"Over the next five years it is expected that 15,000 offshore wells will be drilled worldwide, at a total cost of some $189 billion. Of these wells nearly 4,500 will be exploratory costing $75 billion, and around 10,500 will be development, costing $114bn. It is estimated that drilling and completion expenditure in 2003 was $36 billion. Spending levels are expected to grow somewhat over the next two years and then decline slightly, stabilising at about $37 billion per year." These are among the findings of the second edition of The World Offshore Drilling Report, published by Douglas-Westwood. Going Deeper The largest change that is forecast by the energy analysts is continuing growth in deepwater drilling (over 500 m water depth) which contrasts with a long-term decline in shallow water activity. "In the last decade reductions in available shallow water drilling opportunities have been counter-balanced by increasing deepwater activity. On average around 3,000 to 3,200 offshore wells are drilled each year of which 12 percent are now in deepwaters. These are expected to increase to around 17 percent of all wells drilled in 2008, with $56bn (30 percent of the total) forecast to be spent globally on drilling and completing deepwater wells over the next five years. This is an increase from $37bn (22 percent of the total) in the previous 5-year period," said study author, Dr. Michael R. Smith of EnergyFiles Ltd.
As the search for oil and gas reserves continues, exploration and production activities are occurring in increasingly harsh environments and drilling is going deeper than ever before. An experienced petroleum engineer is set to explain exactly how far this could extend – namely to Mars - at a Society of Petroleum Engineers (SPE) Aberdeen presentation and dinner meeting this month. Professor Alfred William Eustes III, a petroleum engineering and drilling specialist
M/V Juanita Candies was successfully delivered to Otto Candies, Inc. The vessel immediately departed Mobile en route to Fouchon, La. to go on long-term charter to Conoco in support of their deepwater drilling program. Both Agnes Candies and Juanita Candies have gone to work on high profile, deep water drilling projects, which is exactly the kind of work they were designed to perform. Feedback from the Candies operations people confirm the vessels are performing their mission well
The entire United States (and anyone else in the world with access to cable or for that matter any TV) has become intimately involved in what is sure to become the seminal event of our time. The World Trade Center terrorism will change all of our lives in some respect from the day of the event onward. The only question is how much our lives will be changed. Even after the current threats pass our lives will ever be altered
Total reportedly launched its second Nigerian deep water drilling project, scheduled to come on stream in 2012 and expected eventually to yield 180,000 barrels a day, according to an AFP report. The new Usan project follows Total's first Nigerian deep water investment, the Akpo field. Deep water fields are further out to sea than offshore fields in shallower waters nearer the coastline. The new field will be operated by Elf Petroleum Nigeria Limited, a Total subsidiary
Ottawa, Ontario – May 2, 2011 – Marport Deep Sea Technologies Inc., a leading developer of advanced sonar technology for commercial and military applications, is pleased to announce the opening of a new office in Kanata, Ontario. Known as "Silicon Valley North", Kanata boasts a strong and vibrant high tech community and is within a 20 minute drive of downtown Ottawa. The new office will provide engineering and sales support to Marport’s commercial, government
Norwegian satellite equipment provider Nera SatCom AS, together with Inmarsat, introduced the new Nera F33 product concept to the maritime market. The Nera F33 will fill the gap between the existing Inmarsat Mini-M service /Nera WorldPhone and the global Inmarsat Fleet 77 service / Nera F77. The new Nera F33 is based on the Inmarsat Fleet F33 service concept, providing the light marine market with improved data communications from equipment suitable for the demands of today’s commercial
The oil and gas expanded the offshore drilling frontier in the Gulf of Mexico. Already one of the most explored basins in the world, the Gulf of Mexico’s deepest hydrocarbon deposits will be auctioned off later this year, the result of political maneuvering in the waning moments of the last Congress. This new area will attract interest from companies with deep pockets and lots of patience, according to industry experts.
China will finish its first deep-sea drilling rig with a maximum working depth of three kilometers by 2011, a spokesman for China National Offshore Oil Corp. (CNOOC) said. The maximum drilling depth will reach 12 kilometers, which means it can operate in deep-water regions in the South China Sea, Southeast Asia, Gulf of Mexico and West Africa. The project, with a total investment of $599m, will be carried out by Shanghai Waigaoqiao Shipbuilding Co. under China State Shipbuilding Corporation
International classification society Bureau Veritas has extended its classification rules to include the items of drilling equipment which are essential for the safety of offshore drilling operations. These rules cover well control equipment including Blow-Out Preventers, marine risers, tensioning systems, heave-compensation systems, drawworks, mud circulating systems, cementing equipment, drilling derrick and supporting structures
Atlantic Coast Marine Group, Inc. successfully responds to World War II era motor tanker leaking massive cargo of oil into the Atlantic Ocean's waters. Beaufort, North Carolina-based Atlantic Coast Marine Group, Inc. (ACMG), a marine salvage, emergency towing and environmental services provider
Norway’s Kleven announced it has signed a shipbuilding contract with Malaysian based joint venture company IES Pioneer Ltd. The vessel is of Norwegian design company MarinTeknikk’s MT 6015 MPSV design and will be outfitted with a crane, helideck and FiFi II
The Peruvian Ministry of Defence has awarded a USD$67 million contract to General Dynamics Land Systems-Canada for 32 Light Armoured Vehicles (LAVs) for the Peruvian Marines. General Dynamics Land Systems, the Canadian company's parent corporation, is a business unit of General Dynamics
Oil from a spill or oil well blowout in the Arctic waters of Canada's Beaufort Sea could easily become trapped in sea ice and potentially spread more than 1,000 kilometres to the west coast of Alaska, a World Wildlife Fund study showed on Friday.
NAMJet’s tractor jets seal the deal on a significant military boat building contract. The Army’s one-of-a-kind bridge erection boats fill an obscure, shallow draft workboat niche, while showcasing capabilities that someday could be commercially viable.
Dutch marine services company Fugro NV has warned that weakness in the oil and gas industry, combined with technical difficulties, meant its results for the first half would fall short of expectations, hammering its shares. Fugro, involved in the search for Malaysia Airlines' missing flight
The rise in Great Lakes water levels has yet to translate into full loads for the U.S.-flag freighters moving iron ore, coal, limestone, cement and other cargos. Vessels continue to routinely leave port with less than a full load on board.
The new nautical chart 11525 extends eastward, to cover an additional pilot boarding area for vessels headed to the Charleston Harbor. Ships entering the Port of Charleston will have a new and improved nautical chart that covers a larger area to ensure safer navigational approaches into the
COSCO (Guang Dong) Shipyard Co. Ltd is going to build a further two platform supply vessels of the ULSTEIN PX121 design for Vroon Offshore Services, the Netherlands. Ulstein has entered into an agreement with COSCO on delivering ship design
Coast Guard search-and-rescue crews are searching for a man who went missing during a commercial shark diving venture in the vicinity of West End, Bahamas, Sunday night. Missing is John E. Petty, 63, hometown unknown. Coast Guard 7 District command center watchstanders were
DNV Petroleum Services’ (DNVPS) independence from Det Norske Veritas (DNV) less than a year ago led to the creation of Veritas Petroleum Services (VPS), a new entity that continues to retain its global leadership in fuel management services and enduring collaborative partnership with DNV GL
Nordic American Tankers Limited (NAT) took delivery of its 21st Suezmax vessel, the Nordic Sprinter, built in 2005 at a shipyard in Korea. NAT agreed to purchase the vessel along with its sistership for $36.5 million each. NAT expects the delivery of the second vessel in early August 2014
The search for the missing schooner 'Nina' by the Rescue Coordination Centre New Zealand (RCCNZ) in June-July 2013 went beyond what many overseas authorities would have conducted, an independent reviewer has found. RCCNZ explain that David Baird
Mexico on Friday put into effect an agreement signed in 2012 with the United States to allow companies to exploit deep water oil resources in the Gulf of Mexico that straddle the countries' maritime boundaries. The deal, published in the government's gazette
The port of Rotterdam achieved steady results in the first half of the year. Total throughput increased by 0.6% compared to the first half of 2013. The throughput of crude oil increased by 3.3% while that of mineral oil products decreased by 13.5%. The throughput of coal grew by 9