On potential energy source --- offshore oil

Many nations have been faced with a series of problems caused by energy shortage. It is wise to put conservation of energy along with exploration of potential energy source into practice. No doubt, offshore oil is huge potential.

As a matter of fact, offshore oil exploration, which is still at initial phase, has become a major factor in satisfying the nation's thirst for the natural resource. According to Statistics China, its oil and natural gas output surpassed 60 million metric tons in 2010 announced by China National Offshore Oil Corp (CNOOC). It is a fact that CNOOC has entered Africa, South America, the Middle East, and Australia for cooperation opportunities in oil and gas projects. With the requirement of energy developing, China has joined the world's elite club of offshore oil producers.

The result of statistical calculation shows that offshore oil will make up 40 percent of the world's oil output by 2015, compared with 34 percent in 2004, figures from the China Petroleum and Petrochemical Engineering Institute. Besides, offshore gas will account for 35 percent of the world's gas output over the same period.

On average, the world's offshore oil detection rate is 73 percent, while in China the rate is only 12.3 percent. It is means there is still large room for offshore oil exploration, especially in the deepwater area.

The fact that China has joined the world's elite club of offshore oil producers is marks a milestone that China has become one of the world's largest offshore oil producers after some developed countries, such as the United States, the United Kingdom. What’s more, the marine petrochemical industry contributes to integrate into the global economy through international cooperation and support other countries' development. It will also boost the country's energy supply. Above all, more sophisticated equipment should be developed with speeding up technology innovation.