One day – One Word
Definition PSC is the acronym of Production Sharing Contract. PSA may also be used to refer to Production Sharing Agreement Comments PSC is an agreement between the parties to a well and a host country regarding the percentage of oil and gas production each party will receive after the participating parties have recovered a specified amount […]
Definition LPG is the acronym of Liquefied Petroleum Gases. LPG are the light hydrocarbons fraction of the paraffin series, derived from refinery processes, crude oil stabilisation plants and natural gas processing plants comprising propane, butane and butylenes or a combination of them. LPG may be also called liquefied refinery gases. LPG have no natural odor Comments As light […]
Definition CPF is the acronym of Central Processing Facility. Comments In the industry CPF may refers to any kind of manufacturing process as soon as it belongs to the core of the transformation of the facility. In the Oil and Gas industry, CPF belongs to the upstream activity to described the production unit performing the […]
Definition BOT is the acronym of Build-Own-Transfer or Build-Operate-Transfer. BOT is a business term which defines a specific three stages contract for greenfield projects. Comments Usually an end user willing to build a new plant from greenfield goes along the investment decision process until the final investment decision (FID). Assuming that the project is profitable and […]
Definition FID is in the Oil & Gas and Petrochemical industry the acronym of Final Investment Decision. Comments FID must not be confused with FEED which is another acronym commonly used also in the Oil & Gas and Petrochemical industry and stands for Front End Engineering and Design. Anyway both are in close connection since the FEED prepares the […]
Definition Oil sands are bitumen deposits which naturally occurred from the mixture of thick, heavy oil, water and sand. Since the heavy oil is classified as bitumen, Oil sands are scientifically named as Bituminous sands. Oil sands may also be called Tar sands where Tar refers to the residue produced from organic material distillation such as bitumen. […]
Definition Pipelay Vessel or Pipe Laying Vessel refers to the vessel used by the offshore oil and gas industry to install subsea all the connecting infrastructures such as pipelines, umbilicals or electrical cables Comments These subsea infrastructures may be installed to connect floating units on the surface to the seabed, or from shore to floating […]
Definition Elastomer comes from the contraction of elastic polymer. Elastomer refers to any material, such as but not limited too natural rubber or synthetic rubber, that is able to resume its original shape after removing a deforming force on it. Elastomer may also be called rubber. Comments Elastomer is an amorphous polymer with a special […]
