Critical factors for unconventional hydrocarbon resources development

Countries all over the world struggle to exploit their Unconventional Hydrocarbon Resources (UHR) secure energy supply, but only a few of them have succeeded. Regulators and decision-makers should understand critical factors required for companies attract capital, technology, good practices promote innovation generate virtuous cycle that translates into sustainable production. This study seeks identify most relevant UHR commercial development. We assessed exploiting state in 60 countries identified common development 22 are active. The proposed Development Index (UDI) allows model, rank, benchmark, forecast activity any given country. focused on case Colombia illustrate validity this Index. Evidence suggests where National Oil Companies (NOCs) address challenge own, may lack expertise, despite having governmental support capital availability. It is easier emulate resilient North American firms by partnering with effectively incorporate best Governments can facilitate process through support, surface subsurface risk reduction, proper tax regime, ESG practice promotion.