Offshore Drilling Trends
Authors: Rye John G. 
Published: December 2007

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Energy demands are continuing to increase worldwide and only the oil industry can provide the energy needed during the near future. Over recent years and as a result of the demand for oil and gas, techniques have been developed to explore and drill in the areas offshore under a variety of conditions, and the offshore drilling industry is now recognized as a separate and sophisticated technology. The last three years have seen great change in increased efficiency of operations and design of new and better equipment. If research and development work continues as presently planned, there will soon be additional changes in production methods and equipment technology which will allow us to produce oil and gas in much deeper water and produce oil and gas in much deeper water and remote, hostile areas.

The increased monetary budgets of oil companies, contractors and suppliers, which are committed to offshore work, strongly indicate the oil industry expects continued and accelerated growth in the exploration and development of the offshore areas around the world.

Introduction

Energy crisis? A look at increases in world energy consumption and projected energy consumption requirements is rather frightening World energy consumption has increased approximately 60% in the last decade and should quadruple over the next twenty-five years. This consumption is not only due to population growth but has grown, and will continue to grow, as the standards of the people of the world continue to improve. There is certainly no indication that the world population will not continue to grow or that people will accept their present standard of living.

This tremendous increase in energy consumption demands an eventual shift to energy sources other than oil or gas in the long-term future. In the near-term future, however, only oil and gas can provide the necessary energy since significant contributions from other sources don't appear possible before the mid-1980's.

Energy crisis? Even though most people outside the industry are just becoming aware of the crisis, we in the oil industry should know the problem and deal with it now. If we fail to provide the necessary oil and gas required to provide the necessary oil and gas required to meet energy needs, the blame will fall on the oil industry regardless of the political obstacles. In fact, many of the farsighted people in the oil industry have recognized the increasing need for production reserves and have taken steps already to provide for the future. The development of the offshore drilling industry was brought about to a large degree by this continuing need for additional production and holds hope of at least a partial solution to this crisis.