Industry professionals gathered at the OTC, Offshore Technology Conference, to discuss a number of different topics and areas of interest. One of the areas of interest to many that attended the conference was the discussion of some of the top energy hubs in the world, which have great potential for those who are looking to invest and those who are looking to start or expand operations. Let’s look at some of the areas they discussed to see what type of actual potential they might offer.
Canada is already a player in the oil and gas field, and most feel that their role will continue to grow in the coming years. Experts believe that the demand for global energy will increase by a whopping 37% by 2040. This means Canada, as well as the United States, will need to find ways to increase their energy output for their own usage, as well as to help sustain the rest of the world.
While many people may not realize it, Canada is currently the largest petroleum producer and crude oil supplier to the United States. Keep in mind that Canada is on the Arctic as well, and there are likely to be plenty of exploration opportunities there in the future.
Mexico also has quite a bit of potential to grow even more in the gas and oil field. Thanks to the recent energy reform in the country, there are new opportunities for companies to invest, and there seem to be a substantial amount of untapped reserves right now. To say there is major interest in Mexico would be a massive understatement.
Geologically speaking, Brazil also has massive potential for gas and oil. They already have investments of more than $30 billion. By simply improving their current business practices and making themselves a better target for investors, they could grow even further.
One other area that should receive at least a brief mention here is Belize, the tiny Central American nation. They are currently considering opening up their borders and their shore to exploration and drilling. This area could hold great potential and is one that investors will certainly want to keep in mind.
These are just some of the many spots that are likely to become very important to the gas and oil industry over the years. Companies and potential investors will want to keep their eyes open as more opportunities arise in these locations.
About Oil Works Inc.
Oil Works, Inc. is a complete drilling rig equipment manufacturer and service provider based in the Permian Basin for over 20 years. OWI’s product and service offerings include Derricks, Substructures, Drawworks, Mud Systems, Rig Walking Systems, Power Generation, Control Systems, Iron Roughneck Repair. We are a complete Drilling Equipment Manufacturer and build to API and ISO standards. OWI is also proud to offer 24/7 Service and Support.