Spanning Canada and the United States, North America is home to a plethora of major industry players, including Exxon Mobil Corp, the world's second-largest publicly traded company after Royal Dutch Shell. The region's oil and natural gas industry is focused on developing oil sands, deepwater gulf prospects and increasingly profitable shale deposits stretching across the continent. One of the premier sweet spots for deepwater exploration, the Gulf of Mexico is the largest body of water indenting the U.S. continental coastline, and its subsea developments continue to spark both national and international interest.
Field development involves the feasibility and conceptual studies required to figure out the best way to develop, produce and maintain a hydrocarbon resource. It comprises all activities required to develop a field – geology, reservoir engineering, environmental impact, well design, construction, completion design, and surface facilities. Field development plans also include the economic impact and risk assessments to ensure that it aligns with business strategy.