The Exploration Transformation

Part 2 of 2

The world is awash in oil at the moment, but with chronic underinvestment in exploration coupled with global energy demand steadily rising, the stage may be set for an oil price spike in the years to come, according to some analysts. Others, on the other hand, predict that improved production methods and project efficiency will go a long way toward meeting supply demands with existing reserves.

Image Caption

Blurred traffic in downtown Hong Kong, China. With China and other developing economies and their everincreasing demand for cars, even with the transition to alternative energy, there will still be long-term, increasing demand for hydrocarbons.

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