Offshore Oil Production Rising Globally

Akanimo Udofia pic
Akanimo Udofia
Image: desicongroup.com

Akanimo Udofia maintains responsibilities as CEO and managing director of Desicon Engineering, a leader in Nigeria’s oil and gas industry. In his senior roles, Akanimo Udofia is responsible for business strategy, growth, and sustainability.

One of the ways oil companies acquire oil is through offshore drilling, which accounted for 29 percent of the industry’s crude oil in 2015.

In that year, offshore oil production also rose, reaching the highest level in five years. Though the industry saw an annual decline from 2010 to 2013, production increased in 2014 and went even higher in 2015, the most current year with available data.

According to the US Energy Information Administration, 2015 saw over 50 countries produce over 27 million barrels. Brazil, Mexico, the United States, Norway, and Saudi Arabia produced the most globally, accounting for 43 percent of the yearly total.

Analysts expect figures to rise even higher for 2016, with many oil-producing countries continuing to increase their offshore production.

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