Deepwater drilling. Deepwater exploration vital to future
The importance of deepwater drilling to future reserve additions is illustrated by a prediction by Shell Oil Co. For every barrel of oil that will be found on land in the future, 2 will be found off shore, and one of those will be in deep water. One-half of the world's proven reserves of oil lie off shore, but only one-quarter of those are easily accessible in less than 650 ft of water. Twenty percent of the world's oil production and over 5% of its natural gas currently come from offshore fields. Even though a large capital investment is required to find and develop deepwater reserves, it is necessary for the Petroleum Industry to venture into deeper water and remote and hostile areas. In industry terms, offshore operations are still relatively new, and despite 30 yr of experience, the frontiers are constantly being extended.
- OSTI ID:
- 5932604
- Journal Information:
- Offshore; (United States), Vol. 43:6
- Country of Publication:
- United States
- Language:
- English
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Related Subjects
03 NATURAL GAS
NATURAL GAS
RESERVES
OFFSHORE SITES
PETROLEUM DEPOSITS
RESOURCE DEVELOPMENT
PETROLEUM
NATURAL GAS DEPOSITS
EXPLORATION
OFFSHORE DRILLING
OFFSHORE OPERATIONS
DRILLING
ENERGY SOURCES
FLUIDS
FOSSIL FUELS
FUEL GAS
FUELS
GAS FUELS
GASES
GEOLOGIC DEPOSITS
MINERAL RESOURCES
RESOURCES
020000* - Petroleum
030000 - Natural Gas