Starting an Oil and Gas Business

If you are starting your own oil and gas business, you should be aware of the huge cost it involves. You need to be aware that an oil and gas business is more complicated than other types of businesses to funding can take time.

The procedure is not that straightforward since this type of business has many inherent risks.

Funding Oil and Gas Business

Entrepreneurs tend to have second thoughts about starting an oil and gas business because of the huge cost it involves. But you see, as long as you know where to look, you can find the needed funds. You need to be aware that an oil and gas business is more complicated than other types of businesses, funding can take time. Not all drilling programs are successful and most investors fail while on the exploration stage. Producing oil and gas is serious business so you need to invest a lot of time, effort, and money.

Venture capital is widely available especially for new companies who want to explore the world of oil and gas. You can also opt for equity finance by issuing shares. Another option would be flotation on AIM or alternative investment market. Through AIM, you can gain publicity by allowing options for the acquisitions. You can try sharing drilling risks and profits with other drilling contractors. These are the various options for you when it comes to funding. With a carefully designed business plan, funding will be a lot easier.

Getting License, Equipment, Hiring Employees, Etc.

Like other businesses, you need to apply for a business license. Before doing so, make sure that you decide on the business structure and the name of the business. Submit the necessary papers and pay the fee for the business license. Now, it may take some time before the license is released so after working on the business plan, you should already apply for the business license. Find an ideal location for the oil and gas business. Check with the local zoning ordinances to find the right location. It would also be a great idea to have a mini store where you can sell essential items needed by travelers.

Purchase the necessary equipments and other materials for the oil and gas business. Hire competent employees by following a pre-determined qualifications guideline. Provide them with a decent salary. After that, you will now have to concentrate the oil and gas programs. Determine the pricing and the right advertising methods to use. You can also place a banner in your place of business to attract passersby. Send out flyers or leaflets about the grand opening. You can also provide business cards to potential clients. Tell your relatives and friends about the grand opening so that they will be able to tell others about it.

27 Comments

  • ogundoro ifeoluwa said on August 3, 2010
    plz i want to start an oil and gas business and i dont know how to go about it, how can you help me thank am from nigeria. Looking forward to a great response.
  • larry gardere said on August 10, 2010
    I want to start a oil and gas exploration business in louisiana
  • Segun Adeniran said on September 7, 2010
    Please I need an advice I have an existing company but with different aims now I want to diversify into oil and gas how can you be of help please.thanks
  • Rungano Mhande said on October 6, 2010
    am looking to invest in off shore market of oil and gas. am in zimbabwe, how can i do this? is the market that open for such?
  • dike paris said on November 15, 2010
    am looking for some one to put me through in the oil business.am a vibrant young man i can do any thing am versatile. this is my no 08066766288
  • Patrick Banda said on January 15, 2011
    I want ideas that will see the Cooking oil business succeed.
  • ogboona levi said on January 22, 2011
    i have already registered an engineering firm, but i want to go into the oil industry, am confused how to succeed
  • Udomiaye obor collins said on September 3, 2012
    I just had my first degree, i had a dream of setting up oil and gas company. i need ideas and fund, so how do i go about it. Social worker: Benin, Edo,
  • Amrizal Alamsjah said on October 8, 2012
    I would like to buy gas fields in Indonesia and will be funded by funding company in Dubai how can I start this business let me know.
  • Chris Elo said on November 12, 2012
    I really need someone that I will be their subordinate in the oil and gas business. Someone I serve to achieve a dynamic and excellent realization of their cooperate objectives.
  • Tunde Balogun said on January 3, 2013
    I really want to know the rudiment of the oil and Gas business especially in Nigeria. i just finished my Msc. and am so interested in getting into the oil and gas sector.
  • ahmad riyas said on January 4, 2013
    I want oil and gas business idea? I need cost of oil and gas business I from malaysia city kuala lumpur
  • m ruslan asari said on January 14, 2013
    I am running a consultancy firm specializing in giving expert advice on how to do business in oil and gas industry in Malaysia especially with PETRONAS. My partner and myself has been working with PETRONAS for the past 20 years and we have a lot to share on the subject matter. If you wish to know more, kindly contact me at the above email. Thank You.
  • Bipin kumar said on March 2, 2013
    Dear All, We are leading oil and gas trading company and supplier of this all across world, if you want to buy oil and gas or you want to get some idea, please fill free to contact me b.kumar@sysen.co.in Regards, Bipin
  • pasha said on April 16, 2013
    hi i want to start Lube Oil Business
  • george ugbebor said on May 7, 2013
    I actually want to go into oil and gas business. Please i need your advice. i intend to have it in Asaba, Delta state, Thanks, George
  • David Lozano said on June 9, 2013
    Looking to get into oil and gas exploration. We already own hundreds of thousands of acres of mineral rights.
  • holy sofi said on August 27, 2014
    Pls I want to start an oil and gas business and I some whom I can trust, some one who put me through in to it. Thank u.
  • Nishant Singh said on November 14, 2014
    I am from India and want to start an oil and gas exploration company in Alberta ,Canada. Any guidance where to start and how to arrange the venture capital funds.
  • sunday said on January 13, 2015
    i already have a petroleum company in nigeria, we need a company to partner with us, to take the company together into explorations of oil and gas in nigeria. 09034331936
  • ROTIMI Shittu said on March 9, 2015
    I currently run an oil marketing company in Nigeria. I am seeking to explore bulk purchase opportunities and importation . I need investors 07033319394
  • samuchendu@yahoo.com said on April 27, 2015
    I need to start an oil and gas business. Please teach me and send email to me using nigeria examples. Thanks, SAM CHIKE UCHENDU
  • Kunbi Alabi said on July 25, 2015
    I'm in the middle of creating a business plan for oil and gas trading. I need some expert advice as well as funding for my project. I'm currently looking into the downstream aspect of the industry. I'm an HSE professional in the oil industry. Investors are needed for this project. Would appreciate professional assistance and advice. Sincerely.
  • Noma said on April 27, 2016
    I am interested in doing business in an oil and gas industry.I am from South Africa and need advice on how to go about it.
  • Raza said on October 31, 2016
    I want to start a oil and gas exploration business in pakistan. But expense detail .
  • hadush said on April 12, 2017
    I need to start oil business from ethiopia
  • DAISY said on March 9, 2020
    I NEED HELP TO START LPG RETAIL FOR HOMES AND SMALL BUSNESSES.

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