Mississippi is ranked as the top place in the world for oil
and gas investment, according to the opinions of international
petroleum executives and managers in the Fraser
Institutes Global Petroleum Survey 2011. Mississippi,
which was ranked sixth out of 133 jurisdictions in 2010,
vaulted into the top spot this year. Along with Mississippi, US
states dominated the top 10 (Table 1), with Ohio finishing
second overall, followed by Kansas (third), Oklahoma (fourth),
Texas (fifth), West Virginia (sixth), Alabama (eighth) and
North Dakota (10th).
NetherlandsNorth Sea and Hungary (ranked seventh and
ninth, respectively) are the only jurisdictions outside North
America to crack the top 10. The province of Saskatchewan is
the highest-ranked Canadian jurisdiction, finishing 11th
The survey also shows the US offshore/Gulf of Mexico
experiencing one of the largest drops in the rankings,
plummeting to 60th place overall after finishing 11th in the
2010 survey, which was conducted before the Deepwater Horizon
Several other US jurisdictions also earned poor scores for
environmental regulations and
associated uncertainties. US Pacific/offshore was ranked 101st
overall, the worst among the 23 US jurisdictions included in
this years survey, after finishing 103rd last year.
California was the lowest-ranked state, dropping to 91st from
87th in 2010.
Survey respondents pointed to Californias
complex environmental restrictions, and
lengthy wait times to attain drilling approvals, as highly
unattractive, Mr. Angevine said.
Alaska, which respondents ranked as the second-least
attractive state this year, plummeted to 83rd overall from 68th
in 2010. Survey respondents remain critical of Alaskas
fiscal regime, environmental regulations and land
Globally, the top 10 most attractive jurisdictions in this
years survey are: Mississippi, Ohio, Kansas, Oklahoma,
Texas, West Virginia, Netherlands-North Sea, Alabama, Hungary
and North Dakota.
The least attractive jurisdictions (Table 2) are: Venezuela,
Ecuador, Bolivia, Iran, Kazakhstan, Uzbekistan, Democratic
Republic of CongoKinshasa, Iraq, Libya and Russia. All
but three of these countries (Uzbekistan, the Democratic
Republic of the CongoKinshasa and Libya) were also among
the group of 10 least desirable jurisdictions for investment in
the 2010 survey. The three countries displaced from this group
were Ukraine, Nigeria and Turkmenistan, each of which achieved
somewhat better results this year than in 2010.