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Securing Oil & Gas supply in 2017

22/02/2017
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Given the central role that fossil fuels play in powering modern civilisation, it's no surprise that Oil & Gas operators execute stunning feats of engineering and go to such great lengths to secure these commodities.

Despite the growing role that renewable technology plays in the modern energy mix, Oil & Gas continue to provide the bulk of our energy requirements (40.7% Oil and 15.2% Natural Gas of the overall total according to a report by the IEA in 2014).

Indeed, our collective appetite for Oil & Gas looks set to continue as the following figures attest:

  • The world economy is expected to almost double over the next 20 years, with growth averaging 3.4% p.a. (at Purchasing Power Parity exchange rates).
  • The world's population is projected to increase by around 1.5 billion people to reach nearly 8.8 billion people by 2035.
  • Much of the expected growth in the global economy is driven by emerging economies with China and India accounting for around half of the increase.

It's clear that globally our demand for energy, and therefore Oil & Gas, isn't going to disappear anytime soon. So we've taken the opportunity to look at some of the major Oil & Gas projects that are contributing toward global energy supply this year. Take a look at the video above and the infographic below to find out more!

Watch more video's from Fircroft on our YouTube channel here.

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Securing Oil & Gas supply in 2017 - Time to read 2 min
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