• Finance & Investment

    Exploration for oil and gas as well as development can be detrimental

    Once it has obtained the necessary licences after obtaining the required licences, the oil and gas industry can commence the process of exploration. This involves the identification of hydrocarbon resources, and their estimates. Based on the nature of resource oil and gas companies may decide to proceed to the next phase of prospecting or exploration. Other companies in the oil and gas industry may sell their abandoned fields to smaller private firms with less production costs and greater return. Companies owned by the state may also purchase fields. richard warke net worth The aim for exploration and exploration work is to discover the possibility of a gas or oil field…

  • Technology

    Oil and gas industry must take many other factors into account

    The Process of Oil and Gas Exploration After acquiring the required licences, an oil and gas company can begin the process of exploration. The process involves the identification of hydrocarbon resources and their estimations. Depending on the type of resource, oil and gas companies may decide to move on to the next stage of exploration or prospecting. Other oil and gas companies will sell abandoned fields to smaller private companies with lower production costs and higher returns. State-owned companies may also purchase fields. richard warke The goal of exploration is to find a viable oil or gas field by performing subsurface and seismic surveys. These surveys are followed by drilling…