Scholarly record
REQUIREMENTS FOR THE IMPROVEMENT OF THE OIL EXPLORATION AND PRODUCTION ACTIVITIES FR OM THE SEDIMENTARY BASINS IN THE MIDDLE EAST
Abstract
The world’s 65\% or 70\% oil reserves are concentrated sedimentary basins in the Gulf States (Saudi Arabia, Iran, Iraq, Kuwait, UAE and Qatar) of the Middle East. Gulf States producers accounted for 24.7 \% of the world oil supply in 2005 and this share of supply will grow to 51,8 \% in 2030. However, the Middle East has a multitude of oil exploration and production problems closely interlinked to each other and originating from regimes problems, market problems, technology and know-how transfer obstacles. Oil supply from sedimentary basins of the Gulf region to world markets is involving basin analysis and petroleum exploration, drilling and production and, transportation which require science, engineering, technology and investment climate (political and economic stability). Current theocratic and authoritarian regimes in the Middle East do not facilitate effective exploration and production of the oil. Establishment of more democratic public and local administrations in the Middle East would help to enhance the oil exploration and production. In order to enhance exploration and produce more oil from nationalized fields with PSA or buyback contracts and technology transfer is crucial in the Gulf region.
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