World Offshore Oil and Gas Production (20889 bytes)
World offshore oil production is expected to grow 3.5% this year, outpacing the 1.5-2% growth expected for production including the onshore sector.
However, offshore growth will be less than last year, when offshore production advanced 5.9%, predicts Mackay Consultants, Inverness, Scotland.
Mackay pointed out that its estimates are produced before official statistics are available.
The 1994 growth rate for offshore oil production was more than five times that for the industry as a whole, Mackay said. "We expect the oil industry to maintain a high growth rate in offshore production this year and the next few years."
Northwest Europe's offshore production showed the biggest 1994 gain - a 19.5% increase from 1993 production. Most of 1995's growth also is expected to come from the North Sea.
Five fields went on stream off the U.K. in 1994, and six other fields are scheduled to start up this year: Birch, Douglas, Nevis, Gawain, Pelican, and Tay.
Norwegian oil flow will grow even faster in 1995, with new fields such as Froy, Heidrun, and two Statfjord satellites going on production.
Growth rate for North Sea gas production is so rapid the area may soon overtake the Gulf of Mexico as the world's top regional producer.
Mackay expects Northwest Europe's offshore gas production to rise 7.7% this year, compared with only 2.4% for the Gulf of Mexico.
The Far East will be the second fastest growth area for offshore gas at 5.3% this year. Growth in other regions will range from 0.8% to 5%.
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