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Global marine oil and gas exploration and development presents new features
In recent years, global offshore oil and gas exploration has made significant progress. Key regions such as the Persian Gulf, the Gulf of Mexico, and the North Sea have seen some of the most successful offshore oil and gas developments. In addition, areas like northern Russian waters, the South China Sea, the coast of Indonesia, Brazil's Campos Basin, and the Caspian Sea region have also witnessed major discoveries of oil and natural gas resources. Some of these fields are already in production, while others are under development. Deep-sea exploration in West Africa has also led to new findings, further highlighting the growing importance of offshore operations.
It is clear that the majority of recent major oil and gas discoveries are concentrated in marine environments. As a result, the share of offshore oil and gas reserves and production in the global energy mix is steadily increasing. This trend has made offshore exploration a key focus for leading international oil companies, driving competition and innovation in the sector.
Currently, the scope of marine oil and gas exploration has expanded from shallow and semi-shallow waters to deeper oceanic regions. As the challenges of deep-sea operations grow, the industry increasingly relies on advanced technological solutions. Modern marine exploration now utilizes 3D seismic technology and multi-component seismic techniques, significantly improving the efficiency and accuracy of exploration efforts. Drilling technologies, such as long-reach horizontal drilling and multi-lateral well systems, have also advanced rapidly, offering better performance compared to traditional onshore methods.
Looking at the current state of international marine oil and gas exploration, several distinct characteristics stand out. First, 3D seismic surveys at sea are more cost-effective and faster than their land-based counterparts. Major oil companies now prefer 3D seismic over 2D, especially in deep-water projects. Second, a large portion of the costs in offshore exploration goes toward building and maintaining platforms, which are expensive to construct. Reducing platform construction costs is a critical challenge for improving the economic viability of offshore projects. The use of extended-reach wells, multi-bottom wells, and branch wells has helped increase production efficiency and profitability in deep-sea operations. Finally, due to the high capital requirements and risks involved in offshore exploration, deep-sea projects typically focus on identifying large hydrocarbon traps and developing major oil and gas fields to ensure financial returns.