CNOOC Limited Announces First Deep-Deep Large Gas Field

Traditional oil and gas producers and exporters are lucky because they have a lot of easy oil and gas. But this conventional oil and gas is a bit like the cream on top of the milk. It’s very little but there is a massive body of lesser but still worthwhile milk to use. We might soon see peak easy oil – might. But when we go into unconventional territory meaning super-deep, shale, tight, sour, very high pressure, or hard to reach, produce or process there is plenty of space at the bottom. And those resources are closer to the market. Exporters should worry as their edge will wane.

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