Generally when royalty interests are being bought, sold and held by the funds sponsors. In a royalty fund the objective of the fund is to generate it’s revenue from royalties that are held from different producing fields throughout the country. The main feature to owning a percentage of a royalty fund is that with an …
Subsidiary of the Italian energy corporation ENI. Saipem is one of the world’s largest turnkey contractors in the oil and gas industry dealing in onshore, offshore and drilling activities, whilst attempting to provide EPC/EPIC solutions for the most technically challenging projects, such as activities in remote areas, deepwater, gas, difficult oil
Underground salt formations offer an option for natural gas storage. These formations are well suited to natural gas storage in that salt caverns, once formed, allow little injected natural gas to escape from the formation unless specifically extracted. The walls of a salt cavern also have the structural strength of steel, which makes it very …
A type of geological structure where a rock layer has pushed up into the rock layer above in a typically spherical shape. Domes are often good oil or gas traps A domical arch (anticline) of sedimentary rock beneath the earth’s surface in which the layers bend downward in opposite directions from the crest and that …
Continue reading “Dome; Salt dome; Salt dome trap; Salt diapir”
Demand for energy is usual seasonal, depending very much on weather conditions. In Israel for instance, demand for electricity is seasonal. The highest levels of demand are in summer (due to the use of air conditioners) and in winter (due to the use of heaters) compared to transitional seasons. Not only is average demand higher …
Continue reading “Seasonality, seasonal demand; Seasonal variations consumption (gas, electricity)”
Secondary target refers to other possible reservoirs that may be above or below the primary target, which are usually thought to be not as attractive for various reasons as the primary target, possibly because they are thinner, of variable quality, are of low poroperm qualities, etc. Primary target usually refers to the most important reservoir …
The disclosure of an O&G company’s reserves should provide a better reflection of the underlying value of the company than its balance sheet. The balance sheet records the historical costs associated with drilling for, development of or acquisition of oil, and not the value of the oil and gas interests. The reserves disclosure, while not …
Continue reading “Reserves disclosure; Oil and gas reserves disclosure; Reserves book”
O&G companies are required to keep a report of their oil and gas reserves, mostly focusing on the proven reserves (see proven reserves). The reserve report is for both internal company purposes as well as for the financial world, owners of contiguous territory and the general public. A key problem in structuring information about reserves …
A subsurface, porous, permeable or naturally fractured rock body in which oil or gas are stored. Most reservoir rocks are limestones, dolomites, sandstones, or a combination of these. An oil reservoir generally contains three fluids – gas, oil, and water – with oil the dominant product. In the typical oil reservoir, these fluids become vertically …
A representation of a reservoir that incorporates all data pertinent to its ability to store and produce oil and gas. Geoscientists and engineers use reservoir modeling to simulate the movement of the oil and gas under various circumstances to ultimately determine optimal production techniques for the reservoir. The ultimate aim of reservoir modeling is to …
