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Production sharing agreements (PSAs) or production sharing contracts (PSCs) are a common type of contract signed between a government and a resource extraction company (or group of companies) concerning how much of the resource (usually oil) extracted from the country each will receive.
Mineral resource estimation is used to determine and define the ore tonnage and grade of a geological deposit, from the developed block model.There are different estimation methods used for different scenarios dependent upon the ore boundaries, geological deposit geometry, grade variability and the amount of time and money available.
Density and porosity, rock fluid pressures and other measurements are taken, some using radioactive sources, some using sound, some using electricity, etc.; this can then be used to calculate how freely oil and other fluids can flow through the formation, as well as the volume of hydrocarbons present in the rock and, with other data, the value ...
According to Presidential Decree No. 851, an employer is mandated by law to give his employees thirteenth month pay. The thirteenth month pay required by law should not be less than one twelfth of the total basic salary earned by an employee within a calendar year. [11] The thirteenth month pay is exempted from being taxed by the government.
Consider two wells, X and Y. Well X has a measured depth of 9,800 ft and a true vertical depth of 9,800 ft while well Y has measured depth of 10,380 ft while its true vertical depth is 9,800 ft. To calculate the hydrostatic pressure of the bottom hole, the true vertical depth is used because gravity acts (pulls) vertically down the hole. [2]
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Pump pressure, which is also referred to as system pressure loss, is the sum total of all the pressure losses from the oil well surface equipment, the drill pipe, the drill collar, the drill bit, and annular friction losses around the drill collar and drill pipe. It measures the system pressure loss at the start of the circulating system and ...
In 1976, Presidential Decree No. 1067, otherwise known as the Water Code of the Philippines was enacted. Based on the principles that: (a) “all water belongs to the State”; and (b) the State may allow the use or development of its waters by administrative concession", the NWRB was instituted as a “water resource regulator” tasked to ...