More Oil found at sea as land dries up
Many oil fields close to shore have become off limits to a number of oil companies, in the face of poor international relations and environmental
regulations. In a bid to continue and increase the production of oil, some companies have returned their attentions to unexplored regions of the sea -
and the gamble seems to be paying off.
Countries such as Iraq, Russia, much of the Middle East, Venezuela and parts of the US are now forbidden territory due to political turbulence and
violence or pressure from environmental bodies. Those that do allow Western exploration only do so under extreme limitations or under the
parameters placed by curbs on foreign investment. During the global recession, this has helped to potentially choke the life out of the oil industry.
However, the oil industry has responded by deciding to retain its existing workforce. Whilst it has suspended any thoughts of wage increases, there
have been no efforts to streamline oil jobs. The result is that, as new resources are found, these companies are prepared and ready to exploit
Opportunities are emerging in the form of unexpectedly large quantities of oil being found at sea. This not only means an increase in oil production, but
it also points to an increase in the recruitment sector. Many oil rig jobs, including drilling jobs and other oil jobs and careers are likely to be created in
response to these new discoveries.
These are timely discoveries; the current climate for oil production has become increasingly adverse. The economic downturn has placed restrictions
on the industry as a whole and many of the large oil fields that have been mined over the last century have started to dry up. In response to these
factors, many industry experts have made gloomy forecasts, predicting a sudden peak in oil production, followed by a swift and sharp decline. The
reserves that have recently been discovered have proven to be extremely substantial and largely untapp