In an early stage of exploration, it is important to gather as much information as possible, in order to focus resources towards the areas/regions with the highest potential.
What are the chances of finding commercial volumes in a license block?
A lot of work is required in order to provide a full assessment of new areas for exploration, regarding presence of reservoir and source rock, maturation and migration of hydrocarbons, and preservation of hydrocarbons in a trap. Charge and seal risks are typically the most common cause of exploration failures, and this is exactly where CSEM plays an important role, being sensitive to the saturation of hydrocarbons in a reservoir.
What is the risk of new play models?
New play types are always subject to higher risk, due to lack of understanding of how these play models work. The largest risk is due to presence and maturity of source rock, and possible HC migration pathways.
What is the risk of looking for stratigraphic traps?
In mature areas, most promising structural closures will be tested by drilling. Therefore, in such areas, focus will be on stratigraphic type traps, with increased risk related to seal. Again, CSEM is an important tool to lower the risk on charge and/or seal for these prospects.