Category: Oil and Gas business

Geological characteristics that describe principle properties of and necessary conditions for the occurrence of oil and/or gas accumulations of the minimum size within the defined parameters of a play.

A petroleum system is a cell which comprises a coherent package of mature source rocks and any existing and/or former primary hydrocarbon accumulations generated there from. The Basin database describes the space/time relationship of the stratigraphic elements essential to the generation and entrapment of these accumulations (such as source rocks, carrier beds, reservoir rocks, seals and over burden) and the attendant geological processes of trap formation, migration, accumulation and preservation

Lifting cradle for pipeline as it is being laid

Any object or device that blocks a hole or passageway (such as a cement plug in a borehole).

Term used mostly in the US for money paid to foreign entities for the purchase of fuel. Alternatively, it is the money earned by oil exporting countries. The Arab world is often regarded by the West as mis-using its Petrodollars by spending them on extravagant construction, arms, and luxuries and in investments in the US, Europe and the Far East rather than in infrastructure in their own lands.

Using sources of energy, such as natural gas from storage, to supplement the normal amounts delivered to customers during peak-use periods. Using these supplemental sources prevents pipelines from having to expand their delivery facilities just to accommodate short periods of extremely high demand