Glossary

geophysical data that depicts the subsurface strata in two dimensions

Geophysical data that depicts the subsurface strata in three dimensions. 3D seismic typically provides a more detailed and accurate interpretation of the subsurface strata than 2D seismic.

Proved plus probable plus possible reserves accumulation an individual body of movable petroleum. A known accumulation (one determined to contain reserves or contingent resources) must have been penetrated by a well

American Petroleum Institute

Well drilled in order to assess characteristics (such as flow rate, volume) of a proved hydrocarbon accumulation

A stock tank barrel, a standard measure of volume for oil, condensate and natural gas liquids, which equals 42 US gallons

An area of licensed territory comprising one or more licenses

Barrels of oil per day

A particular type of crude oil that is light, sweet oil produced in the North Sea with most of it being refined in Northwest Europe. Brent is a benchmark oil

Those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations by application of development projects, but which are not currently considered to be commercially recoverable due to one or more contingencies

unrefined oil

Related to, or like a river delta and often shaped like the Greek letter ‘r’. A delta is a deposit formed where a river flows into an ocean, sea, desert, lake or estuary. Deltaic sediments have high potential as hydrocarbon reservoirs

drill stem test

A well drilled to find hydrocarbons in an unproved area or to extend significantly a known oil or natural gas reservoir

An area consisting of either a single reservoir or multiple reservoirs, all grouped on or related to the same individual geological structural feature and/or stratigraphic condition

A body of rock that is sufficiently distinctive and continuous that it can be mapped

The total estimated petroleum to be produced from a field

kilometer

Square Kilometer

Meters

thousand barrels of oil

million barrels of oil

net pay represents that portion of the reservoir containing oil and gas reserves that are anticipated to be economically recoverable for the particular reservoir drive mechanism

natural gas liquids

original oil in place

Organisation of Petroleum Exporting Countries

geologic components and processes necessary to generate and store hydrocarbons, including a mature source rock, migration pathway, reservoir rock, trap and seal. Exploration plays and prospects are typically developed in basins or regions in which a complete petroleum system has some likelihood of existing.

those unproved reserves which analysis of geosciences and engineering data indicate are less likely to be recoverable than probable reserves

Petroleum Resources Management System

Those unproved reserves which analysis of geosciences and engineering data indicate are less likely to be recovered than proved reserves but more certain to be recovered than

Production the cumulative quantity of petroleum that has been recovered at a given date.

A well drilled to obtain production from a proved oil or gas field. Production wells may be used either to extract hydrocarbons from a field or to inject water or gas into a reservoir in order to improve production

A project associated with a potential accumulation that is sufficiently well defined to represent a viable drilling target

Those quantities of petroleum which are estimated, as of a given date, to be potentially recoverable from undiscovered accumulations

Those quantities of petroleum which, by analysis of geological and engineering data, can be estimated with reasonable certainty to be commercially recoverable, from a given date forward, from known reservoirs and under current economic conditions, operating methods, and government regulations

A subsurface body of rock having sufficient porosity and permeability to store and transmit fluids. A reservoir is a critical component of a complete petroleum system

A method by which an image of the earth’s subsurface is created through the generation of shockwaves and analysis of their reflection from rock strata. Such surveys can be done in two or three dimensional form

Activities related to the exploration, appraisal, development and extraction of crude oil, condensate and gas

A benchmark Russian crude oil (used as a basis for pricing Russian export oil mixture), which trades at a discount to Brent crude, an international benchmark oil blend