The National Mineral Resources University, Russia
Title: The Ural-African transcontinental oil & gas belt
Valentin Stephanov is from The National Mineral Resources University, Russia.
Conventional hydrocarbon fields are currently being depleted throughout the world. Oil and gas are becoming ever more difficult to access. More and more, the operations of oil and gas companies are aimed offshore. The globalization of the world economy is having a strong impact on raw materials markets, and these trends will intensify:
• the influence of raw materials resources on the economic stability of many countries will increase
• global transnational oil and gas companies will be less dependent on one government; they are already a mechanism for the rapid introduction of innovative technologies and are supporting economic progress in the developing nations
• the political and economic risks will increase in those regions where there are plans to increase oil production, especially in the Caspian, Venezuela and West Africa
• the Middle Eastern oil supplying nations are becoming more and more unstable
• nations that produce raw materials claim to be liberalizing their foreign trade policy, but in practice are limiting access to their fields
• competition in the sphere of energy resources is increasing, and this is accompanied by problems in deliveries of resources to not only individual consumers, but even entire regions
Therefore, the geographical extent of hydrocarbon resource exploration and development can be expanded in new geological provinces using new knowledge in the sphere of the geological structure and scientific and technical advances.