Category: Oil and Gas business

Til-1 was spudded in November 1976 by OEL (Oil Exploration Investments Ltd), during the Israeli occupation of the Gaza Strip and Sinai, following the 1967 War. The well was drilled in 72m water depth, to a TD of 4,807mdbrt in the Jurassic and was plugged and abandoned as a dry hole in April 1977. No hydrocarbon shows were encountered, although a 20m thick Lower Pliocene Yafo Sandstone Member section was encountered.

Market where there is very little spare capacity between petroleum producing countries and global consumption

Regulations which stipulate that infrastructure established by a company is to be made available to other suppliers including competitors at a regulated fee. This is usually the case for transmission systems

Terminal access capacity contractually guaranteed by the terminal operator in keeping with the terminal’s technical characteristics, and the operating and integrity requirements of the facilities

A tool used to “see” beneath the earth’s surface. It involves sending acoustic vibrations into the ground and measuring the length of time it takes to rebound off the subsurface rocks back to the surface, or more precisely to record the amplitude of reflected energy from the sub-surface formations. High-tech supercomputers are used to process billions of data samples and generate a detailed, 3-D image of underground structures. Geophysicists interpret the data to make estimates as to the depth of the reservoir, its porosity, fluid content and other information valuable in determining where oil and gas deposits are most likely to be found

A formation with low permeability. Under SEC rules a formation defined as tight enjoys a higher market price