Throughout the world, there are many sedimentary basins that are either unexplored or incompletely explored . These basins extend over hundreds of thousands of square kilometers, and yet many of them have been tested by fewer than twenty wells. With relatively recent improvements in seismic recording and processing technology, it is now possible to acquire subsurface information of a quality and quantity that was previously impossible. In addition, substantial improvements in the analysis and understanding of hydrocarbon geochemistry now allow the earth scientist to better understand why certain areas within a sedimentary basin are more prone to oil or gas accumulation than others. Just as importantly, we are now better able to understand the importance of the timing of oil and gas migration.
Many foreign countries are just now becoming involved in oil exploration and production.
In some cases, there are no dependable national companies available to supply oil field tubulars, services or supplies to the industry. An enterprising group may well be able to develop an association or joint venture with a group of nationals to set up a profitable supply or service company in the country, in support of the fledgling petroleum industry . The opportunities in the petroleum industry around the world are diverse. A growing number of petroleum explorationists are recognizing the broad range and diversity of international opportunities, particularly in exploration and production. The large, major oil companies have been reducing their domestic exploration efforts and are now expanding in the international arena.