Category: Oil and Gas business

Means quantities of petroleum sufficient to permit production thereof on a commercial basis (according to Petroleum Law)

A device with an orifice installed in a line to restrict the flow of fluids. Surface chokes are part of the Christmas tree on a well and contain a choke nipple, or bean, with a small-diameter bore that serves to restrict the flow. Chokes are also used to control the rate of flow of the drilling mud out of the hole when the well is closed in with the blowout preventer and a kick is being circulated out of the hole

A well that is capable of producing, but is not producing at the time

The commercial marketing of an oil or gas discovery is complex and its success depends on a number of factors. There is also a huge difference between an onshore and an offshore discovery, since the offshore fields require considerably larger investments to bring to market. There is also a vast difference between an oil and a gas discovery since the commerciality of a gas discovery depends on the ability to find an attractive market for the gas, since gas contrary to oil is not a commodity which is sold at a similar price around the world. The commerciality of an oil discovery is also very much influenced by global prices and thus a discovery which may not be commercial when oil is $20 a barrel may become commercial when oil hits a price of $80 a barrel. Thus an oil or gas discovery which may not be commercial under certain market conditions may become a commercial discovery with changing market conditions, or vice versa

An enhanced oil recovery technique where carbon dioxide (CO2) is injected into the oil formation. CO2 acts as a solvent that releases the oil from porous rock and causes it to flow more freely to the well head, increasing recovery rates

A wellbore completed in two or more reservoir zones that are not in hydraulic communication in the reservoir

The recorder chart response to an analysis of a gas air mixture. A chromatogram records separated hydrocarbons in order of molecular size

Method of protecting pipelines against corrosion, especially offshore pipelines that require waterproof thermal insulation

Gas from two or more sources combined into one stream of gas