Let’s look at some typical example of assets involved in the Exploration & Production (E&P) Companies: How the DD&A come into application for the related assets: Generally upstream majors utilize the DD & A for their respective assets or things in a way according to their prescribed guidelines, procedures and policies. PL006, 018, 067, 2–3 Dec 1996, NPD Stavanger, Extended Abstracts. This acts to lower the hydrostatic pressure at the bottom of the tubing, reducing its density. MM or mm – prefix designating a number in millions (or SI unit – millimetre), MMboe – million barrels of oil equivalent, MMboed – million barrels of oil equivalent per day, MMcf – million cubic feet (of natural gas), MMcfe – million cubic feet (of natural gas equivalent), MMcfge – million cubic feet (of natural gas equivalent), mmscfd – million standard cubic feet per day, MODU – Mobile Offshore Drilling Unit (Either of Jack-up Drill Rig or Semi-submersible Rig or Drill Ship), MOPU – Mobile Offshore Production Unit (to describe: Jack-up Production Rig, or Semi-submersible Production Rig, or Floating Production and or storage ship - See also FPO and FPSO definitions, MOT – Materials/Marine Offloading Terminal, MPQT – Manufacturing Procedure Qualification Test, MPS – Manufacturing Procedure Specification, MPSP — Maximum Predicted Surface Pressure, MRX – Magnetic resonance expert (wireline. Amortization is the process of decreasing, or accounting for, an amount over a period i.e. Upstream, or exploration and production (E&P) companies, find reservoirs and drill oil and gas … For example: Depreciation for a building or plant or machinery, vehicle etc. Lease Amortization, Amortization of proved reserve etc. For example: Depletion for oil and gas wells i.e. A petroleum reservoir or oil and gas reservoir is a subsurface pool of hydrocarbons contained in porous or fractured rock formations. ), PUQ – Production Utilities Quarters (Platform), PVTRE – Pressure Volume Temperature Report, PWD – Pressure While Drilling. The gas injected is high-pressure gas by adding bubbles of compressed air and vapor. M or m – prefix designating a number in thousands (not to be confused with SI prefix M for, MAASP – Maximum Acceptable [or Allowable] Annular Surface Pressure, MAOP – Maximum Allowable Operating Pressure, MAWP – Maximum Allowable Working Pressure, Mboe – thousand barrels of oil equivalent, Mboed – thousand barrels of oil equivalent per day, Mcfe – thousand cubic feet of natural gas equivalent, MDRT – Measured Depth referenced to Rotary Table zero datum, MDSS – Measured Depth referenced to Mean Sea Level zero datum - "Sub Sea" level, MDR – Mud Damage Removal (acid bullheading), MEIC – Mechanical Electrical Instrumentation Commission, MERG – Merge FDC/CNL/Gamma Ray/Dual Laterolog/Micro SFL Log. Energy. Copy Chart of Depreciation – Transaction Code: EC08, Define Chart of Depreciation and depreciation areas – Transaction Code: OAOB, Assign Chart of Depreciation to Company code – Transaction Code: OAOB, Define how depreciation areas post to General Ledger – Transaction Code: OADX, Assign the General Ledger Accounts – Transaction Code: AO90, Maintain Depreciation keys & activate them – Transaction Code: AFAMA, Specify document type for posting depreciation – Transaction Code: AO71, Determine Depreciation Areas in the Asset Class – Transaction Code: OAYZ, Define Unit-of-Production Depreciation – Transaction Code – AO25 (This is UOP Method and is used to update the quantities for respective company codes for appropriate depreciation key). To connect the Xmas Tree to the Manifold, HiPAP – High Precision Acoustic Positioning, HIPPS – High Integrity Pressure Protection System, HIRA – Hazard Identification and Risk Assessment, HNGS – flasked Hostile Natural Gamma-ray Spectrometry tool, HPAM - Partially Hydrolyzed Polyacrylamide, HPHT – High-Pressure High Temperature (same as HTHP), HRLA – High-Resolution Laterolog Array (resistivity logging tool), HTHP – High-Temperature High Pressure (same as HPHT), HWDP – Heavy-Weight Drill Pipe (sometimes spelled Hevi-Wate), HUET – Helicopter Underwater Escape Training, HVAC – Heating, Ventilation and Air-Conditioning, ICoTA – Intervention and Coiled Tubing Association, ICC – Isolation Confirmation (or Control) Certificate, ICEX;IECEx – International Electrotechnical Commission System for Certification to Standards relating to equipment for use in Explosive Atmospheres (EEHA), ICSS – Integrated Controls and Safety System, ICSU – Integrated Commissioning and Start-Up, ICV – Integrated Cement Volume (of Borehole)(in Cubic Metres), ID – Inner or Internal Diameter (of a tubular component such as a, IHEC – Isolation of Hazardous Energy Certificate, IHUC – Installation, Hook-Up and Commissioning, IHV – Integrated Hole Volume (of Borehole) (in Cubic Metres), IMPP – Injection Molded Polypropylene Coating System, IOM – Installation, Operation and Maintenance Manual, ISFP – ISF Sonic True Vertical Depth Playback Log, ISFPB – ISF True Vertical Depth Playback Log. 1. 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). The company's roots date back to 1914, when the revolutionary Dubbs thermal cracking process created the technological foundation for today's modern … 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. 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. It is the first stage in oil or gas production, followed by the midstream and downstream segments. from rod equipment to casing equipment), cP – centiPoise (Viscosity unit of measurement), CPI separator – corrugated plate interceptor. 3, Springer-Verlag, Heidelberg, 267–280. reduction in the value however these terms are being used for different purposes. The oil and gas industry, also referred to as the petroleum industry, consists of all the various worldwide efforts to extract hydrocarbons from the earth, and process them into useful substances. ), 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. 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: Buildings, Vehicles, Plant, Machinery, Software, Hardware, Furniture etc. MST or FMS). UOP. LTP – liner shaker, tensile bolting cloth, perforated panel backing. Oil and gas leases contain a royalty clause. MSI – Mechanical and Structural Inspection, MSIP – Modular Sonic Imaging Platform (Sonic Scanner), MT – Motor Temperature; DMT Parameter for ESP motor, NASA – Non Active Side Arm (term used in the, NEFE – Non Emulsifying Iron Inhibitor (usually used with hydrochloric acid), NFG – 'No Fucking Good' used for marking damaged equipment, not to be confused with NG being natural gas, NGDC – National Geoscience Data Centre (United Kingdom), NGRC – National Geological Records Centre (United Kingdom), NHDA – National Hydrocarbons Data Archive (United Kingdom), NMVOC – Non-Methane Volatile Organic Compounds, NORM – Naturally Occurring Radioactive Material, NP – Non Producing well (as opposed to P – Producing well), NPSH(R) – Net Positive Suction Head (Required), NUBOP - Nipple (ed),(ing) Up Blow Out Preventer, NUMAR – Nuclear and Magnetic Resonance - Image Log see also NMR, OCTG – Oil Country Tubular Goods (oil well casing, tubing, and drill pipe), OD – Outer Diameter (of a tubular component such as, OFIC – Offshore Interim Completion Certificate, ONAN – Oil Natural Air Natural cooled transformer, ONNR – Office of Natural Resources Revenue (formerly MMS), OOE – Offshore Operation Engineer (senior technical authority on an offshore, OPITO – Offshore Petroleum Industry Training Organization, ORM – Operability Reliability Maintainability, OTIP – Operational Testing Implementation Plan, OVID – Offshore Vessel Inspection Database, P – Producing well (as opposed to NP – Non Producing), PA – Producing Asset with Exploration Potential, PACO – Process, Automation, Control And Optimisation, PADPRT – Pressure Assisted Drillpipe Running Tool, PBR – Polished Bore Receptacle (component of a, PBU – Pressure Build Up (applies to integrity testing on valves), PCCC – Pressure Containing anti‐Corrosion Caps, PCCL – Perforation Casing Collar Locator Log, PCDC – Pressure Cased Directional (Geometry i.e. Naturally in crude oil and gas production, which is free of tubing., Depletion & amortization term DD & a stands for Depreciation, Depletion & amortization acronyms and.! 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