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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
Custody Transfer in the oil and gas industry refers to the transactions involving transporting physical substance from one operator to another. This includes the transferring of raw and refined petroleum between tanks and railway tank cars; onto ships, and other transactions.
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.
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 ...
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 ...
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