"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
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
Otto Marine says it has clinched AUD57-million worth of charter contracts in Australia for two of its large deep water AHTS vessels. Otto Marine Limited, which owns and operates a large fleet of offshore support vessels, with shipyard and other specialized offshore services, says that it has secured time charter contracts with two oil majors for its deep water anchor handlers, GO Sirius and GO Spica. Employed in drilling and pre-lay support, the 16
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
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.
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
Petróleo Brasileiro SA denied on Friday that it has hired JPMorgan Chase & Co to handle the sale of oil exploration licenses in deep-sea areas off the coast this year. In a securities filing, the state-controlled oil producer known as Petrobras reiterated the need to reduce capital
Mexico has approved the terms for five shallow water areas containing around 355 million barrels of oil equivalent as part of its Round One tender to open up the country's oil fields, the country's energy regulator said on Friday. The whole of Round One covers areas including the
Ice conditions have been causing concern for Great Lakes shipping industry. The satellite images show that the Great Lakes once again almost entirely covered in ice. Duluth News Tribune reports that the ice is causing worry in the Great Lakes shipping industry about the prospects of
A ship that ran aground at Fremantle Port early Saturday has been refloated. The 62,000-tonne Denmark-registered container ship Maersk Garonne became stuck in soft sand about 500m off South Mole. Jeanette Murray from Fremantle Ports said: “the Maersk Garonne was pulled free by
Royal IHC (IHC) has joined forces with Tompkins UK to enter the deep and ultra-deep water, oil and gas geotechnical survey and site investigation market under the banner of TI Geosciences. TI Geosciences will initially provide cone penetration test (CPT)/gravity coring services
Paraguay's Puerto Caacupe-mi successfully went live with the N4 Terminal Operating System (TOS), the operating system's developer, Navis, announced today in a press release. “The implementation process went smoothly because of the combined efforts of the Caacupe-mi and Navis teams
Vietnam's Ministry of Transport is seeking private sector investment for construction of seaports, Vietnam Briefing reported last week. The Vietnam Maritime Administration will announce a list of 42 maritime infrastructure projects, including 18 seaports, looking for private investment
DeepOcean was established in 1999 and is dedicated to subsea services and operations in deep waters, able to take on deep-water assignments anywhere in the world. The company is an integrated service provider for the subsea industry. DeepOcean has a global track record of subsea services including
Plans for significant further expansion of Lerwick Harbour’s extensive deep-water facilities for the offshore oil and gas industry have advanced with the award of a major contract to extend the quay at Dales Voe South to support subsea developments and decommissioning.
The World Heritage Listed Ningaloo Reef in Western Australia will be the focus of a new marine research partnership between CSIRO and BHP Billiton Petroleum announced today. Ningaloo Reef is the largest fringing reef in the world, extending 300 kilometres along the North West coast of
China's creation of artificial islands in the South China Sea is happening so fast that Beijing will be able to extend the range of its navy, air force, coastguard and fishing fleets before long, much to the alarm of rival claimants to the contested waters.
“How can we have a 21st century economy with a 20th century infrastructure?” Vice President Joe Biden recently posed this question to an audience at the American Association of Port Authorities (AAPA) annual meeting in Houston, Texas
Congestion at the U.S. West Coast ports could take as much as two months to unwind, according to port and trade group officials, with retailers and other companies bracing for further shipment delays after the apparent resolution of a months-long labor dispute.
Gerardus Chapel, the chief mate at the helm of the dredger that collided with a sailing yacht at the entrance to the River Orwell in Suffolk last summer, has received a six-month sentence. On June 8, 2014, Shoreway, a 98-meter, 5,000-metric-ton dredger owned by Koninklijke Boskalis
The Munkebo Maersk became the largest ship to ever sail up the River Thames as it called at DP World London Gateway, the U.K.’s newest deep-sea port hub. The 399-meter-long, 60-meter-wide, 195,000-ton Triple-E class vessel – equivalent in length to almost four football pitches and