Category: Oil and Gas business

Formations that have already been tapped of all their recoverable natural gas and which leaves an underground formation, geologically capable of holding natural gas. Using an already developed reservoir for storage purposes allows the use of the extraction and distribution equipment left over from when the field was productive. Of the three types of underground storage, depleted reservoirs, on average, are the cheapest and easiest to develop, operate, and maintain. The factors that determine whether or not a depleted reservoir will make a suitable storage facility are both geographic and geologic. Geographically, depleted reservoirs must be relatively close to consuming regions. They must also be close to transportation infrastructure. Geologically, depleted reservoir formations must have high permeability and porosity. The porosity of the formation determines the amount of natural gas that it may hold, while its permeability determines the rate at which natural gas flows through the formation, which in turn determines the rate of injection and withdrawal of working gas. In order to maintain pressure in depleted reservoirs, about 30-50 percent of the natural gas in the original formation must be kept as cushion gas.

There are no current plans to develop the field or to acquire additional data at this time

Norwegian offshore classification for the oil and gas business that provides technical provisions and acceptance criteria for general use by the offshore industry with codes offered in the following areas: Qualification, Quality and Safety Methodology; Materials Technology; Structures; Systems; Special Facilities; Pipelines and Risers; Asset Operation; Marine Operations; Subsea Systems. And Wind Turbines.

Det Norske Veritas offshore standard DNV-OS-F101 which deals with standards for offshore pipelines also covers shore crossings

Typically defined as the flange connecting the loading line of an LNG tanker with the LNG metering equipment at the seller’s facility (in an FOB contract), or at the buyer’s facility (in a delivered, or ex-ship, contract)

Vessel in a gas processing plant that extracts propane from rich natural gas.

Point where the gas is delivered by the seller to the buyer. Important to ascertain these points as any expenses beyond delivery point are to be paid by the buyer. For instance, the Delivery Point shall be the outlet flange of the Terminal at the point where the Terminal connects to the INGL system

The method of estimation of reserves or resources is called deterministic if a single best estimate is made based on known geological, engineering, and economic data

Resources that have been extracted, including resources that have been recovered, resources that have been lost and resources that have been reclassified as un-economic to produce

Requires further data acquisition and/or evaluation in order to confirm commerciality of the field