Volume 8, Issue 5, September 2020, Page: 116-123
Economic Evaluation of Beneficiating Nigerian Bentonite Using Periwinkle Shell and Mucuna Solannie
Kevin Chinwuba Igwilo, Department of Petroleum Engineering, Federal University of Technology, Owerri, Nigeria
Anthony Kerunwa, Department of Petroleum Engineering, Federal University of Technology, Owerri, Nigeria
Bala S. Zakka, Department of Petroleum Engineering, University of Ibadan, Ibadan, Nigeria
Izunna Chinemelum Okeke, Department of Petroleum Engineering, Federal University of Technology, Owerri, Nigeria
Received: Sep. 12, 2020;       Accepted: Sep. 24, 2020;       Published: Oct. 17, 2020
DOI: 10.11648/j.ogce.20200805.13      View  80      Downloads  50
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.
Keywords
Bentonite, Mucuna Solannie, Periwinkle Shell, Economic Evaluation, Sensitivity Analysis
To cite this article
Kevin Chinwuba Igwilo, Anthony Kerunwa, Bala S. Zakka, Izunna Chinemelum Okeke, Economic Evaluation of Beneficiating Nigerian Bentonite Using Periwinkle Shell and Mucuna Solannie, International Journal of Oil, Gas and Coal Engineering. Vol. 8, No. 5, 2020, pp. 116-123. doi: 10.11648/j.ogce.20200805.13
Copyright
Copyright © 2020 Authors retain the copyright of this article.
This article is an open access article distributed under the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/) which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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