SINGAPORE, Reuter: Vast unexplored parts of the world will eventually yield as much oil as has been discovered up to now, a leading U.S. Geologist said today.
Many researchers feel that in the Arctic Basin alone there is the potential for accumulations of oil and gas which may equal those of the Middle East, Michel Halibut told a geology conference in Singapore attended by 400 delegates from 32 countries.
Geoscientific studies and surveys have indicated that a sizeable potential exists in the immediate offshore areas, he said.
Halboury, head of a Houston based Exploration Company and Chairman of the Circum -Pacific Council for energy and mineral resources, which group’s national geology associations, said there might also be significant oil and gas deposits under the ice of Antarctica
Harbouty said demand for energy would inevitably rise with population growth into the next century. He said oil and natural gas would remain the world’s mainstay fuels.
Studies of the earth’s structures had advanced more in the last five. Years than over the last 50 years, helping the search for new energy resources.
Article extracted from this publication >> August 22, 1986
