The key issues in exploration are:

• increasing success rate (improving "finding" effectiveness);

• improving the efficiency (reducing cost, increasing speed) of the "finding" process, from data acquisition, through processing to interpretation.

Especially in mature exploration acreage where there is substantial knowledge of the habitat of hydrocarbon reserves, exploration technology must be able to find more efficiently and reliably remaining prospects characterised by one or more of the following:

• small area of trap;

• thin pay zone;

• deep sub-surface location;

• complex geological structure;

• trapped by stratigraphic rather than structural bounding surfaces.

In both frontier and mature areas, the creative exploration process of generating play concepts and evaluating prospects will be aided by further enhancements in data integration, manipulation and management.

Key exploration technologies include computers (for data handling, modelling and visualisation), seismic imaging, drilling and downhole petrophysical logging (increasingly conducted while drilling). Despite the significant pace of innovation over recent years, particularly in the reduced costs and elapse time for marine seismic acquisition and processing, incremental improvements will continue to be made in all four technologies due largely to the competitive nature of the technology delivery industry. However, three specific technology issues to further improve exploration efficiency and success can be highlighted:

• improved, quantitative information on sedimentary basin processes in 2D, 3D and 4D (i.e. with time) to contribute to more rapid, reliable and ranked exploration investment decisions (see also Section 5.1);

• increased capability of non-interventionist /remote sensing technology to image fluid phases in the subsurface (see also Section 5.1);

• reduced costs/increased effectiveness of exploration drilling through for example introduction to routine use offshore of light weight, slim-hole geo-steerable technology (see also Section 5.3).