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 October 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Danish-South Korean Co-operation Strengthened

The Danish-South Korean Green Growth Alliance met for roundtable talks yesterday. The Minister for Business and Growth's meeting with the South Korean Minister

Seadrill Hopes to See Market Turn in 2017

Offshore rig driller Seadrill is facing another two years in the doldrums but hopes the international rig market could turn around in 2017.   Rig rates have more

Eni Arctic Service Rig Extension Okayed

Italian oil company Eni has received permission from Norway's Petroleum Safety Authority to extend the use of a service rig on its troubled Arctic Goliat oil field offshore Norway until Nov.

Marine Power

Volvo Penta Doubles Service Interval

Volvo Penta today announced a new extended service interval for its commercial marine diesel engines.   Under the new program, owners can double the maximum oil change interval to 1,

Friendship to Green Ships

Korea and Denmark both have ambitious national plans for a transition to greener and more energy efficient economies.    The Danish-South Korean Green Growth Alliance met for roundtable talks.

EfficienSea2 Rolls out Maritime Cloud

The Danish-led e-navigation project, EfficienSea2, got one step closer to being launched when a core element of the project – Maritime Cloud – was debated by a

Maritime Contracts Maritime Security Navigation Pipelines Salvage Ship Electronics Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | 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: 0.2936 sec (3 req/sec)