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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

MOL Signs Long-Term Charter with Uruguayan JV for FSRU

Japanese shipping company Mitsui O.S.K. Lines, has, through its wholly-owned subsidiary Lakler S.A., agreed to conclude a charter contract with Gas Sayago, for

Migrants Survivors Tell of Struggle at Sea

The bodies of 21 women and one man were brought ashore to Sicily on Friday as fellow migrants described scenes of panic and violence when water poured into their dinghy.

Three Keppel Dredgers for Jan De Nul

Keppel Offshore & Marine Ltd (Keppel O&M)'s wholly owned subsidiary Keppel Singmarine Pte Ltd (Keppel Singmarine) has secured contracts from Jan De Nul Group to

Marine Power

Wärtsilä Environmental Efficiency for Hybrid UK Ferry

A new ferry being built at the Cemre shipyard in Turkey for UK operator Wightlink will feature a comprehensive range of modern Wärtsilä equipment and systems to

Ship of the Year Award for NYK Vessel

Japan's first LNG-fueled ship, Sakigake, which is a tugboat owned by NYK has been recognized with a Technology Special Award at the 2015 Ship of the Year Awards

12th Chesapeake Tug for Vane Brothers

Chesapeake Shipbuilding Corp. of Salisbury, MD announced it has successfully delivered another ocean going tugboat to Vane Brothers of Baltimore, MD.   The boat,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction 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: 0.0765 sec (13 req/sec)