Sustainable development is being widely promoted as the environmental vision for the world for the 21st century. It presents both significant risks and advantages for companies in the E&P industry.

The push for sustainable development could result in increasing constraints on the industry, possibly threatening the industry's viability. On the positive side, it offers companies the incentive to improve their internal operations and expand their benefits to society. This will result in more efficient, profitable companies and a more successful industry.

Companies can pursue a wide range of strategies to address sustainable development and its potential impacts. Significant efforts will likely be necessary if the industry is to maximize the benefits and minimize the risks posed by the sustainable development movement.

Keywords:
bcsd, sustainability, objective, agenda 21, protection, society of petroleum engineers, sustainable development, health, energy source, regulation
Subjects:
Environment, Sustainability/Social Responsibility, Sustainable development
Copyright 1994, Society of Petroleum Engineers
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