North Sea oil is a mixture of hydrocarbons, comprising liquid petroleum and natural gas, produced from petroleum reservoirs beneath the North Sea.
Oil reserves denote the amount of crude oil that can be technically recovered at a cost that is financially feasible at the present price of oil. Hence reserves will change with the price, unlike oil resources, which include all oil that can be technically recovered at any price. Reserves may be for a well, a reservoir, a field, a nation, or the world. Different classifications of reserves are related to their degree of certainty.
Apache Corporation is a company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in Houston. The company is ranked 411th on the Fortune 500.
The South Pars/North Dome field is a natural-gas condensate field located in the Persian Gulf. It is by far the world's largest natural gas field, with ownership of the field shared between Iran and Qatar. According to the International Energy Agency (IEA), the field holds an estimated 1,800 trillion cubic feet of in-situ natural gas and some 50 billion barrels of natural gas condensates. On the list of natural gas fields it has almost as much recoverable reserves as all the other fields combined. It has significant geostrategic influence.
Türkiye Petrolleri Anonim Ortaklığı (TPAO) was founded in 1954 by Law No. 6327 with the responsibility of being involved in hydrocarbon exploration, drilling, production, refinery and marketing activities as Turkey's national company.
The Bakken Formation is a rock unit from the Late Devonian to Early Mississippian age occupying about 200,000 square miles (520,000 km2) of the subsurface of the Williston Basin, underlying parts of Montana, North Dakota, Saskatchewan and Manitoba. The formation was initially described by geologist J.W. Nordquist in 1953. The formation is entirely in the subsurface, and has no surface outcrop. It is named after Henry Bakken, a farmer in Tioga, North Dakota, who owned the land where the formation was initially discovered while drilling for oil.
The Sangachal Terminal is an industrial complex consisting of a natural gas processing plant and oil production plant, located on the coast of the Caspian Sea 45 kilometres (28 mi) south of Baku, Azerbaijan.
Energy in Saudi Arabia involves petroleum and natural gas production, consumption, and exports, and electricity production. Saudi Arabia is the world's leading oil producer and exporter. Saudi Arabia's economy is petroleum-based; oil accounts for 90% of the country's exports and nearly 75% of government revenue. The oil industry produces about 45% of Saudi Arabia's gross domestic product, against 40% from the private sector. Saudi Arabia has per capita GDP of $20,700. The economy is still very dependent on oil despite diversification, in particular in the petrochemical sector.
The East Midlands Oil Province, also known as the East Midlands Petroleum Province, covers the petroliferous geological area across the north-eastern part of the East Midlands of England that has a few small oil fields. The largest field in the province is the Welton oil field, the second largest onshore oil field in the UK.
The Boldești-Scăeni oil field is an oil field located in Boldești-Scăeni, Prahova County. It was discovered in 1942 and developed by Petrom. It began production in 1945 and produces oil and natural gas. The total proven reserves of the Boldești-Scăeni oil field are around 317 million barrels (43.2×106tonnes), and production is centered on 23,000 barrels per day (3,700 m3/d).
This article describes the energy and electricity production, consumption and import in Egypt.
Although there are numerous oil companies operating in Canada, the majority of production, refining and marketing is done by fewer than 20 of them. According to the 2013 edition of Forbes Global 2000, canoils.com and any other list that emphasizes market capitalization and revenue when sizing up companies, as of March 31, 2014 these are the largest Canada-based oil and gas companies. However more recent changes, possibly mergers or a stronger showing in the price of oil could mean a few of the oil sands producers are underrepresented; this is because Canadian companies are increasingly dependent on production from that source, which is hurt severely when oil prices decline below 50 to 60 dollars a barrel since costs per barrel traditionally exceed $28 and non-upgraded bitumen produces 1.7 fewer barrels per metric ton than West Texas Intermediate oil. A few of the larger companies don't show up in the Forbes list because its ranking system takes many different factors into account. Syncrude and Irving Oil are also leaders in the Canadian industry, with Syncrude being the top producer of oil sands crude and Irving Oil operating the largest oil refinery in the country. Also, based on the price paid for a 9% share in Syncrude Canada Ltd by Sinopec the company could be worth as much as US$50 billion. Canadian oil company profits quickly recovered from the financial crisis; In 2009 they were down 90% but in 2010 they reached $8.4 billion; Helping profits is the smaller price gap between West Texas Intermediate oil ($85/bbl) and Western Canadian heavy crude ($65/bbl) with the price of upgraded synthetic oil surpassing WTI when supply falls. The two largest are 2 of the 11 most valuable Canadian companies. 2,412 oil and gas companies are based in Calgary, Alberta alone.
For the economic effects refer to Economy of Iran.
The Ombrina Mare oil field is an oil field located off shore Abruzzo. It was discovered in 2007 and developed by Mediterranean Oil & Gas. At the moment being the Italian government blocked the projects in the area, since the oil field lies at less than 12 miles from the coastline. The total proven reserves of the Ombrina Mare oil field are around 166 million barrels (29.38×106tonnes), and production is centered on 13,650 barrels per day (2,170 m3/d).
The Cuejdiu oil field is an oil field located in Gârcina, Neamţ County. It was discovered in 2010 and developed by Aurelian Oil & Gas. It will begin production in 2012 and will produce oil. The total proven reserves of the Cuejdiu oil field are from 150 million barrels (20×106tonnes) to 300 million barrels (40×106tonnes), and production is slated to be centered on 10,000 barrels per day (1,600 m3/d).
Tight oil is light crude oil contained in petroleum-bearing formations of low permeability, often shale or tight sandstone. Economic production from tight oil formations requires the same hydraulic fracturing and often uses the same horizontal well technology used in the production of shale gas. While sometimes called "shale oil", tight oil should not be confused with oil shale, which is shale rich in kerogen, or shale oil, which is oil produced from oil shales. Therefore, the International Energy Agency recommends using the term "light tight oil" for oil produced from shales or other very low permeability formations, while the World Energy Resources 2013 report by the World Energy Council uses the terms "tight oil" and "shale-hosted oil".
The Luzzu oil field is an oil field located in the Mediterranean Sea. It was discovered in 2006 and developed by Mediterranean Oil & Gas. It will begin production in 2015 and will produce oil. The total proven reserves of the Luzzu oil field are set between 2.42 billion barrels (325×106tonnes) and 13 billion barrels (1745×106tonnes) with the mean of 5.14 billion barrels (690×106tonnes), and production will be centered on 100,000 barrels per day (16,000 m3/d).
The Olimpiysky field is a Romanian oil field that was discovered in 2001 and located on the continental shelf of the Black Sea. It will begin production in 2016 and will produce oil and natural gas. The total proven reserves of the Olimpiysky oil field are around 70 million barrels (11,000,000 m3), and production will be centered on 5,000 barrels per day (790 m3/d) in 2016.
The petroleum industry in Syria forms a major part of the economy of Syria. According to the International Monetary Fund, before the Syrian Civil War, oil sales for 2010 were projected to generate $3.2 billion for the Syrian government and accounted for 25.1% of the state's revenue.
