Category: Oil and Gas business

This is the volume of gas in the reservoir above the level of base gas.

Wet scrubbers are the most widespread method to remove sulfur dioxide in the flue gas desulfursation system and can be up to 99% effective. A mixture of limestone and water is sprayed over the flue gas and this mixture reacts with the SO² to form gypsum (a calcium sulphate), which is removed and used in the construction industry. See also flue gas desulfurization system

An interest created by the execution of an oil and gas lease

The quantity of water, coal, gold or other resource that can be produced from a deposit.

Field discovered in Australia in 2004 by Chevron (100% interest) with estimated reserves of 5-10 trillion cubic feet (142-283 billion cubic meters). Wheatstone-2 appraisal well was drilled end 2007. Chevron has said they intend developing the field as a 100% liquefaction field producing 5 mtpa of LNG

A percentage of ownership in an oil and gas lease granting its owner the right to explore, drill and produce oil and gas from a the lease area. Working interest owners are obligated to pay a corresponding percentage of the cost of leasing, drilling, producing and operating a well. After royalties are paid, the working interest also entitles its owner to share in production revenues with other working interest owners, based on the percentage of working interest owned

Point in a stretch test for any material beyond which the material being tested does not return to its original shape. Yield point for a pipeline is the stress level above which the pipe will yield/bend/stretch. Pipelines may bend or stretch or otherwise yield when they reach a certain stress level. The yield strength is that stress point. >

An appraisal well drilled with minimum preliminary information about the underlying structure and conditions; it usually follows a wildcat well that reported shows of oil or gas

Usually involve using a workover rig to restore or stimulate production on a well. Workover operations could be necessary for instance if sand has clogged the tubing end of an open hole completion, thus reducing or cutting off the flow of fluid

Russian Oil Company which was controlled by Russian billionaire Mikhail Khodorkovsky who was later imprisoned and sent to Siberia. In August 2006 Yukos was declared bankrupt