The exploration sector of the oil and gas industry is charged with finding and confirming new oil and gas fields. Their goal is to replace the volumes of hydrocarbons that the company produces so reserves stay flat or increase. This lesson will explore the stages of the oil and gas exploration cycle, from identification of the field to an economic discovery!
At the end of this lesson, students should be able to:
This short course takes a brief look at what happens in the early stages of field exploration in the petroleum industry. The Gippsland Basin, offshore Australia, is the field example, and we start with a look prior to the first offshore licensing round of the field. Throughout the course, we will progress to the stage of management review of a wildcat well.
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