Russia’s largest independent oil company and the country’s second largest oil producer. LUKOIL engages in the exploration, production, refining, marketing, and distribution of oil and gas in Russia and internationally. It primarily produces crude oil and natural gas. The company’s exploration and production activities are primarily located in Russia, Azerbaijan, Kazakhstan, Uzbekistan, the Middle East, …
Most GSA contain a make-up provision. This allows a buyer’s ToP obligation to be averaged out over the life of the contract. Once a buyer has made a ToP payment, and if he has not taken all the sales gas, then these volumes will go into a make-up bank. If at some point, the buyer …
Impermeable stratum overlaying a reservoir which prevents the hydrocarbons contained in it from migrating to other rocks. (2) The interior of the Earth, like the other terrestrial planets, is chemically divided into layers. The layer above the core of the earth is the mantle. It begins about 10 km below the oceanic crust and about …
The Israeli securities rating company that provides credit ratings on both publicly issued and private long term bonds. Maalot rates structured finance securities and project finance of major Israeli infrastructure projects. In 1998 Maalot entered into an affiliation agreement with Standard & Poor which was finally implemented at the beginning of 2008 when Maalot changed …
Dry gas is a natural gas from wells that do not have a significant content of liquid hydrocarbons or water vapor. Dry gas can also be used to describe gas that has had all liquid removed by a treatment process.
A license must be obtained prior to drilling. A license confers upon the licensee: the right to explore for petroleum in the licensed area; the right to do exploration work outside the licensed area bearing on the petroleum prospects of the licensed area, to such extent and subject to such conditions as the Commissioner may …
A section of continental shelf area in a particular national sector bounded by latitude and longitude lines, generally at one-degree intervals; a license block is usually subdivided into smaller areas
License fee is a period payment set by law, according to which the exploration company pays to the licensing authority periodic payments to retain the license. The fee is usually set on a square kilometer basis
A stage in the allocation of offshore licenses in which a state places a number of specified areas in its sector on offer to oil companies at one time
A license to manage the electricity system in its production and transmission sectors, and including the continuous balance between electricity supply and demand, ensuring the survivability of the electricity production and transmission systems, the management of the transfer of energy from the power stations via the electricity grids to the sub-stations at the required level …
