05.07.2009

This term refers to the net amount at which an asset (reserves of oil and gas in this case) is carried on the books of account. Under SEC rules oil and gas companies are only allowed to book reserves from oil and gas finds that are considered readily available or from conventional sources. In addition, they are required to report their reserves on the basis of the price of oil and gas that they are selling or plan to sell as of the last day of the year for which they are reporting. US companies cannot book reserves until they have demonstrated that the reserves are marketable. Many international companies have more latitude

Capacity bought by a shipper

On 19th May 2005 Bolivia enacted a new hydrocarbon law covering gas exports, hydrocarbon taxes and the management of the hydrocarbon sector. On 1st May 2006, the government issued a nationalization supreme decree which provides that ownership of the production at the wellhead reverts to the state, mandated a renegotiation of concession contracts within 180 days, created a new non creditable 31% royalty type tax on wellhead production and provided for increased state control over the sector

A common type of light water reactor (LWR), where water is allowed to boil in the core thus generating steam directly in the reactor vessel.

The pipeline consists of three main parts. The route comprises a 222 mile section in Russia from Izobilnoye to Dzhugba on the Black Sea Coast (the Russian onshore section) a 235 mile section on the bottom of the Black Sea connecting Dzhugba to Samsun on the Turkish coast (submarine section) and a further 300 mile link from Samsun to Ankara (Turkish onshore section). The pipelines consist of a pair of 24 inch OD steel lines with a wall thickness of 31.8 mm. The shallow water sections in waters of up to 380 m were installed by the Castoro Otto. The deep water sections of up to 2,150m were installed using the J-lay method by the crane vessel Saipem. In October 2002, construction on the pipeline was completed and natural gas supplies through the Blue Stream began in February 2003. The flow of natural gas will gradually reach 16 billion m³ in accordance with Natural Gas Purchase Sale Agreement.