Onshore vs. Offshore Oil Drilling: Key Differences and Benefits

Although people may not realize it, they use oil every day. Oil is crucial to society’s modern way of life. When someone drives a car, rides a bus, takes an Uber, or heats their home or apartment, they rely on oil. But it doesn’t stop there. — an oil-based product — is used to make things people need and use every day — from luggage to asphalt and from dentures to eyeglasses. People need oil!

But how do humans get oil? Where does it come from? Those are excellent questions. Let’s take a closer look.

Oil is harvested through drilling.

There are two primary way people get oil:

Both methods are similar and useful, but there are some interesting differences.

Onshore Drilling

Onshore drilling has certain advantages over offshore drilling. One of the most obvious is that onshore drilling does not need to house employees onsite.

Onshore drilling also has the advantage of being able to start production quickly. Some offshore rigs require years of preparation before they begin drilling.

Cost comparisons also rate onshore drilling as much less expensive than offshore drilling. A typical onshore drilling operation may have expenses of less than $100,000 per day compared to a deepwater offshore process, which can incur costs of $600,000 to $800,000 per day.

Offshore Drilling

Offshore drilling may be more expensive, but it has certain advantages over onshore drilling. For one thing, a single offshore drilling rig can provide a large portion of a nation’s energy needs. This reduces dependence on OPEC — the Organization of Petroleum Exporting Countries — and lowers the likelihood of oil price manipulation.

In addition to promoting energy independence, offshore oil drilling can tap into substantial undeveloped oil reserves. The greatest untapped potential is in the Pacific Ocean, and offshore oil rigs are the only way to reach these reserves.

Due to the ocean’s huge untapped potential, offshore oil drilling can dramatically increase oil supplies, reduce oil prices, generate tax windfalls for the government, and create thousands of jobs.

Both have benefits — and both are needed.

It’s easy to see the pluses of both onshore and offshore drilling. And it’s important to remember that both are integral components of a comprehensive program for energy independence.

Originally published at https://imadadel.com.