05.07.2009

A type of geological structure where a rock layer has pushed up into the rock layer above in a typically spherical shape. Domes are often good oil or gas traps

A domical arch (anticline) of sedimentary rock beneath the earth’s surface in which the layers bend downward in opposite directions from the crest and that has a mass of rock salt as its core. Salt is a peculiar substance. If you put enough heat and pressure on it, the salt will slowly flow, much like a glacier that slowly but continually moves downhill. Unlike glaciers, salt which is buried kilometers below the surface of the Earth can move upward until it breaks through to the Earth’s surface, where it is then dissolved by ground- and rain-water. To get all the way to the Earth’s surface, salt has to push aside and break through many layers of rock in its path. This is what ultimately will create the oil trap. Hydrocarbons are commonly found around salt domes because of the abundance and variety of traps created by salt movement and the association with evaporite minerals that can provide excellent sealing capabilities

Seastar platforms are like miniature tension leg platforms. A lower hull is filled with water when drilling, which increases the stability of the platform against wind and water movement. In addition to this semisubmersible rig, however, Seastar platforms also incorporate the tension leg system employed in larger platforms. Tension legs are long, hollow tendons that extend from the seafloor to the floating platform. These legs are kept under constant tension, and do not allow for any up or down movement of the platform. However, their flexibility does allow for side-to-side motion, which allows the platform to withstand the force of the ocean and wind, without breaking the legs off. Seastar platforms are typically used for smaller deep-water reservoirs, when it is not economical to build a larger platform. They can operate in water depths of up to 3,500 feet.

Generally when royalty interests are being bought, sold and held by the funds sponsors. In a royalty fund the objective of the fund is to generate it’s revenue from royalties that are held from different producing fields throughout the country. The main feature to owning a percentage of a royalty fund is that with an oil royalty the royalty owner (or interest owner) pays no percentage of operating or developmental costs associated with the production of the oil or gas. Royalty programs generally offer a low risk factor along with a relatively low return. However, their main feature is that these types of programs last for many years.

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The data entered on a run ticket is used to determine the volume of oil released from a storage tank or flowed through a meter

A type of receiver that can be positioned on the seafloor to acquire seismic data

A special well log that produces an estimate of the relative amounts of oil, gas, or salt water in a formation

Resulted from the Iran-Iraq war that reduced supplies from these two countries

Samples of rock that are broken down in the drilling process and rise to the surface with the drilling mud

Subsidiary of the Italian energy corporation ENI. Saipem is one of the world’s largest turnkey contractors in the oil and gas industry dealing in onshore, offshore and drilling activities, whilst attempting to provide EPC/EPIC solutions for the most technically challenging projects, such as activities in remote areas, deepwater, gas, difficult oil