MMS: Oil Production Offshore GOM to Rise Steeply

Wednesday, July 17, 2002
The Minerals Management Service (MMS), Gulf of Mexico Region, released new oil and gas daily production rate projections that encompass the year 2006. According to the new report, Daily Oil and Gas Production Rate Projections From 2002 Through 2006, Gulf of Mexico Outer Continental Shelf, MMS is forecasting a daily oil production rate of between 2.00 and 2.47 million barrels by the end of 2006, and a daily gas production rate of between 10.97 and 16.39 billion cu. ft. by the end of the same year. These represent high case and low case estimates. MMS Director Johnnie Burton called the new projections "a healthy, sizeable increase in the range of possible oil production. Should the high case estimates be reached in 2006, we will see a 160-percent increase in oil production from the Gulf in the period 1995-2006." Oil production has been rising steadily in the Gulf from 945,000 barrels a day in 1995. Director Burton noted that "should the high case projection be met in 2006, oil production would be at almost 2.5 million barrels a day versus the 945,000 barrels in 1995." Gulf oil production was an estimated 1.5 million barrels a day in 2001. Gulf deepwater oil production surpassed shallow-water oil production in March 2000. According to these forecasts, as much as 77 percent of daily oil production in the Gulf and 26 percent of daily gas production could come from the deepwater Gulf of Mexico by 2006. Deepwater is defined as water depths 1,000 ft. or greater.
Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Fugro Achieves Innovation through Integration

When Aberdeen-based Diamond Offshore wanted to add new functionality to the existing helideck monitoring system on the Ocean Guardian drilling rig in the North Sea,

BMT ARGOSS Awarded OHSAS 18001

BMT ARGOSS, an operating company of BMT Group Ltd. has been awarded the universally recognized standard for occupational health and safety, BS OHSAS 18001. BMT ARGOSS,

Transocean Prices Initial Public Offering

Transocean Partners LLC, a Marshall Islands limited liability company formed by Transocean Ltd., has announced  the pricing of its initial public offering of 17,

Marine Power

WEG to Showcase Drive Solutions at SMM

WEG, a global supplier of drive systems, will showcase its range of systems for the shipbuilding and offshore industry at this year’s SMM (Shipbuilding, Machinery & Marine Technology Fair) in Hamburg.

Scottish Sea Farms Takes New Vessel Delivery

Scottish Salmon Farms has taken delivery of its latest vessel – powered by twin Doosan V158TIH main engines supplied by WaterMota.   Designed by consultant naval

There’s Still Time for SHIPPINGInsight Award Entries

Entry submissions for the first SHIPPINGInsight Award are due Friday, Aug. 1, but organizers said they will continue to accept nominations through following week to provide some extra time.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Offshore Oil Pipelines Port Authority Salvage Ship Electronics Ship Simulators Winch
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: 0.1015 sec (10 req/sec)