OOIP definition

OOIP or “Original Oil In Place” means the quantity of petroleum which is estimated to be contained in known accumulations
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OOIP means original oil in place.
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Examples of OOIP in a sentence

  • Initial production upgrade projects include: · Restoring production to shut-in ▇▇▇▇▇ such as the two Rimu oil ▇▇▇▇▇; · Workover operations such as removing fluid and solids build up with coiled tubing; · Reducing the frequency of production shut down at the Manutahi D pilot plant by connecting additional (existing) tanks The oil in the Manutahi field is in a good quality reservoir at modest depth of 1,100m and had OOIP of 30 million barrels*.

  • Initial production upgrade projects include:  Restoring production to shut-in ▇▇▇▇▇ such as the two Rimu oil ▇▇▇▇▇;  Workover operations such as removing fluid and solids build up with coiled tubing;  Reducing the frequency of production shut down at the Manutahi D pilot plant by connecting additional (existing) tanks The oil in the Manutahi field is in a good quality reservoir at modest depth of 1,100m and had OOIP of 30 million barrels*.

Related to OOIP

  • FOIP means the Freedom of Information and Protection of Privacy Act,

  • CIP shall have the meaning set forth in Section 25.4 of this Agreement.

  • Matrix (1 2 8 9) means a substantially continuous phase that fills the space between particles, whiskers or fibres.

  • MCIP means (i) the joint county industrial park established pursuant to the terms of the MCIP Agreement and (ii) any joint county industrial park created pursuant to a successor park agreement delivered by the County and a partner county in accordance with Section 4-1-170 of the MCIP Act, or any successor provision, with respect to the Project.

  • Dynamic driving task means the same as that term is defined in Section 41-26-102.1.