Category: Oil and Gas business

An interval or unit of rock differentiated from surrounding rocks on the basis of its fossil content or other features, such as faults or fractures

A slender, rodlike or threadlike piece of metal usually small in diameter, that is used for lowering special tools (such as logging tools, perforating guns, and so forth) into the well.

A $2.8 billion financing package to develop a two-train LNG plant with a guaranteed capacity of 6.7 million tons per year, plus associated pipelines, port and storage facilities. The scheme in Balhaf will be one of the largest in the world – not far behind the 7.8 million ton per year capacity of the latest generation of liquefaction plants in Qatar. The project’s total costs are estimated at $4 billion

A physical barrel of crude oil or refined product as opposed to a “paper barrel.”

Method of sealing one particular zone or a long horizontal well bore into several small sections, used for greater production control along the well length

WesternGeco, a business unit of Schlumberger, is the world’s leading geophysical services company, providing comprehensive worldwide reservoir imaging, monitoring, and development services, with the most extensive geophysical survey crews and data processing centers in the industry, as well as the world’s largest multiclient data library. Services range from 3D and 4D (time-lapse) seismic surveys to multicomponent and electromagnetic surveys, supplying clients with accurate measurements of subsurface geology

A general term used to refer to any type of log being run in a well

Part of the Med Tel Aviv license, 20 km northwest of the Tel Aviv coast. Total cost of drilling the well was $38 million. The well which was spudded in 1994 tested for 800 BOPD from middle Jurassic limestones

Oil that contains basic sediments and water

A type of crude oil (light sweet crude oil) produced in the Permian and Midland basin areas of west Texas. The term is commonly used as a price benchmark. WTI is the underlying commodity of the New York Mercantile Exchange’s oil futures contracts. The price paid for crude oil varies according to its quality