Glossary
- PECProduction enhancement contract
- Platform
An offshore structure that is permanently fixed to the seabed.
- PLCPublic Limited Company
- PMCProject management contractor - managing an external construction contractor to construct a facility.
- Possible reservesThose reserves which at present cannot be regarded as ’probable’ but are estimated to have a significant, but less than 50% chance of being technically and economically producible.
- Primary recovery
Recovery of oil or gas from a reservoir purely by using the natural pressure in the reservoir.
- Proven fieldAn oil or gas field with determined estimated reserves
- PSPPerformance share plan