1. What countries are included into OPEC now? Tell in few sentences why it is so important to have such an organization in the industry?

Current member countries of OPEC are: Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, United Arab Emirates, Venezuela.

The importance of organization such as OPEC lies in its ability to affect global oil market through coordination of the petroleum policies of its Member Countries, with main goal of securing stabilization of oil markets and continuous efficient supply of petroleum to the consumers. OPEC has played a key role in stabilization of supply and demand disbalance in history, and in that way led to stabilization of crude oil price.

2. Name and shortly describe the necessary conditions to form hydrocarbon reservoir. How do you think, what could happen if there were no migration pathway from the source rock? Does such case exist?

Necessary condition to form a hydrocarbon reservoir:

â€¢ Deposition of organic matter in low oxygen condition which will form Source Rocks once sedimentation conservates the organic matter

â€¢ Source Rocks with high enough level of organic matter should be exposed to heat and pressure over time (usually happens as sedimentation progresses) and under those conditions generate hydrocarbons

â€¢ In order for hydrocarbon reservoir to form, the generated hydrocarbons need a migration path (usually moving towards lower pressure, buoyance effect), so they start their migration towards surface.

â€¢ Impermeable cap rock is what stops hydrocarbon migration and their loss on the surface

Well Date q STBD Np, STB 3/1/13 411 12,300 4/1/13 334 23,4...