Collective term for hydrocarbons. The term covers all liquid and gaseous hydrocarbons found in a natural state in the substrate, and also other substances recovered in connection with such hydrocarbons.

 Petroleum (Exploitation and Production) Act 1992  concerning Petroleum Activities.

All activity linked to subsea petroleum deposits, including investigation, exploratory drilling, recovery, transport, utilisation and termination, and also the planning of such activities, but not the transportation of petroleum in bulk by ship.

An accumulation of petroleum in a geological unit, delimited by rock types at structural or stratigraphical boundaries, contact surfaces between petroleum and water in the formation, or a combination of these, such that the petroleum concerned is everywhere in pressure communication through liquid or gas.

Plan for Installation and Operation.

A geographically and stratigraphically delimited area where a specific set of geological factors is present so that petroleum should be able to be proven in producible volumes. Such geological factors are a reservoir rock, trap, mature source rock, migration routes, and that the trap was formed before the migration of petroleum ceased. All discoveries and prospects in the same play are characterised by the play's specific set of geological factors.

Describes the feasibility of proving petroleum in a prospect by drilling. The probability of discovery results from multiplying the probabilities of the existence of the play, the presence of a reservoir, a trap, the migration of petroleum into the field and the preservation of petroleum in the field (see Play).

This licence gives a monopoly to perform investigations, exploration drilling and recovery of petroleum deposits within the geographical area stated in the licence. The licensees become owners of the petroleum that is produced. A production licence may cover one or more blocks or parts of blocks and regulates the rights and obligations of the participant companies with respect to the Government. The document supplements the provisions of the Petroleum Act and states detailed terms for the individual licences. Exploration period: At the outset, the production licence is awarded for an initial period (exploration period) that may last up to 10 years. In this period, the licensees are obliged to carry out specific tasks, such as seismic surveying and/or exploration drilling. If these mandatory tasks are fulfilled within the exploration period, the licensees may, in principle, demand to retain up to half the area covered by the award for up to 30 years.

Collective term for wells used to recover petroleum, including injection wells, observation wells and possible combinations of these.

A possible petroleum trap with a mappable, delimited volume of rock.

In accordance with Section 22(3) of the Petroleum E&P Act 1986 which states that, “the Minister may specify in a petroleum prospecting license an initial period not exceeding six months as the preparation period to enable the licensee to make the necessary preparation to carry on prospecting operations”.