Characteristics and Insights of Offshore Oil and Gas Exploration and Development Investment

Abstract
Figure/Table
References
Related Citation (0)

Download: PDF (850 KB) HTML (1 KB)
Export: BibTeX | EndNote (RIS)

Abstract The oceans’ vast expanse has given rise to copious oil and gas resources, with recent years witnessing a steady unlocking of offshore oil and gas potential, positioning them as a key successor in global energy reserves. Currently, offshore oil and gas extraction constitutes nearly a third of the world’s oil and gas output. This segment has evolved into a mutually beneficial ecosystem where operators and service providers collaborate closely around exploration and development activities. Investment in offshore oil and gas typically follows a dual “one-third” pattern, reflecting high upfront costs but promising returns. It also underscores the stark variations in project viability and regional economic efficiency, with monopolistic traits seen at both national and corporate levels. Collaboration has emerged as a key tactic for resource-rich countries and oil companies to advance their offshore ventures. Given the distinct nature of offshore oil and gas development, Chinese oil companies are advised to seize opportunities in marine exploration, emphasize the coordination and planning abilities of the global supply chain, focus on the reserves of offshore oil and gas development technologies, as well as the capabilities of commercial talents and other forms of support, courageously pursue significant offshore assets, and effectively utilize global technology, equipment, and expertise, and rapidly build a competitive edge in offshore oil and gas projects.

Published: 25 December 2024

	Service

	E-mail this article
	Add to my bookshelf
	Add to citation manager
	E-mail Alert
	RSS
	Articles by authors

Cite this article:

URL:

http://www.coag.com.cn/EN/ OR http://www.coag.com.cn/EN/Y2024/V31/I1/27

[1]	Chang Yuwen, Li Hongwei, Gao Feng, et al. Global Offshore Oil and Gas Development Situation and Outlook [J]. International Petroleum Economics, 2022, 30(3): 1-11.
[2]	Research Institute of Petroleum Exploration & Development. Global Oil and Gas Exploration and Development Situation and Oil Company Dynamics (2022) [M]. Beijing: Petroleum Industry Press, 2022.
[3]	Wang Luxin, Pan Jiping, Yang Lili. Current Status and Future Outlook of Global Deepwater Oil and Gas Exploration and Development [J]. Oil Forum, 2020, 39(2):31-37.
[4]	Liu Xinlei, Wang Zhaoming, Shi Buqing, et al. Analysis and Insights on the Global Oil and Gas Exploration Situation in 2018 [J]. International Petroleum Economics, 2019, 27(3): 23-28.
[5]	Liu Xiaobing, He Zhengjun, Ji Zhifeng, et al. Analysis and Recommendations for the Global Oil and Gas Exploration Situation [J]. Oil Forum, 2018, 37(6): 48-52.
[6]	Wang Zhen, Liu Mingming. Current Status of Deep-water Oil and Gas Development in Global and Major Regions [J]. World Petroleum Industry, 2013, 20(6): 38-42.
[7]	International Energy Agency. Offshore Energy Outlook 2018 [R]. Paris, 2018.
[8]	Offshore Magazine. 2019 Deepwater Technologies & Solutions for Concept Selection [R/OL]. https://www.offshoremag.com/resources/maps-posters/d o c u m e n t / 1 4 0 3 6 4 8 5 / w o o d - 2 0 1 9 -deepwatertechnologiessolutions-for-concept-selection. 2019.
[9]	S&P Global Commodity Insights. Global Upstream Spending (Issue 44)[R]. New York, 2023.
[10]	China National Offshore Oil Corporation.Guideline of Cost Estimation for Offshore Oil/Gas Development Project Documentation [R]. Beijing, 2002.
[15]	Wang Zhen, Bao Chunli. China Offshore Energy Report 2022 [M]. Beijing: Petroleum Industry Press, 2022.
[16]	Liu Mingming, Wang Zhen, Pan Yanni. Comparative Study of Fiscal and Tax Support Policies for Deep-Sea Oil and Gas Development [J]. Journal of International Economic Cooperation, 2014(2): 31-35.
[17]	L i u X i a o b i n g , D o u L i r o n g . International Major Oil Companies’Practices and Insights in Deep-water Oil and Gas Exploration: A Case Study of the Stabroek Block in Guyana [J].China Petroleum Exploration, 2023, 28(3): 78-89.
[18]	Liu Xiaobing, Wen Zhixin, Song Chengpeng, et al. Transnational Oil and Gas Exploration Trends and Insights [J]. China Petroleum Exploration, 2022,27(6): 1-12.
[19]	Li Zhi, Li Fuheng, Hou Ping, et al. Preliminary Study on Benchmarking Evaluation Methods for Exploration Strategies of Global Oil Companies [J].China Petroleum Exploration, 2022, 27(6): 137-144.
[20]	Dou Lirong, Yuan Shengqiang, Liu Xiaobing. Progress and Development Strategies for Overseas Oil and GasExploration by Chinese Oil Companies [J]. China Petroleum Exploration, 2022, 27(2): 1-10.