Category: Oil and Gas business

Agreement that defines how any gas production imbalance in the system will be balanced out between the parties to the agreement

Modeling flow in fractured reservoirs is difficult. The challenge requires a software solution that supports tight integration between the static and dynamic reservoir modeling disciplines and provides a way to visualize and analyze many data types that may be direct or indirect indicators of fractures

Drilling mud permeated with bubbles of gas from downhole. The circulation of such mud can be severely impaired, thus seriously affecting drilling operations

Established by Iran, Russia and Qatar in 2001

The gas that accumulates in the upper portions of a reservoir where the pressure, temperature and fluid characteristics are conducive to free gas. The energy provided by the expansion of the gas cap provides the primary drive mechanism for oil recovery in such circumstances

Injecting specially engineered fluids under high pressure into the channels of a low permeability reservoir to “crack” the reservoir and improve the flow of oil.

For instance if a pipeline has the maximum capacity to transmit 16 billion cubic meters of gas per annum, it would be transmitting this full amount when said to be “operating at full capacity”. The economic worthiness of constructing a pipeline could be calculated based on an assumption that it would generate a 10% real IRR over a 20-year project life under the assumption that it would operate at full capacity throughout the year.