Category: Oil and Gas business

163 km in length between Port Said in the Mediterranean Sea and Suez in the Red Sea. It enables the maritime transfer (limited to ships of the Suez Max type) between Europe and Asia without having to circumvent Africa. From the 18,000 ships that have passed the Suez Canal approximately 3300 have been oil tankers (about 1.7 million barrels a day). In 2007, 358 LNG tankers crossed the Suez Canal transporting a total of 32,775 million tons of gas. The management of the Canal grants natural gas tankers from the Gulf States a 35% reduction and an additional reduction of 5% for quantities in excess of 500,000 tons and 10% for quantities up to 2 million tons and 15% for over 2 million tons of natural gas

Systems used in industry to monitor and control plant status and provide logging facilities. In the transmission and distribution of natural gas, the SCADA systems can assimilate gas flow control and measurement with other accounting, billing, and contract systems to provide a comprehensive measurement and control system for the transmission/distribution network. This allows accurate, timely information on the status of the network to ensure efficient and effective service at all times. >

Parties in a gas sales agreement (GSA) agree a minimum quantity of gas to be purchased for each year, the Take or Pay amount. If the buyer takes less than this amount, he will pay for the balance not taken. To arrive at the ToP amount: x% of the ACQ less underdeliveries by the seller; less quantities of gas that the buyer was unable to accept for reasons of FM, less accumulated carry-forward gas.

Take-or-pay contracts are a vestige of the early days of the gas industry when liquid spot markets didn’t exist and producers needed long-term deals with stable prices to underpin vast investments in new gas fields. The system has endured even as some markets, such as the U.K., have moved to spot gas market pricing. Some industry experts are now calling for a radical rethinking of the way gas contracts are priced, saying they should be linked to spot market prices for gas rather than oil products. Indeed, the oil-linked price and minimum-purchase commitments in long-term gas contracts may become increasingly unmanageable as buyers are forced to take volumes at much higher prices than their competitors.

Act of reinstating the surface to its previous state after having abandoned and plugged a well

Loose bodies of sediment that have been deposited or built up at the bottom of a low grade slope or against a barrier on that slope

Used in international crude oil trade. Can transport between 130,000 – 160,000 tons of crude oil

To reduce pressure in a wellbore by moving pipe, wireline tools or rubber-cupped seals up the wellbore. If the pressure is reduced sufficiently, reservoir fluids may flow into the wellbore and towards the surface. Swabbing is generally considered harmful in drilling operations, because it can lead to kicks and wellbore stability problems. In production operations, however, the term is used to describe how the flow of reservoir hydrocarbons is initiated in some completed wells.

Swabbing is an operation by which the heavier fluid column from the wellbore is manually withdrawn from the well. This has the effect of lowering the hydrostatic pressure in the well and allowing potentially lighter fluid (hydrocarbons) from the rock to be produced through natural flow.

Any gaseous substance introduced into or commingled with natural gas that increased the volume available for disposition. Such substances include, but are not limited to, propane-air, refinery gas, coke-oven gas, still gas, manufactured gas, biomass gas, or air or inerts added for Btu stabilization.

Synthetic fuels are a new generation of transportation fuels with near to zero content of sulfur and aromatics and represent a good economic alternative to over dependence on conventional fuels whilst decreasing emission of dangerous pollutants.