In the offshore oil industry, floating structures are used in areas where deep water results in the cost of a jacket fixed to the sea floor being too expensive to realize a sufficient economic return, even for large oil reserves. Such floating structures have been semi-submersibles, a column stabilized vessel that is moored in place …
Estimation as to the potential to recover resources under economic conditions.
Those natural gas resources for which there are economic incentives for production; that is, the cost of extracting those resources is low enough to allow natural gas companies to generate an adequate financial return given current market conditions. However, it is important to note that economically unrecoverable resources may, at some time in the future, …
Economic producibility differs from commerciality in that economic producibility is less subjective in that it does not depend on a company’s net present value which can differ from company to company.
Vessel equipped with a heavy-lift crane, capable of holding a precise position through the use of thrusters, thereby counteracting the force of the wind, sea, current, etc.
That quantity of petroleum which is estimated, on a given date, to be contained in known accumulations, plus those quantities already produced therefrom. Discovered petroleum-initially-in-place can be subdivided into commercial and sub-commercial quantities (equivalent to discovered resources).
