Technical Terms

I Company No. 712243·U I
GLOSSARY OF TECHNICAL TERMS
Barrel
BOE Christmas Tree or Xmas Tree
Crude Oil
Fabrication
Floating Production, Storage and Offload (“FPSO”)
Hydrocarbons
Hydrocarbon Reserve
Immobile Platform
Jacket Jack-up Platform Mooring System
Natural Gas The most commonly used unit in measuring and pricing crude oil or other petroleum products. 1 Barrel is the equivalent to 158.97 Iitres
Barrel of oil equivalent
The assembly of valves, pipes and fittings used to control the flow of hydrocarbons from a well. This term is coined because its set-up of various valves makes it look like a tree, with the valves bearing “gifts” in the form of hydrocarbons, thus the term “Christmas Tree”
The unrefined portion of petroleum that exists in a liquid state in natural underground reservoirs and remains in a liquid state at atmospheric pressure and temperature. Crude Oil may contain small quantities of non-hydrocarbons
Fabrication is the term generally applied to the value-added process of constructing machines and structures out of various raw materials, primarily metal
A production platform or facility based on a purpose-built or modified vessel. Generally moored to the sea floor. Capable of producing and processing hydrocarbons from subsea wells, as well as storing and offloading the hydrocarbons onto shuttle tankers
A wide range of chemical compounds comprising hydrogen and carbon. Hydrocarbon also refers to, and is used interchangeably with, Oil and Gas
Those quantities of hydrocarbons which are anticipated to be commercially recoverable from known accumulations from a given date forward
Production Platform built on concrete and/or steel legs anchored directly onto the sea floor. They are not mobile and are designed for long-term use. Use of Immobile Platforms is generally restricted to shallow water.
Structure that is installed on the seabed, on which the Topside or Module rests
A mobile platform with legs that can be raised and lower. Legs are lowered and anchored to the sea floor during operation
A system designed to secure a vessel, FPSO, or any floating production system to the sea floor by means of buoys, chains, anchors and other equipment
A naturally occurring mixture of hydrocarbon gasses. Methane (CH4) is the chief constituent of most natural gas (constituting as much as 85% of some natural gas). Impurities can also be present in large proportions, including carbon dioxide, helium, nitrogen and hydrogen sulphide
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GLOSSARY OF TECHNICAL TERMS (Cont’d)
Oil Major
Oilrig
Petroleum
Platform
Production Platform
Production Sharing Contract (“PSC”)
Single Buoy Mooring (“SBM”) System
Skid Diversified Oil and Gas Industry company active in all, or nearly all, sectors of the Oil and Gas Industry. Oil Majors may be publicly owned, privately owned or state-owned companies. Oil Majors tend to be large, and usually multinational in their operations
May also be known as “drilling rig”. Surface structure housing equipment and machinery used in hydrocarbon production. An oilrig may be onshore or offshore. Offshore oilrigs usually include all facilities necessary to carry out drilling, including living quarters. The different types of offshore oilrigs commonly used are jackups, semi-submersibles and drillships
A complex mixture of a naturally occurring hydrocarbon compounds found in rock. Petroleum may be in gaseous, liquid or solid states, but the term generally refers to liquid crude oil
An immobile structure that is installed in a marine environment (Le. offshore) is known as a Platform. Platforms provide a base for drilling and/or production activities
The structure on which hydrocarbons are extracted in a marine environment. There are 4 distinct types of rig platforms ­Immobile Platforms, Semi-submersible Platforms, Jack-up Platforms and FPSO vessels
In a production-sharing contact between a contractor and a host govemment, the contractor typically bears all risks and costs for petroleum exploration, development, and production. In return, if the exploration is successful, the contractor is given the opportunity to recover its investment from production, subject to specific limits and terms. The contractor also receives a stipulated share of the production remaining after cost recovery, referred to as profit hydrocarbons. Ownership is retained by the host government. However, the contractor normally receives title to the prescribed share of the volumes as they are produced. Reserves consistent with the cost recovery plus profit hydrocarbons that are recoverable under the terms of the contract are typically reported by the upstream contractor
Mooring system secured to the sea floor that is utilised to hold FPSO. Also contains equipment to allow for the transfer of hydrocarbons stored on FPSO onto another vessel, typically a tanker
A structure on which equipment is affixed, and which can be lifted
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I Company No. 712243·U I
GLOSSARY OF TECHNICAL TERMS (Cont’d)
Semi-submersible Platform
Topside or Module
Welding Floating offshore structure that has hulls or pontoon-like structures submerged in the water, but not resting on the seafloor. Semi-submersible Rigs are either self-propelled or towed, and are either anchored or dynamically positioned over the site, or both. Semi-submersible Rigs can be used as drilling and production platforms, depending on the equipment with which they equipped. When fitted with a drilling package, they may be called “semi-submersible drilling rigs”
Generally the portion of Immobile Platforms, Semi-submersible Platforms, and Jack-up Platforms that is permanently above the surface. Typically houses all the equipment and systems required for self-sufficient hydrocarbon production. Key equipment and systems include drilling rig, wellhead and Christmas Tree, power generating machinery, storage and offloading facilities, and crew accommodations
Welding is a fabrication process that joins materials, usually of metal or thermoplastic, by causing coalescence. Welding is often done by melting that work-pieces and adding a filler material to form a pool of molten material that cools to become a strong joint. Sometimes pressure is also used in conjunction with heat, or by itself, to produce the weld
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