Category: Oil and Gas business

Energy consumed in the production of each unit of oil and gas

When exploratory wells find commercially viable natural gas or petroleum deposits, it is economical to build a permanent platform from which well completion, extraction, and production can occur. These large, permanent platforms are extremely expensive, however, and generally require large expected hydrocarbon deposits to be economical to construct. Some of the largest offshore platforms are located in the North Sea, where because of almost constant inclement weather, structures able to withstand high winds and large waves are necessary. A typical permanent platform in the North Sea must be able to withstand wind speeds of over 90 knots, and waves over 60 feet high. Correspondingly, these platforms are among the largest structures built by man. There are a number of different types of permanent offshore platforms, each useful for a particular depth range. Because of their size, most permanent offshore rigs are constructed near land, in pieces. As the components of the rig are completed, they are taken out to the drilling location. Sometimes construction or assembly can even take place as the rig is being transported to its intended destination.

Productive capacity is the maximum output you could achieve with your current production equipment when it is working for the maximum practical number of hours and with the maximum efficiency and minimum down and change over times

Opposed to the Open Access method, whereas the owner of a facility, such as an LNG facility has all the rights over the capacity in the facility. Such facilities are also constructed as independent facilities. Until a decade or so ago, most LNG facilities operated under the proprietary access method and only recently have many adopted some form or other of open access

A valve designed to open automatically to relieve pressure and keep it below a designated level.

Productive wells are producing wells and wells capable of production. A productive well is an exploratory or a development well that is not a dry well

Reserves subcategorized as producing are expected to be recovered from intervals which are open and producing at the time of the estimate. Improved recovery is considered to be producing only after the improved recovery project is in operation

When gas is allocated on a pro-rata basis in an LNG gasification facility, such as pro-rata to booked quantities, under the open access system