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Definition SAGD is the acronym of Steam Assisted Gravity Drainage. The Steam Assisted Gravity Drainage is a process to produce oil from tar-sands. Comments The SAGD process has been developed in Ontario, then in Alberta by Imperial Oil (ExxonMobil) in the years 1970s. Canada holds the most important reserves of extra heavy crude oil, also called […]

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 Definition BOP is the acronym of Blow Out Preventer or Blowout Preventer. The Blow Out Preventer (BOP) is a safety equipment to prevent the well to blowout. Designed and engineered for high oil and gas pressures, it is installed on the top of the well casing to contain anything to pass through and generate sub-sea leakages […]

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Definition Tie-back in the offshore oil and gas upstream activities refer to the connection of additional risers to the floating vessel or platform. Comments Originally the offshore oil and gas industry used to focus on large fields that could be explored and produced in drilling strait below the floating vessel or the platform. But the high […]

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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 […]

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