by International Energy Agency, May 4, 2018
Energy produced offshore is a major component of global oil and natural gas supply and could provide an increasingly important source of renewable electricity. Resources are enormous, but offshore projects have to prove their worth in a changing market and policy context, amid a variety of pressures on the world’s oceans.
More than a quarter of today’s oil and gas supply is produced offshore, mostly in the Middle East, the North Sea, Brazil, the Gulf of Mexico and the Caspian Sea. While offshore oil production has been relatively stable since 2000, natural gas output from offshore fields has risen by more than 50% over the same period. Offshore electricity generation, mainly from wind, has increased rapidly in recent years, notably in the relatively shallow coastal waters of Europe’s North Sea.