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Oil & Gas field

Oil & Gas field (116)

An oil field is a tract of land used for extracting petroleum, otherwise known as crude oil, from the ground. Although some contest the exact origin of oil, most consider petroleum a fossil fuel created from dead organic material often found in ancient seabeds thousands of meters below the surface of the earth.

An oil field consists of a reservoir in the rocky strata of the Earth which traps hydrocarbons. An impermeable or sealing rock layer covers the reservoir. Typically, industry professionals use the term "oil field" with an implied assumption of economic size.

There are more than 65,000 oil fields around the world, many of the largest located in the Middle East. There have been tens of thousands of oil fields have been discovered. However, the concentration of 94-percent of known reserves is in fewer than 1500 major oil fields. The locations of oil fields have been the origin of past geopolitical conflicts and environmental concerns.

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