RE: Exploration activities within the oil industry could be stopped for a considerable time because of the risks and costs involved
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Yes it can be risky but would be of huge advantage if carried successfully.
Good point to discuss upon :)
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Of course, these risks can be worthwhile if seismic studies and exploration through the drilling of exploratory wells show the existence of hydrocarbons in commercial proportions, however, in a current scenario where oil prices have fallen due to low demand for crude due to the corona virus, the activity that immediately stops is exploration, Rehabilitation and repair of wells can remain active, because I even believe that even developing well drilling activities should be stopped, as several OPEC countries, Russia and the United States of America have agreed to lower production quotas.
This is a very important point that you touch upon and that stimulates the exciting and continuous debate, greetings and thank you for commenting.