Case Studies: Experiences and Learnings
Exploration companies face considerable challenges with respect to the development of remote natural gas resources. “Stranded gas” reserves, for which no current market opportunities exist, represent a considerable proportion of the worldwide resource base. In many cases, the presence of significant amounts of associated natural gas can delay crude oil exploitation in frontier areas. Companies often have no choice but to flare the gas (an option that is becoming less acceptable environmentally) or re-inject (an option that is often quite expensive). New technologies on the horizon could accelerate monetization of these resources. Otherwise, market development for stranded gas hinges on policy and regulatory frameworks to facilitate transportation, local distribution, and conversion to power or to create industrial end uses. Turkmenistan, with its rich natural gas reserves and remote position in the Caspian basin, represents a useful case in point. An analysis of transportation options for Turkmenistan brings together the wide range of factors that can impact the development of remote gas resources, from geopolitical concerns to assessment of end use markets. A number of key considerations for exploration are raised.
Figures & Tables
A “one-stop” business view on how to succeed in international exploration and production. Success in the international upstream arena requires more than the technical ability to find oil and gas. Relationships with governments and people, mutually beneficial contracts, workable strategies, and implementation plans are necessary to build strong, mutually beneficial, and profitable ventures. Key components that drive exploration and production in the global environment are examined. Specific topics include negotiating for success, contracts, the role of technology in international strategies, cross-cultural relationships, alliances, and international upstream financing. Authors from around the world, representing industry, governments, national oil companies, consultants, and academia, contributed their perspectives. Views are provided from both sides of the negotiating table, the corporate boardroom, the resident manager, the explorationist, the businessman, and the theoretician. Geoscientists, engineers, and negotiators, who are, or would like to be, involved in the global energy business will find this collection an important reference.