Minerals Report - International Seabed Authority

Figure 7. Geographic distribution of the world’s initial total recoverable oil resources
5. Development Prospects In Deep-Sea Areas
Commercial development of the hydrocarbon resources of deepsea
areas began in 1980s. The first two countries, in which offshore oil and
gas production exceeded the 200-m isobath, were the US (Gulf of Mexico)
and Brazil (western margin of the Atlantic Ocean). It is in these two
countries that petroleum exploration and development at sea depths more
than 500 m were concentrated in 1980s. In the northern Atlantic (North
and Norwegian seas) with a harsher physiographic environment, offshore
areas were successfully explored at a sea depth of 300 m and sometimes
more. During this period, offshore petroleum exploration in deep-sea
areas expanded into new geographic regions and deeper parts of seas.
After the geologic setting on the eastern margin of the Atlantic
Ocean was found to be similar to geologic conditions in its western
margin, conditions responsible for the formation of oil fields on the
continental slope off Brazilian coast, the first steps towards extensive
petroleum exploration in deepwater areas were made in some West
African countries. The interest of oil companies in deepwater areas off the
West African coast resulted in its becoming another deep-sea drilling
center in the mid-1990s. By the end of the decade of the nineties,
deepwater oil and gas exploration extended into the other parts of the
INTERNATIONAL SEABED AUTHORITY 499