• oilfield
    Petroleum - English

    Life of an Oil or Gas Field

    by Abass Radhi Abbas The Exploration and Production Lifecycle  There are five stages in the exploration and production ‘lifecycle’. These stages step through how hydrocarbons are discovered to what happens after an oil or gas field is decommissioned. Each stage is described below in terms of the activities, jobs, cost and time involved. There are also risks at every stage, which need to be managed responsibly by oil and gas companies. 1.    Exploration Oil and gas exploration is the search by petroleum geologists and geophysicists for hydrocarbon deposits (oil and gas) beneath the Earth’s surface. It involves locating oil and gas reservoirs using primarily seismic surveys Exploration is an expensive,…