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OFFSHORE TERMS AND ABBREVIATIONS
 
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Terms

Barrel - volume measurement. Many abbreviations: b, bbl, bar. Sometimes written with capital letters.
Barrels per day (Bd or b/d) specifies the production rate per day.
Bell Diving - carrying out diving within a diving vessel, shaped like a bell.
Bit - drill bit.
Block - denotes an area awarded for test drilling or production. Block sizes may vary.
Blowout - uncontrolled blow out of oil or gas due to excessive pressure in the reservoir.
Blowout Preventer - also called "Christmas Tree", a safety valve placed on the well head.
BOP - abbreviation for Blowout Preventer.
Bumber Sub - an approximately 20 metres long tool allowing a certain amount of vertical movement.
Bury Barge - vessel especially equipped to bury oil and gas pipelines on the sea bed.

Abbreviations

BEI - Banque Europeenne d'Investissement - The European Investment Bank.
BFI - Baltic Freight Index - an index for bulk freight rates.
BIAC - Business and Industry Advisory Committee - OECD's advisory committee. Opposite to TUAC.
BICC - Bureau International des Chambres de Commerce - International information bureau for
Chambers of Commerce.
BIFA - British International Freight Association
BIFFEX - Baltic International Freight Futures Exchange (London) - an exchange for the buying and
selling of futures, based on the BFI.
BIMCO - The Baltic and International Maritime Council (Copenhagen)
BIS - Bank for International Settlements (Basel)
BISCO - British Iron and Steel Corporation
BOSVA - British Offshore Supply Ships Association
BOTB - British Overseas Trade Board (London)
BROA - British Rigowners' Association
BSC - British Shippers Council
BSI - British Standards Institution
BV - Bureau Veritas - French classification society.

   
 

 
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