Offshore industry executives meet

Journal Article · Sat May 01 00:00:00 EDT 1993 · Sea Technology; (United States)

OSTI ID:6332823

Burns, R F

The future of the Gulf of Mexico is tied to the overall future of oil/gas on the international market as it relates to the US. Conquering this last frontier, possibly only through development of technology, was one of the themes covered in the 21st Annual Meeting of the National Ocean Industries Association held in early April, 1993 in Washington, D.C. Oil is the major source for foreign exchange but there are major uncertainties in predicting the future. The swing (imports vs. exports) is two million barrels per day. The big oil users (heavy industry) have reduced consumption. The last big uncertainty is the environmental policies of the West. Development of resources in the Gulf was the third record year in a row in 1992. The potential for hydrocarbon discoveries is significant, a substantial number of new fields have been made and significant discoveries are likely to continue. More than 100 trillion cubic feet of natural gas lies undiscovered offshore - 35% of undiscovered domestic resources. The oil potential exceeds nine billion barrels, more than any other basin except Alaska.

• OSTI ID: 6332823
• Journal Information: Sea Technology; (United States), Vol. 34:5; ISSN 0093-3651
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING
POLICY AND ECONOMY
02 PETROLEUM
03 NATURAL GAS
NATURAL GAS FIELDS
OFFSHORE OPERATIONS
RESOURCE MANAGEMENT
OIL FIELDS
PETROLEUM INDUSTRY
ECONOMIC ANALYSIS
GLOBAL ANALYSIS
ALASKA
GULF OF MEXICO
MARKET
NATURAL GAS
NATURAL GAS INDUSTRY
OIL-EXPORTING COUNTRIES
OIL-IMPORTING COUNTRIES
ATLANTIC OCEAN
CARIBBEAN SEA
DEVELOPED COUNTRIES
ECONOMICS
ENERGY SOURCES
FLUIDS
FOSSIL FUELS
FUEL GAS
FUELS
GAS FUELS
GASES
GEOLOGIC DEPOSITS
INDUSTRY
MANAGEMENT
MATHEMATICS
MINERAL RESOURCES
NATURAL GAS DEPOSITS
NORTH AMERICA
PETROLEUM DEPOSITS
RESOURCES
SEAS
SURFACE WATERS
USA
294000* - Energy Planning & Policy- Fossil Fuels
020700 - Petroleum- Economics
Industrial
& Business Aspects
030700 - Natural Gas- Waste Management