re: Where do you see o&g headed in the future?

I am not in the O&G industry but this guy from BP seems to believe the future in O&G is 'North' as in the Artic.

quote:

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In conclusion, deepwater exploration has legs yet. Underpinning it will be ever improved and cheaper seismic data: seeing beneath shallow gas, salt and basalt, and allowing the mapping and de-risking through porosity and fluid indicators. However, with the elevated activity levels of the past few years, a decline in success rates is inevitable, and the discovery of new plays ever more difficult.

So where will industry go? Not west….but North

The ice-bound continental shelf and slope of the artic remains largely unexplored (see slide 7 of the slide pack). Yet 10% (19) of the world’s rivers discharge into the arctic and some have formed huge Tertiary delta systems, well known in front of the Canadian Mackenzie, Russian Lena and other rivers. But even more importantly the prolific West Siberian and Timan Pechora basins plunge northwards below the ice and water of the Kara Sea.

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