05.07.2009

Functional unbundling is the separation of component parts of a previously unified product or service usually provided by a single party into distinct products or services each provided by different parties. In an unbundled market, consumers in the energy sector no longer have to buy transmission service, marketing and storage from the same supplier. A vertically integrated utility that has to undergo unbundling is often required to choose one component service in which it will specialize and restructure or divest itself of all parts of its business related to services in which it will not participate

Un-booked reserves / resources are defined by many O&G companies as the best estimate of recoverable hydrocarbons where commercial and/or technical maturity are such that project sanction is not expected within the next three years.

Un-booked resources, which changed its name by SEC in 2009 to discovered resources, are defined as the best estimate of recoverable hydrocarbons where commercial and/or technical maturity are such that project sanction is not expected within the next three years

That cannot be appealed in a court of law

That cannot be cancelled

Gas which is unaccounted for in a transmission system. Since meters are accurate to about 1% if one meter is located at the entry point and one at the exit point accuracy reaches up to 2%, but UAC gas is often less than this

Flexible connecting sheath, containing flexible pipes and cables. An assembly of hydraulic hoses which can also include electrical cables or optic fibers, used to control subsea structures from a platform or a vessel.

A new type of drilling rig, such as the one ordered by BP Exploration Alaska to drill in the Liberty field in the Beaufort Sea off Alaska, nearly 2 miles deep and with offsets as long as 8 miles. BP will own the land-based rig and will use it to drill as many as six extended-reach wells into Liberty field beginning in 2010. One of the design requirements of the rig was the ability to drill wells out to 8.3 miles (43,824 ft).