Tuesday 20 September 2011, Amsterdam
The Arctic remains one of the final frontier areas for oil and gas exploration. Although oil and gas has been produced in the Arctic region for years, many of the vast oil and gas fields that initiated interest in the Arctic are in decline. The high oil price is again driving investment in E&P in this region as the focus gradually moves offshore from the prolific onshore areas. The vast estimated reserves in the Arctic coupled with improving technologies to cope with the harsh Arctic environment have led more companies to explore this region over the last few years. The new market study on ASDReports has calculated the Arctic oil and gas exploration and production market to be worth $11.93bn in 2011, and is anticipating growth over the next ten years.
Although the Arctic has incredible potential, with the United States Geological Survey (USGS) estimating 90 billion barrels of undiscovered oil and 1,668 trillion cubic feet of undiscovered gas, a calculated and cautious approach to exploitation will be vital to optimal development. Due to the lack of geological data transparency in the Arctic, oil and gas exploration and production will be a high risk, high reward venture in which only the most experienced companies can compete.
The Arctic Oil & Gas Exploration & Production (E&P) Market 2011-2021 report guides readers through the current and future developments in the global Arctic oil and gas E&P market with forecasts for onshore and offshore growth. Market forecasts are also provided for each of the major Arctic oil and gas nations, with in depth country analysis and specific drivers and restraints discussed in each case. The report contains 64 tables and charts illustrating market development and influencing factors in the Arctic E&P industry. Profiles of the leading Arctic E&P companies are included covering the significant Arctic projects.
The report also describes the physical and technological challenges of working in the Arctic, along with the enabling technologies that have made Arctic E&P possible. The strengths and weaknesses of the Arctic E&P market are also looked at in order to provide a balanced and clear analysis for the 2011-2021 forecast period.
The Arctic Oil & Gas Exploration & Production (E&P) Market 2011-2021 report will be a valuable source of information to those already involved in the Arctic oil and gas E&P market and to those wishing to enter this pivotal market in the future.