Author: bomuo

Those quantities of petroleum which are estimated, on a given date, to be potentially recoverable from known accumulations but which are not considered to be commercially recoverable due to one or more contingencies which may include factors such as economic, legal, environmental, political, commercial, regulatory matters or a lack of markets. It is also appropriate to classify as contingent resources the estimated discovered recoverable quantities associated with a project in the early evaluation stage. Contingent resources are further classified in accordance with the level of certainty associated with the estimates and may be subclassified based on project maturity and/or characterized by their economic status

Development and production of recoverable quantities of hydrocarbons has not been justified, due to conditions that may or may not be fulfilled.

The portion of the sea bottom that slopes gradually from the edge of a continent. Usually defined as areas where water is less than 200 meters deep

A collective term referring to the continental shelf and continental slope

Under the United Nations Convention of the Sea, in a zone contiguous to its territorial sea, described as the contiguous zone, the coastal State may exercise the control necessary to: (a) prevent infringement of its customs, fiscal, immigration or sanitary laws and regulations within its territory or territorial sea; (b) punish infringement of the above laws and regulations committed within its territory or territorial sea. The contiguous zone may not extend beyond 24 nautical miles from the baselines from which the breadth of the territorial sea is measured.

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