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Basic prerequisites for petroleum exploration and development programs

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  • Hatley, Allen G.

Abstract

From both a government and an oil exploration company perspective certain basic prerequisites are necessary for initiating and maintaining rational and orderly oil and natural gas exploration and development programs. These prerequisities are: 1.(1) realistic government policy augmented by effective petroleum legislation to initiate and promote adequate exploration and development programs;2.(2) a reasonable expectation for success in attaining the goals of all participating parties;3.(3) available “risk capital” to invest in these programs; and4.(4) sound exploration judgment and adequate technology possessed by those responsible for conducting the programs.

Suggested Citation

  • Hatley, Allen G., 1981. "Basic prerequisites for petroleum exploration and development programs," Energy, Elsevier, vol. 6(11), pages 1255-1261.
    • Handle: RePEc:eee:energy:v:6:y:1981:i:11:p:1255-1261
    DOI: 10.1016/0360-5442(81)90036-0
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    Cited by:

    1. Wirojudo, Gatot K., 1985. "Geological studies as a risk-reducing factor in exploration ventures with special references to the South China Sea," Energy, Elsevier, vol. 10(3), pages 517-523.

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