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70-722: North Sea oil is a mixture of hydrocarbons , comprising liquid petroleum and natural gas , produced from petroleum reservoirs beneath the North Sea . In the petroleum industry , the term "North Sea" often includes areas such as the Norwegian Sea and the area known as "West of Shetland", "the Atlantic Frontier" or "the Atlantic Margin" that is not geographically part of the North Sea. Brent crude
140-588: A Jurassic sandstone / shale reservoir 1829 m deep in a " fault-bounded anticlinal trap", was discovered in 1976 with well 11/30-1, drilled by the Mesa Petroleum Group (named after T. Boone Pickens' wife Bea, "the only oil field in the North Sea named for a woman") in 49 m of water. Volatile weather conditions in Europe's North Sea have made drilling particularly hazardous, claiming many lives (see Oil platform ). The conditions also make extraction
210-689: A 24.3% owner of DuPont. By 1995, Seagram was DuPont's largest single shareholder with four seats on the board of directors. In 1998, DuPont sold 30% of Conoco, and in 1999, DuPont sold the remaining 70% stake it holds in Conoco Inc. When the independent Conoco went public in October 1998, under a retooled name, Continental Oil Company, it resulted in the largest IPO in history. In 2001, Conoco announced it has agreed to buy Gulf Canada for C$ 6.7 billion ($ 4.3 billion). Conoco merged with Phillips Petroleum in 2002 to form ConocoPhillips . Before
280-414: A common thermoplastic material. Addition reactions apply to alkenes and alkynes. It is because they add reagents that they are called unsaturated. In this reaction a variety of reagents add "across" the pi-bond(s). Chlorine, hydrogen chloride, water , and hydrogen are illustrative reagents. Polymerization is a form of addition. Alkenes and some alkynes also undergo polymerization by opening of
350-509: A costly process; by the 1980s, costs for developing new methods and technologies to make the process both efficient and safe far exceeded NASA 's budget to land a man on the moon. The exploration of the North Sea has continually pushed the edges of the technology of exploitation (in terms of what can be produced) and later the technologies of discovery and evaluation (2-D seismic, followed by 3-D and 4-D seismic ; sub-salt seismic; immersive display and analysis suites and supercomputing to handle
420-693: A depth of 3000 m subsea in a "westward tilted horst block". Offshore production, like that of the North Sea, became more economical after the 1973 oil crisis caused the world oil price to quadruple, followed by the 1979 oil crisis , which caused another tripling in the oil price. Oil production started from the Argyll & Duncan Oilfields (now the Ardmore) in June 1975 followed by Forties Oil Field in November of that year. The inner Moray Firth Beatrice Field,
490-426: A double bond between carbon atoms are sometimes referred to as 'olefins'. The predominant use of hydrocarbons is as a combustible fuel source. Methane is the predominant component of natural gas. C through C alkanes, alkenes, cycloalkanes, and aromatic hydrocarbons are the main components of gasoline , naphtha , jet fuel , and specialized industrial solvent mixtures. With the progressive addition of carbon units,
560-532: A second wave of exploration from 1953 to 1961 found the Gainsborough field and ten smaller fields. The Netherlands' first oil shows were seen in a drilling demonstration at De Mient during the 1938 World Petroleum Congress at The Hague. Subsequent exploration led to the 1943 discovery by Exploratie Nederland, part of the Royal Dutch/Shell company Bataafsche Petroleum Maatschappij, of oil under
630-471: A similar period energy from gas imports have risen by a factor of approximately 10, from 60GWh in 2001 to just over 500GWh in 2019. UK oil production has seen two peaks, in the mid-1980s and the late 1990s, with a decline to around 300×10 m³ (1.9 million barrels) per day in the early 1990s. Monthly oil production peaked at 13.5×10 m³ (84.9 million barrels) in January 1985 although the highest annual production
700-529: A single C–C bond it is alkane metathesis , for a double C–C bond it is alkene metathesis (olefin metathesis), and for a triple C–C bond it is alkyne metathesis . The vast majority of hydrocarbons found on Earth occur in crude oil , petroleum, coal , and natural gas. Since thousands of years they have been exploited and used for a vast range of purposes. Petroleum ( lit. ' rock oil ' ) and coal are generally thought to be products of decomposition of organic matter. Coal, in contrast to petroleum,
770-473: A takeover of Conoco. Although Seagram acquired a 32.2% stake in Conoco, DuPont was brought in as a white knight by the oil company and entered the bidding war. Mobil Corporation, the nation's second-largest oil company at the time, also joined the bid, and borrowed $ 5 billion to bid for Cocono. In the end, Seagram and Mobil lost out in the Conoco bidding war. In exchange for its stake in Conoco Inc, Seagram became
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#1732772298432840-468: A two neutral radical atoms ( homolytic fission ). all the way to CCl 4 ( carbon tetrachloride ) all the way to C 2 Cl 6 ( hexachloroethane ) Aromatic compounds, almost uniquely for hydrocarbons, undergo substitution reactions. The chemical process practiced on the largest scale is the reaction of benzene and ethene to give ethylbenzene : The resulting ethylbenzene is dehydrogenated to styrene and then polymerized to manufacture polystyrene ,
910-492: Is 1.4 mbpd. This is a more than 50% decline since the peak in 2001 of 3.2 mbpd. The geological disposition of the UK's oil and gas fields is outlined in the following table. Kittiwake, Gannet Middle: Brent, Bruce, Eider, Heather, Hutton, Ninian, Tern Lower to Middle: Beatrice Dotty, Douglas, Esmond, Hamilton, J-Block, Morecambe Bay Lower: Hewett Lower Permian (Rotliegend): Camelot, Indefatigable, Leman, Viking, West Sole In
980-696: Is also potential to harvest hydrocarbons from plants like Euphorbia lathyris and E. tirucalli as an alternative and renewable energy source for vehicles that use diesel. Furthermore, endophytic bacteria from plants that naturally produce hydrocarbons have been used in hydrocarbon degradation in attempts to deplete hydrocarbon concentration in polluted soils. Saturated hydrocarbons are notable for their inertness. Unsaturated hydrocarbons (alkanes, alkenes and aromatic compounds) react more readily, by means of substitution, addition, polymerization. At higher temperatures they undergo dehydrogenation, oxidation and combustion. The cracking of saturated hydrocarbons
1050-517: Is an American petroleum brand that is operating under the ownership of the Phillips 66 Company since 2012 and is headquartered in Houston , Texas . One of the several successors of Standard Oil , Conoco was a subsidiary of that company from 1884 until its 1911 divestiture when the U.S. Supreme Court ruled to decouple the monopolized entity. Alongside Phillips 66 and 76 , it operates as one of
1120-400: Is called autoxidation , begins with the formation of hydroperoxides (ROOH). Combustion of hydrocarbons is currently the main source of the world's energy for electric power generation , heating (such as home heating), and transportation. Often this energy is used directly as heat such as in home heaters, which use either petroleum or natural gas . The hydrocarbon is burnt and the heat
1190-482: Is estimated at more than 58 million metric tons, which will increase to 60 million tons in 2022. Hydrocarbons are also prevalent in nature. Some eusocial arthropods, such as the Brazilian stingless bee, Schwarziana quadripunctata , use unique cuticular hydrocarbon "scents" in order to determine kin from non-kin. This hydrocarbon composition varies between age, sex, nest location, and hierarchal position. There
1260-675: Is minor relative to the overall running costs. Hydrocarbon In organic chemistry , a hydrocarbon is an organic compound consisting entirely of hydrogen and carbon . Hydrocarbons are examples of group 14 hydrides . Hydrocarbons are generally colourless and hydrophobic ; their odor is usually faint, and may be similar to that of gasoline or lighter fluid . They occur in a diverse range of molecular structures and phases: they can be gases (such as methane and propane ), liquids (such as hexane and benzene ), low melting solids (such as paraffin wax and naphthalene ) or polymers (such as polyethylene and polystyrene ). In
1330-578: Is often difficult to forecast future discoveries. Official production data from 1995 to 2020 is published by the UK government. Table 3.10 lists annual production, import and exports over that period. When it peaked in 1999, production of North Sea oil was 128 million tonnes per year, approx, 950,000 m³ (6 million barrels ) per day, having risen by ~ 5% from the early 1990s. However, by 2010 this had halved to under 60 million tonnes/year, and continued declining further, and between 2015 and 2020 has hovered between 40 and 50 million tonnes/year, at around 35% of
1400-487: Is possible. Hydrocarbons are generally of low toxicity, hence the widespread use of gasoline and related volatile products. Aromatic compounds such as benzene and toluene are narcotic and chronic toxins, and benzene in particular is known to be carcinogenic . Certain rare polycyclic aromatic compounds are carcinogenic. Hydrocarbons are highly flammable . Conoco Conoco ( / ˈ k ɒ n ə k oʊ / KON -ə-koh ), formerly known as Continental Oil ,
1470-463: Is richer in carbon and poorer in hydrogen. Natural gas is the product of methanogenesis . A seemingly limitless variety of compounds comprise petroleum, hence the necessity of refineries. These hydrocarbons consist of saturated hydrocarbons, aromatic hydrocarbons, or combinations of the two. Missing in petroleum are alkenes and alkynes. Their production requires refineries. Petroleum-derived hydrocarbons are mainly consumed for fuel, but they are also
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#17327722984321540-447: Is still used today as a standard benchmark for pricing oil, although the contract now refers to a blend of oils from fields in the northern North Sea. From the 1960s to 2014 it was reported that 42 billion barrels of oil equivalent (BOE) had been extracted from the North Sea since when production began. As there is still an estimated 24 billion BOE potentially remaining in the reservoir (equivalent to about 35 years worth of production),
1610-616: Is the main industrial route to alkenes and alkyne . These reactions require heterogeneous catalysts and temperatures >500 °C. Widely practice conversions of hydrocarbons involves their reaction with oxygen. In the presence of excess oxygen, hydrocarbons combust. With, however, careful conditions, which have been optimized for many years, partial oxidation results. Useful compounds can obtained in this way: maleic acid from butane , terephthalic acid from xylenes , acetone together with phenol from cumene (isopropylbenzene), and cyclohexanone from cyclohexane]]. The process, which
1680-398: Is the paucity of enzymes that act on them. Nonetheless, the area has received regular attention. Bacteria in the gabbroic layer of the ocean's crust can degrade hydrocarbons; but the extreme environment makes research difficult. Other bacteria such as Lutibacterium anuloederans can also degrade hydrocarbons. Mycoremediation or breaking down of hydrocarbon by mycelium and mushrooms
1750-499: Is the world's busiest, with 500,000 passengers per year. Following the 1958 Convention on the Continental Shelf and after some disputes on the rights to natural resource exploitation the national limits of the exclusive economic zones were ratified. Five countries are involved in oil production in the North Sea. All operate a tax and royalty licensing regime. The respective sectors are divided by median lines agreed in
1820-597: Is used to heat water, which is then circulated. A similar principle is used to create electrical energy in power plants . Both saturated and unsaturated hydrocarbons undergo this process. Common properties of hydrocarbons are the facts that they produce steam, carbon dioxide and heat during combustion and that oxygen is required for combustion to take place. The simplest hydrocarbon, methane , burns as follows: In inadequate supply of air, carbon black and water vapour are formed: And finally, for any linear alkane of n carbon atoms, Partial oxidation characterizes
1890-514: The Conoco /National Coal Board well 49/17-1, finding the gas-bearing Permian Rotliegend Sandstone at a depth of 2,756 m subsea. Helicopters were first used to transport workers. Larger gas finds followed in 1966 – Leman Bank, Indefatigable and Hewett – but by 1968 companies had lost interest in further exploration of the British sector, a result of a ban on gas exports and low prices offered by
1960-447: The North Sea , Norway's Equinor natural-gas platform Sleipner strips carbon dioxide out of the natural gas with amine solvents and disposes of this carbon dioxide by geological sequestration (" carbon sequestration ") while keeping up gas production pressure. Sleipner reduces emissions of carbon dioxide by approximately one million tonnes a year; that is about 1 ⁄ 9000th of global emissions. The cost of geological sequestration
2030-510: The Norwegian Continental Shelf . Total reserves of the field are estimated at 1.7 to 3.3 billion barrels of gross recoverable oil, and Johan Sverdrup is expected to produce 120,000 to 200,000 barrels of oil per day. Production started on 5 October 2019. As of January 2015, the North Sea was the world's most active offshore drilling region, with 173 active rigs drilling. By May 2016, the North Sea oil and gas industry
2100-541: The Solar System . Lakes of liquid methane and ethane have been found on Titan , Saturn 's largest moon, as confirmed by the Cassini–Huygens space probe. Hydrocarbons are also abundant in nebulae forming polycyclic aromatic hydrocarbon compounds. Burning hydrocarbons as fuel, which produces carbon dioxide and water , is a major contributor to anthropogenic global warming . Hydrocarbons are introduced into
2170-454: The fossil fuel industries, hydrocarbon refers to naturally occurring petroleum , natural gas and coal , or their hydrocarbon derivatives and purified forms. Combustion of hydrocarbons is the main source of the world's energy. Petroleum is the dominant raw-material source for organic commodity chemicals such as solvents and polymers. Most anthropogenic (human-generated) emissions of greenhouse gases are either carbon dioxide released by
North Sea oil - Misplaced Pages Continue
2240-423: The 1999 peak. From 2005 the UK became a net importer of crude oil, and as production declined, the amount imported has slowly risen to ~ 20 million tonnes per year by 2020. Similar historical data is available for gas. Natural gas production peaked at nearly 10 trillion cubic feet (280×10 m³) in 2001 representing some 1.2GWhr of energy; by 2018 UK production had declined to 1.4 trillion cubic feet, (41×10 m³). Over
2310-842: The Dutch village of Schoonebeek , near the German border. NAM found the Netherlands' first gas in Zechstein carbonates at Coevorden in 1948. 1952 saw the first exploration well in the province of Groningen, Haren-1, which was the first to penetrate the Lower Permian Rotliegendes sandstone that is the main reservoir for the gas fields of the southern North Sea, although in Haren-1 it contained only water. The Ten Boer well failed to reach target depth for technical reasons, but
2380-629: The North Sea (onshore, West of Shetland). United Kingdom Continental Shelf production was 137 million tonnes of oil and 105 billion m³ of gas in 1999. (1 tonne of crude oil converts to 7.5 barrels). The Danish explorations of Cenozoic stratigraphy, undertaken in the 1990s, showed petroleum-rich reserves in the northern Danish sector, especially the Central Graben area. The Dutch area of the North Sea followed through with onshore and offshore gas exploration, and well creation. Exact figures are debatable, because methods of estimating reserves vary and it
2450-542: The North Sea will remain as an important petroleum reservoir for years to come. However, this is the upper end of a range of estimates provided by Sir Ian Wood (commissioned by the UK government to carry out a review of the oil industry in the United Kingdom ); the lower end was 12 billion barrels. Wood, upset with how his figures were being used, said the most likely amount to be found would be between 15 billion and 16 billion barrels. Commercial extraction of oil on
2520-540: The Norwegian North Sea alone (excluding smaller reserves in Norwegian Sea and Barents Sea) of which 2,778 million cubic metres (60%) has already been produced prior to January 2007. UK sources give a range of estimates of reserves, but even using the most optimistic "maximum" estimate of ultimate recovery, 76% had been recovered as of the end of 2010. Note the UK figure includes fields which are not in
2590-495: The burning of fossil fuels , or methane released from the handling of natural gas or from agriculture. As defined by the International Union of Pure and Applied Chemistry 's nomenclature of organic chemistry , hydrocarbons are classified as follows: The term 'aliphatic' refers to non-aromatic hydrocarbons. Saturated aliphatic hydrocarbons are sometimes referred to as 'paraffins'. Aliphatic hydrocarbons containing
2660-446: The company came during the 1970s oil crisis, from which it did not recover until 1981, when Conoco became a subsidiary of former rival DuPont . In 1981, Dome Petroleum made a tender offer for 20% of Conoco. More than 50% of Conoco shares were tendered, evidence that shareholders were unhappy, and several companies made their own tender offers to take over Conoco. Cash rich and wanting to diversify, Seagram Company Ltd. engineered
2730-595: The company. DuPont , who was conjured by Ralph Bailey (the CEO of Conoco at the time) was hired as a white knight and would eventually emerge triumphant defending Conoco from the two vendors. DuPont’s acquisition of Conoco at US$ 1.5 billion made it the largest merger in U.S. history at the time, surpassing that of Shell Oil ’s acquisition of the Belridge Oil Company at USD$ 3.5 billion in 1979. In 1998, DuPont and Conoco announced their intentions to split which
2800-768: The discovery of the giant Forties Oil Field in October 1970. The following year, Shell Expro discovered the giant Brent oilfield in the northern North Sea east of Shetland in Scotland and the Petronord Group discovered the Frigg gas field . The Piper oilfield was discovered in 1973 and the Statfjord Field and the Ninian Field in 1974, with the Ninian reservoir consisting of Middle Jurassic sandstones at
2870-524: The environment through their extensive use as fuels and chemicals as well as through leaks or accidental spills during exploration, production, refining, or transport of fossil fuels. Anthropogenic hydrocarbon contamination of soil is a serious global issue due to contaminant persistence and the negative impact on human health. When soil is contaminated by hydrocarbons, it can have a significant impact on its microbiological, chemical, and physical properties. This can serve to prevent, slow down or even accelerate
North Sea oil - Misplaced Pages Continue
2940-792: The first well followed later that year. It and a second well on the Mid North Sea High were dry, as the Rotliegendes was absent, but BP's Sea Gem rig struck gas in the West Sole Field in September 1965. The celebrations were short-lived since the Sea Gem sank, with the loss of 13 lives, after part of the rig collapsed as it was moved away from the discovery well. The Viking Gas Field was discovered in December 1965 with
3010-609: The flood of computation required). The Gullfaks oil field was discovered in 1978. The Snorre Field was discovered in 1979, producing from the Triassic Lunde Formation and the Triassic-Jurassic Statfjord Formation, both fluvial sandstones in a mudstone matrix. The Oseberg oil field and Troll gas field were also discovered in 1979. The Miller oilfield was discovered in 1983. The Alba Field produces from sandstones in
3080-532: The great depression, and retiring in 1947. The company ran into early trouble when, shortly after acquisition, it was hit by the Great Crash of October 1929. Conoco became a key supplier to the United States government during World War II . Under the leadership of Leonard F. McCollum, Conoco grew from a regional company to a global corporation in the years after World War II. Another rough patch for
3150-495: The growth of vegetation depending on the exact changes that occur. Crude oil and natural gas are the two largest sources of hydrocarbon contamination of soil. Bioremediation of hydrocarbon from soil or water contaminated is a formidable challenge because of the chemical inertness that characterize hydrocarbons (hence they survived millions of years in the source rock). Nonetheless, many strategies have been devised, bioremediation being prominent. The basic problem with bioremediation
3220-505: The largest oil companies in the United States, Conoco further expanded its operations globally during the 1970s decade. Similar to other oil companies during the 1970s energy crisis , Conoco’s operations were negatively impacted, and so in 1981 Conoco, the ninth-largest oil company at the time, was embroiled in one of the most expensive corporate takeovers in history when the Mobil Corporation and Seagram attempted to acquire
3290-507: The late 1960s: The Norwegian and British sectors hold most of the large oil reserves. It is estimated that the Norwegian sector alone contains 54% of the sea's oil reserves and 45% of its gas reserves. More than half of the North Sea oil reserves have been extracted, according to official sources in both Norway and the UK. For Norway, Oljedirektoratet gives a figure of 4,601 million cubic metres of oil (corresponding to 29 billion barrels) for
3360-529: The lease in the Stamford complex was originally scheduled to expire in 1992. In 1995, Conoco Inc. was awarded a contract by Iran to develop a huge offshore oilfield in the Persian Gulf . It was the first energy agreement involving Iran and the United States since Washington severed relations with Tehran in 1980. The contract was signed after three years of negotiations. However, the company dropped
3430-639: The major fuel brands of the Phillips 66 Company. Of those two brands, Conoco has a more dominant presence of gas stations in the markets of Colorado , Texas, Montana , Missouri , and Oklahoma , as well as a growing presence in Eastern Pennsylvania following taking over the retail contracts of several Gulf locations, while having a complete absence in states such as California and Florida . Continental Oil, originally based in Ogden , Utah
3500-599: The merger, Conoco had its headquarters in what is now the current ConocoPhillips headquarters in the Energy Corridor of Houston ; the complex was formerly known as the Conoco Center. The headquarters of Conoco moved to Houston, in 1949. In 1965, the headquarters moved to Manhattan , New York City . In 1972, the headquarters moved to Stamford, Connecticut ; in Stamford Conoco occupied space in
3570-527: The middle Eocene Alba Formation at 1860 m subsea and was discovered in 1984 in UKCS Block 16/26. The Smørbukk Field was discovered in 1984 in 250–300 m of water that produces from Lower to Middle Jurassic sandstone formations within a fault block. The Snøhvit Gas Field and the Draugen oil field were discovered in 1984. The Heidrun oil field was discovered in 1985. The largest UK field discovered in
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#17327722984323640-411: The more recognizable Continental name along with the Conoco brand. However, it adopted Marland's red triangle logo, which it retained until 1970 the now-familiar capsule logo was adopted. Dan Moran , who succeeded Marland founder E. W. Marland as president of Marland Oil in 1928, became the first president of the merged Conoco. Moran ran Conoco for twenty years, seeing the company through challenges of
3710-509: The multiple bonds to produce polyethylene , polybutylene , and polystyrene . The alkyne acetylene polymerizes to produce polyacetylene . Oligomers (chains of a few monomers) may be produced, for example in the Shell higher olefin process , where α-olefins are extended to make longer α-olefins by adding ethylene repeatedly. Some hydrocarbons undergo metathesis , in which substituents attached by C–C bonds are exchanged between molecules. For
3780-610: The only buyer, British Gas . West Sole came onstream in May 1967. Licensing regulations for Dutch waters were not finalised until 1967. The situation was transformed in December 1969, when Phillips Petroleum discovered oil in Chalk of Danian age at Ekofisk , in Norwegian waters in the central North Sea. The same month, Amoco discovered the Montrose Field about 217 km (135 mi) east of Aberdeen . The original objective of
3850-479: The past twenty-five years is Buzzard , also located off Scotland, found in June 2001 with producible reserves of almost 64×10 m³ (400m bbl) and an average output of 28,600 m to 30,200 m (180,000–220,000 bbl) per day. The largest field found in the past five years on the Norwegian part of the North Sea is the Johan Sverdrup oil field , which was discovered in 2010. It is one of the largest discoveries made in
3920-565: The plan after the White House announced that President Bill Clinton would issue a directive blocking all such transactions on grounds of national security. The official Conoco museum was completed in 2007 and is located in Ponca City, Oklahoma. Along with sister brands, Phillips 66, and 76, "Conoco" ( IPA: [ˈkɒnəkoʊ] ), is a major American brand of oil and gas station that has been owned by Phillips 66 since 2012 and
3990-401: The reactions of alkenes and oxygen. This process is the basis of rancidification and paint drying . Benzene burns with sooty flame when heated in air: Saturated hydrocarbons react with chlorine and fluorine . In the case of chlorination, one of the chlorine atoms replaces a hydrogen atom. The reactions proceed via free-radical pathways , in which the halogen first dissociates into
4060-668: The shores of the North Sea dates back to 1851, when James Young retorted oil from torbanite (boghead coal, or oil shale) mined in the Midland Valley of Scotland. Across the sea in Germany, oil was found in the Wietze field near Hanover in 1859, leading to the discovery of seventy more fields, mostly in Lower Cretaceous and Jurassic reservoirs, producing a combined total of around 1340 m³ (8,400 barrels) per day. Gas
4130-737: The simple non-ring structured hydrocarbons have higher viscosities , lubricating indices, boiling points, and solidification temperatures. At the opposite extreme from methane lie the heavy tars that remain as the lowest fraction in a crude oil refining retort. They are collected and widely utilized as roofing compounds, pavement material ( bitumen ), wood preservatives (the creosote series) and as extremely high viscosity shear-resisting liquids. Some large-scale non-fuel applications of hydrocarbons begin with ethane and propane, which are obtained from petroleum and natural gas. These two gases are converted either to syngas or to ethylene and propylene respectively. Global consumption of benzene in 2021
4200-517: The source of virtually all synthetic organic compounds, including plastics and pharmaceuticals. Natural gas is consumed almost exclusively as fuel. Coal is used as a fuel and as a reducing agent in metallurgy . A small fraction of hydrocarbon found on earth, and all currently known hydrocarbon found on other planets and moons, is thought to be abiological . Hydrocarbons such as ethylene, isoprene, and monoterpenes are emitted by living vegetation. Some hydrocarbons also are widespread and abundant in
4270-433: The spin off that contained the downstream operations of ConocoPhillips went under a separate company known as the Phillips 66 Company. The "Continental Oil and Transportation Company" was founded by Isaac Elder Blake in 1875. Based in Ogden, Utah , the company distributed oil, kerosene , benzene , and other products in the western United States. Continental Oil Company was acquired by Standard Oil Company in 1884, and
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#17327722984324340-399: The three-story High Ridge Park complex. In 1982, DuPont announced that Conoco's headquarters would move from Stamford to Wilmington, Delaware . The move occurred in 1982. Edward G. Jefferson, the chairperson of DuPont, said that the headquarters relocation was to bring the head workforces of DuPont and Conoco together. DuPont also announced that it was closing the Conoco offices in Stamford;
4410-407: The well had been to drill for gas to test the idea that the southern North Sea gas province extended to the north. Amoco were astonished when the well discovered oil. BP had been awarded several licences in the area in the second licensing round late in 1965, but had been reluctant to work on them. The discovery of Ekofisk prompted them to drill what turned out to be a dry hole in May 1970, followed by
4480-613: Was commenced when DuPont sold 30% that year and the remaining 70% in July 1999, officiating their separation. For many years, the company would operate its own refineries until 2002 when it was merged with the Phillips Petroleum Company to form ConocoPhillips . A decade later, ConocoPhillips would divest its downstream operations that consisted of its gas stations operations under the brands of Conoco, Phillips 66 , and 76 . The divestiture would eventually commence and
4550-533: Was completed as a minor gas producer from the Zechstein carbonates. The Slochteren-1 well found gas in the Rotliegendes in 1959, although the full extent of what became known as the Groningen gas field was not appreciated until 1963—it is currently estimated at ≈96 × 10 ^ cu ft (2,700 km) recoverable gas reserves. Smaller discoveries to the west of Groningen followed. The UK Continental Shelf Act came into force in May 1964. Seismic exploration and
4620-454: Was financially stressed by the reduced oil prices , and called for government support. The distances, number of workplaces, and fierce weather in the 750,000 square kilometre (290,000 square mile) North Sea area require the world's largest fleet of heavy instrument flight rules (IFR) helicopters, some specifically developed for the North Sea. They carry about two million passengers per year from sixteen onshore bases, of which Aberdeen Airport
4690-725: Was found by chance in a water well near Hamburg in 1910, leading to minor gas discoveries in Zechstein dolomites elsewhere in Germany. In England, BP discovered gas in similar reservoirs in the Eskdale anticline in 1938, and in 1939 they found commercial oil in Carboniferous rocks at Eakring in Nottinghamshire . Discoveries elsewhere in the East Midlands lifted production to 400 m³ (2,500 barrels) per day, and
4760-492: Was founded by Isaac Elder Blake in 1875 and was acquired by the Standard Oil Company in 1884. Eighteen years after Standard Oil’s dissolution, Marland Oil would acquire Continental, moving its headquarters to Ponca City , Oklahoma , in 1929. As the acquisition took effect, Marland favorably phased out its own name and rebranded into the more nationally known Continental and Conoco nameplates. As it became one of
4830-416: Was seen in 1999, with offshore oil production in that year of 407×10 m³ (398 million barrels) and had declined to 231×10 m³ (220 million barrels) in 2007. This was the largest decrease of any oil-exporting nation in the world, and has led to Britain becoming a net importer of crude for the first time in decades, as recognized by the energy policy of the United Kingdom . Norwegian crude oil production as of 2013
4900-552: Was subsequently spun off during the Standard Oil divestiture in 1911. The main office was later moved to Ponca City, Oklahoma , when in 1929, Marland Oil Company (founded by exploration pioneer E. W. Marland ) acquired the Continental Oil Company. Marland Oil acquired the assets (subject to liabilities) of Continental Oil Company for a consideration of 2,317,266 shares of stock. The merged company took
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