Technology for increasing or prolonging the productivity of oil and gas fields. This is a special field of activity and research in the oil and gas industry.
A plastics-forming process in which molten plastic is forced into a mold under pressure and allowed to solidify.
A well used to inject gas or water into the reservoir in order to maintain reservoir pressure in secondary recovery projects or for conservation purposes.
An oil well pumping unit that operates with an up-and-down, or seesawing, motion; also called a pumping jack.
The steel lattice structure that supports an offshore platform.
An offshore platform constructed entirely of steel. Such platforms generally are held in position by long steel piles driven deep into the seabed.
A type of mobile offshore platform with retractable legs that stand on the seabed to help support the drilling platform.
An investment undertaken by a consortium of companies, usually with one member acting as operator.
A medium-light distillate from the oil refining process; used for lighting and heating, and for the manufacture of fuel for jet and turbo-prop aircraft engines.
Branded copolymer resin used to produce clear packaging materials, cups, water bottles, toys and shower doors.
Low-density linear polyethylene. A strong, clear film ideal for packaging.
The legal contract that specifies the terms and conditions of the business relationship between an oil company and the landowner or mineral rights holder on a particular tract.
An agreement in which a national government gives an oil company the rights to explore for and produce oil and/or gas in a designated area.
A section of continental shelf area in a particular national sector bounded by latitude and longitude lines, generally at one-degree intervals; a license block is usually sub-divided into smaller areas.
A stage in the allocation of offshore licenses in which a state places a number of specified areas in its sector on offer to oil companies at one time.
Crude oil with a high API gravity due to the presence of a high proportion of light hydrocarbon fractions.
Unloading cargo from large marine tankers into smaller tankers that can enter shallow-water ports.
Usually a dark brown substance that is the lowest rank of coal.
Liquefied Natural Gas (LNG)
Natural gas liquefied either by refrigeration or by pressure to facilitate storage or transportation.
Liquefied Petroleum Gas (LPG)
A mixture of butane, propane and other light hydrocarbons derived from refining crude oil. At normal temperatures it is a gas, but it can be cooled or subjected to pressure to facilitate storage and transportation.
An aggregate of crude oil and natural gas liquids; also known as hydrocarbon liquids.
Linear low-density polyethylene. A strong, clear film ideal for packaging and one of the fastest-growing plastics lines
A field that may not produce enough net income to make it worth developing at a given time; should technical or economic conditions change, such a field may become commercial.
Located 163 miles offshore Aberdeen, Scotland, Maureen is the world’s first large re-usable platform — and is currently for sale. Like all of Phillips’ U.K. fields, Maureen was named after the wife of the geoscientist who discovered the field.
The abbreviation for “thousand cubic feet,” the standard measure for natural gas.
The depth of the well measured along the wellbore. Also called logged or driller’s depth.
Compounds of carbon, hydrogen and sulfur found in sour crude and gas; the lower mercaptans have a strong, repulsive odor and are used, among other things, to odorize natural gas.
Precision catalysts that provide extended manufacturing control over the molecular structure and properties of polyethylene. When used to manufacture linear low-density polyethylene (LLDPE), the result is a film of exceptional clarity and strength that is ideal for food packaging.
The key ingredients in the company’s proprietary metallocene catalyst.
The principal constituent of natural gas.
A sulfur-based chemical used primarily to produce methionine (a food supplement for poultry) and agricultural chemicals.
Methyl Tertiary Butyl Ether (MTBE)
A lead-free, anti-knock additive for gasolines.
Phillips’ corporate mission is to provide superior financial returns for its shareholders.
Million cubic feet per day.
A simple molecular unit (such as ethylene or styrene) from which a polymer can be made.
Refined lubricating oil, usually containing additives.