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Journal : Journal of Geoscience, Engineering, Environment, and Technology

Economic Feasibility Analysis of Fishing Job Operation in Well YS13 Muhammad Ariyon; Bella Santika; Fitrianti
Journal of Geoscience, Engineering, Environment, and Technology Vol. 7 No. 4 (2022): JGEET Vol 07 No 04 : December (2022)
Publisher : UIR PRESS

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.25299/jgeet.2022.7.4.10190

Abstract

Oil consumption in Indonesia has increased from year to year. However, the increasing demand for oil and natural gas is inversely proportional to oil and gas production, which always declines from year to year. One of the factors causing the decline in production is the well damage. Well YS13 is a well that is damaged in the form of fish in the well. A fishing job is the most appropriate option to solve the problem of the presence of fish in the well because the fish in the well must be removed to continue well production activities or drilling activities. This study aimed to determine the economic feasibility of fishing job activities to be carried out at the YS13 well. The research begins with the preparation of the required data, then calculate the predicted production of the YS13 well with the decline curve method, estimates the cost of the fishing job, and economic fishing time (EFT). And determines the economic feasibility of the fishing job project by calculating profit indicators, namely Net Present Value (NPV), Internal Rate of Return (IRR), and Pay Out Time (POT). The results of calculations using the decline curve method obtained that the total production for 20 months is 4293.52 bbl. The EFT value is 3 days with Ps = 10% and the total cost of fishing is $28.657,70. The economic value of the project with discount rate = 12%, MARR = 12%, NPV = $147.367,20, IRR = 114%, and POT = 1.44. From the results of the calculation of the economic feasibility, the project is considered feasible to be carried out.
The Mitigation of Risk Management: Non-Productive Time Analysis on Drilling Operations in ZY Field Muhammad Ariyon; Rahman, Bobby; Sastraningsih, Ellyan; Mayes, Anthony
Journal of Geoscience, Engineering, Environment, and Technology Vol. 9 No. 2 (2024): JGEET Vol 09 No 02 : June (2024)
Publisher : UIR PRESS

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.25299/jgeet.2024.9.2.15261

Abstract

Currently, petroleum is still the main energy source in Indonesia. However, since the 1990s, Indonesia began to experience a decline in oil production and an increase in domestic energy demand, which caused Indonesia to import oil to meet domestic energy needs. Through SKK Migas, Indonesia has a target to produce 1 million barrels per day by 2030, with one of the efforts being undertaken by carrying out massive and aggressive drilling. Drilling is the most critical, dangerous, complex and expensive operation in the oil and gas industry. It cannot be denied that in reality many unplanned problems (unscheduled events) which result in non-productive time (NPT) are encountered during drilling operations which sometimes cause unpredictable budget usage and can also result in delays in hydrocarbon production. This research was carried out by analyzing 50 wells that had been drilled in the BR field. In this research, a risk management process was carried out for the NPT categories to determine the level of risk in each NPT category and develop a mitigation analysis to reduce the NPT. Dealing with the finding, it indicates that the NPT rig moving (RMV) and drilling 8-1/2 (DRLG 8-1/2) categories have a red risk level which means unacceptable. The biggest contribution to NPT in the RMV category is location problems, while for DRLG 8-1/2 it is loss of circulation