demand in the first decade of this century, they may be overestimating it now, said Anthony Barone, senior vice president for deals and restructuring at Argo, a Chicago-based consulting firm. “Their growth has slowed, and the belief that they are going to be the top country providing stable long-term demand for energy is looking optimistic,” he said. BP PLC’s 2015 energy outlook forecast 3.9% energy demand growth for China through 2020, more than four times higher than last year’s actual increase in the country’s consumption. The International Energy Agency’s 2015 energy-growth forecast was nearly double the actual demand figure. Predictions of a tremendous wave of energy growth from China, India and other fast-expanding countries are based on a very real trend. As those economies mature, hundreds of millions of people will enter the middle class and use more energy, driving cars or using air conditioning. That is why Exxon still believes that from 2014 to 2040, global energy demand will grow by 25%, according to the company’s Energy Outlook, released Monday. No doubt middle-class Chinese are using more gasoline and electricity to power their homes and cars, but so far it isn’t enough to make up for stagnating industrial activity. All forecasts that seek to predict the supply and demand of oil or other commodities decades into the future make use of history and emerging trends, as well as informed “guesswork,” said Citigroup commodities analyst Eric Lee. “China isn’t going to keep sucking up oil voraciously,” he said. “No matter what, China will have its own unique development.” Write to Bradley Olson at Bradley.Olson@wsj.com and Brian Spegele at brian.spegele@wsj.com

DAR ES SALAAM (Reuters) - Tanzanian president John Magufuli ordered officials on Monday to speed up long-delayed work on a planned liquefied natural gas (LNG) plant, saying implementation of the project had taken too long. BG Group, recently acquired by Royal Dutch Shell, alongside Statoil, Exxon Mobil and Ophir Energy, plan to build a $30 billion-onshore LNG export terminal in partnership with the state-run Tanzania Petroleum Development Corporation (TPDC) by the early 2020s. But a final investment decision has been held up by government delays in finalising issues relating to acquisition of land at the site and establishing a legal framework for the nascent hydrocarbon industry. "I want to see this plant being built, we are taking too long. Sort out all the remaining issues so investors can start construction work immediately," the presidency quoted Magufuli as saying in a statement. Magufuli, a reformist who took office in November, has sacked several senior officials for graft and cut spending he deemed wasteful, such as curbing foreign travel by public officials. The president's office said Magufuli issued the instructions for the LNG project to be fast-tracked during talks with Oystein Michelsen, Statoil's Tanzania country manager, and senior Tanzanian government energy officials. The Tanzanian presidency did not give the construction schedule for the project, but said once completed the LNG plant would have an expected economic lifespan of more than 40 years. The government said it has acquired over 2,000 hectares of land for the construction of the planned two-train LNG terminal at Likong'o village in the southern Tanzanian town of Lindi. Tanzania discovered an additional 2.17 trillion cubic feet of possible natural gas deposits in February, raising the east African nation's total estimated recoverable natural gas reserves to more than 57 trillion cubic feet. East Africa is a new hotspot in hydrocarbon exploration after substantial deposits of crude oil were found in Uganda and major gas reserves discovered in Tanzania and Mozambique.

Discover hidden collaborations