Category: Oil and Gas business

A large barge, capable of lifting heavy equipment onto offshore platforms

Sorry, this entry is only available in עברית.

The geological segmentation of once continuous reservoirs into isolated compartments. Reservoirs that have become compartmentalized require different approaches to interpretation and production than continuous reservoirs

Region of the outer edge of a continent between the generally shallow continental shelf and the deep ocean floor, usually demarcated by the 200-m (660-ft) isobaths (the line on a map or chart that connects all points having the same depth below the surface of a body of water).

Such as when the holder of a capacity in an LNG facility is not able to use it and/or has not released the capacity itself, it then becomes necessary for the LSO to make this capacity available to the rest of the market as firm capacity. Holders of unused capacity should also be encouraged to offer their capacity on the secondary market at a reasonable price. Congestion management procedures can include a host of requirements, such as the need to facilitate the development of competition and liquid trading of capacity. It has to be compatible with the functioning of the wider market, including spot markets and trading hubs, while being flexible and capable of adapting to evolving market circumstances. The procedures should not hamper the entry of new market participants nor create undue barriers to market entry. They should not prevent market participants, including new market entrants and companies with a small market share, from competing effectively. They preferably should not impose thresholds on the amount of booked capacity or long durations for the service contracts. In general the procedures should provide efficient and maximum use of capacity to foster investment in new infrastructure

Under the United Nations Convention of the Sea, in a zone contiguous to its territorial sea, described as the contiguous zone, the coastal State may exercise the control necessary to: (a) prevent infringement of its customs, fiscal, immigration or sanitary laws and regulations within its territory or territorial sea; (b) punish infringement of the above laws and regulations committed within its territory or territorial sea. The contiguous zone may not extend beyond 24 nautical miles from the baselines from which the breadth of the territorial sea is measured.

To finish work on a well and bring it to productive status

The area on land or in the sea over which the concession has been granted