This project involves the development of two offshore fields containing mostly gas with some condensate and considered among the largest in the world. at the end of 2007 Shell’s reserves figures suffered because of the effects of stripping out potential reserves from its Sakhalin-2 joint venture, in which it was forced into signing away a majority stake to Russia’s Gazprom
Related to the processes associated with the presence of significance thickness of rock salt within a sequence of rocks. This is due to the fact that salt is mechanically weak and flows like a fluid. Salt is also relatively incompressible. Because salt is weak, its tectonism is closely tied to regional deformation
Holders of unused firm transportation contracts can resell this capacity in the secondary transportation market. Buyers and sellers in this market may be almost any participant in the primary transportation market, though pipeline companies are excluded because of their market power. Secondary transportation market came into existence in the US in 1992 when the FERC introduced a capacity release program requiring interstate pipelines to allow holders of firm transportation contracts to release or sell any unused portion of their pipeline capacity to other network users. The UK introduced a similar program of pipeline capacity resale in 1996 under the Network Code of British Gas. The resale of transportation contracts presents efficient allocation of transportation capacity. As a result of short-term changes in supply and demand some pipeline users will not utilize all their contracted capacity, while others will lack capacity to ship their gas. In the absence of a secondary market holders of unused capacity cannot sell it to those who need it. In so far as LNG terminals are concerned, when capacities at an LNG terminal are fully subscribed to under long-term contracts on the primary market, then often a new secondary market regime is put into place allowing to facilitate terminalling capacity exchanges on the secondary market in a multi-shipper environment. Under such a secondary market regime, all shippers owning terminalling capacity should inform the terminal in advance (e.g. at least two months in advance) of any slots they do not intend to use.
A percentage of interest in the value of production from a field that is paid to the mineral rights owner (such as to the host government, landowner, mineral owner). The payment of royalties is in most cases entirely dependent upon the sale or use of the gas by the lessee.
In Israel the royalties are set at 12.5% to be paid to the state. Royalties as a matter of fact for natural gas such as for the Mari-B field totalled only 11.21% because the price is taken at the well-head and so one deducts the cost of the infrastructure to shore and the terminal
Royalties differ from taxes which are paid from the revenue, in that royalties are paid from the total value of production. A few agreements provide for the royalty to be taken only in kind by the royalty owner
A person who is following after and reporting on the oil and gas exploration activities of competitors
Such as a sales and purchasing agreement between a gas producer and a gas consumer
Steel pipe formed in a process without seems
An influx of formation water, usually salty and sometimes hard, into the mud in the wellbore. Saltwater flows contaminate freshwater or seawater muds, making it expensive, difficult and time-consuming to regain the mud properties.
Is often an attachment agreement to a JOA that sets out rights, obligations and procedures frequently used by companies in the international petroleum industry for non-operating parties to second persons with special expertise to the operator, and to charge the joint account for such secondment
