The term accumulation is used to identify an individual body of moveable petroleum. The key to consider an accumulation as known and hence containing reserves is that each accumulation / reservoir must have been penetrated by a well that must have clearly demonstrated the existence of moveable petroleum. Alternatively, where log and/or core data exist, this may suffice as long as there is a good analogy to a nearby and geologically comparable known accumulation
Used in international crude oil trade. Can transport between 80,000 – 160,000 tons of crude oil
A long square or hexagonal steel bar with a hole drilled through the middle for a fluid path. The kelly is used to transmit rotary motion from the rotary table or kelly bushing to the drillstring, while allowing the drillstring to be lowered or raised during rotation
A mobile bottom-supported offshore drilling structure with columnar or open-truss legs that support the deck and hull. When positioned over the drilling site, the bottoms of the legs rest on the seafloor. A jackup rig is towed or propelled to a location with its legs up. Once the legs are firmly positioned on the bottom, the deck and hull height are adjusted and leveled
The coastal plain of Israel is characterized by development of Pleistocene and Holocene sand dune fields and aeolianite ridges locally termed “kurkar” running parallel to the coast line. Kurkar ridges are built of several sedimentary cycles, which are intercalated by red sandy loam soils locally termed “hamra” (Arabic word for “red”). These kurkar ridges are designated to represent typical longitudinal sand dunes formed synchronously parallel to the coastline by dominant wind direction perpendicular to the coast. Archaeological and geological studies of sections along the Haifa-Tel-Aviv highway indicate that the upper part of exposed Quaternary sediments in the Carmel coastal plain contain two major kurkar units
Oil companies generally participate in oil and gas projects through their equity share in a joint venture, usually unincorporated. The relationship between the companies is governed by a joint venture agreement
South Korea’s state-run Korea Gas Corp is also the world’s biggest importer of LNG. South Korea is the world’s second largest importer of LNG after Japan
A mechanical device used downhole to deliver an impact load to another downhole component, especially when that component is stuck
Lapidoth Israel Oil Prospectors Corp. Ltd. is the forerunner of onshore oil prospectors in Israel. The company was incorporated in 1959 and privatized several years ago. Currently, its securities are being traded in the Tel Aviv Stock Exchange.
Lapidoth has specialized in the design and operations of onshore oil or gas drilling and production activities for more than five decades. These activities include the provision of all auxiliary services related to exploration and production. Since its inception the company has drilled over four hundred onshore wells of various depths in Israel and worldwide. It has also discovered and developed the Israeli Heletz Oil Field (from which more than 17 million oil barrels were produced to date). Over the years, Lapidoth has expanded its scope of activities to include drilling of water wells, monitoring production, research drilling and soil sampling. Furthermore, the company is currently the controlling holder of Lapidoth-Heletz Limited Partnership. This Limited Partnership was incorporated in 2004 for the purpose of executing oil and gas explorations in Israel and is also listed in the Tel Aviv Stock Exchange.
Lapidoth considers itself a “one stop shop” that provides all major services that may be required by operators, including drilling, logging, cementing, production, petrophysics, reservoir engineering, logistics, research drilling and soil sampling. All these services are available as a “package deal” or on a “stand alone” basis.
In additions to its “traditional” operations, Lapidoth uses its positive cash flow to execute various financial transactions.
Yaakov Luxembourg who holds 79.8% of Lapidoth Heletz and is one of Israel’s most veteran players in the gas exploration sector
Partners in Benjamin South or Oz
Lapidoth: 41.5%
Frendum Investment Ltd. 31.5% (פרמדום)
Coleridge Gas &Oil Israel Ltd. Partnership 12% (קולרידג’)
Placida Investment Ltd. (פלסיגה)
Caspian Drilling Company as the operator 5%
