Category: Oil and Gas business

Noble Drilling’s Homer Ferrington, Transocean’s Sedco Express, and Pride’s ENSCO 5006

Flows against price difference is when gas is exported from a country at a lower price than it is imported

The variable capacity of a pipeline system in excess of firm capacity. Interruptible (as available) capacity may vary from day to day depending on operating conditions, such as pressures, temperatures, equipment..

Refers to a 24 hour period other than a calendar day. The start time, when different to midnight, will be chosen for operational reasons. In many countries the gas day runs from 06:00 to 05:59 on the next calendar day.

06:00 was chosen in the UK as it falls at the end of the low demand night period and before the beginning of the morning peak. It also means that it is relatively easy to balance the day’s volumes during the quiet nighttime period.

Gas traded and delivered at a constant flow rate throughout the delivery period. It is a trading term used in the British NBP 97 contract in which no interruption or volume tolerance is permitted

Tier response level of the NCP

Denobes sea beds and subsoils of underwater regions adjacent to the coat but beyond the limit of the territorial water up to a depth of 200 m or beyond this limit where the depth of water is suitable for extraction of natural resources.

The coastal state has sovereign rights over the continental shelf for the purpose of prospecting it and exploiting its natural resources.