05.07.2009

What is known in the financial world as oil and gas and mining

Used to describe oil and gas that may be present even though there is no specific data supporting the estimate, such as when conditions appear to be geologically favorable. Not to be confused with “reserves” (see reserves)

Any estimation of resource quantities is subject to uncertainty and should thus be expressed as a potential range. The function of the three primary categories of reserves (proved, probable, possible) is to illustrate the range of uncertainty in the estimate of the potentially recoverable volume of petroleum from a known accumulation. Such estimates, which are done for each well or reservoir, may be made according to the deterministic or the probabilistic methods and are then aggregated for the whole accumulation/project. The estimate of uncertainty for each accumulation can be tracked over time from exploration through discovery, development and production. This approach provides an extremely effective basis for evaluating the validity of the methodologies used.

The ability to use fewer resources – not only energy – to achieve the same output

Heat generated by the decay of radioactive fission products in a nuclear reactor after shutdown – termination of the chain reaction. The residual heat in the first seconds after shutdown amounts to about 5% of the power prior to shutdown. The residual heat in the fuel elements is equal to approx. 2 kW per tone nuclear fuel after three years of decay time, i.e. about 1 kW per fuel element of a pressurized water reactor

The use of residual heat to generate additional electricity from steam. In hot gas (gas turbine) turbines are driven directly by gases produced by the combustion of natural gas or oil. CCGT plants are driven by both steam and natural gas. They generate power by burning natural gas in a gas turbine and use residual heat to generate additional electricity from steam.

Such as the residual capacity in an LNG gasification facility, after certain capacity has been allocated and/or booked