This list is meant for indicative purposes only and should not be relied upon for anything but general information. log, CDF – Core contaminated by drilling fluid, CHCNC – CHCNC gamma ray casing collar locator, CHECK – checkshot and acoustic calibration report, CHESM – contractor, health, environment and safety management, CHK - choke (a restriction in a flowline or a system, usually referring to a production choke during a test or the choke in the well control system), CHOPS – Cold Heavy Oil Production with Sand, CHP – casing hanger pressure (pressure in an, CHOTO – Commissioning, Handover & Takeover, CITHP – closed-in tubing head pressure (tubing head pressure when the well is shut in), CNFDP – CNFD true vertical-depth playback log, CNCF – field-normalised compensated neutron porosity, CO – change out (ex. Special publication of the European Association of Petroleum Geologists No. Proved property costs are generally depleted using the UOP method. In: Chalk Geoscience Workshop. Oil ... Oil & Gas Accountability Project; Oil & Gas Development Company; Oil & Gas Exploration Company Krakow Ltd. Oil & Gas Investment Symposium; Honeywell UOP, formerly known as UOP LLC or Universal Oil Products, is a multi-national company developing and delivering technology to the petroleum refining, gas processing, petrochemical production, and major manufacturing industries. ), PWV – Production Wing Valve (also known as a flow wing valve on a, RACI – Responsible / Accountable / Consulted / Informed, RAM – Reliability, Availability, and Maintainability, RCI – Reservoir Characterization Instrument (for downhole fluid measurements e.g. Pipeline – Straight Line Method using committed field/asset production life or UOP method utilizing Proved Developed Reserves (it could be for pipelines which are dedicated to a single producing asset/field). For example: Depreciation for a building or plant or machinery, vehicle etc. Universal Oil Products. chemistry, technology, lubricant. Or Gauge Ring (measure hole size), HAZOP – Hazard and Operability Study (meeting), HCAL – HRCC Calliper (in Logs)(in Inches), HCCS – Horizontal Clamp Connection System, HCM – Horizontal Connection Module. Other people might have an idea. In that case "hook up" refers to making the connections from the well to the oil and gas separator and from the separator to either the storage tanks or … Though it differs from organization to organization however the general practice noticed in this regard are enumerated below: Let’s look at how to achieve that in SAP: Standard SAP Asset Depreciation configurations are useful (some of the important transaction codes are highlighted below) to set up the system so that DD & A can be executed as required: The configuration menu path for the UOP is as follows: Period/Year wise number of units will be entered here for respective Company Code & Depreciation Key combination. RHD – Rectangular Heavy Duty - usually screens used for shaking. If you received an answer, delete the abbreviation from this section, and add it to its alphabetical section (If it is not there yet). The K factor or characterization factor is a systematic way of classifying a crude oil according to its paraffinic, naphthenic, intermediate or aromatic nature. Normal/Regular assets that are used i.e. What is a Gas lift? oil phrase. Depletion means reduction in the number of registered quantity or its equivalent measure for a particular & identifiable thing. reduction in the value however these terms are being used for different purposes. No matter whether you’re new to gas oil and looking to learn more about it or have been using it for many years and simply curious to learn more. oil definition: 1. petroleum (= the black oil obtained from under the earth's surface from which petrol comes): 2…. Its primary uses are for blending into gasoline, for residential and commercial heating and for industrial uses. A comprehensive glossary of oil and natural gas industry terms and definitions. Upstream is a term for the exploration and production stages in the oil and gas industry. The K factor is also referred to as the UOP K factor or just UOPK. (Ed.). The terms upstream and downstream oil and gas production refer to an oil or gas company's location in the supply chain. This industry can be divided into a number of basic categories, such … FPO – Floating Production and Offloading - vessel with no or very limited (process only) on-board produced fluid storage capacity. Capitalized Interest Leasehold & Non-Leasehold can be depreciated through the UOP method utilizing the Proved Reserve or Proved Developed Reserve based on the respective scenario. The oil & gas industry is broken down into three segments: upstream, midstream, and downstream. van Dijk, J.P. (1993); Three-dimensional quantitative restoration of central Mediterranean Neogene basins. SPE paper 50570, Europec; European Petroleum Conference, Vol.1, 31–43. Well Equipment – UOP (Unit of Production) depreciation method using the Proved Developed Reserve portion, IDC – UOP depreciation method using the Proved Developed Reserve portion, Platforms – UOP depreciation method using the Proved Developed Reserve portion, Field Facilities – UOP depreciation method using the Proved Developed Reserve portion, ARO Assets – UOP depreciation method using the Proved Developed Reserve portion, Gas Plants – Straight Line Method based on committed field of production life or particular number of years or UOP Method using the Proved Developed Reserve portion, Support Facilites – Straight Line Method based on committed field of production life or particular number of years or UOP Method using the Proved Developed Reserve portion, Deferred Tax – Respective Amortized method can be followed, Undeveloped Leasehold – Straight-line amortization method can be used over the lease term that is applicable for particular cases. Company Watch - Honeywell Significant areas in the new rules include standards for (1) the revised unit of property ( UOP ) definitions for real and personal property, (2) improvements to property, and (3) modifications to the rules for dispositions of property. RMLC – Request for Mineral Land Clearance, ROB – Received On Board (Used for Fuel / Water received in bunkering operations), ROV/WROV – Remotely Operated Vehicle/WorkClass Remotely Operated Vehicle, used for, RPM – Revolutions Per Minute, (Rotations Per Minute), RSES – Responsible for Safety and Environment on Site, RSPP – a publicly traded, oil and gas producer focused on horizontal drilling of multiple stacked pay zones in the oil-rich Permian Basin, RST – Reservoir Saturation Tool (Schlumberger) Log, RTTS – Retrievable Test-Treat-Squeeze (packer), SAFE – Safety Analysis Function Evaluation, SCADA – Supervisory Control and Data Acquisition, SCBA – Self-Contained Breathing Apparatus, SCUBA – Self-Contained Underwater Breathing Apparatus, SCF – standard cubic feet (of natural gas), SCM(MB) – Subsea Control Module (Mounting Base), SDT – Step Draw-down Test (sometimes SDDT), SEA – Strategic Environmental Assessment (United Kingdom), Semi (or Semi-Sub) – Semi-Submersible Drilling Rig, SFERAE – Global Association for the use of knowledge on Fractured Rock in a state of Stress, in the field of Energy, Culture and Environment, SGSI – Shell Global Solutions International, SHDT – Stratigraphic High Resolution Dipmeter Tool, SIF – Safety Instrumented Functions (Test), SIGTTO – Society of International Gas Tanker and Terminal Operators, SIPCOM - Simultaneous Production & Commissioning, SIPES – Society of Independent Professional Earth Scientists, United States, SIPROD - Simultaneous Production & Drilling, SITHP – Shut In Tubing Hanger/Head Pressure (another term for CITHP), SMPC – Subsea Multiphase Pump: Pump, which can increase flowrate and pressure of the untreated wellstream, SPAMM – Subsea Pressurization and Monitoring Manifold, SPHL – Self Propelled Hyperbaric Lifeboats, SPM – Strokes Per Minute (of a positive-displacement pump), SPM – Shots per meter (when perfing in metric units), SRD – Seismic Reference Datum, an imaginary horizontal surface at which TWT is assumed to be zero, SS – Subsea, as in a datum of depth, e.g. In some cases, especially in the measurement of oil and gas, petroleum refers only to oil—a liquid hydrocarbon—and does not include natural gas or gas liquids such as propane and butane. Depreciation is actually a reduction in the value of an asset with the passage of time, particularly due to wear and tear. The petroleum industry, also known as the oil industry or the oil patch, includes the global processes of exploration, extraction, refining, transporting (often by oil tankers and pipelines), and marketing of petroleum products.The largest volume products of the industry are fuel oil and gasoline (petrol). chemistry, technology, lubricant. Oil and gas wells produce a mixture of hydrocarbon gas, condensate or oil; water with dissolved minerals, usually including a large amount of salt; other gases, including nitrogen, carbon dioxide (CO 2), and possibly hydrogen sulfide (H 2 S); and solids, including sand from the reservoir, dirt, scale, and corrosion products from the tubing. Capitalized Interest – Leasehold & Non – Leasehold. This acts to lower the hydrostatic pressure at the bottom of the tubing, reducing its density. Definitions by the largest Idiom Dictionary. top drive), DFI – Design, Fabrication and Installation résumé, DFIT – Diagnostic Fracture Injection Test, DG/DG# – Diesel Generator ('#'- means identification letter ou number of the equipment i.e. Proved property costs are generally depleted using the UOP method. ), boed – barrel(s) of oil equivalent per day, boepd – barrel(s) of oil equivalent per day, BOTTO – bottom hole pressure/temperature report, BPV – back pressure valve (goes on the end of coiled tubing a drill pipe tool strings to prevent fluid flow in the wrong direction), BRT – below rotary table (used as a datum for depths in a well), BSEE – US: Bureau of Safety and Environmental Enforcement, BTEX – benzene, toluene, ethyl-benzene and xylene, BTO/C – break to open/close (valve torque), bwd – barrels of water per day (often used in reference to, CAAF – Contract Authorization Approval Form, CAODC – Canadian Association of Oilwell Drilling Contractors, CART – cam-actuated running tool (housing running tool), CCL – casing collar locator (in perforation or completion operations, the tool provides depths by correlation of the casing string's magnetic anomaly with known casing features), CCLBD – Construction / Commissioning Logic Block Diagram, CCLTP – casing collar locator through tubing plug, CDRCL – compensated dual resistivity cal. A petroleum reservoir or oil and gas reservoir is a subsurface pool of hydrocarbons contained in porous or fractured rock formations. 1. UOP. MEST – Micro-electrical scanning tool (a dipmeter, aka. Mostly coming from user contributions, it is contextual and is meant for indicative purposes only. Lease Amortization, Amortization of proved reserve etc. UOP stands for Unit of Production (depreciation method) Suggest new definition This definition appears somewhat frequently and is found in the following Acronym Finder categories: Gas lifts use the artificial lift method by injecting gas into the production tubing to raise water or oil. IWOCS – Installation / Workover Control System, JVP – Joint Venture Partners/Participants, KBE – Kelly Bushing Elevation (in meters above sea level, or meters above Ground Level), KBUG – Kelly Bushing under ground (drilling up in coal mines, West Virginia, Baker & Taylor Drilling), KBG – Kelly Bushing Height above Ground Level, LDS – Leak Detection System (pipeline monitoring), LINCO – Liner and Completion Progress Report, LOA – Letter of Authorisation/Agreement/Authority, LOGGS – Lincolnshire Offshore Gas Gathering System, LOLER – Lifting Operations and Lifting Equipment Regulations, LTI(FR) – Lost Time Incident (Frequency Rate). The company's roots date back to 1914, when the revolutionary Dubbs thermal cracking process created the technological foundation for today's modern … Examples include Anadarko Petroleum, Sunoco, Phillips 66, ConocoPhillips, and Murphy Oil . (For BOP test). Usually a combination of labor, equipment, and/or other support services. Petroleum reservoirs are broadly classified as conventional and unconventional reservoirs. MST or FMS). The oil and gas industry uses many acronyms and abbreviations.. Gas definition: Gas is a substance like air that is neither liquid nor solid and burns easily . Natural gas liquids (NGLs) are hydrocarbons—in the same family of molecules as natural gas and crude oil, composed exclusively of carbon and hydrogen. van Dijk, J.P. (1998); Analysis and modelling of fractured reservoirs. It is probably the most important part of the lease to the landowner. Learn more. UOP, a subsidiary of Honeywell, plans to launch a comprehensive test program for renewable jet fuel. Process of decreasing, or accounting for, an amount over a i.e! Also referred to as the UOP K factor or just UOPK – liner shaker, tensile bolting,...: Depreciation for a building or plant or machinery, vehicle etc panel backing PUQ... Product of a product that a company, sector, uop meaning oil and gas accounting for an... 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