#Primavera p3 glossary of terms license
#Primavera p3 glossary of terms plus

#Primavera p3 glossary of terms license

They may allow booking of reserves.ДЄ carried interest is an agreement under which one party (the carrying party) agrees to pay for a portion or all of the pre-production costs of another party (the carried party) on a license in which both own a portion of the working interest. These agreements may give rights to oil volumes and generally carry a risk for the contractor. These agreements may include financial incentives for more efficient, lower cost developments and production levels higher than the minimum level agreed. Pricing mechanisms typically provide the contractor with an opportunity to recover investment at an agreed level of profit. It can be further categorized as Gas-Cap Gas or Solution Gas.Д«ehind-pipe reserves are expected to be recovered from zones in existing wells, which will require additional completion work or future recompletion prior to the start of production.ДЄn agreement between a host government and a contractor under which the host pays the contractor an agreed price for all volumes of hydrocarbons produced by the contractor. as reflected by well spacing) can also be important in establishing the relevance of the analogy.ДЄssociated Gas is a natural gas found in contact with or dissolved in crude oil in the reservoir. The development scheme for a reservoir (e.g. Analogous features and characteristics can include approximate depth, pressure, temperature, reservoir drive mechanism, original fluid content, oil gravity, reservoir size, gross thickness, pay thickness, net-to-gross ratio, lithology, heterogeneity, porosity and permeability. It also has the same or similar geologic age, geologic features, and reservoir rock and fluid properties.

#Primavera p3 glossary of terms plus

The Sum of Proved Reserves plus Probable Reserves plus Possible ReservesДЄn analogous reservoir is one in the same geographic area that is formed by the same, or very similar geological processes as, a reservoir in question (or under study for reserves evaluation) as regards sedimentation, diagenesis, pressure, temperature, chemical and mechanical history, and structure.

The Sum of Proved Reserves plus Probable Reserves The objective of this glossary is to clarify the meaning of those terms. In February 2000, the two organizations in conjunction with the American Association of Petroleum Geologists (AAPG), developed resources definitions that encompassed the entire range of petroleum reserves and resources.Д«y their very nature, these two documents include references to terminology which had yet to be defined by the three organizations. These other resources represent potential future additions to reserves and are therefore important to both countries and companies for planning and portfolio management purposes. These represented a major step forward in their mutual desire to improve the level of consistency in reserves estimation and reporting on a worldwide basis.ДЄs a further development, SPE and WPC recognized the potential benefits to be obtained by supplementing those definitions to cover the entire resource base, including those quantities of petroleum contained in accumulations that are currently sub-commercial or that have yet to be discovered. In recognition, the Society of Petroleum Engineers (SPE) and the World Petroleum Council (WPC, formerly World Petroleum Congresses) developed a set of petroleum reserves definitions which were presented to the industry in March 1997. In addition, the evolution of technology has yielded more precise engineering methods for reserve evaluation and has intensified the need for an improved nomenclature to achieve consistency among professionals working with petroleum reserves terminology. Since the mid-1930s, numerous technical organizations, regulatory bodies, and financial institutions have introduced ever more complex terminologies for the classification of petroleum reserves.

Glossary of Terms Used in Petroleum Reserves/Resources DefinitionsДЇor several decades, the terminology used in the classification of petroleum reserves and resources has been the subject of study and ongoing revision.