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Oil exploitation from my understanding is maximization of an oil formation that has been explored. What this means is that having a complete access to an oil formation to produce as much as possible from it
Oil and gas EXPLOITATION engineering compared to EXPLORATON is like "FINE TUNING" compared to "TUNING" your radio for best and optimized reception.
So, while exploration may identify the oil & gas fields/reservoirs and does "general" quantification of how much oil/gas they have and how to extract them, exploitation does the fine tuning/optimization thing to maximize the oil extraction.
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