Exploration growth outside U. S. to continue
- Pecten International Co., Houston, TX (US)
International projects will be the major exploration focus during 1992. New opportunities continue to become available, as the world's governments and major national oil companies are changing their monopolistic policies to allow joint ventures within the industry. Exploration within the U.S. by major oil companies will continue to decrease, while the independents are expected to maintain modest prospecting activity. The opportunity to participate in a billion-barrel oil discovery will continue to attract both the major oil companies and independents to international exploration. A good example is the recently announced discovery in Colombia's Llanos basin. Large exploration programs are active currently in several countries that opened their doors to the industry in recent years-notably, Yemen, Myanmar, Peru and Algeria. This paper reports that these countries are under-explored, and the potential exists for large discoveries.
- OSTI ID:
- 5498776
- Journal Information:
- World Oil; (United States), Vol. 212:12; ISSN 0043-8790
- Country of Publication:
- United States
- Language:
- English
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