Posts Tagged ‘natural depletion’

One Day – One Country: Malaysia

Malaysia Key Projects and Business highlights  On the first half  2013, Malaysia confirmed the previous trends to become a key players of the Oil &  Gas and Petrochemical sector in Asia-Pacific region with Petrolian Nasional Bhd (Petronas) multiplying upstream and downstream initiatives with major international oil companies such as: Basf, ConocoPhillips, Murphy Oil […]

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Larsen & Toubro harvests Gas Compression projects in the Gulf

Larsen & Toubro wins Oman PDO Saih Rawl phase 2 >On August 27th 2012, Petroleum Development Oman LLC (PDO) awarded to Larsen & Toubro from India the engineering, procurement and construction (EPC) contract for the Saih Rawl Depletion Compression Phase 2 (SRDC2) project. Nine engineering companies were in competition to […]

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Depletion

Definition  Depletion refers to the decline of production of an oil or gas field. Depletion may also be used for accounting in a similar way as depreciation to allow an owner or operator to account for the reduction of a product’s reserves. For tax purposes, there are two types of depletion; cost […]

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