Category: Oil and Gas business

A hydrocarbon gas found in the earth along with natural gas and oil. Butane turns into a liquid when put under pressure. It is sold as bottled gas. It is used to run heaters, stoves and motors, and to help make petrochemicals

A record showing variations in wellbore diameter by depth, indicating undue enlargement due to caving in, washout, or other causes

Pressure recorded in the borehole at downhole conditions during a pressure buildup test

The Buzzard field is located in the Outer Moray Firth, central North Sea. The field’s total recoverable reserves are estimated at more than 550 million barrels of oil. The development required an investment of £1.491bn. The field was discovered in 2001.

A very heavy substance, left over after other fuels have been distilled from crude oil. It is used in power plants, ships and large heating installations. Bunkers are a ship’s fuels; usually heavy fuel oil but can also be gasoil. Has an API gravity about 10.5o

An agreement between a host government and a contractor under which the host pays the contractor an agreed price for all volumes of hydrocarbons produced by the contractor. Pricing mechanisms typically provide the contractor with an opportunity to recover investment at an agreed level of profit. These agreements may include financial incentives for more efficient, lower cost developments and production levels higher than the minimum level agreed. These agreements may give rights to oil volumes and generally carry a risk for the contractor. They may allow booking of reserves.

A lined wall around oil tanks designed to catch all oil that leaks from it.   It therefore should have the capacity to retain the volume of oil held within the oil tank and also be oil tight