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“Welcome to PetroSharp, where energy meets with the digital world”

A division of petrObjects.com

IN THE SPOTLIGHT PETROSHARP

At PetroSharp, we combine multidisciplinary approaches. Geology is used as a basic tool for carrying field studies utilizing remote sensing techniques for surface exposures and geophysical techniques for subsurface successions.
Petroleum geology and engineering combined with reservoir and chemical engineering techniques are used for field development. All branches are backed by the physical and mathematical laws. We accomplish our goals efficiently to discover, recover and develop oil targets. We use commercial state-of-the-art packages along with our in-house packages to accomplish our goals.
We prepare high-quality static models of petroleum reservoirs that include highly-complicated fault & fracture systems. Evaluate the model and run dynamic modeling of both conventional & naturally-fractured petroleum reservoirs.

Unit Conversion Software
2014

PetroSharp BigDecimal Unit Converter

The converter has been designed by staff of PetroSharp (www.petrosharp.com). It includes two dynamic link libraries (DLL); which are properties of PetroSharp. The BigDecimal Library™; ...

Unknown Composition
Oil Module

Unknown Composition Oil Module

The Unknown Composition Oil object calculates the physical properties of a petroleum reservoir oil sample solely from its specific gravity and bubble-point pressure. The object does not make ...

Unknown Composition
Gas Module

Unknown Composition Gas Module

The Unknown Composition Gas object calculates the physical properties of a petroleum gas mixture solely from its specific gravity. The object does not make any check for temperature and pressure ranges ...

Latest News - Oil & Gas

  • Kazakhstan revives Atyrau integrated petchem complex

    Kazakhstan Petrochemical Industries Inc. LLP (KPII) has approved CB&I, Houston, to proceed with project management services for a propane dehydrogenation (PDH) unit and polypropylene plant to be added as part of KPII’s previously delayed, long-planned project to build a gas processing complex in Kazakhstan’s western Atyrau region.

  • Ultra Petroleum tests Pinedale horizontal play in Wyoming

    Ultra Petroleum Corp. has produced 1.1 bcf of natural gas equivalent in 30 days from its Warbonnet 9-23-A-1H well, which the operator successfully completed in late October on the East Flank of Wyoming’s Pinedale anticline.

  • ExxonMobil makes oil discovery offshore Equatorial Guinea

    ExxonMobil Corp. is now assessing potential commerciality at its Avestruz-1 well on Block EG-06 160 km offshore Malabo, Equatorial Guinea. The operator drilled the oil discovery in October but has not released any production data.

  • AWE receives rival bid to second Chinese takeover offer

    AWE Ltd., Sydney, has received a rival bid to the second China Energy Reserve & Chemicals Group (CERCG) offer that was lodged on Dec. 8. The new entrant in what is becoming a bidding war for AWE is Perth-based mining and mining services group Mineral Resources Ltd. (MinRes), the company which earlier this year acquired fellow Perth firm Empire Oil & Gas NL. 

  • Novatek to acquire Chernichnoye gas field

    PAO Novatek, Moscow, has agreed to acquire rights to Chernichnoye gas and condensate field under development in Russia’s Tyumen Region from Oil Company Mangazeya JSC, Krasnoselkup, Russia, for undisclosed terms.

     

Exploration and Development

  • Ultra Petroleum tests Pinedale horizontal play in Wyoming

    Ultra Petroleum Corp. has produced 1.1 bcf of natural gas equivalent in 30 days from its Warbonnet 9-23-A-1H well, which the operator successfully completed in late October on the East Flank of Wyoming’s Pinedale anticline.

  • ExxonMobil makes oil discovery offshore Equatorial Guinea

    ExxonMobil Corp. is now assessing potential commerciality at its Avestruz-1 well on Block EG-06 160 km offshore Malabo, Equatorial Guinea. The operator drilled the oil discovery in October but has not released any production data.

  • State, federal lease sales in Alaska produce contrasting results

    The State of Alaska received a record $121 million in winning bids as 143 companies and investors sought leases in its annual North Slope lease sale on Dec. 6. The US Bureau of Land Management offered 900 tracts covering a record 16,100 sq miles within the National Petroleum Reserve-Alaska the same day and received 7 bids totaling $1.16 million for 125 sq miles of acreage.

  • Airborne gravity survey launched for southern Gulf of Mexico

    CGG will complete as many as five additional areas in the southern Gulf of Mexico through 2018. The program will total 200,000 line-km of multiclient airborne gravity and magnetic survey. The company completed its first area, AOI 1, in December 2016 and has processed and interpreted about 38,000 line-km over the gulf’s Perdido foldbelt.

  • Erin Energy targets Miocene offshore Nigeria, Oyo field

    Erin Energy Corp., Houston, expects a 60-day drilling and logging window at its Oyo North West (Oyo-NW) well, which the company spudded on Dec. 6 on its oil mining lease (OML) 120 block offshore Nigeria.

Drilling and Production

Drilling and Production News

  • DNO triples oil production from Peshkabir field in Iraq’s Kurdistan region

    Norway’s DNO ASA reported tripling its oil production to 15,000 b/d from Peshkabir field in the Tawke license in Iraq’s Kurdistan region after completion of the Peshkabir-3 well testing, stimulation, and cleanup program.

  • Baker Hughes: US rig count ticks up 2 units to 931

    The US drilling rig count climbed for the fifth straight week with a 2-unit gain to 931 rigs working during the week ended Dec. 8, data from Baker Hughes indicate.

  • License extended for block off Congo (Zaire)

    Muanda International Oil Co., a subsidiary of Perenco, has reached an agreement with the government of Congo (former Zaire) extending by 20 years the license covering the Offshore DR Congo Block, reports partner Inpex Corp., Tokyo.

  • CNPC, Uzbekneftegaz start Karakul phase

    A joint venture of China National Petroleum Corp. and Uzbekneftegaz has commissioned the first phase of its three-field Karakul natural gas development near Bukhara in south-central Uzbekistan. 

  • DUC okays Tyra redevelopment off Denmark

    Continuation of production from Tyra natural gas field in the Danish North Sea has been assured with approval by the Danish Underground Consortium of a $3.34-billion redevelopment plan. Maersk Oil, the operator, had planned to shut in the field in October 2018 until the consortium proposed redevelopment in March.

Lundin Petroleum AB (LUPE), the Swedish explorer focused on Norway, said there won’t be any new oil output in the ice-filled waters of the Arctic for at least 15 years because of technical and logistical challenges.

“I don’t think we’ll see any oil production in the Arctic any time soon -- probably not this decade and not the next,” Chairman Ian Lundin said in a Feb. 20 interview in Stockholm. “The commercial challenges are too big.”

The Arctic holds 30 percent of the world’s undiscovered natural gas reserves and 13 percent of its undiscovered oil, according to U.S. Geological Survey estimates. Still, exploration of the Arctic ocean floor, where 84 percent of these resources are thought to be trapped, has suffered setbacks in recent years.

Royal Dutch Shell Plc. (RDSA), Europe’s biggest oil company, in January again halted drilling plans off Alaska after a court ruled the area had been illegally opened to exploration. That followed a previous postponement after a series of technical mishaps in 2012, including the stranding of a rig.

Off the coast of Greenland, drilling has yet to resume after Cairn Energy Plc (CNE) spent $1 billion on exploration without making commercial finds in iceberg-ridden waters, while Russia’s Shtokman gas project, 600 kilometers (370 miles) from shore in the Barents Sea, has been stalled for years.

Lower Priority

As companies including Shell and Norway’s state-controlled Statoil ASA (STL) cut planned investments amid rising costs across the industry, expensive Arctic projects could get a lower priority.

“It may take a while to develop the right technology,” Lundin’s chairman said. “Investments are very, very high so it still has to be commercially justified.”

Another factor undermining the appeal of expensive exploration projects is the outlook for crude prices. Brent oil for delivery in 2016 is trading at about $97.45 a barrel, down 11 percent from the current spot price of $110.07 for the global benchmark, according to data compiled by Bloomberg from the Ice Futures Europe Exchange.

An exception to Arctic challenges is the southern part of Norway’s Barents Sea, Lundin said. While inside the Arctic circle, it benefits from a less-harsh climate and shallower and ice-free waters, and may hold 8 billion barrels of oil equivalent in undiscovered resources, more than 40 percent of the country’s total.

Dwindling Reserves

To compensate for dwindling reserves in aging North Sea fields, Norway is pushing into the Barents, which holds 54 of the 61 blocks the government has proposed issuing in its next licensing round. More than half will be in a newly opened area previously disputed with Russia.

“In the Barents Sea we’ll probably see production much sooner because there’s no technological gap,” he said. “It’s now just a matter of having the reserve base that you’re required to have to justify the investment.”

Lundin fell as much as 0.8 percent and traded 0.2 percent lower at 127.3 kronor as of 10:40 a.m. in Stockholm. That curbs the stock’s gain to 1.5 percent so far this year and gives Lundin a market value of 40.5 billion kronor ($6.2 billion.)

Some oil production has already started in Arctic waters. BP Plc (BP/)’s Prudhoe Bay field in Alaska has been producing since the 1970s, while OAO Gazprom in December became the first Russian company to extract oil from the Arctic seabed at the Prirazlomnoye field in the Pechora Sea.

Contrasting Outlooks

Eni SpA (ENI) will become the first company to produce oil in Norway’s Barents Sea when its Goliat field starts in the third quarter this year, even though the Norwegian Petroleum Directorate has said it expects delays. Statoil’s Snohvit gas field, which began output in 2007, is the only producing field in the Norwegian Barents Sea to date.

Lundin discovered as much as 145 million barrels of oil at the Gohta prospect in the Barents Sea last year. That has helped revive optimism among explorers after Statoil postponed an investment decision on its nearby Johan Castberg project because of higher costs, taxes and uncertainty about resource estimates of as much as 600 million barrels of oil.

Gohta was Norway’s first oil discovery in Permian layers with sufficient flow, and opened up a new exploration model for the area with as many as 10 new drilling targets, the Swedish explorer has said. Lundin is planning an appraisal well at Gohta in the second quarter and will drill the nearby Alta prospect in the third.

Lundin’s optimism contrasts with Statoil, which has found oil at just one of four exploration wells designed to boost crude resources for its Castberg project and make it more profitable. Still, current resources are sufficient to be developed and Gohta could even be coupled with Castberg, Lundin has said.

“There are other discoveries in the same area” as Gohta, the chairman said. “After we go through the appraisal phase we’ll hopefully be in a position where we can just press the button for development.”

Red Sea Studies

 

The Red Sea is a seawater inlet of the Indian Ocean, lying between Africa and Asia. The connection to the ocean is in the south through the Bab el Mandeb strait and the Gulf of Aden. In the north, there is the Sinai Peninsula, the Gulf of Aqaba, ...

Petroleum Reserves

Petroleum is the world's major source of energy and is a key factor in the continued development of the world's economies. Therefore, it is essential for the countries future planning to have a clear assessment of their petroleum reserves ...

Field Development Plans

Field Development Planning has been prevalent in the Petroleum Industry since the first development projects. Uncertainty in crude prices, advancements in technology and the decreased quality of newly discovered reservoirs; means that field development plans now involve much greater detail ...

PetroSharp in Deep

  • Bio Stratigraphy

    The goal of biostratigraphy is to use fossil occurrences within the rock record to establish correlations between time-equivalent rock strata as determined by the presence of a particular fossil species ...
     

    Fault Seal Analysis

    Dry Holes (Leaking faults can bleed a trap dry). Dry Holes (Faults can create empty reservoirs & empty compartments within the producing field). Dry Holes (Sealing faults can keep a trap from being charged) ...

    Petroleum Systems

    Petroleum System consists of a mature source rock, migration pathway, reservoir rock, trap and seal. Appropriate relative timing of formation of these elements and the processes of generation, ...

    Core Analysis

    Core-based measurements offer the most tangible and direct means of determining critical reservoir parameters. Core analysis can play a vital role in field equity or unitization and is often considered to be the ground truth ...
  • Reservoir Characterisation

    A model of a reservoir that incorporates all the characteristics of the reservoir that are pertinent to its ability to store hydrocarbons and also to produce them. Reservoir characterization models ...

    Reservoir Engineering

    Applies scientific principles to the drainage problems arising during the development and production of oil and gas reservoirs so as to obtain a high economic recovery ...

    Average Evaluation

    Exploration, production and average evaluation includes review and validating existing data (Geophysical, geological, geochemical, engineering and production data) ...

    Sequence Stratigraphy

    The study of stratigraphic sequences, defined as stratigraphic units bounded by unconformities. With improvements in the acquisition and processing of reflection-seismic data by petroleum exploration companies ...
  • Field Development Plans

    Field Development Planning has been prevalent in the Petroleum Industry since the first development projects. Uncertainty in crude prices ...

    Volumetric & Ranking

    Volumertics, Risking and ranking includes Play and prospect analysis, Complex trap Volumertics, Detailed geological risking, Geostatistics and Heterogeneity Modeling, 3-D Geocelular Static Model ...

    Res Sea: Source Rock

    In petroleum geology, source rock refers to rocks from which hydrocarbons have been generated or are capable of being generated. They form one of the necessary elements of a working petroleum system ...

    Dynamic Modeling

    The most widespread source for subsurface data is 2-D and, increasingly, 3-D seismic. Data related to boreholes - such as well logs and rock samples - provide crucial complementary and calibration parameters ...

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