Category: Oil and Gas business

Up to between 250-400 meters in so far as drilling is concerned is easy shallow waters

The study of seismic waves

Part of gas sales agreement (GSA) clause between gas supplier and gas consumer. For instance, if a gas Seller fails to deliver a proper nomination of Buyer, then the quantity not supplied which exceeds a (2%-5% – depending on how the sides manage their negotiations) daily operational tolerance will be considered shortfall gas and Sellers will supply an equal quantity of such shortfall gas in the following month at the shortfall price. The shortfall gas price should be at a discounted price (50%-90% discount rate depends on how the sides manage their negotiations) of the Contract Price.

Shut-in reserves are expected to be recovered from (1) completion intervals which are open at the time of the estimate, but which have not started producing, (2) wells which were shut-in for market conditions or pipeline connections or (3) wells not capable of production for mechanical reasons

Production well that is shut in for some reason, often because it is at the end of its economic life. A producing well that has been closed down temporarily for repair, clean out, workover, lack of market, etc.

Such as natural gas storage facility used for self consumption (which according to the Gas Law does not require a license), or an IPP generating electricity for the self consumption of its owners rather than for sale to the grid or to end consumers. Could also relate to the consumption required by the station itself within the process of generating electricity

A nonproducing well used for injecting liquid or gas into the reservoir for enhanced recovery. A well drilled, completed, or converted for the purpose of supporting production in an existing field. Wells of this class also are drilled or converted for the following specific purposes: gas injection (natural gas, propane, butane or fuel-gas); water injection; steam injection; air injection; salt water disposal; water supply for injection; observation; and injection for in-situ combustion.