The elapsed time for mud to circulate from the suction pit down the wellbore and back to the surface. The cycle time allows the mud engineer to catch “in” and “out” samples that accurately represent the same element of mud in a circulating system
Oil and gas industry has often been termed a cyclical business in that when prices of oil and gas are low, petroleum companies cut their exploration spending thus setting the stage for a new price hike as supplies lag again behind demand. Indeed over the last century O&G production companies have tended to underinvest in …
Continue reading “Cyclicity; periodicity, cyclical business”
Scheme by which fuel is transferred between a number of parties, usually to circumvent regulations or evade payment of taxes on the sale of fuels
The area surrounding the wellbore that has been harmed by the drilling process, generally due to mud or cement invasion. Near-wellbore damage can significantly affect productivity. A lightly damaged zone around the wellbore can be bypassed by perforation tunnels to create connection conduits from the wellbore to the undamaged reservoir formation.
Many services in the oil and gas industry are quoted on a daily rate, such as rigs. The day rate usually includes the rental of the rig, the personnel on board and basic supplies, but does not include such items as mob/demob, capital goods such as casings or special services such as logging and cementing. …
Normally oil with no volatile components, often found in geological exposures. Oil at a sufficiently low pressure that it contains no dissolved gas or a relatively thick oil or residue that has lost its volatile components. >
Increasing production capacity of existing facilities through the modification of existing equipment to remove throughput restrictions. Debottlenecking generally increases capacity for a fraction of the cost of building new facilities
Policy according to which countries attempt to decrease their dependence on importing fuels from non friendly even hostile countries. This is partially achieved by attempting to increase indigenous reserves, enforcing energy conservation policies, striving to increase diversity of energy suppliers and supplies and other means.
An example of a DDCV is one used by Exxon Oil in the Gulf of Mexico and includes a cylindrical hull, buoyed with air-filled compartments in the upper portion of the hull and ballasted with seawater and fixed ballasts in the bottom compartments. On top of the steel hull, the DDCV production facilities are designed …
Deepwater drilling includes challenges of drilling in water depths of more than 1,000 meters and even reaching depths of 8,000 meters. Indeed new technologies could open access to previously unattainable oil across the globe. Challenges include drilling through and maintaining verticality through salt layers, maintaining good hole conditions in reactive shales and preventing fluid loss …
