Sonatrach

About: Sonatrach is a company organization based out in Algiers, Algeria. It is known for research contribution in the topics: Hydraulic fracturing & Structural basin. The organization has 460 authors who have published 494 publications receiving 6339 citations. The organization is also known as: Sonatrach SPA.

Forecasting volatility for options valuation

Abstract: The petroleum sector plays a neuralgic role in the basement of world economies, and market actors (producers, intermediates, as well as consumers) are continuously subjected to the dynamics of unstable oil market. Huge amounts are being invested along the production chain to make one barrel of crude oil available to the end user. Adding to that are the effect of geopolitical dynamics as well as geological risks as expressed in terms of low chances of successful discoveries. In addition, fiscal regimes and regulations, technology and environmental concerns are also among some of the major factors that contribute to the substantial risk in the oil industry and render the market structure vulnerable to crises. The management of these vulnerabilities require modern tools to reduce risk to a certain level, which unfortunately is a non-zero value. The aim of this paper is, therefore, to provide a modern technique to capture the oil price stochastic volatility that can be implemented to value the exposure of an investor, a company, a corporate or a Government. The paper first analyses the regional dependence on oil prices, through a historical perspective and then looks at the evolution of pricing environment since the large price jumps of the 1970s. The main causes of oil prices volatility are treated in the third part of the paper. The rest of the article deals with volatility models and forecasts used in risk management, with an implication for pricing derivatives.

In Salah Gas, a Fully Integrated Project

Abstract: In the mid-Nineties, a joint venture between SONATRACH and BP successfully demonstrated the commercial potential of gas in Southern Algeria, sanctioning the development of the integrated, complex multi-field “In Salah Gas Project”, which will bring 9 billion cubic meters of dry gas per year to the markets of Southern Europe. Key challenges faced by the jointly staffed In Salah Gas project team were to insure the sustainability of 9 billion cubic meters for 13 years minimum in one of the most hostile environments, to put in place the infrastructures to transfer dry gas to the “Centre National de Dispatching de Gaz” (CNDG), 500 km north of the contractual perimeter and finally to meet the high environmental commitments that had been outlined by the Algerian Ministry of Mines & Energy and the SONATRACH and BP management. The requirement is that the CO2 concentration in the gas stream should be less than 0.3%, significantly below the concentrations present in the In Salah Gas fields, which range between 1% and 9%. The most important aspect of the project is the commitment to non-atmospheric disposal of the 0.66 billion cubic meters per year of extracted CO2 stream that results from the fields production to meet the contracted sales gas volumes. This means that an alternative solution to simply venting would be required. Storage and sequestration of the extracted CO2 stream is planned within the aquifer region of the hydrocarbon bearing Carboniferous formation adjacent to the Krechba field, the most northerly of the gas fields currently in production since July 2004. Three CO2 injection wells have been drilled with results as prognosed from seismic, providing access into the east and north aquifer reservoir region for storage and sequestration of CO2. The project is now operating one of the largest sequestration and storage schemes in the world. Another important aspect of the project is the environmental certification ISO 14001, the first one in the world to get this distinction during the construction phase. Another challenge is to sustain this certification for the whole life of the project. This document provides a case study of one of the first major gas developments where an integrated mitigation plan was constructed in the initial stages of project design, ahead of project sanction. The paper will describe the project and outline the key elements of the development, and the complexity faced by the project team to resolve the environmental, geographical and logistic issues. It will also focus on the options and the solutions that have been identified for managing the key environmental issues of CO2 management and ISO 14001 certification. IPTC 11042 In Salah Gas, a Fully Integrated Project S. Sahnoun, Sonatrach D ow naded rom http://oetro.org/IPTC O N F/procegs-pdf/05IPTC /Al5IPTC /TC -110-ABSTR AC T/18449341042-abstract.pdf by gest on 08 N ovem er 2021

A Non-Radioactive Flow Meter Using a New Hierarchical Neural Network

Abstract: In this paper, a Multilayer neural network has been developed to carry out the fusion of multi-sensor information for a new multiphase flow meter (MPFM) device. The velocity and density of each phase are determined using the fluid electrical and acoustic property signals which are combined with the physical models of multiphase fluids, in addition to the venturi, differential pressure, and absolute pressure sensors. Two rings of high and low frequency ultrasonic sensors are used to overcome the uncertainties of the electrical sensors in the range of 40-60% water-cut for low and high gas fractions respectively. Experimental results on a multiphase flow loop show that real-time classification of phase flow rates for up to 90% gas fraction can be achieved with less than 10% relative error.