Oil and Gas Law
Expert-defined terms from the Postgraduate Certificate in International Energy Law course at HealthCareCourses (An LSIB brand). Free to read, free to share, paired with a professional course.
Abandonment refers to the relinquishment of a lease or a license t… #
Related terms include relinquishment and surrender.
Above #
Ground Storage Tank refers to a tank that is used to store crude oil or petroleum products and is located above the ground, as opposed to an underground storage tank. Related terms include below-ground storage tank and storage facility.
Accident refers to an unexpected and unplanned event that occurs during t… #
Related terms include incident and spill.
Accounting Procedure refers to the method used to account for the revenue… #
Related terms include financial reporting and revenue allocation.
Acquisition refers to the process of obtaining a lease or a lic… #
Related terms include merger and takeover.
Administrative Regulation refers to a rule or guideline issued by… #
Related terms include policy and guideline.
Agreement refers to a contract or accord between two or more parti… #
Related terms include contract and memorandum of understanding.
Allocation refers to the process of distributing revenues or co… #
Related terms include revenue allocation and cost sharing.
Appraisal refers to the evaluation of a discovery to determine its… #
Related terms include exploration and development.
Approval refers to the permission or consent granted by a governme… #
Related terms include permit and license.
Area of Mutual Interest refers to a geographic area that is of interes… #
Related terms include joint venture area and contract area.
Artificial Lift refers to a method or system used to increase</… #
Related terms include enhanced recovery and secondary recovery.
Asset refers to a property or right that has value or ut… #
Related terms include property and interest.
Assignment refers to the transfer of rights or obligations … #
Related terms include transfer and conveyance.
Associated Gas refers to natural gas that is produced in associati… #
Related terms include non-associated gas and gas condensate.
Barrel refers to a unit of measurement for crude oil and <i… #
Related terms include cubic meter and tonne.
Basin refers to a geologic depression that has the potential to co… #
Related terms include field and play.
Bcf refers to billion cubic feet , a unit of measurement for… #
Related terms include tcf and mcf.
Bbl refers to barrel , a unit of measurement for crude oi… #
Related terms include mbbl and b/d.
Block refers to a geographic area that is the subject of a lease o… #
Related terms include concession and permit area.
Blowout refers to an uncontrolled release of oil or gas from a … #
Related terms include spill and leak.
BOE refers to barrel of oil equivalent , a unit of measurement</… #
Related terms include mboe and boe/d.
Border Dispute refers to a conflict or disagreement between two or… #
Related terms include territorial dispute and maritime boundary.
Bottom #
Hole Pressure refers to the pressure at the bottom of a well, and can be an important factor in determining the flow rate and production characteristics of the well. Related terms include reservoir pressure and wellhead pressure.
Brent refers to a benchmark crude oil price, used as a referenc… #
Related terms include WTI and OPEC.
Capex refers to capital expenditures , which are costs associated w… #
Related terms include opex and revenue.
Carbon Capture and Storage refers to a technology or process used… #
Related terms include CCS and EOR.
Carrying Capacity refers to the maximum amount of oil or gas that can be… #
Related terms include pipeline capacity and transportation capacity.
Cash Flow refers to the inflow or outflow of money from an… #
Related terms include revenue and expenditure.
Casing refers to a steel pipe that is used to line a well a… #
Related terms include tubing and pipe.
Cessation refers to the termination or end of a particular acti… #
Related terms include abandonment and decommissioning.
Classification refers to the process of categorizing or ranking… #
Related terms include reserve classification and resource classification.
Climate Change refers to a global phenomenon that is caused by the emi… #
Related terms include global warming and sustainability.
Completion refers to the process of preparing a well for <b… #
Related terms include workover and stimulation.
Concession refers to a grant or award of rights to explore… #
Related terms include lease and license.
Condensate refers to a liquid hydrocarbon that is produced from a… #
Related terms include natural gas liquids and gas condensate.
Concession Agreement refers to a contract or agreement between a g… #
Related terms include production sharing agreement and joint venture agreement.
Conservation refers to the practice or policy of managing a… #
Related terms include sustainability and environmental protection.
Consideration refers to the payment or compensation that is made i… #
Related terms include royalty and tax.
Contract refers to a binding agreement between two or more parties that g… #
Related terms include agreement and memorandum of understanding.
Contract Area refers to the geographic area that is the subject of a c… #
Related terms include concession area and block.
Crude Oil refers to unrefined oil that is produced from a well<… #
Related terms include petroleum and hydrocarbon.
Cubic Meter refers to a unit of measurement for oil and … #
Related terms include barrel and tonne.
Decommissioning refers to the process of abandoning or decommis… #
Related terms include abandonment and cessation.
Development refers to the phase of an oil and gas project that follows <i… #
Related terms include production and operation.
Development Well refers to a well that is drilled to produce oil o… #
Related terms include exploration well and production well.
Dispute Resolution refers to the process of resolving or settli… #
Related terms include arbitration and mediation.
Distribution refers to the process of transporting and deliveri… #
Related terms include transportation and marketing.
Downstream refers to the segment of the oil and gas industry that involve… #
Related terms include upstream and midstream.
Drilling refers to the process of creating a well or bor… #
Related terms include well and borehole.
Dry Hole refers to a well that is drilled but does not produce oil… #
Related terms include dry well and non-productive well.
Enhanced Recovery refers to the process of increasing the amoun… #
Related terms include improved recovery and tertiary recovery.
Environmental Impact Assessment refers to the process of evaluating</i… #
Related terms include environmental assessment and impact assessment.
Environmental Regulation refers to a law or rule that governs the… #
Related terms include environmental law and conservation law.
Equipment refers to the machinery and tools that are used in the <… #
Related terms include facility and infrastructure.
Exploration refers to the phase of an oil and gas project that involves t… #
Related terms include discovery and appraisal.
Exploration Well refers to a well that is drilled to explore for o… #
Related terms include development well and production well.
Facility refers to a structure or installation that is used in the… #
Related terms include equipment and infrastructure.
Field refers to a geographic area that contains one or more oil or gas <b… #
Related terms include basin and play.
Fluid refers to a liquid or gas that is used in the exploration… #
Related terms include liquid and gas.
Formation refers to a layer or stratum of rock that contain… #
Related terms include reservoir and field.
Fuel refers to a substance that is used to generate energy … #
Related terms include energy and power.
Gas refers to a state of matter that is characterized by the ab… #
Related terms include liquid and solid.
Gas Field refers to a geographic area that contains one or more gas re… #
Related terms include oil field and basin.
Gas Processing refers to the process of treating and separating… #
Related terms include oil processing and refining.
Gas Reservoir refers to a geologic formation that contains gas and… #
Related terms include oil reservoir and field.
Geologic Formation refers to a layer or stratum of rock tha… #
Related terms include reservoir and field.
Geophysical Survey refers to the use of geophysical techniques to… #
Related terms include geologic survey and exploration.
GIS refers to geographic information system , a technology that is… #
Related terms include mapping and spatial analysis.
Hydrocarbon refers to a compound that is composed of hydrogen and… #
Related terms include fossil fuel and energy.
Infill Drilling refers to the process of drilling additional we… #
Related terms include development drilling and production drilling.
Infrastructure refers to the facilities and equipment that are use… #
Related terms include equipment and facility.
Injection refers to the process of injecting a fluid into a… #
Related terms include enhanced recovery and improved recovery.
International Law refers to the body of law that governs the re… #
Related terms include national law and regional law.
Investment refers to the expenditure of money or other resource… #
Related terms include expenditure and expenditure.
Joint Venture refers to a partnership or agreement between two or… #
Related terms include partnership and consortium.
Land Use refers to the use of land for a particular purpose … #
Related terms include land management and land planning.
Law refers to a rule or regulation that governs the behavior</b… #
Related terms include regulation and statute.
Lease refers to a contract or agreement that grants the right</… #
Related terms include concession and license.
Legal Framework refers to the body of law and regulations t… #
Related terms include regulatory framework and legal system.
License refers to a grant or award of the right to explo… #
Related terms include concession and lease.
Liquid refers to a state of matter that is characterized by a d… #
Related terms include gas and solid.
LNG refers to liquefied natural gas , a product that is derived fro… #
Related terms include LPG and GTL.
Log refers to a record or document that is used to track an… #
Related terms include record and document.
Midstream refers to the segment of the oil and gas industry that involves… #
Related terms include upstream and downstream.
Mineral Right refers to the right to explore and produce <b… #
Related terms include mining right and concession.
Mitigation refers to the process of reducing or minimizing … #
Related terms include environmental impact assessment and risk assessment.
MOU refers to memorandum of understanding , a document that outline… #
Related terms include contract and agreement.
National Law refers to the body of law that governs the explora… #
Related terms include international law and regional law.
Natural Gas refers to a type of gas that is composed primar… #
Related terms include oil and petroleum.
Offshore refers to the exploration and production of oil and gas i… #
Related terms include onshore and coastal.
Oil Field refers to a geographic area that contains one or more oil re… #
Related terms include gas field and basin.
Oil Reservoir refers to a geologic formation that contains oil and… #
Related terms include gas reservoir and field.
Onshore refers to the exploration and production of oil and gas on… #
Related terms include offshore and coastal.
Operating Agreement refers to a contract or agreement that governs… #
Related terms include joint operating agreement and unit operating agreement.
Operating Cost refers to the expenditure of money or other reso… #
Related terms include capital expenditure and revenue.
Participation Agreement refers to a contract or agreement that gov… #
Participation Agreement refers to a contract or agreement that governs the participation of two or