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OIL AND GASS GLOSSARY OF TERMS


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GLOSSARY PRODUCTION TERMS


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TERM

DEFINITION

Recovery Factor Ratio of recoverable oil and / or gas to estimated oil and / or gas in place in reservoir. Determined by a various factors such as reservoir dimensions, pressure, nature of hydrocarbons, and development plan. (see also Primary, Secondary and Tertiary Recovery.)
 
Redetermination Retroactive adjustment to relative percentage interests of joint ventures in a field.
 
Reserves: Possible Reserves at present cannot be regarded as "probable".
 
Reserves: Probable Reserves not yet "proven", but are estimated to have a better than 50% chance of being technically and economically producible.
 
Reserves: Proven Reserves which on available evidence are virtually certain to be technically and economically producible.
 
Reservoir drive Powered by difference in pressures within reservoir and well.
 
Reservoir engineering model Used to predict reservoir behavior during production to enable selection of most efficient method of recovery.
 
Satellite Installation An offshore structure that depends on another installation for materials or services.
 
Secondary Recovery Recovery of hydrocarbons from a reservoir by increasing reservoir pressure by injecting gas or water into reservoir rock. (see also Primary and Tertiary Recovery.)
 
Slug catcher Plant installed in a gas pipeline system to catch unwanted "slugs" of liquid.
   
Sub-sea wellhead A wellhead installed on the sea floor and controlled remotely from a platform, a floating production facility or land.
 
Subsea manifolds Allows wells to be put on production without need to build a platform to operate and maintain wells.
 
Substructure Support form of an offshore installation on which derrick, engines, helicopter pad, cranes, etc. are installed.

 



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