Gulf of Mexico Deepwater Oil and Gas Production Rises Dramatically

Monday, November 15, 1999
The Minerals Management Service (MMS) announced production of offshore oil and gas in the deepwater (greater than 1,000 ft deep) portion of the Gulf of Mexico (GOM) reached an all-time high in 1998 and continues to escalate rapidly. Production of oil from the deep water has risen 279 percent in the last five years, and deep water gas production rose 252 percent. According to MMS Director Walt Rosenbusch, "The 1998 increase is significant and of national importance. The rising amount of production coming from the deep water has great momentum and will continue to play a key role in our national energy strategy." Rosenbusch added, "While total domestic production of oil declined some 410,000 bpd from 1994 to 1998, the decline would have been nearly twice as large if the deep water production had not increased by 321,000 bpd." From 1997 to 1998, oil production from the deep water in the GOM rose 47 percent. The production increase in 1998 was sustained by oil and gas company projects that began production in 1997 and 1998. In 1999, eleven additional projects in the deep water of the GOM have begun or are scheduled to begin.
Maritime Reporter November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

DNV GL Targets Safer Approach to Subsea Lifting

The completion of a joint industry project (JIP) to improve existing standards and regulations around subsea lifting operations has resulted in a new recommended practice (RP).

Polarcus Awarded 3D Project Off West Africa

Polarcus Limited has signed a letter of intent with Perenco Oil & Gas Gabon S.A. for a 3D marine seismic acquisition project offshore West Africa.   The project,

Boskalis, VolkerWessels Win Offshore Wind Farm Work

Royal Boskalis Westminster N.V., in partnership with Volker Stevin International (VolkerWessels), has been awarded a contract by Iberdrola Renewables Offshore Deutschland

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Pipelines Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1306 sec (8 req/sec)