Selection of Exploration Strategy

Abstract

The exploration of oil and gas depends on investments and prospective area to be explored. Exploration as a risky business, has to be financed from company's resources, not through loan. Basically, exploration provides oil and gas producers, who are financed through actual production.Our prospective area is well explored and there is a diminishedprobability of discovering large deposits. Production has a decreasingtrend.This is why the strategy of exploration needs to be checked andredefined . Especially as this coincides with poiitical and economicchanges and with changes in ownership. Owners and/or their representatives are ready to invest in exploration if the target is clear, thecost defined and there is a high probability of finding oil and/or gas.