What to consider when choosing a new oil field?

Choosing the best oil drilling location is not an easy task. There is a lot of planning that goes into it. It also necessitates collaboration among many research groups and, ultimately, a tremendous deal of patience.

inclusive oilfield services in Malaysia

There are numerous aspects to consider. The list continues on  geology, costs, infrastructure, proof of previous development, and so on.

The location forecast profile.

Obviously, the first step is to locate a region that will produce sufficient amounts of oil. It goes without saying that an oil field in a place where there is no oil is completely useless. A petroleum geologist will need to undertake a geological profile in order to find an ideal area for a new oil field. Oil is often found in sedimentary rock basins, which means that after a viable location has been located, the geologist will need to undertake a geophysical investigation. 

This will be done so that the following aspects can be investigated :

  • Source – The hydrocarbons (oil) are produced deep underground by the source rock.
  • Reservoir – The hydrocarbons leak from the source rock into the reservoir rock, where they are trapped.
  • Seal – The seal prevents the hydrocarbons from escaping the reservoir rock.
  • Trap – Geologic traps will be provided by sandstones, whereas structural traps will be provided by carbonate rocks. It is at this moment that the hydrocarbons exist in such large quantities that drilling into the rock to recover them becomes profitable.
  • Timing –  It is critical, geologically speaking, that the formation indicates a precise sequence of events.
  • Maturation – The source rock must be subjected to extreme heat and pressure in order for oil to be created.
  • Migration – Oil moves from the initial source rock to the reservoir rock in this process.

Once the geologist has created a profile of the property based on these numerous elements, he or she may determine the viability of the possible oil field. Certain techniques, such as mud-logging and seismic reflection, may help to paint a more optimistic picture. If this is the case, oil companies can go on to the next step in the process of obtaining a new oil field.


Cost

inclusive oilfield services in Malaysia
inclusive oilfield services in Malaysia

After confirming that a possibility is actually suitable from a drilling company’s standpoint, the economic feasibility must be analyzed. Drilling operations are not inexpensive, regardless of how well they are conducted or how much aid robotics and AI may provide. However, putting a precise cost on what degree of oil yield is required to designate it a lucrative investment is quite difficult. This issue is exacerbated by the oil market’s extreme day-to-day volatility.

It’s critical to ensure that an oil well will be profitable, especially in light of more stringent legislation and political pressure, as well as worldwide trends toward more environmentally friendly energy sources. When it comes to deciding, there is absolutely no room for error.

Infrastructure

The infrastructure that surrounds an oil potential has a significant impact on the drilling project’s profitability. There are a number of things to keep in mind when it comes to the fuel that is transported via pipelines and tankers, as well as the overall operations of the site.

One such consideration is environmental concerns. The immediate vicinity of the site will face significant consequences in terms of CO2 emissions and nutrient dispersion within nearby ecosystems.

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