The proved reserves of natural gas as of December 31 of any given year are the estimated quantities of natural gas which geological and engineering data demonstrates with reasonable certainty to be recoverable in the future from known natural oil and gas reservoirs under existing economic and operating conditions.
Recompletion means an operation whereby a completion in one zone is abandoned in order to attempt a completion in a different zone within the existing well bore. It is thus the process of producing from another interval within the same wellbore. For example, after depleting a zone at 9,000 feet, the operator may “recomplete” the well at 8,000 feet
An Industry Recommended Practice is a set of best practices and guidelines compiled by knowledgeable and experienced industry and government personnel intended to provide the operator or user with advice regarding the topic considered. IRPs are NOT a regulation. In the case of an inconsistency or conflict with any applicable legislative requirement, the legislative requirement prevails. The petroleum and petrochemical industry along with many safety organizations have addressed specific hazards in oil and gas well drilling, and servicing operations by developing a number of publications, recommended practices and guidelines that specifically address safe work practices. There are a number of organizations that provide specific standards for the petroleum industry, such as API, or the Association of Energy Service Companies (AESC), or the International Association of Drilling Contractors (IADC).
The process of converting lands disturbed by oil and gas activities to other productive land uses, involving reshaping areas to a stable configuration, establishment of drainage systems, placement of topsoil or plant growth and revegetation through planting or seeding
Sorry, this entry is only available in עברית.
In the energy industry, this refers to the equal market access that all players must have in a competitive market
In accordance with the Tenders Law, the provision of goods to any Israeli government related company requires an undertaking to implement an Industrial Cooperation program. The volume of Industrial Cooperation must be at least 35 percent of the value of the supply contract. In cases where foreign governments require Israeli defense suppliers to offset higher levels, Israel may also require companies from such countries to engage in higher levels of Industrial Cooperation.
