Carbon sequestration is the term given to a suite of technologies that can remove CO2 from large point sources, such as power plants, oil refineries and industrial processes, or from the air itself. The CO2 can then be stored in geologic formations such as depleted oil and gas reservoirs, deep coal seams or saline reservoirs. …
All parts (reservoirs) and fluxes of carbon; usually thought of as a series of the four main reservoirs of carbon interconnected by pathways of exchange. The four reservoirs, regions of the Earth in which carbon behaves in a systematic manner, are the atmosphere, terrestrial biosphere (usually includes fresh water systems), oceans and sediments (includes fossil …
Oil recovery practices leave behind a large resource of “stranded oil”. Such stranded oil provides a substantial target for enhanced oil recovery technology. Emerging, advanced EOR technologies such as CO2 first tried in 1972 could double the incremental oil recovery. Until recently, most of the CO2 used for EOR has come from naturally-occurring reservoirs. But …
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Carbon tax is viewed as an alternative to the cap-and-trade system. One of the reasons is that cap-and-trade system involving plant-by plant-measurements is difficult to administer and can provide incentives for evasion. Under a cap-and-trade system, the government would set an overall limit on emissions and allocate permits to emitters. If one plant reduces its …
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Is the natural or human activity or mechanism that removes carbon dioxide from the atmosphere, such as the absorption of carbon dioxide by growing trees. The concept of carbon sinks is based on the natural ability of trees, other plants and the soil to soak up carbon dioxide and temporarily store the carbon in wood, …
A carried interest is an agreement under which one party (the carrying party) agrees to pay for a portion or all of the pre-production costs of another party (the carried party) on a license in which both own a portion of the working interest. This arises when the carried party is either unwilling to bear …
In a Gas Sales Agreement (GSA) if the buyer takes more than his TOP or ACQ amount of gas in any year (depending on what was agreed), he will then receive a credit for the overtake. This is aggregated with all overtake credits from previous years as a carry forward balance. Thereafter, if the buyer takes …
A clause in some long term contracts that allow a buyer that takes more than Take or Pay or ACQ (depending on what was agreed) amount in a single Contract Year to get a credit to set against future Take or Pay contract year obligations. Quantities are frequently restricted.
The ability of a circulating drilling fluid to transport rock fragments out of a wellbore. Carrying capacity is an essential function of a drilling fluid. Carrying capacity is determined principally by the annular velocity, hole angle and flow profile of the drilling fluid, but is also affected by mud density, cuttings size and pipe position …
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Steel pipe placed in an oil or gas well to prevent the wall of the hole from caving in, to prevent movement of fluids from one formation to another and to aid in well control. The large diameter pipe is lowered into an openhole and cemented in place. The well designer must design casing to …
