Category: Oil and Gas business

These stations consist of pipeline block valves at 15 to 20 miles along the pipeline (to isolate the pipeline in case of accidents) and a secondary pipe system (bypass) designed to balance pressures when reopening the valve

A competitive process normally held by the licensing authority (government) to promote unlicensed acreage in order to carry out exploration activities. Companies are charged to competitively apply for this acreage by a certain closing date

Term that usually refers to petroleum (sometimes to coal)

To reach the objective depth in drilling a well

A geographical area that includes several separate oil and gas license tracts

Brent Crude is one of the major classifications of oil. Brent Crude is sourced from the North Sea. Technically, it is a mix of crude from the UK Brent field and the Ninian field. The term Brent is the initials of 5 production layers: Broom, Rannoch, Elieve, Ness and Tarbat

The ability to pump crude oil in both directions

Drilling