They believe that roughly a third of the oil and gas potential under UK waters still remains to be extracted.
While Australia is the best part of 10-years behind the U.S. in terms of exploring for and developing its unconventional oil and gas potential it is a country which featured prominently in a 2011 analysis of world shale gas potential by the U.S. Energy Information Agency.
Making matters far worse for the potential of Greek oil and gas as a potential new revenue stream is the privatization effort launched by the new government.
The potential oil and gas fields weren't big enough to justify their costs.
Rathlin Energy was awarded their exploratory licence in 2008 by the Department of Enterprise, Trade and Investment to explore the north coast for potential oil and gas reserves.
And just yesterday, we announced the next step for potential new oil and gas exploration in the Atlantic.
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All told we plan to make available more than 75 percent of our potential offshore oil and gas resources from Alaska to the Gulf of Mexico.
There is no question that oil and gas produced from shale holds the potential for a transformation of the energy landscape in the United States.
Last week Iran had to postpone offering some 20 oil and gas projects for international tender because potential bidders were nervously wondering what the Americans would say.
Russia risks scaring off investors of all stripes, as well as potential customers for its oil and gas.
But since the break-up of the Soviet Union, it's been eyeing a potential new source of oil and gas -- the Caspian Sea.
Think about what this advancement has meant just in terms of access to the resources: When drilling into a hydrocarbon bearing formation 100 feet thick, vertical drilling would allow an operator to contact 100 feet of rock, which would limit your potential recovery to whatever oil or gas would flow into that length of pipe.
What could have a significant impact on our energy security, however, would be to invest the hundreds of billions in potential federal revenues from oil and gas royalties to accelerate clean tech innovation and deployment, helping America develop the clean and affordable energy sources needed to truly diversify our energy mix and secure our freedom from oil.
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Meanwhile, private firms push ever further into remote areas in search of lumber, minerals, oil and gas, creating a whole new series of potential flashpoints.
Like it or not, in the oil and gas industry and in other industries with catastrophic potential, the CEO must take on the primary leadership role in safety.
The islands' potential strength lies in their closeness to Iran's oil and gas deposits.
Natural gas also offers a potential solution to our dependence on expensive foreign oil to power our automobiles.
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Fuels would be taxed according to their CO2-generating potential (ie, coal more than oil, and oil more than gas) rather than the miscellaneous system of duties to which they are now subjected.
Africa is considered to have good hydrocarbon potential, with significant oil production coming from West Africa, and new promising gas discoveries in East Africa.
Nevertheless, to help wind and solar reach their potential, the president would pay for their tax breaks by ending some incentives given to oil and gas.
The application to test drill near the village of Llandow in the Vale of Glamorgan may still happen, and there are six other potential drilling sites in south Wales accordiing to Gerwyn Williams, of Bridgend-based Coastal Oil and Gas Limited.
The potential for discovery is enormous especially because all the majors left the Gulf of Mexico to seek oil and gas reserves outside U.S. Coastal waters in the belief that whatever was in the Gulf to find had been found years or decades ago.
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Oryx expects to learn more when it drills Banan this year. (See and excellent map of all the Kurdish oil and gas concessions here.) In an optimistic scenario laid out in the Oryx prospectus, Demir Dagh has the potential to give up 215, 000 bpd of oil by 2017, with the entire Hawler block (65% Oryx interest) producing more than 300, 000 bpd by 2018.
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