In oil and gas industry, what does greenfield and brownfield project means?
- 1 decade agoFavorite Answer
A greenfield project is one where you start with a completely undeveloped area (eg: a green field).
Brownfield is usually one that has had some development (eg: land cleared).
- 5 years ago
An oil or gas accumulation that has matured to a production plateau or even progressed to a stage of declining production. Operating companies seek to extend the economic producing life of the field using cost-effective, low-risk technologies. Stimulation or refracturing operations, completing additional zones, and installing artificial lift equipment are a few technologies commonly applied in brownfields before any drilling options are attempted.Source(s): Schlumberger OilField Glossary
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- AudreyLv 45 years ago
In the worst case scenario, that $45 billion is a $45 billion credit against an even bigger tax bill. So don't pretend the government is writing these companies checks just because it's letting them keep more of their own money.