Registration document 2011 - tota - Total.com

MTO/OCP
MTO (Methanols to Olefins) involves the conversion of methanol
into olefins. OCP (olefin cracking process) is then used to convert
these olefins into plastics.
N
Naphta
Heavy gasoline used as a base in petrochemicals.
Natural gas
Mixture of gaseous hydrocarbons, composed mainly of methane.
O
Oil and gas exploration
All operations carried out to reveal the existence of oil and gas
deposits.
Olefins
Products (gas) obtained after cracking of petroleum streams.
Olefins are ethylene, propylene and butadiene. These products are
used in the production of large plastics (polyethylene, polypropylene,
PVC, etc.), elastomers (polybutadiene, etc.) and large chemical
intermediates.
Operated production
Quantity of oil and gas produced on fields operated by an oil
company.
Operator
Partner of an oil and gas joint venture in charge of carrying out
the operations on a specific area on behalf of the joint venture.
A refinery is also said to be operated by a specific partner when
the operations are carried out by the partner on behalf of all the
partners of the joint venture that owns the refinery.
P
Permit
Area contractually granted to an oil and gas company (or a joint
venture) by the host country for a defined period. The permit grants
the oil and gas company (or joint venture) exclusive rights to carry
out exploration work (“exploration” permit) or to exploit a deposit
(“exploitation” permit).
Petcoke (or petroleum coke)
Residual product remaining after the improvement of very heavy
petroleum cuts. This solid black product consists mainly of carbon
and can be used as fuel in a manner similar to steam coal.
Polymers
Molecule composed of monomers bonded together by covalent
bonds such as starch and proteins. They are generally organic
(DNA), artificial or synthetic (such as polystyrene). Polyolefins
represent the largest family of polymers.
Production plateau
Expected average stabilized level of production for a field following
the production build-up.
Production Sharing Contract (PSA, PSC)
Exploration and production contract by which a host country or,
more frequently, its national company, transfers to an oil & gas
company (the contractor) or a group of oil and gas companies
(the contractor group) the right to explore in a given area and, if
successful, to develop and produce the reserves of the discovered
deposits. The contractor (contractor group) shall undertake the
execution and financing (as its exclusive risk) of all operations.
In return, it is entitled to a portion of the production, called cost
oil/gas, for the recovery of the costs. The remaining production,
called profit oil/gas, is shared between the contractor (contractor
group) and the national company (and/or the host country).
Proved and probable reserves (2P reserves)
Sum of proved reserves and probable reserves. The 2P reserves
are the median quantities of oil and gas recoverable from fields
that have been drilled, covered by E&P contracts and for which
technical studies have demonstrated economic development in
a long-term price environment. They also include projects to be
developed by mining.
Proved permit
Permit for which there are proved reserves.
Proved reserves (1P reserves)
Estimated quantities of crude oil and natural gas that geologic
and engineering data show, with reasonable certainty (90%)
to be recoverable in the coming years from known reservoirs
under existing contract, economic and operating conditions:
– Developed proved reserves are those that can be recovered with
existing facilities and without significant additional investment;
– Undeveloped proved reserves are those that can be recovered
with new investments (surface facilities, wells, etc.).
R
Refining
The various processes used to produce petroleum products from
crude oil (distillation, reforming, desulphurization, cracking, etc.).
Renewable energies
An energy source whose inventories can be renewed or are
inexhaustible, such as solar, wind, hydraulic, biomass and
geothermal energy.
Reserve life
Ratio of reserves at the end of the year to the production sold
during the past year.
Reserves
Reserves are estimated remaining quantities of oil and gas and
related substances anticipated to be economically producible,
as of a given date, by application of development projects to
known accumulations.
Reservoirs
Porous, permeable underground rock formation that contains oil
or natural gas.
Resources
Sum of proved and probable reserves and contingent resources
(mean quantities potentially recoverable from known accumulations)
– Society of Petroleum Engineers – 03/07.
Registration Document 2011. TOTAL 347