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Natural resources and geothermal energy in the Netherlands

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Natural resources and geothermal energy in the Netherlands ( natural-resources-and-geothermal-energy-the-netherlands )

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Exploration Potential Calculating the exploration potential using a discounted cash flow model requires a set of parameters. The most imported parameters for the economic prospect evaluation are: Oil price (99$), Euro-dollar exchange rate (1.2), Deduction of costs based on “Unit Of Production” and the standard GasTerra depletion rules. Important scenario parameters are: the number of exploration wells per year (10) and the incorporation of the growth and decline of the infrastructure. The model ExploSim is used to calculate the exploration potential. A detailed description can be found in: LUTGERT, J., MIJNLIEFF, H. & BREUNESE, J. 2005. Predicting gas production from future gas discoveries in the Netherlands: quantity, location, timing, quality. In: DORE, A. G. & VINING, B. A. (eds) Petroleum Geology: North-West Europe and Global Perspectives—Proceedings of the 6th Petroleum Geology Conference, 77–84. q Petroleum Geology Conferences Ltd. Published by the Geological Society, London. Units: Standard m3: Natural gas and oil reserves are expressed in m3 at a pressure of 101.325 kPa (or 1.01325 bar) and 15°C. This m3 is defined as Standard m3 in Standard no. 5024-1976(E) of the International Organization for Standardization (ISO), and is normally abbreviated to Sm3. Normal m3: Natural gas and oil reserves are expressed in m3 at a pressure of 101.325 kPa (or 1.01325 bar) and 0°C. This m3 is defined as Normal m3 in Standard no. 5024-1976(E) of the International Organization for Standardization (ISO), and is normally abbreviated to Nm3. Groningen gas equivalent: For the purpose of performing calculations with volumes of natural gas of varying qualities, these are converted to a Groningen gas equivalent. This is achieved by converting a volume of gas from an accumulation that produces a different quality of gas, to a (fictitious) volume of gas of the quality of the Groningen accumulation (35.17 Mega joules upper value per m3 of 0°C and 101.325 kPa. or 1.01325 bar). One Nm3 gas that has a calorific value of 36.5 MJ equals 36.5-35.17 m3 Groningen gas equivalent (Geq) The term Groningen gas equivalent is also commonly used by the N.V. Nederlandse Gasunie. 127 Annex 20

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