Oil and gas supply more than 60 percent of our nation’s energy. We’re not alone in being large consumers of oil and gas – the world consumes about 30 billion barrels of oil per year.
Discoveries and the search for new, untouched oil and gas occur every day, all over the world. New techniques, technologies, and innovations such as topographical maps, sound waves, aerial photography, and 3D projections help tap large amounts of oil and gas that were once considered unreachable.
For example, BP drills into the region of Prudhoe Bay, an oil field located in Alaska. This region has been in operation for over 30 years. Originally, BP expected to extract 40% of the oil located there. However, with the help of new technologies, BP has raised this estimate to 60%.
Africa’s east coast has also become a main attraction to many oil and gas firms. Over the years, there have been major gas finds in countries of Africa such as Mozambique and Tanzania, with a rise of exploration in the countries of Kenya and Uganda. Six of the top 10 oil discoveries of 2013 were located in Africa.
To date, 2014 has also been filled with new discoveries. According to the Oil and Gas Journal, Eni has made a significant oil discovery in offshore Congo (Brazzaville). In addition to this, according to TNN Egypt, Kuwait Energy announced the discovery of a new oil field in Egypt’s Abu Sinan, an area near the border of Libya. Statoil has also proved new oil discoveries in Stavanger, Norway, according to Offshore Magazine. It will be interesting to see what new discoveries 2015 holds.