The US is the largest producer of oil worldwide, even though Venezuela has the highest percentage of proven oil reserves in the world. That means that there is more to producing oil than having vast reserves of this commodity. For example, complex systems and processes determine the level of production in an oil field. Understanding what takes place in these fields helps you appreciate the challenges that come with producing oil. To help you gain a deeper perspective of the oil industry, here are 5 things you should know about oilfield production.
1. Oil Rig Workers Receive a Handsome Salary
An oilrig refers to an apparatus that people use for drilling oil. Three kinds of it exist namely a drilling rig, an oil platform, and an oil well. Oil Rig workers operate these machines. Surprisingly, these workers are some of the most highly paid people in the world, even though a college degree is unnecessary for this kind of work. For example, the average salary for an oil rig worker is usually $100,000 yearly. In contrast, the average household income in the US home is between $57,230 and $59,039.
2. Mud Is a Good Thing in Oil Production
Drilling a hole in the ground leads to the production of a countless number of rock chippings, just like sawing wood produces sawdust. Getting rid of these rock chippings is necessary, but it is also a challenging process. The first step in dealing with it is mixing clay and water in fixed proportions. The second one is pumping this mixture down the drilling hole so that it carries away the loose chippings that are in it.
3. The Volume of Production Is Unmatched By Any Other Industry
Did you know that 40% of the cargo that moves across the oceans is oil? That means oil is one of the most produced and transported substances in the world. Producing and transporting it consumes an enormous volume of resources including labor and financial input. Easing the consumption of these resources is possible if you use the right apps. For example, Oilfield software that submits gauge sheets, and tracks tank levels in addition to storing run tickets helps reduce the need for additional pumpers. It also reduces the workload of the pumpers that are already there.
4. Extracting Oil Is Similar To Squeezing Water from a Soaked Sponge
Fossil fuels formed gradually over an extended period. More specifically, the compression of dead organisms under sedimentary rocks took place over millions of years. These compressed organisms sipped in-between the pores of rocks and soil creating something like a soaked sponge. That means extracting oil is more similar to removing water from a wet sponge than it is to drinking water from a straw. Unfortunately, many people think that a vast underground pool of it exists. It does not.
5. Recoverable Every Last Drop of Oil Is Impossible
Many see pump jacks, and they assume that these pumps would recover all the oil that is beneath them. Others hear about substantial oil reserves, and they believe that they can extract the oil in that reserve to the last drop. Unfortunately, most of it will remain untapped for the near future. Some experts even estimate that only 10% to 60% of a reservoir is recoverable. However, the introduction of new technologies on oil fields may lead to changes in this present reality.