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oil in place

   Also found in: Wikipedia 0.01 sec.
oil in place [′ȯil in ′plās]
(petroleum engineering)
The total volume of oil estimated to be present in an oil reservoir.


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5 cents as the oil and gas producer/explorer said it recently commissioned a "Heavy Oil in Place Determination Report" from Chapman Petroleum Engineering on four sections of its petroleum and natural gas leases near Manning Alberta.
Summary: Following conclusion of the conceptual field development plan for the Hammamet West oil field in the Gulf of Hammamet, Tunisia, Cooper Energy is pleased to announce: Field estimated to contain over 200 million barrels oil in place (P50).
Its oil in place has been estimated at more than 400m barrels of 30[degrees] API.
 
 
 
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