The commercial marketing of an oil or gas discovery is complex and its success depends on a number of factors. There is also a huge difference between an onshore and an offshore discovery, since the offshore fields require considerably larger investments to bring to market. There is also a vast difference between an oil and a gas discovery since the commerciality of a gas discovery depends on the ability to find an attractive market for the gas, since gas contrary to oil is not a commodity which is sold at a similar price around the world. The commerciality of an oil discovery is also very much influenced by global prices and thus a discovery which may not be commercial when oil is $20 a barrel may become commercial when oil hits a price of $80 a barrel. Thus an oil or gas discovery which may not be commercial under certain market conditions may become a commercial discovery with changing market conditions, or vice versa
05.07.2009

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