Several world regions still recovering from '98-'99 exploration slump

From November 1997 through March 1999, the petroleum industry suffered its most significant oil price collapse since 1986. OPEC surprised many by reducing quotas in March 1999, and it has enforced them since then.OPEC's announcement triggered a dramatic price rebound, with crude prices more than doubling by the fourth quarter.Following the surge in the oil price was an increase in exploration in latter 1999 following a very depressing first 6 months. Click here to enlarge imageThis article will focus mainly on exploration and delineation wells completed and contracts or concessions awarded to give an idea of world activity levels in 1999. Some of the more significant events will be discus...

Why Register?

Non-subscribers can only view whitepapers by providing name, home and email address, phone number and other information and comment on/rate articles.

Why Subscribe?

Oil & Gas Journal subscribers with login credentials can access these premium features of OGJ Online:

  • Current Issue – an html version of the current week's issue of Oil & Gas Journal.
  • Past Issues – An Electronic OGJ Archive. A keyword-searchable archive of all issues of Oil & Gas Journal dating back to 1990; also searchable by issue date.
  • Market Journal – a weekly round-up of the oil and gas markets, with observations from leading analysts.
  • Editor's Perspective – a short article of insight and opinion by the Editor of Oil & Gas Journal.
  • OGJ Industry Stats – quick access to current industry statistics from Oil & Gas Journal.
  • OGJ Survey Downloads - quick access to exclusive reports from Oil & Gas Journal.


Subscriber Help or Subscribe

Oil & Gas Journal Subscribers: Have your subscription number (from the mailing label on the cover of your Oil & Gas Journal) and e-mail address ready to set up your online account through Customer Service Assistant.

If you're not an Oil & Gas Journal subscriber, start a subscription and gain access to the subscriber areas of OGJ Online now.

Stay Connected