The World Petroleum Council’s (WPC) main purpose is to catalyze and facilitate dialogue amongst internal and external stakeholders aimed at seeking solutions to key technical, social, environmental and management challenges in global energy issues for the benefit of mankind. In doing so, the WPC will contribute towards sustainable growth. The World Petroleum Council was founded …
International freight index for tankers. A method of calculation of payment for the transport of oil by ships for a single or several consecutive voyages. Worldscale is a table giving the amount of USD per ton oil for a number of standard routes. The rates listed in the table, so called flat rates termed W100, …
From game theory where one side wins all and one side loses
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
Electric energy generated through the harnessing of wind. Harnessing the wind is highly dependent upon weather and location. Indeed, wind turbines generate electricity very irregularly, because the wind itself is inconsistent. Therefore wind turbine always need backup power from fossil fuels to keep the electricity grid in balance. Natural gas turbines are probably the best …
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.
Zion Oil & Gas, Inc. was founded by an American Christian evangelist John Brown in April 2000 for the purpose of exploring for oil and gas in Israel and reaching production levels that would help Israel become an energy independent country. Texan John Brown says he is on a divine mission to find oil in …
Pipelines include a great number of valves along their entire length. These valves work like gateways; they are usually open and allow natural gas to flow freely, or they can be used to stop gas flow along a certain section of pipe. There are many reasons why a pipeline may need to restrict gas flow …
Is where a single company owns, or has control over, the resources required for all stages of production, such as IEC that handles everything from power production to infrastructure to distribution to sales
Visualization of seismic surveys have been taken to a new level with the advent of virtual reality rooms, allowing 3D subsurface images to be displayed on large screens and to be viewed from almost any angle. Different development options, such as the impact of various drilling targets, can be simulated. Much of the benefit of …
