depletion
Definition Depletion refers to the decline of production of an oil or gas field. Depletion may also be used for accounting in a similar way as depreciation to allow an owner or operator to account for the reduction of a product’s reserves. For tax purposes, there are two types of depletion; cost depletion and percentage depletion. Comments […]
WorleyParsons completed FEED for PDO Zauliyah Petroleum Development Oman (PDO) is working on a new gas plant project at Zauliyah in central Oman adjacent to PDO’s existing Zauliyah Oil Production Station. The greenfield project will process non-associated gas, water and condensates from the Hasirah and Hawqa fields in the Bahja-Rima area of PDO’s concession to boost […]
Carbon dioxide injection to boost Adma-Opco oil fields Abu Dhabi Marine Operating Company (Adma-Opco) is Abu Dhabi National Oil Company (ADNOC)‘s subsidiary to explore and produce oil and gas from the offshore areas of the Emirate of Abu Dhabi, UAE. If the Abu Dhabi Emirate is rich of oil reserves, it has always been short of gas. […]
Doris to work on Maersk Chissonga FEED Maersk Oil (Maersk) , a fully owned subsidiary of A.P. Møller – Mærsk A/S operates the Block 16, which includes the Chissonga discovery. Chissonga is located in the Lower Congo Basin some 138 kilometres offshore Angola in water depths 1,500 meters. In 2011, Maersk Oil acquired the 15% interest […]
Definition FSO is the acronym of Floating Storage and Offloading used to describe the offshore operation between the oil and gas processing and the export to the shore by pipeline or shuttle tankers. Comments Originally, all the offshore platforms used to sit on the seabed, but as exploration and production moved to deeper waters and more […]
Definition BOE is the acronym of Barrel of Oil Equivalent – a unit of energy based on the approximate energy released by burning one barrel of Crude oil. One Barrel contains 42 US gallons or 158.9873 litres of light crude oil which will produce 5.8 × 106 British Thermal Units (million BTU or mBTU) according to the US […]
