3rd Edition

Petroleum Economics and Engineering




ISBN 9781466506664
Published December 14, 2013 by CRC Press
478 Pages 16 Color & 114 B/W Illustrations

USD $375.00

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Book Description

This book explains how to apply economic analysis to the evaluation of engineering challenges in the petroleum industry. Discussion progresses from an introduction to the industry, through principles and techniques of engineering economics, to the application of economic methods. Packed with real-world examples and case studies demonstrating how to calculate rate of return, discounted cash flow, payout period, and more, Petroleum Economics and Engineering, Third Edition assists petroleum engineers, chemical engineers, production workers, management, and executives in sound economic decision-making regarding the design, manufacture, and operation of oil and gas plants, equipment, and processes.

The fully revised third edition is updated to reflect key advancements in petroleum technology and expanded to include chapters on middle stream operations, known as surface petroleum operations (SPO), and natural gas processing and fractionation. By looking globally at the hydrocarbon industry, the improved text offers the reader a more complete picture of the petroleum sector, which includes the global processes of exploration, production, refining, and transportation.

Table of Contents

Preface

The Editors

Contributors

Introduction to the Oil and Gas Industry

World Oil and Gas Supply and Demand
M.A. Al-Sahlawi

Structure of the Oil and Gas Industry
M.A. Al-Sahlawi

Characteristics of Crude Oil and Properties of Petroleum Products
Saad Al-Omani

Principles, Methods, and Techniques of Engineering Economics Analysis

Time Value of Money (TVM) in Capital Expenditures
M. Bassyouni

Depreciation and Depletion in Oil Projects
Shereen M.S. Abdel-Hamid and Faheem H. Akhtar

Financial Measures and Profitability Analysis
Maha Abd El-Kreem

Analysis of Alternative Selections and Replacements
Khaled Zohdy

Risk, Uncertainty, and Decision Analysis
Jamal A. Al-Zayer, Taqi N. Al-Faraj, and Mohamed H. Abdel-Aal

Break-Even and Sensitivity Analysis
Taqi N. Al-Faraj and Jamal A. Al-Zayer

Optimization Techniques
Jamal A. Al-Zayer, Taqi N. Al-Faraj, and Mohamed H. Abdel-Aal

Applications and Case Studies

Exploration and Drilling
Hussein K. Abdel-Aal

Reserves and Reserve Estimate
K.A. Al-Fusail (Deceased)

Production Operations
Mohamed A. Aggour and Hussein K. Abdel-Aal

Gas-Oil Separation
Hussein K. Abdel-Aal

Crude Oil Treatment: Dehydration, Desalting, and Stabilization
Hussein K. Abdel-Aal and Halim H. Redhwi

Gas Treatment and Conditioning
Hussein K. Abdel-Aal and H.H. Redhwi

Crude Oil Refining: Physical Separation
Hussein K. Abdel-Aal and Gasim Al-Shaikh

Crude Oil Refining: Chemical Conversion
Abdullah M. Aitani

Natural Gas Processing: Recovery, Separation, and Fractionation of NGL (Natural Gas Liquids)
Mazyad Al Khaldi

Oil and Gas Transportation
M.A. Al-Sahlawi

Bibliography

Conversion Factors

Compound Interest Factors

Index

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Editor(s)

Biography

Hussein K. Abdel-Aal is emeritus professor for National Research Center (NRC), Cairo, Egypt and King Fahd University of Petroleum and Minerals (KFUPM), Dhahran, Saudi Arabia. He received his BS from Alexandria University, Egypt and his MS and Ph.D from Texas A&M University, College Station, USA. He has worked as process engineer for Suez oil refineries, headed KFUPM’s Chemical Engineering Department, served as visiting professor for Texas A&M, and headed NRC’s Solar Energy Department. He has contributed to over 90 technical papers, edited one book on petroleum economics and engineering, and authored Petroleum and Gas Field Processing. An AIChE member and fellow, he is founder of the board for the International Association of Hydrogen Energy, Miami, Florida, USA.

Mohammed A. Alsahlawi is a previous dean and current professor for King Fahd University of Petroleum and Minerals (KFUPM), Dhahran, Saudi Arabia. He holds a BS and MBA from KFUPM and a Ph.D from University of Wisconsin-Milwaukee, USA. He has served as manager of KFUPM’s Economic and Industrial Research Division; head of the News Agency and Information Department for the Organization of the Petroleum Exporting Countries, Vienna, Austria; member of the Advisory Board of the Saudi Arabian Supreme Economic Council, Riyadh; and director of the Human Resources Development Fund, Riyadh, Saudi Arabia. He also was the first president of the Saudi Association for Energy Economics.

Reviews

"…an excellent text for petroleum engineering departments, and a very good supplementary text in economics and chemical engineering departments. It is also a very good reference for practicing engineers."
—Mazen A. Al-Shalabi, King Fahd University of Petroleum and Minerals, Dhahran, Saudi Arabia