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Field allocation or platform allocation denotes allocation cases where contribution sources are more than one production field or more than one offshore platform, making a commingled flow into a pipeline. [13] Well allocation is a term used in the case where the contribution sources are production petroleum wells, or any type of injection well.
Allocation (oil and gas) in hydrocarbon accounting to assign the proper portions of aggregated petroleum and gas flows back to contributing sources; Allocation voting in voting; Location-allocation, used in geographic information systems (GIS) The allocation of scarce resources in operations research
OCTG – oil country tubular goods (oil well casing, tubing, and drill pipe) [23] OD – outer diameter (of a tubular component such as casing [citation needed]) ODT – oil down to; OFE – oil field equipment; OFST – offset vertical seismic profile; OEM – original equipment manufacturer; OFIC – offshore interim completion certificate
Intelligent well: An oil or gas well equipped with monitoring equipment and completion components that allow for automatic or remote optimization of production. Joint: A length of pipe. Kelly: A square or hexagon pipe ( Approximately 40 ft. long ) used to turn the drill string while drilling.
On Tuesday, Goldman Sachs reportedly stated AI could lower oil prices over the next decade by reducing costs and increasing recoverable resources, boosting supply. The bank says that AI’s impact ...
Daily production can be matched against production forecasts to establish the accuracy of simulation models based on actual volumes of recovered oil or gas. Unlike analogs or volumetric methods above, the degree of confidence in the estimates (or the range of outcomes) increases as the amount and quality of geological, engineering and ...
In economics, the field of public finance deals with three broad areas: macroeconomic stabilization, the distribution of income and wealth, and the allocation of resources. . Much of the study of the allocation of resources is devoted to finding the conditions under which particular mechanisms of resource allocation lead to Pareto efficient outcomes, in which no party's situation can be ...
Flow assurance [1] [2] is a relatively new term in oil and gas industry. It refers to ensuring successful and economical flow of hydrocarbon stream from reservoir to the point of sale. The term was coined by Petrobras in the early 1990s ahead of a DeepStar Program meeting, in Portuguese as Garantia do Escoamento [ 3 ] ( pt::Garantia do ...