Description
Description of the total hydrocarbon content of a reservoir, as distinct from 'Reserves' which can be 'recovered' or produced. Oil or gas in placed (OIP, GIP) before the start of production is known as Oil or Gas Originally in Place or Initially in Place. (e.g. STOOIP = Stock Tank Oil Originally in Place; GIIP = Gas Initially in Place).
Source :
Alpha Thames Ltd 2004