03.08.2009
The distance along the path of the wellbore from a measured depth datum (e.g. the drilling rig floor) to a point in the well.
Such as the chance of success of discovering oil or gas in an exploration drilling
British Gas owner Centrica plans to spend around £1.2bn converting the Baird gas field in the southern North Sea into the UK’s second largest gas storage facility. It is expected that the project will commence commercial operations in 2013.
The Department of Energy and Climate Change (DECC) issued its first ever gas storage licence to the Gateway project in the east Irish Sea. The 600 million pound ($941.5 million) Gateway storage facility is expected to boost gas storage by 1.5 bcm and increase Britain’s overall capacity by around 30%. The project involves creating 20 new salt caverns under the sea to store the gas, and would connect the storage facility to the existing Barrow gas terminal in northwest England via pipeline.Concerns about Britain’s gas storage were raised after record demand and problems with Norwegian gas flow in January caused energy network operator National Grid to issue system balancing alerts, despite reassurances that there was more than enough supply. Britain has less gas storage capacity compared to other major European countries, due to its role as a gas producer, but as North Sea output declines the country is becoming reliant on imports, causing concerns about energy security.
A technique applied to drillstem testing. Closed chamber testing provides data security and secrecy (minimal or no flare), and can measure minute quantities with high accuracy
In GSA negotiations, the base price defines what price the escalation is applied to and the actual or effective price may be above or below that base price depending on how the escalation factors move. A floor price is a level below which the price will not be allowed to go regardless of whether escalation would normally have taken it below that floor level. So normally, in GSA negotiations, sellers want a ‘floor price’ while buyers want a ‘ceiling price’ i.e. one that cannot be exceeded
This is still an untried process of liquefying CBM. Australia is especially keen to be able to turn CBM into LNG to ship out to Pacific and Atlantic Basin markets. The first world CBM-to-LNG plant is due to be built by Gladstone LNG in Queensland. Extracting the gas from the coal bed is relatively straightforward. The biggest problem is that the gas is often accompanied by large amounts of water that have to be disposed of. Also, although the gas wells are relatively cheap to drill, they produce gas at very low volumes. A large development requires thousands of wells. The slow rate of output from coal-bed methane wells creates a potential problem for converting the gas to LNG, because an LNG “train”, as the liquefaction facilities are known, requires a steady throughput of gas to keep it running, and economies of scale mean the most cost-effective trains have to process very high volumes.
In 2008 the average cost of oil was $99.57 a barrel. The world was then consuming some 88mm barrels of crude a day, that amounted to a total annualized cost of $3,200bn. By mid 2009, the average price of crude oil had fallen to about $50 a barrel. Just this item represented an annualized saving of $1,600bn. The table below shows the Annual Average Crude Oil Price from 1946 to 2008. Prices are adjusted for inflation to November 2008 prices using the Consumer Price Index. The average price for Brent oil per barrel for 2009 was $60.94.
A thermal cracking process to break up large molecules into smaller ones with the generation of quantities of petroleum coke.
Expressed in pounds per square inch, this is the internal pressure exerted that will cause a pipe to fail
As water depth increases, the external pressure on subsea pipe increases. Subsea pipe for deepwater and ultra-deepwater applications must have a high circumferential compressive yield strength to avoid collapse