Reworking means an operation conducted in the well bore of a well after it is completed to secure, restore, or improve production in a zone which is currently open to production in the well bore. Such operations include well stimulation operations, but exclude any routine repair or maintenance work, or drilling, sidetracking, deepening, completing, recompleting, or plugging back of a well
Water desalination method
The reserve flow project of Katza is a unique system that allows the bi-directional flow of crude oil from the Med to the Red Sea. The assumption is that the increase in consumption of crude oil produced in Russia or Eastern Asia can represent a reliable source of energy supply to the growing demand for energy in the Far East.
A fault with vertical movement and an inclined fault plane. The block above the fault has moved upwards relative to the block below the fault
In the oil and gas sector, revenues from the sales of crude oil and natural gas are recorded when the product is delivered at a fixed or determinable price, title has transferred and collectibility is reasonably assured.
These are very similar to the production sharing contracts, with the exception of contractor payment. With these contracts, the contractor usually receives a defined share of revenue rather than a share of the production. As in the production-sharing contract, the contractor provides the capital and technical expertise required for exploration and development. If exploration is successful, the contractor can recover those costs from the sale revenues
The process of turning LNG – which is liquefied natural gas – back into its gaseous phase
Traditional measures of profitability. Profit returns divided by the volume of resources devoted to the activity. Although oil and gas companies’ profits have risen to record highs as the price of oil has soared, their profitability as measured by return on capital employed has stagnated. In the upstream side of the business average return on capital in 2007 was just 1% point higher than in 2004 even though the average price of a barrel of oil was $30 higher. One of the reasons for this is because capacity shortages in the supply chain, in everything from drilling rigs to steel pipes to skilled staff, have caused costs of exploration and production to rise in line with their revenues. Indeed, services companies, which work for the oil producers have typically done much better out of the boom in the industry.
