Do We Need Offshore Oil?

In this presentation, we review the broader oil markets context to examine broader supply and demand trends, and their implications for oil exploration and production activities, including offshore oil. The presentation also addresses some of the impacts of increasing oil prices on the drilling and production assets and human resources used for finding and discovering oil—much of which focuses on deepwater plays. We review developments in the Gulf of Mexico and Alaska, the US’s two key offshore regions. Finally, we consider the prospects for an oil shock in the next 36 months, and the role of offshore oil in mitigating such risks.