CASE STUDY
INTRODUCTION
Across the globe the commercial world is become too competitive that poses lots of opportunities and threats simultaneously to the businesses. Oil exploration and Production (E&P) companies are not exceptional to this. Oil reserves are depleting and it is expected to last for another 40 years. Oil is one of the major energy resources for most of the industries and particularly for all transportations. Cutting oil consumption further will prolong the life of global oil reserves. Natural gas reserves are estimated to last for over 60 years at the current global rate of consumption. However, this forecast may be understated as new gas reserves are identified and come into production. Almost all off-shore oil fields also contain reserves of natural gas. Therefore, drilling and production of oil also provides the opportunity to produce and sell natural gas from these reserves. Any company wishing to operate in the E&P sector needs to prove its credentials to the respective government in terms of: its technical ability to bring the potential oil and gas fields into production; its awareness and track record in respect of environmental issues; the company’s financial capacity in respect of the investment required to bring the oil and gas field into production. This report is about the issues of YJ E&P Company in relation to licences, resource availability, environmental issues, outsourcing, etc.

ISSUES OF YJ
YJ, an oil/gas exploration and production company, has applied for 4 licenses which are necessary for the business to carry on its operations. Three out of four were won by YJ and got the right to test drill on three different fields (EEE, FFF and GGG). But the concerned issue here is within two weeks, the firm has to give its acceptance for all three fields and the work must be commenced by 31 March 2015 and all test-drilling