Top Offshore Oil Fields in the World
Oil is one of the most sought after resources in the world. Companies heavily invest in oil and gas fields to meet the world’s demands for the resource. But with growing population numbers and increased demand, supplies are quickly declining. The following offshore oil fields are some of the largest producers that are currently at half of their production and will continue to produce over the next decade.
Located off of Saudi Arabia’s east coast, and making up the Marjan, Maharah, Lawhaha, and Hamur offshore fields are the Marjan Complex. Operated by the Saudi Aramco, the Marjan Complex is the world leader in oil production and is one of the most profitable companies in the world.
North Field Expansion
The North Field Expansion is located offshore Qatar and is currently not online. As one of the largest non-associated natural gas fields in the world, the North Field is expected to come online in 2023 peaking at 4600.0 MMcfd by 2045. The area is operated by Qatar Petroleum and is the third-largest field with recoverable reserves.
Owned by Saudi Aramco, Zuluf is located off of Saudi Arabia’s northeast coast. Zuluf hasn’t even reached the midpoint of its field life and has only recovered 34% of its total recoverable reserves. In November of 2017, Saudi Aramco announced another major expansion to help develop Zuluf’s heavier crude reservoirs.
Located off the north-west shore of Abu Dhabi, the Upper Zakum oil field is the second-largest offshore oil field by recoverable resources in the world. Upper Zakum is also the fifth-largest by remaining reserves. Discovered in 1963, it is owned and operated by Zakum Development Company and is a joint venture of Abu Dhabi’s National Oil Company. ExxonMobil and Japan Oil Development are operating partners in the project.
Owned by Saudi Aramco and located 200km north of Dhahran in the Persian Gulf is the Safaniya field. Safaniya is operated with more than 24 production wells and is the second-largest offshore oil field by remaining reserves with over 17.1 BBoe. Having recovered approximately 54% of its total resources, Safaniya is midway through its field life.