Month: July 2009

A device used in seismic acquisition that detects ground velocity produced by seismic waves and transforms the motion in electrical impulses

Large-scale geological structures that might hold oil or gas reservoirs are invariably located beneath non-productive rocks, and in addition this is often below the sea. Geophysical methods can penetrate them to produce a picture of the pattern of the hidden rocks. Relatively inexpensive gravity and geomagnetic surveys can identify potentially oil-bearing sedimentary basins, but costly seismic surveys are essential to discover oil and gas bearing structures

The study of the materials, processes, environments, and history of the earth, including rocks and their formation and structure

Concept that there is still a lot of interesting oil to be developed from the geological point of view around the world but that many areas are – geopolitically – closed to international oil companies, so that in fact they are not running out of oil but running out of places to drill

Agreement to be signed between a shipper (company that has purchased certain quantities of natural gas) and the transmission system (in Israel INGL) to transport the shipper’s gas on the terms and conditions set out in the agreement

Gazprom, largest natural gas company in the world, intends entering the LNG field, in which it has hitherto not been involved until 2009. Gazprom’s goal is to produce 90 million tons of LNG by 2030 or 25% of world production by that date. Gazprom intends investing 65 billion dollars by this date. It is believed that most of the supplies for its LNG projects will be sourced from two fields in which Gazprom is a partner with other international companies: Shtokman and Sakhalin-2. Russia’s move to control 25% of the world’s LNG market by 2025 is fuelled by the Shtokmanovskoye and Sakhalin-2 LNG projects, as total output is earmarked to reach 49.9-73.3 million tons per year. Russia’s first LNG plant was completed in October 2008. In February 2009 Russia opened its first LNG plant to supply LNG to Asia and the West Coast of the US. The LNG plant is part of the Sakhalin II development >