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CGE 567
CGE 567
Reservoir Engineering 1
Oil Properties
Oil Properties
An accurate description of physical properties of crude oils is
of a considerable importance in the fields of both applied and
theoretical science and especially in the solution of petroleum
reservoir engineering problems.
Data on most of these fluid properties are usually determined
by laboratory experiments performed on samples of actual
reservoir fluids.
In the absence of experimentally measured properties of
crude oils, it is necessary for the petroleum engineer to
determine the properties from empirically derived
correlations.
API Gravity
The API gravity is the preferred gravity scale
The gravity scale is precisely related to the specific gravity by
the following expression:
The API gravities of crude oils usually range from 46 API for
the lighter crude oils to 10 API for the heavier asphaltic crude
oils
API Gravity
API Gravity
API Gravity
API Gravity
In general, crude oil is sold through a variety of contract
arrangements and in spot transactions. Oil is also traded on
futures markets but not generally to supply physical volumes of
oil, more as a mechanism to distribute risk. These mechanisms
play an important role in providing pricing information to
markets.
In fact, the pricing of crude oils has become increasingly
transparent from the 1990s onwards through the use of
benchmark crudes such as:
API Gravity
In Asia there is no futures exchange where crude oil is traded and
which would provide pricing information to the same extent as
WTI and Brent. In Asia the pricing mechanism for say Tapis, a
benchmark for light sweet crudes in the region, is based on an
independent panel approach where producers, refiners and
traders are asked for information on Tapis crude trades.
There are details assessment done by Platts, McgGraw Hill
Financial as for the benchmarking. Generally this is based on a
formula approach where a benchmark crude is used as the base
and then a quality differential (premium/discount) as well as a
demand/supply (premium/discount) is added depending on the
crude being purchased.
AIP (Australian Institute of Petroleum)
Department Oil & Gas, Faculty of Chemical Engineering
API Gravity
Prices of crude oil markers and petroleum product markers are
affected by a myriad of factors including:
API Gravity
West Texas Intermediate (WTI) is the benchmark oil prices most
often used in North America
Also known as Texas light sweet.
WTI is light crude oil with API gravity of around 39.6 , specific
gravity 0.827 (lighter than Brent crude) and sulfur content of
0.25%
API Gravity
Brent Crude is a major trading classification of sweet light crude
oil that serves as a major benchmark price for puchase of oil
worlwide.
Brent Blend crude oil has an API gravity of 37.9 degrees and 0.45
percent sulfur.
Brent is the leading global price benchmark for Atlantic basin
crude oils
API Gravity
The Tapis field, off the coast of Terengganu in Peninsular Malaysia,
was discovered in 1969 and started production in 1978.
Tapis, among Asias premium grades along with Australias Cossack
and Griffin, is valued because it enables refiners to produce a
greater amount of gasoline without increased investments. Most
types of crude oil from the Middle East contain a greater
proportion of sulfur and other pollutants.
Tapis has an API gravity of 46 degrees and contain 0.0343 % sulfur
by weight
Malaysias Tapis crude oil, once the worlds most expensive
grade, is losing its status as a benchmark for Asian refiners buying
grades from Australia, Indonesia and Vietnam because of declining
output.
Christian Schmollinger, Blooberg; December 15, 2008
Department Oil & Gas, Faculty of Chemical Engineering
API Gravity
Gas Solubility
The gas solubility Rs is defined as the number of standard
cubic feet of gas that will dissolve in one stock tank barrel of
crude oil at certain pressure and temperature
Know as solution gas-oil ratio (the volume of gas in SCF
dissolved in one STB of oil at a specific reservoir pressure)
Gas Solubility
The solubility of a natural gas in a crude oil is a strong function
of the pressure, temperature, API gravity and gas gravity.
For a particular gas and crude oil to exist at a constant
temperature, the solubility increases with pressure until the
saturation pressure is reached.
At the saturation pressure (bubble-point pressure) all the
available gases are dissolved in the oil and the gas solubility
reaches its maximum value.
Rather than measuring the amount of gas that will dissolve in
a given stock-tank crude oil as the pressure is increased, it is
customary to determine the amount of gas that will come out
of a sample of reservoir crude oil as pressure decreases.
Gas Solubility
As the pressure is reduced from the initial reservoir pressure
pi, to the bubble-point pressure pb, no gas evolves from the oil
and consequently the gas solubility remains constant at its
maximum value of Rsb.
Below the bubble-point pressure, the solution gas is liberated
and the value of Rs decreases with pressure.
Oil Compressibility, Co
The fractional reduction in oil volume that results from a
pressure increase of one psi.
The volume changes of oil above the bubble point are very
significant in the context of recovery of undersaturated oil.
The oil formation volume factor variations above the bubble
point reflect these changes.
The equation for oil compressibility :
Oil Compressibility, Co
In term of formation volume factors this equation yields :