Glossary

Since the performance in global projects is about communication to co-ordinate global and local initiatives, it appeared imperative to create this glossary.

You will find words related to technology as well as commercial and contractual terms.

For each word you will find a definition as short and simple as possible and comments to make the best use of it.

With new technologies and new practices, new words or new understandings to come up at any time, feel free to comment. We expect to handle this section as a permanent  interactive learning session.

Many thanks in advance for your contribution

Jack-up : Definition: Jack-up is the name given to a category of offshore drilling rigs. These Jack-up rigs are easy to recognize by their long steel frame legs supporting the platform. Comments: There are three basic types of offshore drilling rigs, Jack-up, Drilling ships and Semi-submersible. These types have different design and costs, the choice depends on the drilling conditions such as the water depth. In that respect the Jack-up drilling rigs will be used in shallow water where the water depth will not exceed 160 meters (492ft). Once a jack-up rig is towed to the drilling site, three or four \'legs\' are lowered until they rest on the sea bottom. This allows the working platform to rest above the surface of the water, as opposed to a floating barge. These rigs are typically safer to operate than drilling ships, as their working platform is elevated above the water level.
Jacket : Definition Jacket refers in the oil and gas exploration and production to the steel frame supporting the deck and the topsides in a fixed offshore platform. Comments There are multiple types of offshore platforms depending on the applications and the depth of the water. Most of the platforms are used in the shallow waters of the continental shelf, so 95% of the offshore platforms in the world are jacket designed In these areas and where the water depth does not exceed 500 meters, these platforms may be anchored directly to the seabed. These platforms are fixed and their deck is supported by a steel tubular structure having its feet on the seabed. This steel tubular structure is called the jacket. To fix the jacket onto the seabed, the jacket is equipped with thick steel piles of 2 meters diameter that can penetrate the sea floor up to 100 meters deep to ensure the stability of the whole platform. The jacket may be hundreds meters high and weight thousands tonnes. The height of the jacket is defined by the water depth plus about 15 meters above the sea level. The tubular structure of a jacket is designed to support multiple constraints: - Weight of the processing equipment (topsides) - Impact of the waves - Pressure of the wind on the topsides - Flow of the sea water streams and tides - Corrosion - Fatigue effect - Life cycle time Acting as a cage, the jacket is protecting all the piping going through to the seabed. This space tubular frame is also protecting these pipes from lateral load. The deck structure is connected to the jacket by the deck legs transferring efforts both ways. The waves having a period of 14 to 20 seconds, the jacket is designed with a natural period of 2.5 seconds in order to prevent vibrations amplification under the waves effect. As a result of all the requirements imposed to the jacket, its costs may represent up to 40% of the total platform capital expenditure.
Japanese Crude Cocktail : Definition Japanese Crude Cocktail or JCC is the common name used in LNG Trading for Japan Customs-cleared Crude. This Japanese Crude Cocktail results from a basket of the most traded crude oils to be used as the reference price for long-term supply LNG Contracts. Japan created the JCC Contracts after the first oil shock, in the early 1970s, to secure its first LNG contract sourced primarely from Indonesia at that time. Comments The Petroleum Association of Japan is calculating this Japan Customs-cleared Crude index formerly from the average of the top twenty crude oils by volume. This is the raw and crude oil import prices in yen per kilolitre, the dollar yen exchange rate and the total Japanese imports of all commodities for the month JCC is published every month in customs statistics. Then South Korea and Taiwan had decided to use the same JCC index for their own long term LNG Contracts. Until the mid-1990s, LNG demand was heavily concentrated in Japan, South Korea and Taiwan. At the same time, Pacific Basin supplies dominated world LNG trade as the first energy source to be used in electric power generation. Still today the JCC Contracts explain the reason why in the Northeast Asia region the LNG prices are closely indexed on the crude oil prices.
JCC : Definition JCC is the acronym of Japanese Crude Cocktail or more formally Japan Customs-cleared Crude. This Japanese Crude Cocktail results from a basket of the most traded crude oils to be used as the reference price for long-term supply LNG Contracts. Japan created the JCC Contracts after the first oil shock, in the early 1970s, to secure its first LNG contract sourced primarely from Indonesia at that time. Comments The Petroleum Association of Japan is calculating this Japan Customs-cleared Crude index formerly from the average of the top twenty crude oils by volume. This is the raw and crude oil import prices in yen per kilolitre, the dollar yen exchange rate and the total Japanese imports of all commodities for the month JCC is published every month in customs statistics. Then South Korea and Taiwan had decided to use the same JCC index for their own long term LNG Contracts. Until the mid-1990s, LNG demand was heavily concentrated in Japan, South Korea and Taiwan. At the same time, Pacific Basin supplies dominated world LNG trade as the first energy source to be used in electric power generation. Still today the JCC Contracts explain the reason why in the Northeast Asia region the LNG prices are closely indexed on the crude oil prices.