The North Sea is situated between the shores of Great Britain, Netherlands, Belgium, Germany, Denmark and Norway. It covers a total covering area of practically 750,000 quadrilateral kilometers with an median water depth of about 95 meters. It may well be the largest oil and natural gas depot in Western Europe.
During the 1970's oil and gas reserves were discovered in the North Sea. However, North Sea oil reserves did not play such an leading role until the 1980s and 1990s when big oil projects were launched in the area. Although the bad weather of the North Sea and its water depth requires costly equipment for offshore oil extraction, the area has political stability and ready entrance to European oil markets.
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Brent crude oil was one of the earliest petroleums that were recovered from the North Sea. Currently Brent crude is still an leading standard for comparing oil prices.
There are currently five countries involved with North Sea oil discharge and production. They are the United Kingdom, Netherlands, Norway, Denmark and Germany. The rest of this article provides a closer look at a few of the North Sea oil fields.
Brent Field was discovered in the far north of the North Sea area in 1971. The sandstone layers of this area has held more than 500 billion liters of oil for millions of years.
Forties Field was discovered in 1970 and it has also held more than 500 billion liters of petroleum for a very long time.
Leman Field was found in 1966 and it is currently the largest gas field in the southern North Sea area.
South Brae Field was discovered in 1977. Its crude oil depot was found at a greater depth than other North Sea oil fields. Its crude oil is hot and corrosive.
There is currently a downward trend in the output volume of North Sea oil. The start of new projects, high oil prices and the discovery of new North Sea oil reserves may help to temporarily slow this decline in output volume.
North Sea Oil Fields and Petroleum outputRelated : todays world news headlines
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