Definition - What does Exploration mean?
Exploration is an approach for discovering resources that are deposited beneath the earth’s surface. The process is also known as hydrocarbon exploration or oil and gas exploration. Most of the exploration methods depend upon sophisticated technologies to determine the extent of exploration. However, natural gas seeps and oil seeps are the visible features that provide evidence of hydrocarbon generation. Apart from this, various surveys such as gravity survey, passive seismic, magnetic survey, etc., are conducted to detect the potential of an oilfield.
Petropedia explains Exploration
In order to maintain a competitive edge in the market, the oil and gas industry undergoes a myriad of challenges which enable these organizations to keep on evolving exploration approaches with time. The main focus of exploration is on finding, augmenting, producing, and merchandising diverse types of oil and gas products. Generally, exploration is expensive and risky thus it is undertaken by large organizations and national governments. Once the presence of hydrocarbon is confirmed then an exploration well is drilled. The use of detection tools not only saves time but also reduces the environmental impacts and promotes longevity of assets.