Petroleum Exploration & Field Management

Petroleum Exploration is the process of exploring for oil and gas resources in the earth’s sedimentary basins. The process relies on the methodical application of technology by creative geoscientists that leads to viable prospects to drill and the actual drilling of these prospects with exploratory and appraisal wells. Geological prospecting and exploration for oil and gas is a set of industrial and R&D activities for geological study of subsurface resources, identification of promising areas, and discovery of fields, their evaluation and pre-development. The final objective of geological prospecting is preparation of subsurface resources. The main principle of geological prospecting is the comprehensive geological study of subsurface resources when along with oil and gas exploration all associated components petroleum gas and its composition, sulphur, rare metals, etc., possibility and practicality of their production or utilization are investigated; hydrogeological, coal mining, engineering, geological and other studies are performed; natural, climatic, socioeconomic, geological engineering and economic indicator and their changes caused by future field development are analysed.

The global petroleum resin market is estimated to reach USD 2.58 Billion by 2021, at a CAGR of 7.7%. The market is segmented by application, such as adhesives & sealants, printing inks, paints & coatings, rubber compounding, tapes & labels, and others applications; by type that includes C5 petroleum resins, C9 petroleum resins, hydrogenated hydrocarbon resins, and C5/C9 petroleum resins; by end-use industry such as building & construction, tire industry, personal hygiene, consumer goods, automotive, and others; by region, namely, North America, Middle East & Africa, Latin America, Asia-Pacific, and Europe. The base year considered for the study is 2015, while the forecast period is between 2016 and 2021.