Characteristics of Global Offshore Oil and Gas Development

Oceans and seas across the world contain abundant oil and gas resources. In the last decade, offshore oil and gas discoveries, especially those made in deep and ultra-deep waters, have become the main growth pole of global oil and gas resources. In view of the long-term shortage of oil and gas resources in China, Chinese oil companies need to actively enter the international offshore oil and gas market and participate in the development and exploitation of offshore oil and gas fields. This is an objective need of China’s further development and an important opportunity for Chinese oil companies to improve their competitiveness and develop into international energy companies. This paper systematically reviews the distribution of offshore oil and gas fields around the world; analyzes the characteristics of changes in offshore oil and gas reserves and the production trend of offshore oil and gas fields; focuses on investigating the benefits of mainstream development modes for offshore oil and gas fields and their contributions to oil and gas production; and provides several recommendations for offshore oil and gas development, such as (1) seizing opportunities to acquire high-quality offshore oil and gas assets at opportune times, (2) getting familiar with and mastering the management mode for offshore oil and gas projects as soon as reasonably practicable, (3) doing a good job in the research and development of offshore oil and gas exploration & production (E&P) equipment, and (4) strengthening communication and cooperation with countries and companies having advanced systems and technologies for offshore oil and gas development.