For each phase of an upstream oil project, several different legal contracts are required, the exact mix of which depends on the project specifications, including the type of field, project participants and planned implementation work. Below is a brief overview of the most common trade agreements that have been found at each stage of a typical oil project upstream of the UKCS. Related financial agreements, necessary in connection with an upstream oil project, and asset acquisition and disposal agreements on the UKCS are not within the scope of this note. Learn with our oil and gas glossary the definitions of industry concepts such as acidifier, anti-money laundering, hydraulic fracturing and more. This is not a comprehensive glossary, but contains many words used in the industry and on this site and is made available to you for your convenience. ASSESSMENT – Activities that are not part of the initial operations that The Managing Venturer deems necessary to develop the well after drilling, testing and completion of the well. LOG – a systematic recording of data, such as . B, the drill stump, the mud protocol, the electrical well protocol or the radioactivity protocol. Many different trunks are mined in wells to obtain different properties from pothole formations. The tie-in system (BBRTS) powered by Big Brother ROV is a combined power and assembly tool capable of handling flexible and rigid horizontal pipes of 14 to 28 inches. The tool has the same technical capabilities as the smaller RTS. TIE-IN — the action of connecting one pipeline to another or other equipment. The pipeline link often describes the link itself.
Also known as Tie-Back. RECOVERY – the proportion of hydrocarbons that can or have been produced from a well, reservoir or field. PERCENTAGE ALLOWANCE DEPLETION – a legal allowance granted by the federal state and the federal states on taxable income from oil and gas. TOTAL DEPTH – the depth of the bottom of the well. In general, this is the depth at which the drilling was stopped. INITIAL PRODUCTION (IP) – Production from a well is generally divided into three categories: a) flush or initial, b) settled, C). A well cannot maintain the flow speeds it made in the early stages of its life. VISCOSITY – the resistance of the fluid to the flow.
High viscose liquids do not flow as easily as low-viscosity liquids. COST DEPLETION – Reducing the amount of mineral resources from reserves estimated as a percentage of depletion. CASING POINT – The time a well has been drilled at its objective depth, when the operator must decide whether to spend additional dollars to “set the pipes” and try to complete or abandon the well as non-commercial. Tie-in systems are essential elements in underwater facilities. They provide safe and secure connections between underwater infrastructure and flow lines, navels, modules and pipelines for the import or export of oil or gas. PUMPING UNIT – also the pump pump, the oil horse, the horsehead pump, the rocking horse, the jet pump, the dinosaurs, the grasshopper pump, big Texane, bird pump or thirsty handles, is the main engine of a piston pump in an oil well. It is used to mechanically lift liquid from the well when there is not enough ground hole pressure for the liquid to flow to the surface. TUBING ANCHOR CATCHER (TAC) – a device that is used to anchor the hose cord to a desired depth on the case and maintain tension in the pipe rope during the constant up and down motion of the pumping station.