One particular region that has continued to drill deeper to hit the hydrocarbon jackpot is located in the world's southern hemisphere and features unconventional conditions for recovering hydrocarbons. Specifically, Brazil's energy giant Petrobras is taking the reins for unlocking vast amounts of oil and gas below layers of salt, rock and sand, and several of the most memorable finds are located in extreme water depths in the country's subsalt basins. Operator of the Orinoco heavy oil belt, Venezuela's state-controlled PDVSA also reigns as a primary player in South America's energy sector. As a region, South America boasts some of the largest oil-and-gas discoveries ever made and is estimated to contain billions in recoverable hydrocarbon reserves.
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.