2020 to See Growth in Natural Oil Production
Wednesday, December 2, 2009 at 08:51AM By Duncan Freer
According to a report by Houston based consulting company Ziff Energy Group Ltd, unconventional natural gas production will account for more than half of North America's gas supply by 2030. One of the main methods will be through Barnett Shale production, which in 2008 accounted for 70% of the 5 billion cubic feet of natural gas produced daily. Shale gas production accounts for around 8% of the total North American gas production. Incorporating new technology such as horizontal drilling and multi-stage fracture stimulation combined with rising natural gas prices has meant that shale production has become more economically viable.
But it's not just natural gas that is looking to more unconventional methods of extraction. Non-conventional oil is also back on the table, after years in the wilderness and being cited as too expensive or inefficient to use as a method of production. Non-conventional oil is produced or extracted using techniques other than the traditional oil well method and is a bone of contention with some environmentalists as it is seen as a particularly 'dirty' method of producing oil, including such methods as tar sands, heavy oil, oil shale and the conversion of coal or natural gas to liquid hydrocarbons through processes such as Fischer-Tropsch synthesis. However, as conventional oil reserves dwindle, these not so friendly methods are being looked at again to meet the growing demand for liquid oil.
It can also include more environmentally friendly production and extraction methods though, as the surge in interest in biofuels has shown. Thermal depolymerization of organic materials is also an area that oil companies are looking at to fill a gap in the market left by dwindling conventional oil supplies. These days, oil jobs and oil careers are not just about drilling and rig work - the biochemists are getting a look in on the field as well. Drilling jobs and oil rig jobs are set to continue, but the marketplace for oil workers has expanded beyond the conventional and into alternative methods of extraction and refining an end product that may come from different sources in the future.
Oil and gas experts have been having a plethora of meetings and symposiums to discuss the ever-changing face of oil and gas production, and all of them agree that the industry has to diversify into alternative methods of exploration and extraction to meet demand. This new approach to oil and gas production has the financial backing of some of the world's largest investors as they see alternative production methods having a far bigger role to play in the coming years. As a result, production is set to rise, but in unexpected quarters. Oil and gas experts feel that traditional, rig-based drilling methods will still continue to hold a dominant position in the production of gas and oil, but unconventional methods are seen to be playing a far bigger complimentary role in overall policy.
Some of these methods, such as tar sand and shale production, may meet with stiff opposition from environmental quarters as the production methods involved can have a far greater environmental impact than traditional drilling methods. However, the industry is desperate to squeeze every precious drop of oil and gas from resources and as a result research and development into making these methods cleaner is being prioritized. The economic return from shale extraction is also increasing, as methods of extraction become more efficient and less costly. It seems that unconventional oil and gas production will become the new growth areas in an industry that is seen as an essential part of economic life.
Duncan freer - Director - Oil and Gas Jobs Search is a job site dedicated to the specific needs of candidates who work in the Oil and Gas industry. We also provide recruiters with an online service that is effective in terms of cost and ease of use for a range of drilling jobs, oil rig jobs & oil careers
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