Exploration Methods and Techniques

The objective of any exploration venture is to find new volumes of hydrocarbons at a low cost and in a short period of time. Exploration budgets are in direct competition with acquisition opportunities. If a company spends more money finding oil than it would have had to spend buying the equivalent amount in the market place there is little Incentive to continue exploration. Conversely, a company which manages to find new reserves at low cost has a significant competitive edge since it can afford more exploration, find and develop reservoirs more profitably, and can target and develop smaller prospects. 

Eventually, only the drilling of an exploration well will prove the validity of the concept. A wildcat ls drilled in a region with no prior well control. Wells may either result in discoveries of oil and gas, or they find the objective zone water bearing in which case they are termed dry . 

Exploration activities are potentially damaging to the environment. The cutting down of trees in preparation for an onshore seismic survey may result in severe soil erosion in years to come. Offshore, fragile ecological systems such as reefs can be permanently damaged by spills of crude or mud chemicals. Responsible companies will therefore carry out an Environmental Impact Assessment (EIA) prior to activity planning and draw up contingency plans should an accident occur. In Section 4.0 a more detailed description of health, safety and environmental considerations will be provided. 

Both survey methods are mainly employed to define large scale structures such as basins. Based on the resulting maps, seismic surveys are then carried out. 

It is fair to say that advances in seismic surveys over the last decade have changed the way fields are developed and managed. From being a predominantly exploration focused tool, seismic has progressed to become one of the most cost effective methods for optimising field production. In many cases, seismic has allowed operators to extend the life of mature fields by several years. 

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Mudlogging is another important direct data gathering technique, which was discussed in some detail in Section 2.2, Exploration Methods and Techniques. 

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