J. Tumba, A. Agi, Afeez O. Gbadamosi, R. Junin, Azza Hashim Abbas, Kourosh Rajaei, J. Gbonhinbor
{"title":"Lignin As a Potential Additive For Minimizing Surfactant Adsorption On Clay Minerals In Different Electrolyte Concentration","authors":"J. Tumba, A. Agi, Afeez O. Gbadamosi, R. Junin, Azza Hashim Abbas, Kourosh Rajaei, J. Gbonhinbor","doi":"10.2118/198713-MS","DOIUrl":"https://doi.org/10.2118/198713-MS","url":null,"abstract":"\u0000 The use of surfactants in chemical enhanced oil recovery can recover more oil trapped in the reservoir. However, the loss of surfactant due to adsorption on porous media renders the process ineffective and economically unfeasible. In this study, the adsorption of sodium dodecyl sulfate (SDS) and 4-octylphenol polyethoxylated (TX-100) on different clay minerals (kaolinite, montmorillonite, illite and quartz) as a function of the surfactant concentration, pH and salinity has been investigated. Besides, the use of lignin alkali as a sacrificial agent to reduce adsorption of surfactants in the reservoir is proposed. Surfactant adsorption on the different minerals was determined using the surface tension technique and batch equilibrium adsorption process with lignin as sacrificial agent. The experiment was conducted at varying pH and electrolyte concentrations. Furthermore, oil displacement test was conducted in a sandpack to determine the amount of oil recovered by the surfactant before and after pre-flush with lignin alkaline. Experimental result reveals that SDS adsorbed more on kaolinite while, TX-100 on montmorillonite. The decrease in pH increased the adsorption of SDS on kaolinite and illite, meanwhile, the adsorption of TX-100 on montmorillonite increased significantly at low pH. The optimum salinity concentration for both surfactants was at 20,000ppm for all the minerals except for kaolinite which was at 30,000ppm. Lignin alkaline reduced the surfactant adsorption by 50% and 53.2% for SDS and TX-100 respectively. Oil displacement test with SDS and TX-100 surfactants after water flooding had additional recovery of 7.44% and 4.18% respectively while, after pre-flush the recovery increased by 2.2%.","PeriodicalId":11250,"journal":{"name":"Day 3 Wed, August 07, 2019","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-08-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80798406","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
I. C. Nwogu, Asaolu Ayo, Osamuedemen Asemota, Ozzy Ajibade
{"title":"Successful Application of Capacitance Resistance Modeling to Understand Reservoir Dynamics in Brown Field Waterflood – A Niger Delta Swamp Field Case Study","authors":"I. C. Nwogu, Asaolu Ayo, Osamuedemen Asemota, Ozzy Ajibade","doi":"10.2118/198819-MS","DOIUrl":"https://doi.org/10.2118/198819-MS","url":null,"abstract":"\u0000 Capacitance Resistance Model (CRM) is an analytical tool for estimating reservoir properties and connectivity between producer-injector pairs in an established waterflooded oil reservoir system. The analysis incorporates historical production data, injection rates and available bottom hole pressures. In Swamp Field B (Niger Delta Nigeria), there were concerns of connectivity between producer and injector pairs in the K2 reservoir. CRM analysis was applied to resolve the uncertainty in producer-injector connectivity and provide better understanding of the reservoir flow dynamics.\u0000 Understanding the connectivity between existing injectors and producers, to ensure adequate water injection distribution for reservoir voidage balance and pressure maintenance necessitated a geologic and engineering review of existing data.\u0000 The results of the study revealed strong inter-well connectivity between active producers and two idle injectors in the reservoir for the period analyzed, corroborating a revised geologic interpretation of the reservoir. The idle injectors were previously left shut-in due to a geologic interpretation of the presence of shale impacting connectivity and performance.\u0000 Upon implementing recommendations from the study, an immediate pressure and production response was observed within three months of restoring the two idle injectors. The reactivation of the idle injectors also resulted in $20 MM savings by averting further work on a proposed new water injector.\u0000 This paper discusses the application of CRM in understanding producer-injector connectivity and emphasizes the use of digital analytic tools to better understand waterflood performance and address challenges with balancing voidage and maintaining reservoir pressure. It demonstrates the value of CRM technique in brown fields and the multidisciplinary approach adopted. Further application of similar techniques in other waterflood reservoirs within Chevron Nigeria is currently ongoing.","PeriodicalId":11250,"journal":{"name":"Day 3 Wed, August 07, 2019","volume":"59 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-08-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82081845","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Production and Characterization of Tyrosinase Enzyme for Enhanced Treatment of Organic Pollutants in Petroleum Refinery Effluent","authors":"J. O. Osuoha, B. Abbey, E. Egwim, E. Nwaichi","doi":"10.2118/198791-MS","DOIUrl":"https://doi.org/10.2118/198791-MS","url":null,"abstract":"\u0000 One of the cruel environmental quagmires confronting the Petroleum industry is the high organic pollutant levels in the bio-treatment unit of its refinery wastewater treatment plants which is not in line with the design specification. High level of organic pollutants in discharged non-compliant effluents from petroleum refineries leads to varied environmental hazards. Wastewaters discharged from petroleum refineries are characterized by the presence of toxic pollutants like phenols, polycyclic aromatic hydrocarbons (PAHs), metal derivatives, etc. Numerous enzymes from plants, fungi and bacteria have been reported to be involved in the degradation of toxic organic pollutants but with limited field trials. The present study focuses on production and characterization of enzyme, tyrosinase expressed by native microorganisms in refinery wastewater and its application in the removal of organic pollutants from petroleum refinery effluents. A total of 10 microbial strains were identified and isolated from refinery wastewater and screened for expression of tyrosinase using standard microbiological methods. Among 10 isolates, 4 isolates; Bacilus subtilis, Verticillium sp., Penicillium sp. and Aspergillus flavus were selected for enzyme characterization and production based on the magnitude of the zone of clearance they produced. Tyrosinase was produced in broth and partially purified by ammonium sulfate precipitation, dialysis and Sephadex G-75. The purified enzyme was immobilized in sodium alginate and was used for the treatment of petroleum refinery wastewater. Results revealed that the immobilized enzyme significantly removed phenol and PAHs present in the wastewater by 95 %, and 89 % respectively. These findings highlight the viability of enzyme, tyrosinase, for the degradation of organic pollutants in petroleum-derived effluents.","PeriodicalId":11250,"journal":{"name":"Day 3 Wed, August 07, 2019","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-08-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86042686","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Jacob B. Neeka, Uche Ikoku, Ere Iyalla, O. Joel, S. S. Ikiensikimama
{"title":"Predictive Models on Viable Options for Liquefied Petroleum Gas LPG Distribution: Case for a Small and Medium Scale Enterprise SME Commodity in Nigeria","authors":"Jacob B. Neeka, Uche Ikoku, Ere Iyalla, O. Joel, S. S. Ikiensikimama","doi":"10.2118/198871-MS","DOIUrl":"https://doi.org/10.2118/198871-MS","url":null,"abstract":"\u0000 Liquefied Petroleum Gas (LPG), a product of natural gas processing is a mixture of hydrocarbon gases mainly propane, butane, butylene and impurities such as Sulphur compounds. The production of LPG depends largely on available natural gas. Fortunately, Nigeria has proven gas reserves of over 189.27 Trillion Cubit Feet (TCF). However, LPG production in the country and its distribution especially in an emerging economy appeared to have limited growth over the last three decades. In this study, a stochastic model is applied to secondary historical and predictive data from 1994 – 2020, essentially on the production, consumption and streamline distribution pattern for the country. Certain assumptions were made including changes in the various stages in the production value chains (production, storage, distribution, pipeline infrastructure, and supply chains in-country.). Linear regression and correlation approaches were adopted using the models which agreed favorably with the plots from established data. It indicated that LPG consumption increases rapidly from 2016 upward following increases in infrastructural surplus, investment and awareness enlightenment initiatives. The results obtained indicated a strong correlation between demand-supply bond driven by market forces in the urban and suburban cities in-country. These indicators are reliable parameters for sustainable strategic planning, policy development and implementation for rapid economic recovery.","PeriodicalId":11250,"journal":{"name":"Day 3 Wed, August 07, 2019","volume":"71 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-08-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90330328","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Impact of the Proposed Petroleum Industry Fiscal Bill PIFB, 2018 Tax Scheme on the Economics of Oil Production in Nigeria","authors":"Bariture Nyoor, Adeogun Oyebimpe, O. Iledare","doi":"10.2118/198782-MS","DOIUrl":"https://doi.org/10.2118/198782-MS","url":null,"abstract":"\u0000 Revenue from petroleum operations remains the most important contributor to government expenditures in Nigeria. Hence, the onus is on the central government to design fiscal regime that would maximize economic rents to the nation. The Petroleum Industry Fiscal Bill (PIFB) of 2018 seems to be the awaited bill that may satisfy the economic objectives of the Nigerian government. PIFB 2018 proposes the replacement of the default petroleum profit tax with single tax system, petroleum income tax and additional petroleum income tax to cater for windfall profits. This research uses deterministic spreadsheet approach to evaluate the impacts of this new tax scheme on the profitability of oil ventures in Nigerian deep-water production sharing contracts. The deterministic results were subjected to Monte Carlo Simulation using Crystal Ball Risk analysis software to account for risks and uncertainties inherent in the business. The typical project examined under PIFB (2018) generated a positive Net Present Value (NPV) of MM$595.18, an Internal Rate of Return (IRR) of 23.7% which is higher than opportunity cost of capital, Profitability Index (PI) of 1.34, Contractor take of 11.9% and Host Government take of 88.1%. All evaluated indicators gave positive results meaning that investments under this new fiscal regime will be profitable giving the government higher take as compared to the current regime. The results also show that the contractor take can increase to as high as 25% taking advantage of Reserves Replacement Ratio (RRR) tied to additional production allowance. The bill however, does not explicitly state the conditions for cost recovery limit and profit oil sharing, as such could create a lot concerns to investors and may also hamper investment in the industry. Hence, the bill should be reviewed before passage into law.","PeriodicalId":11250,"journal":{"name":"Day 3 Wed, August 07, 2019","volume":"6 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-08-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76430691","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
R. Amorin, E. Broni-Bediako, Collins Westkinn, Prince Opoku Appau
{"title":"Performance Assessment and Economic Analysis of Blended Class G Cement With Local Cement for Oil Well Cementing Operations: A Case Study of Ghana","authors":"R. Amorin, E. Broni-Bediako, Collins Westkinn, Prince Opoku Appau","doi":"10.2118/198823-MS","DOIUrl":"https://doi.org/10.2118/198823-MS","url":null,"abstract":"\u0000 Good cementing job practices are required for an efficient advancement in drilling and production operations. Most drilled oil and gas wells in Ghana employ the use of class G cement in its cementing operations. This class G cement is imported, scarcely available and relatively more expensive compared to other forms of cements. It also does not promote the local content and local participation policy of the country in the oil and gas sector. This has therefore necessitated the need to research into available local cements (easily available and relatively inexpensive) as an alternative to serve the same purpose as the imported class G cement. This research therefore assesses the performance of class G cement blended with local cement at different ratios in an attempt to reducing the overdependence of the class G cement while considering the technical requirements and economic implications. All the blended samples met the minimum API compressive strength requirement of 1500 psi when cured for 8 hours at 140 °F. Though, free fluid values increased with increasing amount of local cement ratio, all values recorded were below the maximum field requirement value of 5.9%. The blended samples exhibited the ability to be pumpable, recording plastic viscosity less than the maximum recommended value of 100 centipoise (cP). It was therefore established that the use of blended samples (local and Class G) for oil well cementing operations in Ghana would save the industry from 19.57% to 78.28% of money over the use of class G cement only. Considering the performance and economic benefits of the blended cement over the class G cement only at the test conditions, it is highly recommended that, the industry adopts the blending of class G cement with the local cement in their cementing operations to boost the local economy as well as to reducing their cementing operation cost.","PeriodicalId":11250,"journal":{"name":"Day 3 Wed, August 07, 2019","volume":"60 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-08-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78959122","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Production Optimization through Pressure Transient Analysis","authors":"Fagbowore Olufisayo, O. Anthony","doi":"10.2118/198787-MS","DOIUrl":"https://doi.org/10.2118/198787-MS","url":null,"abstract":"\u0000 Intelligent field completions have seen more frequent deployment in the oil and gas industry in recent times. This is most likely due to the benefits that have been observed from real-time data acquisition, surveillance and optimization based on analysis of data gathered. With continuous acquisition of real-time data, analysis of the transient pressure and rate data can be used to understand changes in reservoir and well performance over time. The aim of this paper is to show how the evolution of parameters obtained from pressure transient analysis can be used to optimize well and reservoir performance.\u0000 Key parameters obtained from pressure transient analysis (PTA) are permeability, skin, reservoir pressure and information on boundaries depending on shut-in duration. Analyses are performed for all shut-ins of the completion, both planned shut-ins and unplanned shut-ins (emergency shutdowns - ESDs). The results of all these analyses are catalogued to provide an historical surveillance data which, when trended, can provide insight into the near-wellbore performance of a completion as well as the reservoir.\u0000 This paper demonstrates how Pressure Transient Analysis of real-time data was used in the Agbami Field to optimize production from the field. Two case studies are presented where analysis of transient pressure data was used to identify water injection front movement in a waterflooded reservoir and increasing near-wellbore damage due to fines migration. The results were used to optimize injection into a waterflooded reservoir to achieve a balance between maintaining reservoir pressure and optimizing voidage. In the case of continually increasing skin, the completion was stimulated with production increasing by a factor of 15.","PeriodicalId":11250,"journal":{"name":"Day 3 Wed, August 07, 2019","volume":"44 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-08-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89000043","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Humphrey Osita, Nico Foekema, O. Oredolapo, Raphael Ozioko, Antoine Chapoulie, Kehinde Omojowolo, John Okoroafor
{"title":"Rotary Steerable Directional Jetting Service Successfully Delivering Step Change in Directional Well Design for Soft Sediment Formation in Deepwater Nigeria","authors":"Humphrey Osita, Nico Foekema, O. Oredolapo, Raphael Ozioko, Antoine Chapoulie, Kehinde Omojowolo, John Okoroafor","doi":"10.2118/198754-MS","DOIUrl":"https://doi.org/10.2118/198754-MS","url":null,"abstract":"\u0000 This paper describes the successful technique to start a kickoff below the 36-in. conductor casing with much higher dogleg severity (DLS) capability than a conventional motor directional drilling method in a soft sediment formation by using a rotary steerable system (RSS) equipped with directional jetting. This technique uses a rotary steerable system (RSS) equipped with directional jetting to provide the operator with a step change in directional well design for reaching shallow reservoirs with inclinations close to horizontal.\u0000 The challenging aspect of the well design was that only 650m (2133ft) of TVD was available to perform the directional work. This section consisted of weak and soft sediment formations that did not support conventional directional drilling methods.\u0000 To address the operator's challenge, it was determined that a RSS configured for directional jetting could deliver the higher DLS for the optimal well trajectory. This system combines two techniques, rotary steerable and directional jetting, to achieve the directional objective. This field-proven application was successfully used by several operators, as described in SPE-173057-MS, and applied in this deepwater low-UCS environment. The extensive engineering evaluation, using finite-element analysis and torque-and-drag calculations, confirmed the bottom hole assembly (BHA) design was technically feasible without compromising safety and drilling efficiency.\u0000 Three wells successfully delivered all directional objectives with this technique. The highest inclination was recorded in the top hole as planned; the sailing angle was lower compared to other wells drilled with conventional directional drilling methods, and the target sands reached at an angle close to horizontal. Completions ran without issues. This technique delivered above 3°/30m DLS in the deepwater soft formation and all future wells for this operator will use this technique for the tophole drilling.","PeriodicalId":11250,"journal":{"name":"Day 3 Wed, August 07, 2019","volume":"6 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-08-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89967882","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
C. Amos, E. Osanaiye, S. Louis, E. Ighavini, Grace Ahabike, A. Olofin, Rebecca Ejukorlem-Okusi
{"title":"Cement Packer: Recovery of Bypassed Reserves in Highly Deviated Well Using Large-Volume Cement Through Coiled Tubing, Offshore Niger Delta","authors":"C. Amos, E. Osanaiye, S. Louis, E. Ighavini, Grace Ahabike, A. Olofin, Rebecca Ejukorlem-Okusi","doi":"10.2118/198727-MS","DOIUrl":"https://doi.org/10.2118/198727-MS","url":null,"abstract":"\u0000 Recently, a multinational exploration and production (E&P) company identified an opportunity for production optimization in a shallow reservoir with the zone of interest behind casing and without using any form of isolation for completions.\u0000 A major challenge during this operation was the engineering design, as this was the first time a catenary cement operation of more than 31.8 m3 (200 bbl) of slurry would be pumped through coiled tubing (CT), in addition to the high well deviation (~79°) consideration for installation of the cement retainer. Additionally, insufficient deck space on the platform and load-bearing capacity to accommodate the intervention spread presented a potential derailer for the attic oil development.\u0000 A rigless well intervention program was designed using a 1.75-in. (125K) CT catenary system unit, which could be installed on a barge. The system would allow better CT reach and a higher injector snub/pull capacity. CT was used to install the cement retainer, punch holes in the 4 1/2-in. tubing, and pump cement.\u0000 A total of 34.6 m3 (218 bbl) of 15.8-lbm/gal resilient slurry was pumped through CT, which was equivalent to pumping a cement volume approximately six times greater than the CT volume. This was necessary to place a 1056-m cement packer in the 4 1/2-in. tubing 9 5/8-in. casing annulus and place 200 m of cement on the cement retainer.\u0000 The operation was successfully completed using CT, avoiding more costly rig options for recompletion of the well. Zonal isolation was achieved, and the bypassed reservoir pay was perforated with ~600 B/D production. This approach proved to be cost-effective, with savings of approximately USD 1.3 million, which was achieved without compromising operational and safety performance.\u0000 Rigless recompletion has been a cost-effective approach for production optimization in mature fields. However, existing well architecture, access to bypassed hydrocarbon pays, and environmental characteristics present challenges for developing some of these reserves.","PeriodicalId":11250,"journal":{"name":"Day 3 Wed, August 07, 2019","volume":"85 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-08-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85574273","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Between PPT and PIFB 2018: Risk Assessment of Stakeholders for an Integrated Petroleum Asset Development","authors":"Kaase Gbakon, O. Iledare, O. Adeogun","doi":"10.2118/198728-MS","DOIUrl":"https://doi.org/10.2118/198728-MS","url":null,"abstract":"\u0000 This paper performs uncertainty quantification (UQ) to capture the risk – both from investor and government perspective – to which an integrated petroleum development project is exposed to. The current fiscal system will be compared against the proposed PIFB 2018. Following the field development concept, the comparative economics are developed using Discounted Cash Flow (DCF) in recognition of the extant fiscal provisions. The DCF is expressed in nominal terms with sensitivity and stochastic modelling. The integrated development concept incorporates a 12kbpd refinery and a 150mmscfd gas plant on a 250mmboe onshore marginal field. The results indicate that the Petroleum Industry Fiscal Bill (PIFB 2018) delivers nearly twice in expected investor value than the current Petroleum Profit Tax/Marginal Field Regulations (PPT/MFR) on the integrated project. Furthermore, government take (GT%) shrinks from 45% under the PPT/MFR to 28% under the proposed regime. Stochastic analysis shows that investors are less exposed to failure under PIFB fiscal terms and instruments than the PPT/MFR. There is a higher likelihood (54%) of investor failure under the PPT than the 46% probability of a loss under the PIFB. The expected GT under PIFB is lower than that under PPT, however, there is significant likelihood (>65%) that neither system will deliver to government as much as the expected lifecycle Take. However, decoupling the value chain reveals varying risk reward profiles for the different segments with implications for policy formulation. A key insight drawn from the study is for policy makers to encourage the development of integrated projects to deliver a \"portfolio\" government take. This will smoothen out volatilities in tax receipts given that in this integrated development, government inflows from the different value chain components have different timings, levels and uncertainty.","PeriodicalId":11250,"journal":{"name":"Day 3 Wed, August 07, 2019","volume":"18 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-08-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83751397","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}