GO DEEP

Feature: Offshore Drilling: 5-Year Projection is $189B

"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.

Port Security Takes Center Stage

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 Goes Deep Off Nigeria

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

Oil, Gas Industry Push Deeper

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.

Marport Opens New Office in Ottawa Area

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

Bender Delivers Vessel to Otto Candies

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

Nera Introduces the Nera F33

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

CNOOC Building Deep-sea Drilling Rig

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

Nigeria Sees Future In Deep Offshore Fields

Nigeria's deep offshore fields showed more promise for oil finds than fields closer to shore, a senior Nigerian official said. Of the 18 wells drilled recently in Nigerian waters less than 1,000 m deep, 11 were dry. Of the 11 drilled in water over that depth, only two were dry, Funsho Kupolokun, special adviser on oil to Nigerian President Olusegun Obasanjo, said. Kupolokun said Nigeria expects to extract up to 850 trillion barrels from only four of its deep offshore fields

Bureau Veritas Extends Class to Offshore Drilling Safety

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