Definition - What does Development Area mean?
A Development Area is an area that has enough potential to produce hydrocarbons on a commercial basis. It is a part of the oil and gas exploration and production activities which involve the search and extraction of oil and natural gas under water or underground. Once the potential field is confirmed, the area that has to be developed for commercial production.
Petropedia explains Development Area
Development area falls under the upstream sector of oil and gas industry and is a part of exploration and production activities. The first step in this stage is to locate the underground or underwater oil reserves by conducting geological or geophysical surveys. After the location is determined an exploratory well is drilled with the help of oil rigs. In addition to finding and extracting raw materials, this process also includes bringing oil and gas to the surface and gathering or storing them for a short duration. The raw materials are then handed over to the manufacturers for processing.
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