Category: Oil and Gas business

The string of casing set in a well after the surface casing in order to keep the hole from caving

Gas that is produced and sold in the same country in which it is produced

A well that is used to force a fluid into the ground. The injection could be done for disposal or to place the fluid (such as natural gas) into a subsurface reservoir.

Intrastate pipelines transport natural gas within a particular state of the US, or a particular country

The theory maintains that oil and gas were produced during the formation of the solar system and the earth. The inorganic theory is often used to explain why oil and gas are found in unexpected places and places with differences in chemical composition

IOCs today only control 6% of oil and 20% of gas reserves and 24% of oil and 35% of gas production, while the rest is in the hands of NOCs (National Oil Companies).

In the 1970s, international oil companies controlled nearly 75% of global oil reserves and 80% of oil production. As late as the 1970s, Western corporations controlled well over 50% of the world’s oil production. By 2008, the major 7 supermajor companies ExxonMobil, BP, Royal Dutch Shell, Chevron, Total, Conoco-Phillips and Eni produce just 13% whilst the 10 largest holders of petroleum reserves are state-owned companies such as Russia’s Gazprom or Iran’s national oil company. The international companies control less than 10% of global reserves. This has serious consequences since the international companies are far more competent at investing in, discovering and extracting petroleum than the national companies are since the former have more advanced exploration techniques and financial resources

The portion of formation surrounding a well bore into which drilling fluid has penetrated. displacing some of the formation fluids. This invasion takes place in porous, permeable zones when the pressure of the mud is greater than that of the formation fluids.

A 40 inch diameter 238 km gas pipeline providing a strategic link between the UK and continental Europe, connecting the two gas transmission systems at Bacton in the UK and Zeebrugge in Belgium.

The Interconnector is bi-directional, such that the physical Flow Direction can either be from Bacton to Zeebrugge (Forward Flow) or from Zeebrugge to Bacton (Reverse Flow).

It has a capacity of 20 bcma in forward flow (GB to Belgium)and 25.5 bcm in reverse flow (B to GB).

The Third Package defines an interconnector as a transmission line which crosses or spans a border between member states for the sole purpose of connecting the national transmission systems of those member states.