05.07.2009
Quantity of petroleum that can be produced in relation to the total amount in place. The percentage of oil or gas in place in a reservoir that ultimately can be withdrawn by primary and/or secondary techniques
Inside a refinery tower, the liquids and vapors separate into components or fractions according to their density and boiling point. The lightest fractions, including gasoline and liquid petroleum gas vaporize and rise to the top of the tower, where they condense back to liquids. Medium-weight liquids, including kerosene and diesel oil, stay in the middle. Heavier liquids, such as gas oils, separate lower down. The heaviest fractions with the highest boiling points, such as tar-like fractions called residue settle at the bottom.
Regressive systems are those fiscal systems where a higher proportion of the government share is taken early prior to project payout – the point where costs have been recovered. Regressive systems are characterized by fixed, upfront, or non profit sensitive, fiscal elements such as asset taxes, import duties, bonuses, and fixed royalties. As the combination of fiscal elements moves away from a regressive system and becomes more progressive, it indicates that the government share increases with profitability.
Occasionally, a hole is lost or junked and a second hole may be drilled from the surface in close proximity to the first. Footage drilled for the second hole is defined as “redrill footage.” Under these circumstances, the first hole is reported as a dry hole (exploratory or developmental) and the total footage is reported as dry hole footage. The second hole is reported as an oil well, gas well, or dry hole according to the result. The redrill footage is included in the appropriate classification of total footage, but is not reported as a separate classification
A remotely controlled block valve for the primary purpose of protecting segments of the line in the event of a catastrophic pipeline break.
A large plant composed of many different processing units that are used to convert crude oil into finished or refined products. These processes include heating, fractionating (fractional distillation), reforming, cracking, and hydrotreating.
The cost of re-drilling a plugged well that was potentially abandoned because it was a marginal well could be as much as or even more than drilling a new well
Rental fees for holding an exploration permit or license offshore Israel are: Preliminary permit: Guarantee against damages >Priority Right Fee: NIS 5.07/month per 1000 dunam >License Fee: NIS 61.25 /year per 1000 dunam >Leasehold Fee: NIS 920/ year per 1000 dunam >