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The Role of Oil Drilling Companies

3 min read

Oil is formed from the fossils of animals, plants and trees which date back to several thousands of years. After undergoing a lot of chemical processes for over a million years, they turn into organic substance and later into natural gas and crude oil.

Oil drilling companies form an integral part of the oil and gas industry. Finding oil is not a simple process and adding to the complexity is finding potential buyers and it involves various stages. The first thing that these companies do is to find the oil resources and the final stage is to distribute it to the retail outlets and petrol bunks. These companies depend predominantly on the advertisers and marketing agencies as they get potential consumers.

These companies use state-of-the-art procedure for drilling oil. For this, highly experienced manpower and a huge financial investment is required. It is quite difficult to locate the natural resources that are capable of producing oil and hence a lot of technical expertise is required in order to ensure that the oil and gas exploration is done successfully.

Detecting the right place is very important because all the hard work may go in vain if there is no oil. The technique mainly used to detect oil is 3-D and 4-D seismic imaging. Before beginning to drill the oil in a particular area, the company concerned should procure the requisite rights to do so. The technique, generally, used for drilling the oil is the rotary method.

There is a possibility that the area selected for drilling may contain very less quantities of oil which is not worth the investment. In such cases, the companies should seal off the well as it may cause environmental pollution if it is left unattended for longer periods of time. Therefore, the entire procedure must be carried out under the able guidance of qualified and experienced staff.

The procedures followed by the oil and gas companies that are involved in drilling are:

• The companies that drill the oil first identifies the land, and then has it cleaned and levelled. Later, roads are built to make it accessible.

• If there is no other source of water near to the land, the water well are dug as it is one of the significant requirements.

• Then the reserve pit is dug to put in the rock cuttings and drilled mud. This pit is later covered with plastic to prevent environmental pollution.

The fundamentals that the oil drilling companies should follow:

• Earmark properties that potentially have natural resources that can produce oil and gas.

• The value of such properties can be maximized by increasing the production levels.

• Build a core team comprising qualified and experienced engineers and personnel.

• The companies should focus on particular regions so that company’s concentration is more on building the infrastructure.

• The oil companies must eye properties that are capable of creating additional values in the form of secondary and tertiary recovery methods.

• The oil companies should not only focus on drilling but also focus on exploitation, exploration, research and development and marketing.

Addison Harriet

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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