Category: Oil and Gas business

Reserves of oil and gas that are subcategorized as non-producing include shut-in and behind-pipe reserves. 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 due to market conditions or pipeline connection conditions, or (3) wells not capable of production for mechanical reasons. Behind-pipe reserves are expected to be recovered from zones in existing wells, which will require additional completion work or future re-completion prior to the start of production

Area in south-eastern Africa, or southern Egypt along the Nile. This sandstone complex ranging from Cambrian to Upper Cretaceous in age is a strata of major hydrogeological interest.

An oil or gas field which is deemed cannot be produced commercially because although it may contain hydrocarbons these cannot be produced and marketed to the market at a commercial viable price. A well that cannot be produced and marketed economically, because the cost of development is too high, the price that the hydrocarbons can fetch in the market place is too low, etc

A natural gas processing equipment that adds a mercaptan sulfur odor to all natural gas as a safety measure, allowing detection if a leak occurs. Unprocessed natural gas is usually odorless.

A class of polluting emissions produced by the consumption of fossil fuels, especially by automobiles and coal-fired generating stations. Nitrogen oxides are converted to acids, usually highly corrosive nitric acid, when exposed to water molecules in the atmosphere, and this eventually falls to earth as acid rain

One of the US leading independent energy companies engaged in the exploration, development, production, and marketing of crude oil and natural gas. Noble is the US partner within the Yam Tethys consortium that is the operator of the Mari field and of Tamar offshore Israel. Noble: established in 1932, Traded on the NYSE, number of employees 1,400, market worth $8 billion, debts of $6.-2 billion, owners’ equity $4.8 billion, income $3.6 billion, net profit $943.9 million.

Noble used to be called Samedan (after the two brothers Sam and Ed Noble).

Parties with small percentage interests in a JOA will not want to be voted into activities which they may not support or not be able to fund, whereas parties with significant interests in the block may not want to be prevented from developing the asset because they cannot pass the voting hurdle. There are thus two methods by which parties can protect their interests further: non consent and sole risk. Parties can non-consent only after a proposal has been passed whereas a proposal giving rise to sole risk will not have received passmark approval. Non consent clauses are not always part of a JOA agreement whereas sole risk provisions are fairly universally accepted. They recognize that a proposal (drilling, appraisal or development) may be considered worthwhile by some parties but may not meet the majority passmark hurdle. To allow the parties to proceed to develop their asset they may do so at their sole risk. It is thus normal when a well is drilled that if some partners want to continue possibly to a deeper layer but some don’t, then those that wish to continue “sole risk” those that don’t and they pay for the extra costs. If the deepening of the well then finds oil or gas, those that opted out usually have the option to come back in, as long as they pay a very hefty premium for doing so (i.e. 2-5 times the extra drilling costs)

Notices regarding ship-wrecks, submarine gas pipelines, traffic corridors, etc.