But Geoffrey White, the deputy managing director of Oryx, said the company planned to maintain its exploration and other operations in the concession area and might seek a listing on another stock exchange.
Phillips Petroleum, which recently took on an additional $4.5 billion in debt to thwart T. Boone Pickens Jr.'s attempt to gain control of the Bartlesville, Okla.-based company, is cutting elsewhere to maintain its exploration and production budget at last year's level.
Mr Patey's research has taken him to Beijing and Delhi, where the state-owned oil companies the China National Petroleum Corporation and India's Oil and Natural Gas Corporation Videsh (OVL have their headquarters.Like Mr Copnall, Mr Patey also has pen-portraits of individuals, though in his book they tend to be those who spearheaded and maintained exploration programmes in Sudan.
Novelty of an object is an important property involved in initiating and maintaining exploration, and this can be achieved by renewing objects.
This kind of combination will help the proposed algorithm to maintain a delicate exploration-exploitation trade-off from temporal and spatial perspectives.
Foreign investment is now centered on oil-related industries like petrochemicals, and the Saudis are expected to maintain a government monopoly on exploration and development.
We (and many others) call this elusive capacity "ambidexterity". Only few firms manage to be ambidextrous most struggle to maintain a healthy balance between exploration and exploitation.
Exxon Mobil, like other large oil companies, is struggling to maintain production through acquisitions and exploration at a time when many of the wells in its inventory are aging and losing productivity.
In addition, the proposed algorithm uses simulated annealing to maintain a balance between the exploration and exploitation phases.
One case company stuck to its past trajectory of innovation, ignoring risk management and control; the second case company had systems for its exploitative operations but was struggling to maintain any value of innovation and exploration.
