The oil sector knows no crisis. Investments in the exploration and production of black gold and gas should reach 694 billion dollars this year (+11% compared to 2012) and 750 billion in 2014 (+8%). The numbers are from the Ifp Energies Nouvelles annual report, reported by Les Echos.
The sector is growing at a rapid pace, also linked to the new prospects that are opening up in various areas. "In the last 12 months, 177 hydrocarbon fields have been discovered - explained Nathalie Alazard-Toux of Ifp - It is too early to make estimates on volumes, but many of these are believed to be significant, in particular those in East Africa, Iraq and Kazakhstan. Brazil is also an important area”.
Most of the major producing areas have been affected by this growth. With the exception of North America, where investments recorded a modest +2%. “The pace had been particularly strong in the last 4 years, driven by shale gas,” recalls Alazard Toux. The slowdown is essentially explained by the sharp fall in the price of gas across the Atlantic, which has knocked down wells and profits.
