Terminologies

ABS – American Bureau of Shipping, a U.S classification society which has established rules and regulations for the classification of seagoing vessels or equipment

aft deck – The area on the main deck behind the living quarters on the OSV

AHT – Anchor handling tug, used to support offshore barges in laying out their anchors and retrieving their anchors from location to location, serve and standby duty for the barges and able to tow them away in case of emergency. A prime mover for the barges
AHTS – Anchor handling tug and supply, used to provide logistic support to offshore oil rigs, production platforms and other offshore installations, to tow rigs, barges and mobile structures from location to location as well as making sure their anchor are well placed in suited position
API – American Petroleum Institute, a United States trade association, whose members comprise corporations involved in the O&G industry. Its programs include producing standards, recommended practice, specification codes and technical publications that cover each segment of the O&G industry
API thread – Standardized thread licensed by the API
appraisal well – Wells drilled as part of an appraisal drilling programme which is carried
out to determine the physical extent, reserves and likely production rate of a field

appraisal drilling –

assessment – The geosciences, engineering, and associated studies conducted on a petroleum exploration, development, or producing project resulting in estimates of the quantities that can be recovered and sold and the associated cash flow under defined forward conditions. Projects are classified and estimates of derived quantities are categorized according to applicable guidelines.

AV – Accommodation vessel

accommodation workboat/workbarge –

AWB – Accommodation workboat vessel

bareboat charter – A charter where the charterer is provided a vessel but without the crew. The charterer is responsible for bearing the finance costs and all operational, maintenance, commercial and statutory requirements (set by the fiag state of a vessel in accordance with the prevailing laws of the country) of the vessel

barge – A flat-bottomed steel vessel used for the transportation of cargoes or for accommodation

basin –

BASS –

BASSnet – A computer-based system for planning and reporting maintenance activities, and performing material administration and stock purchasing

bbl – Barrel, a unit of measure for oil and petroleum products. One barrel is equivalent to about 158.987 litres
bbl/day – Barrel per day
bcf – Billion cubic feet
bcm – Billion cubic metre

best estimate – This is considered to be the best estimate of the quantity that will actually be recovered from the accumulation by the project. It is the most realistic assessment of recoverable quantities if only a single result were reported. If probabilistic methods are used, there should be at least a 50% probability (P50) that the quantities actually recovered will equal or exceed the best estimate. For prospective resources estimates, this estimate is dependent on a discovery being made. For contingent resources, this estimate is dependent on economic contingencies being successfully addressed.

BHA – Bottom Hole Assembly is the lower portion of the drill string which is
used to provide weight to the bottom of the drill string, to assist in the drilling of a hole by crushing the rock formation using the drill bit
BHP – Brake horsepower, which is the amount of power generated by a motor without taking into consideration any amount of the various auxiliary components that may slow down the actual speed of the motor
bn – Billion

boe – Barrels of oil equivalent to a gas volume (see Crude Oil equivalent)

boepd –

Bollard Pull – Pulling capacity of the AHTS/AHT vessel towing and/or working winch
BOP – Blowout Preventer

Bosun – The senior crewman of the deck department and is responsible for assisting the Chief Officer with the vessel’s deck maintenance and cargo operation

brownfield – An O&G field that has previously been developed

Bscf – Billion standard cubic feet

btoe – Billion tonne of oil equivalent
Btu – British thermal unit which is a traditionai unit of energy equal to about 1,055 joules

Bureau Veritas

cabotage – In admiralty law, refers to restrictions on the provision of services and the shipment of goods or carriage of passengers between two points within a country by a vessel registered in another country, effectively reserving domestic shipping activities to a country’s own flagged vessels. Permission to engage in cabotage is, in general, strictly restricted in every country

capital costs – Monies spent in drilling and completing a well that cannot be deducted under federal income tax law. The monies are recovered by the slower and less desirable depletion or depreciation methods. Capital expenditures also include geological and geophysical costs, equipment costs, and lease bonuses.

carbon footprint –

casing – Large-diameter pipe set inside a drilled well to protect the wellstream
CAD – Computer aided design
CAM – Computer aided manufacturing
CBM – Coal bed methane refers to methane adsorbed into the solid matrix of the coal. It is called ‘sweet gas’ because of its lack of hydrogen sulfide.
CNC – Computer Numerically Controlled machine refers to the automation of
machine tools that are operated by abstractly programmed commands encoded on a storage medium
CFD – Computational fluid dynamics

Clean-design –

commerciality – When a project is commercial, this implies that the essential social, environmental, and economic conditions are met, including political, legal, regulatory, and contractual conditions. In addition, a project is commercial if the degree of commitment is such that the accumulation is expected to be developed and placed on production within a reasonable time frame.

condensate – Condensates are a portion of natural gas of such composition that are in the gaseous phase at temperature and pressure of the reservoirs, but that, when produced, are in the liquid phase at surface pressure and temperature.

construction vessel –

Contingent Resources – Those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations, but the applied project(s) are not yet considered mature enough for commercial development due to one or more contingencies. Contingent Resources may include, for example, projects for which there are currently no viable markets, or where commercial recovery is dependent on technology under development, or where evaluation of the accumulation is insufficient to clearly assess commerciality

CPP – Central processing platform

crude oil – A mixture of naturally occurring hydrocarbons that has yet to be refined

crude oil equivalent – Converting gas volumes to the oil equivalent is customarily done on the basis of the heating content or calorific value of the fuel. There are a number of methodologies in common use. Before aggregating, the gas volumes first must be converted to the same temperature and pressure. Common industry gas conversion factors usually range between 1.0 barrel of oil equivalent (boe) = 5.6 thousand standard cubic feet of gas (msct) to 1.0 boe = 6.0 mse!.

cost recovery – Under a typical production-sharing agreement, the contractor is responsible for the field development and all exploration and development expenses. In return, the contractor recovers costs (investments and operating expenses) out of the gross production stream. The contractor normally receives payment in oil production and is exposed to both technical and market risks.

DCR – Daily Charter Rate
DD – Drilling Depth often refers to the depth of the well being drilled, not the water depth and hence, it can be used interchangeably with the term “well depth”

deadweight tonne or DWT – A measure of how much weight a vessel is engineered and designed to carry. It is the sum of the weight of cargo, fuel, fresh water, ballast water, provisions and crew

density – Mass per unit of volume. Density is typically reported in glee (for example, rocks) or pounds per barrel (drilling mUd) in the oil field.

DES – Derrick equipment set, which is installed on a platform to enable drilling work

deepwater – Water depths of 500m and more

deepwater drilling – Process of oil and gas exploration and production in depths of more
than 500 metres (1,640 ft)
development well – A well drilled to the depth of a geologically proven horizon that is likely to be productive within the proved area of an oil or gas reservoir, so as to maximise the chances of success

DGPS –

DLB –

DNV –

downstream – Aspects of the oil and gas industry that relate to refining and distribution

DP – Dynamic positioning, a computer-controlled system to automatically maintain a vessel’s position and heading by using its propellers and thrusters. The dynamic positioning level (e.g. DP1, DP2, DP3) indicates the degree and redundant systems which are back-up systems to ensure continuous operation

DP1 or DP Class One – Dynamic positioning level with one set of position reference and no back-up system

DP2 or DP Class Two – Dynamic positioning level with two independent position reference and one back-up system

DP3 or DP Class Three – Dynamic positioning level with at least three independent position reference and two back-up systems

drilling rig – A structure that has the capability to drill wells

drillship – Vessel-shaped floating drilling rigs capable of drilling in deepwater
drill bit – A rotating apparatus that usually consists of three cones made up of the hardest of materials (usually steel, tungsten carbide and/or synthetic or natural diamonds) and sharp teeth that cuts into the rock formation and sediment when drilling an oil or gas well
drill collar – Thick-walled tubular pieces machined from solid bars of steel that
provides weight on the drill bit for drilling and is a component of a drill string
drill stabilizer – A downhole equipment used in the BHA of a drill string to mechanically stabilise the BHA in the borehole in order to avoid unintentional sidetracking, vibrations and ensure the quality of the hole that is being drilled
drill string – Drill string is made up of BHA and drill pipe, which transmits drilling fiuid via the mud pumps to the drill bit

drydock – A narrow basin, usually made of earthen beams and concrete, closed by gates, into which a vessel may be floated and the water pumped out, leaving the vessel supported by blocks

drydocking – The process by which a vessel is raised and placed on concrete blocks for inspection, repair and maintenance on its hull and flat bottom

DSV – Diving support vessel

E&A – Exploration and Appraisal
E&P – Exploration and Production
EIA – The U.S. Energy Information Administration, a statistical and analytical agency within the U.S. Department of Energy, is responsible for collecting, analysing, and disseminating independent and impartial energy information to promote sound policymaking, efficient markets, and public understanding of energy and its interaction with the economy and the environment
EOR – Enhanced oil recovery is a generic term for techniques used for increasing the amount of crude oil that can be extracted from an oil field. It is sometimes referred to as “improved oil recovery” or “tertiary recovery”
EPC – Engineering, Procurement, Construction refers to a contract between a company and a contractor to perform detailed engineering, procurement of materials and equipment and construction of structure
EPCC – Engineering, procurement, construction and commissioning
EPIC – Engineering, procurement, installation and commissioning
EPCIC – Engineering, procurement, construction, installation and commissioning, used to describe a contract between a company and contractor to perform detailed engineering, procurement of materials, construction of structures, transport to site, installation and commissioning (preparatory activities to commence operations)

estimated ultimate recovery – Those quantities of petroleum, which are estimated, on a given date, to be potentially recoverable from an accumulation, plus those quantities already produced there from.

ETP – Economic Transformation Programme, The ETP is an initiative by the Malaysian government to turn Malaysia into a high income economy of USD 15,000 to USD 20,000 per capita, compared to the USD 6,700 recorded in 2010
exploration well – A well drilled to find oil or gas in an unproven area

fair market value – The amount of money (or the cash equivalent of some other consideration) determined
by the expert in accordance with the provisions of the VALMIN Code for which the mineral or petroleum
asset or security should change hands on the valuation date in an open and unrestricted market between a
willing buyer and a willing seller in an “arm’s length” transaction, with each party acting knowledgeably, prudently and without compulsion. Value is usually comprised of two components, the underlying or ‘technical value’ of the mineral or petroleum asset or security and a premium or discount relating to market, strategic, or other considerations. Value should be selected as the most likely figure from within a range after taking account of risk and the possible variation in ore grade, metallurgical recovery, capital and operating costs, commodity prices, exchange rates and the like.

fatigue life – The number of cycles of fluctuating stress and strain operating environments experienced by a drilling rig that a rig hull structure can sustain before failure occurs

FCB – Fast crew boat, a vessel of less than 500 gross tonnage, generally used for personnel transfer

FEA – Finite element analysis
FEED – Front end engineering design, which includes all engineering design and other activities for an engineering project. It starts from the project brief and works through to the visualisation, conceptualisation and definition stages. It involves translating the customer’s needs into a conceptual design and then a basic design

field – An area consisting of a single reservoir or multiple reservoirs all grouped on, or related to, the same individual geological structural feature and/or stratigraphic condition. There may be two or more reservoirs in
a field that are separated vertically by intervening impermeable rock, laterally by local geologic barriers, or both. It could be defined differently by regulatory authorities.

Fixed Platform – Offshore production structure consisting of a topside facility that is attached to the seabed via a steel jacket or a concrete foundation

Fixed Platform – Offshore production structure consisting of a topside facility that is attached to the seabed via a steel jacket or sometimes a concrete foundation

flare gas – Total volume of vented or flared gas.

FLNG – Floating Liquefied Natural Gas refers to offshore LNG production platform

floatovers – A process where a structure is loaded onto a submersible vessel or barge and is then towed to offshore location, etc.. Once in position, the submersible vessel or barge is ballasted/filled with sea water so that it will slowly sink, leaving the structure floating in the water. The AHT/AHTS will then tow and position the floating structure to its final intended position

flow test – An operation on a well designed to demonstrate the existence of moveable petroleum in a
reservoir by establishing flow to the surface and/or to provide an indication of the potential productivity of that reservoir. Some flow tests, such as drill stem tests (DSTs), are performed in the open hole. A DST is used to
obtain reservoir fluid samples, static bottomhole pressure measurements, indications of productivity and short-term flow and pressure buildup tests to estimate permeability and damage extent. Other flow tests,
such as single-point tests and multi-point tests, are performed after the well has been cased. Single-point
tests typically involve a measurement or estimate of initial or average reservoir pressure and a flow rate and
flowing bottomhole pressure measurement. Multi-point tests are used to establish gas well deliverability and absolute open flow potential.

fluid contacts – Typically defined as OillWater Contact, Gas/Oil Contact, GaslWater Contact

forerunner – A vessel, with similar or superior specifications as compared to the vessel as stated in the contract, chartered-in as a replacement or substitute, prior to the availability of the vessel

formation – A strata of rock that is sufficiently distinctive and continuous that it can be mapped.

forward sales – There are a variety of forms of transactions that involve the advance of funds to the owner
of an interest in an oil and gas property in exchange for the right to receive the cash proceeds of production,
or the production itself, arising from the future operation of the property. In such transactions, the owner
almost invariably has a future performance obligation, the outcome of which is uncertain to some degree. Determination as to whether the transaction represents a sale or financing rests on the particular circumstances of each case.

FPS – Floating production system, a collective term for all types of floating production units, including FPSOs, semi-submersibles, TLPs, SPARs and FPSOs. Semi-submersibles, TLPs and SPARs are normally deployed in deepwater and locations with pipeline infrastructure, since they typically do not have storage facilities
FPSO – Floating, Production, Storage and Offloading refers to production units that are the most commonly used method of deepwater production which are typically shipshaped and are often converted from crude oil carriers and are spread-moored on location but can be re-deployed to several fields over its lifespan
FPSS – Floating Platform Semi-Submersible offers all the advantages of semi­submersible drilling rigs such as the ability to provide a highly stable workstation in water depths of up to 3,000 metres
FSO – Floating, storage and offloading, a vessel that stores crude oil produced from a fixed or floating platform
FPU – Floating Production Units are offshore production platforms that are not fixed to the seabed via a fixed structure which includes FPSO, FPSS, TLP, SPAR and FLNG

fuel gas – Gas used for field and plant operations. Substantial savings can be achieved to the operating
cost of a project by avoiding the purchase of alternative supplies of gas or refined fuels such as diesel. SPE guidance allows the option to include fuel gas as part of the reserves estimate as long as an appropriate expense for the gas is included in the cash flow analysis.

GDP – Gross Domestic Product
geophysical – The physics of the earth and its environment. It provides information on the earth’s internal structure and composition, as well as the contour and structure of the seabed. The information is used to analyse potential petroleum reservoir and mineral deposits and to assist in determining the location to install production structures and pipelines. It is also used to detect and mitigate natural hazards such as shallow gas
geotechnical – A branch of engineering concerned with the behavior of earth material. It provides information on physical/mechanical and chemical properties of the soil and rock such as the type of components, strength and porosity. The information is needed to design structure to determine the ability of the soil to handle the structures and subsea equipment
greenfield – An O&G field that has not been developed

gyro compasses – A non-magnetic compass in which the direction of true north is maintained by a continuously driven gyroscope, which is a device to indicate the actuai true north, whose axis is paraliel to the earth’s axis of rotation

ft – A foot (or plural feet) is a unit of length measuring 0.3048 metre

high estimate – This is considered to be an optimistic’ estimate of the quantity that will actually be recovered from an accumulation by a project. If probabilistic methods are used, there should be at least a 10% probability (P10) that the quantities actually recovered will equal or exceed the high estimate. For
prospective resources estimates, this estimate is dependent on a discovery being made. For contingent resources, this estimate is dependent on contingencies being successfUlly addressed.

high specification jack-up drilling rigs – Rigs that have hook load capacity of at least 2,000,000 Ibs

HLV – Heavy lift vessel

hook load – The total force pulling down on the hook (travelling block) of a drilling rig, which includes the weight of the drill string and any ancillary equipment under the travelling block

horizontal well – A well that is drilled by deviation drilling and tracks the dip of a subsurface reservoir. A horizontal well traditionally consists of a vertical section and a lateral horizontal section which penetrates the
target reservoir.

HP – Horse power
HPHT – High Pressure High Temperature is typically used as a classification for reservoirs that are subject to pressure greater than 10,000 psi and temperature greater than 150°C
HSE – Health, Safety and Environment
HSSE – Health, Safety, Security and Environment
HUC – Hook-up and commissioning

hull – The main frame or body of a vessel without the verticai steel structure erected on the centre-line of the vessel and structures that are build on the main frame or body of a vessei

HWU – Hydraulic Workover Unit
IADF – International Association of Drilling Contractors
IMF – International Monetary Fund

IMR – Inspection, maintenance and repair, which refers to the function of carrying out maintenance activities of underwater infrastructure in the offshore environment

IOC – International oil companies, which refers to large private or public oil companies that have upstream, midstream and downstream capabilities, such as Shell and Exxonmobil
IPF – Installation of pipelines and facilities
IRM – Inspection, repair and maintenance

ISM or ISM Code – International Safety Management Code, which is a code set out to provide an international standard for the safe management and operation of ships and for poliution prevention

ISPS – International Ship and Port Facility Security Code, which is a code set out to provide an international standard for the detection of security threats and preventive measures against security incidents affecting ships or port facilities used in international trade

jacket – Steel structures partly submerged that support the above water or Topside of an offshore platform
jack-up – Jack-up drilling rigs are primarily used for continental shelf drilling operations in water depths typically ranging from 91 to 152 metres (300 to 500 ft)
killed-well – Well pressure suppressed by kill fluid or kill mud to the extent preventing flow of reservoir fluids without the need for pressure control equipment at the surface

km – kilometre

KNOC – Korea National Oil Corporation
kWe – Kilowatt of electrical energy, which is a unit of electricity equal to 1,000 watts of electrical energy
LAT – Lowest astronomical tide, which is the height of the lowest tidal water level
lbs – Pounds
LNG – Liquefied Natural Gas

LOA – Length overall, the maximum length of a huli measured parallel to the waterline

low estimate – This is considered to be a conservative estimate of the quantity that will actually be recovered from the accumulation by a project. If probabilistic methods are used, there should be at least a 90% probability (P90) that the quantities actually recovered will equal or exceed the low estimate. For
prospective resources estimates, this estimate is dependent on a discovery being made. For contingent resources, this estimate is dependent on contingencies being successfully addressed.

LTI – Lost Time Incident refers to an accident resulting in personnel not being able to work as a result of their injury
manifold – Seabed structure which gathers hydrocarbon products from other seabed structures, primarily satellite wells, which are then transported back to the tieback host throl\gh flowlines

MARPOL – International Convention for the Prevention of Poliution from Ships

MATS – Marine Audit and Task System

modules – Any or various modular sets or equipment designed to perform one or
more functions and be installed on an offshore platform
mboe – Million barrels of oil equivalents, is a metric used to measure both the rate of oil production or oil transportation, and also used to measure total proven reserves in the ground
mboe/day – Million barrel of oil equivalents per day

midstream – Aspects of the oil and gas industry relating to transport and trading

MMBtu – Million British thermal units

MMstb – Million stock tank barrels

mn – Million
moonpool – A feature of marine drilling platforms, drillships and diving support vessels. It is an opening in the floor or base of the hull, platform, or chamber giving access to the water below
MODU – Mobile Offshore Drilling Unit which includes jack-up drilling rigs, semi­submersible drilling rigs and drillships
MOPU – Mobile offshore production unit, a movable and transportable facility that is used to perform offshore production. Basic types of mobile units include bottom-supported units and floating units

mooring – Offshore support vessel (includes AHT, AHTS, AWB, FCB, PSV, SSV and UV) of which the main function is to support the offshore oil and gas operations, which includes movement of equipment or structures, as well as transportation of materials and personnel

MOSES – Meta-optimising semantic evolutionary search
MPOSV – Multi-purpose offshore support vessel
MSF – Module support frame, which is attached to the jacket to support the footprint area of the topside modules and transfer the topside weight evenly into the jacket structure

MSV – Multi-purpose vessel

mt – Metric tonne
MWe – Megawatt of electrical energy, which is a unit of electricity equal to 1,000,000 watts of electrical energy

net thickness – The net thickness of the reservoir excluding tight non-pay rock. Total reservoir thickness is
the gross.

NOC – National oil companies, which refers to oil and gas companies owned or controlled by a national government, typically having special rights or access to its local market
O&M – Operating and Maintenance
OCTG – Oil Country Tubular Goods which includes drill pipes, casings, oil well tubings, plain-end casing liners, pup joints, couplings and connectors but excludes linepipes which are commonly used to transport 0;1 and gas from production fields to end users
OCTG OSS – OCTG One Stop Shop
OEM – Original Equipment Manufacturer
OHSAS – Occupational health and safety assessment series
OIM – Offshore Installation Manager

operating costs – The direct operating costs plus district overhead plus employee benefits for a specific
producing property.

OPEX – Operational Expenditure

original gas-in-place (OGIP) – The total quantity of natural gas that is estimated to exist originally in
naturally occurring reservoirs.

OSV – Offshore support vessel (includes AHT, AHTS, AWB, FCB, PSV, SSV and UV) of which the main function is to support the offshore oil and gas operations, which includes movement of equipment or structures, as well as transportation of materials and personnel

overburden thickness – The thickness of the overburden rock above top of the coal seam. The distance
between ground level and the top of the coal seam.

PDMS – Plant design and management system
pedestal platform crane – An elevating and rotating lifting device that is temporarily installed, directly mounted or skid-beam mounted on a platform and used to transfer materials, equipment or personnel to or from marine vessels, barges and offshore platforms

permeability – The measurement of a rock’s ability to transmit fluids, typically measured in darcies or
millidarcies.

pilot – A small development project to validate the petroleum engineering estimates of recovery, rates, and
spacing before the operator commits to commercial development.

pin and box – A type of connection to join parts of OCTG without couplings where the box is a thick-walled collar with threads on the inside whilst the pin is threaded on the outer circumference and is screwed into the box

Planned Maintenance System – A computer based system which assists our staff to carry out periodic maintenance

platform – Offshore structure that is fixed to the seabed

pipelay – A maritime vessel used in the construction of subsea infrastructure

PLEM – Pipeline end manifold
PLET – Pipeline end termination
pontoon-sponsons – A structure that consist of a pontoon, a floatation device with buoy and sufficient to float itself and heavy loads placed on a drilling rig for drilling operations, and sponsons, which are additional floatation devices attached to forward and aft columns to provide better stability under larger loading capacities

Possible Reserves – Those additional Reserves which analysis of geoscience and engineering data indicate are less likely to be recoverable than Probable Reserves. The total quantities ultimately recovered from the project have a low probability to exceed the sum of Proved plus Probable plus Possible (3P) Reserves, which is equivalent to the high estimate scenario. In this context, when probabilistic methods are used, there should be at least a 10% probability that the actual quantities recovered will equal or exceed the 3P estimate

Probabilistic Methods – The method of estimation of resources is called probabilistic when the known geoscience, engineering, and economic data are used to generate a continuous range of estimates and their associated probabilities.

Probability – The extent to which an event is likely to occur, measured by the ratio of the favourable cases to
the whole number of cases possible. SPE convention is to quote cumulative probability of exceeding or
equalling a quantity where P90 is the small estimate and P10 is the large estimate.

Probably Reserves – Those additional Reserves which analysis of geoscience and engineering data indicate are less likely to be recovered than Proved Reserves but more certain to be recovered than Possible Reserves. It is equally likely that actual remaining quantities recovered will be greater than or less than the sum of the estimated Proved plus Probable Reserves (2P). In this context, when probabilistic methods are used, there should be at least a 50% probability that the actual quantities recovered will equal or exceed the 2P estimate

Prospect – A project associated with a potential accumulation that is sufficiently well defined to present a
viable drilling target.

Prospective Resources – Those quantities of petroleum estimated, as of a given date, to be potentially recoverable from undiscovered accumulations by application of future development projects. Prospective Resources have both an associated chance of discovery and a chance of development. Prospective Resources are further subdivided in accordance with the level of certainty associated with recoverable estimates assuming their discovery and development and may be sub-classified based on project maturity

Proved Reserves – Those quantities of petroleum, which, by analysis of geoscience and engineering data, can be estimated with reasonable certainty to be commercially recoverable, from a given date forward, from known reservoirs and under defined economic conditions, operating methods, and government regulations. If deterministic methods are used, the term reasonable certainty is intended to express a high degree of confidence that the quantities will be recovered. If probabilistic methods are used, there should be at least a 90% probability that the quantities actually recovered will equal or exceed the estimate

propulsion – The driving force of a vessel which typically involves engine and propeller systems

premium jack-up drilling rigs – Cantilevered rigs that are capable of operating in water depths of 91 metres (300 ft) or more
premium thread – A class of high-performance thread types that are commonly used in modern oil well and gas weli completions, especially in offshore wells and onshore gas wells
process skid system – Any type of equipment or system that is housed on a transportable mini platform
PSC – Production Sharing Contract is an agreement between the parties to a field and a host country regarding the percentage of production each party will receive after the participating parties have recovered a specified amount of costs and expenses

PSV – Platform supply vessel

Psi – Pound per square inch or pressure per square inch
pulling capacity – The pulling capacity of a HWU while performing workover services, often measured in pounds. Average maximum pUlling capacity of a typical HWU is 300,000 Ibs

pure-play OSV provider – A company solely involved in the operation of OSVs and not involved in any other activities in the oil and gas value chain

Rat Hole – Extra hole drilled at the end of the well (beyond the last zone of interest) to ensure that the zone
of interest can be fully evaluated or a sump to enable dewatering.

Recovery Factor – A numeric expression of that portion of in place quantities of petroleum estimated to be recoverable by specific processes or projects, most often represented as a percentage.

Reserves – Those quantities of petroleum anticipated to be commercially recoverable by application of development projects to known accumulations from a given date forward under defined conditions. Reserves must further satisfy four criteria: they must be discovered, recoverable, commercial, and remaining (as of the evaluation date) based on the development project(s) applied

riser – A conduit that provides a permanent extension of a well head to a production platform

Risk – The probability of loss or failure.

Risk Factor – The chance of success.

ROV – A remotely operated vehicle, which is a tethered underwater vehicle
RSC – Risk Sharing Contract is a contract goveming IOCs to supply services and know-how to the state from exploration through production phases for the government in exchange for an agreed-on fixed fee or some other form of compensation and in risk service contract, IOCs bear all the exploration costs

rudders – A flat piece hinged vertically near the stern of a boat or ship for steering

semi-submersible drilling rig (semisub) – Floating drilling platforms that provide station-keeping and a large deck space making them an ideal MODU solution for development drilling in deepwater of rough sea conditions

SACS – Structural analysis computer system
SBM – Single buoy mooring
SCR – Steel catenary risers
SDS – Saturation diving systems

seismic survey – Studies done to gather and record patterns of induced shock wave reflections from underground layers of rock which are used to create detailed models of the underlying geological structure

SETR – Self-erecting tender rigs
SLED – A type of subsea component
shallow water drilling – Process of oil and gas exploration and production in water depth of less than 500 metres (1,640 ft) of water

ship management – The administration, operations and general management of a ship, including technical operations, repair, maintenance, crewing and insurance

snubbing capacity – Pushing capacity of a HWU while performing workover services, often measured in pounds. Average maximum pushing capacity of a typical HWU is 125,000 Ibs

SOLAS – International Convention for the Safety of Life at Sea

SPAR – Single Point Anchor Reservoir, a floating system with infield flow lines and associated subsea infrastructure to connect the subsea production and injection wells, is a cylindrical, partially submerged offshore drilling and production platform that is particularly well-adapted to deepwater

Special Action Team – Our in-house maintenance team which conducts search and repair operations both at sea and whilst vessels are at port

SSV – Straight supply vessel

stern – The rear end of a ship

stern roller – A large cylindrical roller fitted at the stern edge of an offshore tug’s after cargo deck to allow various awkward and heavy objects such as chains, anchors, hoses, etc. to be hauled onboard without causing excessive damage to the stern

sq metre – Square metre, the area of a square whose sides measure exactly 1 metre
st – Short tonne

stb – stock tank barrels

STOP – Safety Tools Observation Programme

Structure – A geological feature produced by deformation of the Earth’s crust, such as a fold or a fault; a feature within a rock, such as a fracture or bedding surface; or, more generally, the spatial arrangement of
rocks.

subsea services – Offshore diving and underwater related services for inspection, repair and maintenance of structures, pipelines and risers and for the construction of underwater facilities
substructure – Structure that supports Topsides and normally contains space for storage and well-control equipment
SURF – Subsea, umbilicals, risers and flowlines, refers to the infrastructure required for O&G production in the offshore environment and found between the seabed and the waterline
SWOT – Strengths, Weaknesses, Opportunities, Threats
tcf – Trillion cubic feet
tcm – Trillion cubic metre
threads – Ridges at the end of a pipe or tube that allows several similar pipes or tubes to be joined together

thrusters (bow/stern) – Usually one or more propellers fitted below the vessei’s wateriine at the forward part of the vessel to provide iateral thrust. For OP vessels, similar thrusters will also be fitted at the stern of the vessel

time charter – A charter whereby a vessel owner provides a vessei to a customer and is responsible for all finance costs and operating expenses except for fuel costs, which are borne by the charterer

TLP – Tension Leg Platform are offshore production platforms that are permanently tethered to the seabed which eliminates vertical movement on the surface and allows wells to be completed on the platform to increase recovery rate

tonne or ton – A metric ton or tonne which is equivalent to 1,000 kiiograms or 2,204.6 pounds

tonnage – A measure of the size or cargo capacity of a ship, and a “ton” is a unit of such measure

Topside – The portion of any offshore platform above water which includes among others, the process and production facilities, liVing quarters and modules
TRCF – Total recordable case frequency
Turret – Rotating structures used with FPSOs to attach lines to the unit, allowing the lines to remain connected while the unit moves. Turrets may be internal or external to the FPSO
trunklines – Pipelines with large diameter, typically designed to transport oil and gas from production fields to various onshore facilities including refineries, and separation plants
tubing – Production tubing is placed inside the casing and assembled with other completion components to make up the production string
tubular products – Also called tubular, includes Iinepipes and OCTG such as tubing, casing, drill pipes, drill collars and couplings
UCUA – Unsafe condition unsafe act
ultra deepwater drilling – Process of oil and gas E&P in depths of more than 1,500 metres (4,921 ft)

Uncertainty – The range of possible outcomes in a series of estimates. For recoverable resources assessments, the range of uncertainty reflects a reasonable range of estimated potentially recoverable quantities for an individual accumulation or a project.

upstream – Aspects of the oil and gas industry relating to exploration and production

UV – Utility vessel

Vertical Well – A well drilled vertically into the subsurface.

VLCC – Very large crude carriers

Volumetric Estimate – An estimate of the volume of gas-inplace or resources/reserves using generally accepted petroleum engineering equations.

water depth (WD) vs. well depth – The water depth refers to vertical distance between the sea level and the seabed where the drilling starts whilst well depth refers to the total length drilled to complete a well
well kill – An operation aimed to stop a well from flowing into the wellbore so that workover intervention can take place
well bore – Any hole drilled for the purpose of exploration or extraction of natural resources

winch – A rotating machine with one or more drums for towing or moving objects using steel wires, ropes, cabies or chains

1C – Low estimate scenario of Contingent Resources -with respect to resource categorisation, this is considered to be a conservative estimate of the quantity that will actually be recovered from the accumulation by a project. If probabilistic methods are used, there should be at least a 90% probability (P90) that the quantities actually recovered will equal or exceed the low estimate

2C – Best estimate scenario of Contingent Resources -with respect to resource categorisation, this is considered to be the best estimate of the quantity that will actually be recovered from the accumulation by the project. It is the most realistic assessment of recoverable quantities if only a single result were reported. If probabilistic methods are used, there should be at least a 50% probability (P50) that the quantities actually recovered will equal or exceed the best estimate

3C – High estimate scenario of Contingent Resources -with respect to resource categorisation, this is considered to be an optimistic estimate of the quantity that will actually be recovered from an accumulation by a project. If probabilistic methods are used, there shou Id be at least a 10% probability (P 10) that the quantities actually recovered will equal or exceed the high estimate

1P – Proved Reserve

2P – Proved and Probable Reserves

3P – Proved and Probable and Possible Reserves

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