Abstract
According to past studies, Nigerian Bentonites are found to be deficient in both fluid loss and rheological properties. Due to the deficiency of the Nigerian bentonite (NB), a good majority of bentonites used within Nigeria are imported. This research work seeks to evaluate the economic profitability of beneficiating the fluid loss and rheological properties of NB using periwinkle shell (PWS) and Mucuna Solannie (MS) as additives. The economic evaluation of this research seeks to point out the best possible action, based on available evidence. Two parameters—cost and outcome, are measured by the economic evaluation. From this measurement, an economic evaluation’s results will not exactly point out the better alternative, the way that an experimental trial would. If the most effective option from the evaluation is the cheapest, then it is the most cost effective option. In such a scenario, the most cost effective option is said to be the dominant alternative. From the economic evaluation of the PWS and MS additives performed during the course of this research, it can be said that these additives are economically profitable when added to local bentonite (LB), compared to the cost of using imported bentonite (IB) clay. Estimation of required equipment and facility for processing of additives (PWS and MS), calculation of discounted cash flow rate of return (DCF – ROR) for the investment and sensitivity analysis on the cash flow assumptions were carried out for the achievement of optimum results.
Highlights
Activities involving gas and oil exploration as well as (AWA) production exist virtually every part of the globe where hydrocarbon deposits are deemed to occur
The Nigerian oil industry spends a lot of money importing these foreign bentonite (FB) because her local bentonite (LB) reserve doesn’t meet the specifications required by API and is a less preferred option to the expensive FB [3]
Bringing this waste into the oil industry will be great as its shell contains elements that are viable for improving our local bentonite
Summary
Activities involving gas and oil exploration as well as (AWA) production exist virtually every part of the globe where hydrocarbon deposits are deemed to occur. In order to produce these hydrocarbons (HCs), the industry relies on a number of oilfield chemical formulations; one of such chemical formulations is the drilling fluid (DF). If the research findings on the market demand for DF are anything to go by, it would be safe to infer that as DF demand increases, bentonite clay demand (one of the essential components of most DFs) would correspondingly increase. With this foreseen increase in demand, pressure would pile on the existing bentonite clay reserve sources; depleting it at a rate faster than hitherto anticipated. The Nigerian oil industry spends a lot of money importing these foreign bentonite (FB) because her LB reserve doesn’t meet the specifications required by API and is a less preferred option to the expensive FB [3]
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