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Offshore Oil and Gas at the Millennium

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The Oceans: Key Issues in Marine Affairs

Part of the book series: The GeoJournal Library ((GEJL,volume 78))

Abstract

This chapter explores the offshore oil and gas industry at the turn of the millennium, identifying the major geographical patterns and trends. It discusses the major reasons behind these trends and what lies in store for the first decade of the next century. A temporal perspective is adopted, with the chapter not only representing a ‘snap-shot’ in time, but also drawing on an analysis of past trends and predictions of the future, as appropriate. The fiirst part of the chapter sets the scene in terms of the market and price trends that have significantly influenced the pattern of offshore oil and gas development over the 1990s and the first few months of the new millennium. The chapter then turns to the evolution of global production and the contribution of offshore supplies from different regions of the globe. To this are added current patterns of offshore exploration and development activity, which will serve to modify the geography of the industry offshore over the next few decades. For a longer-term perspective, estimates of future offshore reserves are also drawn upon.

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    Hance D. Smith

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Pickering, H.J. (2004). Offshore Oil and Gas at the Millennium. In: Smith, H.D. (eds) The Oceans: Key Issues in Marine Affairs. The GeoJournal Library, vol 78. Springer, Dordrecht. https://doi.org/10.1007/978-1-4020-2780-2_7

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