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Minerals Report - International Seabed Authority

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These areas are almost exclusively on the continental shelves and<br />

contain sedimentary sequences greater than 1,000 m in thickness. Proved<br />

reserves are those that are currently available under present technology, and<br />

do not include those areas where favourable conditions for hydrocarbon<br />

formation and preservation occur. The location of fields ranges from the<br />

continental slopes of northern Alaska to Tierra del Fuego and from the South<br />

China Sea to the Gulf of Mexico. With the exception of a small area off central<br />

western Africa, none of these areas lie within the ELCS regions.<br />

According to the <strong>International</strong> Energy Agency (IEA, 1996): “The<br />

concentration of oil reserves and production is as pronounced in the offshore<br />

areas as onshore. The top ten offshore fields accounted for 25% of estimated<br />

1995 world offshore production and the top 25 fields over 40%.”<br />

IINTERNATIONAL SEABED AUTHORITY 716

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