Oil and gas projects are typically undertaken by energy companies, which may operate in multiple countries and jurisdictions. An oil and gas project refers to any initiative aimed at exploring, extracting, refining, transporting, and selling crude oil and natural gas.

The appraisal phase of the oil and gas project lifecycle can take years and a lot of money because more wells need to be drilled, and more seismic surveys need to be done to comprehend the reservoir fully.