Licensing may be generally described as the process by which the owner of natural resources (usually the State) authorises or permits a public or private entity to exploit the natural resources and to regulate the manner in which operations under the license are conducted. This highlights two key aspects of licensing – the grant of …
When a governmental body offers exploration acreage for leasing by exploration and production companies, typically in return for a licensing fee and an obligation to perform a set program. This program can include acquisition of seismic data or drilling a well. Exploration licenses are initially of limited duration (about 3-5 years) after which there might …
Continue reading “Licensing round; Blocks offered in licensing round”
Lifting agreement is usually a supplemental agreement to a JOA that sets out the rights, obligations and procedures for the lifting of liquid petroleum under the contract. Such a lifting agreement is often based on the AIPN Model Form Lifting Procedure.
Crude oil with a high API gravity, usually more than 40?
Refers to the density of crude oils and the products refined from them. Heavy crudes are more dense and have higher final boiling points than light crudes which have more asphalt. Products refined from heavy crudes include asphalt, lubricants, waxes, fuel oils. and light fuels (white products). Light crudes yield a higher proportion of light …
A common nuclear reactor cooled and usually moderated by ordinary water
The term usually applied to longer transient spikes, although correctly applies to transients of any length that are carried to a device by electrical power lines
The actual amount of gas in a pipeline or distribution system. The placing daily gas imbalance (unsold gas) into a cumulative imbalance for sale at a later time. As gas is transported along a pipeline, its pressure falls due to friction in the pipe, and also as gas is taken off at various points. To …
CNG is often confused with LNG. The similarity is that both are forms of natural gas that has been stored. The main difference is that CNG is stored and transported in compressed form, while LNG is stored and transported in liquefied form. CNG has a lower cost of production and storage compared to LNG as …
Continue reading “Liquefied natural gas versus compressed natural gas (LNG)”
The ancient Lisan Lake covered the entire Rift Valley from Lake Tiberias to approximately 80 kilometers south of the Dead Sea. About 15,000 years ago it dried up leaving behind what is known today as the Dead Sea
