License/Block is an area where a country or a land owner grants the right of exploration and/or production to a company.
Following the screening of areas for the potential of hydrocarbon accumulation based on extensive technical evaluations, a company negotiate with a counterpart or submit a bid to acquire the License/Block.
Exploration means searching a new hydrocarbon accumulation. Appraisal represents verifying the extension of the newly-found accumulation.
By means of geosciences methods, we make utmost efforts to gather/acquire data and interpret/analyze them. Once the reserves and risks of a prospect pass the decision criteria, we drill an exploration well. Appraisal wells follow a successful exploration well to determine the areal extent and volume of the discovery.
Development stage sets up production facilities, which comes after successful appraisals confirming economical hydrocarbon volume.
After combining the appraisal results to endorse the economical assessments, subsequent to a decision on the development, engineers and geoscientists collaborate to design, construct, install a production facilities and drill, complete a series of production/injection wells.
Production recovers hydrocarbon resources to the surface, then transport by pipelines and/or tankers to refineries, where they refine the hydrocarbon and distribute to consumers.
In general, production stage runs several to several tens of years.
Expertise in operation and maintenance of the facilities as well as subsurface situation enable us an efficient production.