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Gas Reserves
Oil and gas reserves denote ''discovered'' quantities of crude oil and natural gas (oil or gas fields) that can be profitably produced/recovered from an approved development. Oil and gas reserves tied to approved operational plans filed on the day of reserves reporting are also sensitive to fluctuating global market pricing. The remaining resource estimates (after the reserves have been accounted) are likely sub-commercial and may still be under appraisal with the potential to be technically recoverable once commercially established. Natural gas is frequently associated with oil directly and gas reserves are commonly quoted in barrels of oil equivalent (BoE). Consequently both oil and gas reserves, as well as resource estimates, follow the same reporting guidelines, and are referred to collectively hereinafter as ''oil & gas''. Quantification Detailed classification schemes have been devized by industry specialists to quantify volumes of oil & gas accumulated underground ( ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Oil Discovery Well Fow Test
An oil is any nonpolar chemical substance that is composed primarily of hydrocarbons and is hydrophobic (does not mix with water) & lipophilic (mixes with other oils). Oils are usually flammable and surface active. Most oils are unsaturated lipids that are liquid at room temperature. The general definition of oil includes classes of chemical compounds that may be otherwise unrelated in structure, properties, and uses. Oils may be animal, vegetable, or petrochemical in origin, and may be volatile or non-volatile. They are used for food (e.g., olive oil), fuel (e.g., heating oil), medical purposes (e.g., mineral oil), lubrication (e.g. motor oil), and the manufacture of many types of paints, plastics, and other materials. Specially prepared oils are used in some religious ceremonies and rituals as purifying agents. Etymology First attested in English 1176, the word ''oil'' comes from Old French ''oile'', from Latin ''oleum'', which in turn comes from the Greek (''elaion'') ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Structural Basin
A structural basin is a large-scale structural formation of rock strata formed by tectonic warping of previously flat-lying strata. They are geological depressions, the inverse of domes. Elongated structural basins are also known as synclines. Some are sedimentary basins, aggregations of sediment that filled up a depression or accumulated in an area. Others were formed by tectonic events long after the sedimentary layers were deposited. Basins may appear on a geologic map as roughly circular or elliptical, with concentric layers. Because the strata dip toward the center, the exposed strata in a basin are progressively younger from the outside in, with the youngest rocks in the center. Basins are often large in areal extent, often hundreds of kilometers across. Structural basins are often important sources of coal, petroleum, and groundwater. Examples Europe * Hampshire Basin, United Kingdom * London Basin, United Kingdom * Paris Basin, France * Permian Basin, Poland, northern ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Probability Distribution
In probability theory and statistics, a probability distribution is the mathematical function that gives the probabilities of occurrence of different possible outcomes for an experiment. It is a mathematical description of a random phenomenon in terms of its sample space and the probabilities of events (subsets of the sample space). For instance, if is used to denote the outcome of a coin toss ("the experiment"), then the probability distribution of would take the value 0.5 (1 in 2 or 1/2) for , and 0.5 for (assuming that the coin is fair). Examples of random phenomena include the weather conditions at some future date, the height of a randomly selected person, the fraction of male students in a school, the results of a survey to be conducted, etc. Introduction A probability distribution is a mathematical description of the probabilities of events, subsets of the sample space. The sample space, often denoted by \Omega, is the set of all possible outcomes of a random phe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Energy Development
Energy development is the field of activities focused on obtaining sources of energy from natural resources. These activities include production of renewable, nuclear, and fossil fuel derived sources of energy, and for the recovery and reuse of energy that would otherwise be wasted. Energy conservation and efficiency measures reduce the demand for energy development, and can have benefits to society with improvements to environmental issues. Societies use energy for transportation, manufacturing, illumination, heating and air conditioning, and communication, for industrial, commercial, and domestic purposes. Energy resources may be classified as primary resources, where the resource can be used in substantially its original form, or as secondary resources, where the energy source must be converted into a more conveniently usable form. Non-renewable resources are significantly depleted by human use, whereas renewable resources are produced by ongoing processes that can sust ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Petroleum Probabilities
Petroleum, also known as crude oil, or simply oil, is a naturally occurring yellowish-black liquid mixture of mainly hydrocarbons, and is found in geological formations. The name ''petroleum'' covers both naturally occurring unprocessed crude oil and petroleum products that consist of refined crude oil. A fossil fuel, petroleum is formed when large quantities of dead organisms, mostly zooplankton and algae, are buried underneath sedimentary rock and subjected to both prolonged heat and pressure. Petroleum is primarily recovered by oil drilling. Drilling is carried out after studies of structural geology, sedimentary basin analysis, and reservoir characterisation. Recent developments in technologies have also led to exploitation of other unconventional reserves such as oil sands and oil shale. Once extracted, oil is refined and separated, most easily by distillation, into innumerable products for direct use or use in manufacturing. Products include fuels such as gasoline (pet ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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