Seismic survey undertaken ‘down hole’ in connection with well operations (typically with a source size of 500 cubic inches)
A broader category of resources than for example global proved oil reserves.
This category aims to measure those resources that could be extracted using today’s technology. In 2017, this category is estimated to be around 2.6 trillion barrels
The narrowest category of resources.
Occurs when shippers or pipeline operators book capacity on grids solely to prevent competitors from obtaining access.
The EU’s binding rules for congestion management procedures (CMPs) require companies to make use of their reserved capacity or risk losing it.
“12.0.6” Indicates that the price of gas is indexed to the average price of an assortment of oil products over the previous 12 months, that there is an interval of 0 months between the end of the 12 month period and the introduction of its average price into the formula and that the price obtained through this formula will be applied to the gas contract for the next 6 months.
So “3.3.1” means that the price is indexed to the average price of oil over previous 3 months and that there is an interval of 3 months between the end of the 3 months period and the introduction of the average price into the formula and that the price obtained through this formula will be applied to the gas contract for the next month
