Posts Tagged ‘Probable reserves’

ExxonMobil, BP, ConocoPhillips and TransCanada shape Alaska SC LNG

Kenai Peninsula selected to host Alaska SC LNG Trains The super major companies ExxonMobil, BP, ConocoPhillips and TransCanada have selected Nikiski on the Kenai Peninsula in South Central Alaska to locate the liquefied natural gas (LNG) plant for their giant Alaska South Central (SC) LNG Project. Over the last years […]

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Tullow nears development decision on Namibia Kudu Gas-To-Power

After years delay Tullow wants Kudu money back After years of uncertainty and delays, the London-based Tullow Oil plc (Tullow) and its partners, Itochu Corporation (Itochu) from Japan and the National Petroleum Corporation of Namibia (Namcor), are decided to move the Kudu Gas-To-Power project ahead in Namibia. Located 130 kilometers […]

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Shell, Nexus and Osaka set joint venture for Crux LNG and NGL

Shell, Nexus and Osaka to speed up Crux development Shell, Nexus Energy Ltd (Nexus) from Australia, and Osaka Gas Corp. Ltd (Osaka) have decided to merge their previous respective interests in Crux gas field into a newly created joint venture. Crux belongs to the offshore block AC/L9 of non-associated gas and is […]

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Recoverable Reserves

Definition Recoverable reserves are defined as the proportion of resources, here oil and gas, that can be technically, economically and legally possible to extract. The recoverable reserves may also be called proven reserves. Comments The recoverable reserves may be far different from the total resources called total Petroleum Initially-In-Place (PIIP). This Petroleum Initially-In-Place (PIIP) is an […]

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GDF Suez awards $2.2 billion Cygnus detailed design to AMEC

GDF Suez, Centrica and Bayerngas sanction Cygnus development  GDF Suez and its partners Centrica and Bayerngas  awarded the detailed design contract to AMEC for the development of the Cygnus natural gas field in the UK continental shelf in the southern North Sea. Cygnus was discovered in 1988 in the blocks 44/12a […]

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Novatek and Total Yamal LNG in good progress

EDF reported to join Novatek and Total in Yamal LNG EDF may join OAO Novatek (Novatek) and Total in Yamal LNG since the project has been declared of national interest by the Russian authorities for fast-track implementation. Russia is now willing to boost its oil and gas exploration and production […]

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Proven reserves

Definition Proven reserves is an industry term that means oil or gas that has been discovered and could be produced with today’s technology. Comments The world consumes about 89 million barrels of oil per day, or 32.5 billion barrels per year. The industry describes a field as giant if it […]

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