Definition - What does Exploration Plan mean?
An Exploration Plan is a document that states all the intended activities that are related to the exploration of an oil well. The plan contains a complete set of information associated with an oil well such as its location, analysis, drilling equipment, and environmental impacts to name a few. This plan is an essential document in the implementation of the initial phase of exploring of a well. Further, a revised Exploration Plan may be made to propose more changes in the activities of a well. An Exploration Plan, documents all the requirements and early analysis activities.
Petropedia explains Exploration Plan
A comprehensive proposal is required in order to drill an oil well. This proposal describes the initial oil well tasks in detail such as geophysical activities, drilling equipment such as mechanized drilling etc. The purpose of an exploration plan is to specify all the requirements of an oil well with respect to the drilling procedure. The plan also proposes the various equipment and technology that would be used for the analysis of the well. In addition to this, it also states the possible environmental impacts and how to reduce them. The Exploration Plan is an initial proposal which is further revised to suggest various additional changes.