05.07.2009
Means quantities of petroleum sufficient to permit production thereof on a commercial basis (according to Petroleum Law)
The date upon which the generation licensee starts feeding energy to the grid
In Egypt a commercial gas well is one that is defined as capable of flowing at 30,000,000 scfd (30 million standard cubic feet of gas per day) (does not have to flow). If EGPC agree flow rate, developer can declare Commercial Discovery within 30 months.
An oil or gas field which is deemed can be produced commercially, namely that the hydrocarbons can be produced and brought to market at a price which will make the project commercially interesting.
A commercial well according to the Israeli MNI is defined as a well in which the total investment required to produce the energy is lower than the value of the oil or gas that can be actually sold.
There are 3 main standard groups of consumers for commercial energy: commercial, industrial and residential. This type is a non industrial business consumer of energy, such as a shopping mall
An exploration project is commercial if the degree of commitment is such that the accumulation is expected to be developed and placed on production within a reasonable time frame. A reasonable time frame for the initiation of development depends on the specific circumstances but, in general, should be limited to around 5 years.