Main Project Finance Mechanisms In The Upstream Oil & Gas Industry And The Risk And Project Life Cycle Effects Of Using Venture Capital Finance

Environmental Impact Assessment in Oil and Gas ExploitationTOPIC:Presentation By: John K. Arthur Theophilus Tawia11Presentation OutlineIntroductionWhat Is Environmental Impact Assessment (EIA)?Potential Environmental Impacts From Oil And Gas Exploration And ProductionConclusionReferences2INTRODUCTIONEnvironmental impacts of the extraction of oil and gas reserves at different times and in various places have included:air pollutionwater pollutionoil spillssocio-cultural impactsecological damageaccidents and fires. The achievement of a synergy between environmental protection and the economic benefits afforded by oil and gas exploitation has posed a challenge in the past and continues to do so now and into the future.

3What Is Environmental Impact Assessment (EIA)?EIA is an information gathering exercise carried out by the developer and other bodies which enables a Local Planning Authority to understand the environmental effects of a development before deciding whether or not it should go ahead. 4Potential Environmental Impacts From Oil And Gas Exploration And ProductionHuman, socio-economic and cultural impactsland-use patterns such as; agricultureFishingLogginghunting

local population levels, as a result of immigration (i.e labour force) and in-migration of a remote population due to increased access and opportunities5Potential Environmental Impacts From Oil And Gas Exploration And Production (cont.)socio-economic systems due to new employment opportunities, income differentials, inflation, differences in per capita income, when different members of local groups benefit unevenly from induced changes

6Potential Environmental Impacts From Oil And Gas Exploration And ProductionAtmospheric impactsflaring, venting and purging gasescombustion processes such as diesel engines and gas turbinesParticulates from other burning sources, such as well testing.

7Potential Environmental Impacts From Oil And Gas Exploration And Production (cont.)Aquatic Impact drilling fluids, cuttings and well treatment chemicalsProcess, wash and drainage waterSewerage, sanitary and domestic wastesSpills and leakage8Potential Environmental Impacts From Oil And Gas Exploration And Production (cont.)Terrestrial impacts physical disturbance as a result of construction;contamination resulting from spillage and leakage orSolid waste disposal; and indirect impact arising from opening access and social change.9Potential Environmental Impacts From Oil And Gas Exploration And Production (cont.)Ecosystem Impact Plant and animal communities may also be directly affected by changes in their environment through variations in water, air and soil/sediment quality and through disturbance by noise, extraneous light and changes in vegetation cover.1011Exploration ActivityEnvironmental Disturbance FactorPotential EffectSeismicAir gun dischargesChemical explosivesVessel transitDisplacement or loss of biota, especially fish and wildlife.Loss of fishing gearDisplacement of fishing activitiesDrillingDischarge of toxic drilling fluidsDischarge of fines and solids from drillingOperational noiseVessel and aircraft trafficLoss of well control leading to gas and oil spillsLoss of habitatDisplacement or loss of biotaTainting of fish and shell fishDegradation of beachesDisplacement of fishing activitiesWell suspension and abandonmentDebrisVessel and aircraft trafficDisturbance of biotaLoss of fishing gearDisplacement of fishing activitiesCONCLUSIONInformation is important for creating awareness. One of the key conditions for managing the environment is information, such as knowledge about the environment and linkages between the environment and human environment (Gresham, et al., 1997).

Participation is a function of information through which people come to share a development vision, make choices, and manage activities (World Bank, 1996b). 12REFERENCES Claire Pettit (2006): "Environmental Impact Assessment (EIA)", London: The Institute of Environmental Management and Assessment.Environmental Impact Assessment (EIA) (2009), London: International Institute for Environment and Development (IIED). Industry & Environment Unit, Centre for Science & Environment (2006): "Introduction to Environment Impact Assessment." Ron Bisset (1996): "Environmental Impact Assessment: Issues, Trends and Practice"; United Nations Environment Programme (UNEP).

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