Marine Link
Monday, October 24, 2016

Offshore Rig Assessment Begins

September 1, 2005

As the extent of the damage to offshore oil facilities in the Gulf of Mexico slowly slowly started to emerge after Hurricane Katrina's passage, oil prices rose above $70 a barrel, according to a report in the New York Times.

The hurricane, one of the most severe storms ever to hit the United States, crippled the nation's foremost oil-producing region at the worst possible time for American and global energy markets. It will probably take days or even weeks before the full extent of the damage is fully revealed. Repairs are likely to drag on for months.

Most of the oil and gas production from the Gulf of Mexico remained shut off Tuesday. The region accounts for nearly a third of domestic oil production and a fifth of its natural gas output.

The Coast Guard said that its crews flying over the gulf had spotted several sunken platforms and rigs. The destruction was often accompanied by oil spills.

Offshore platforms were damaged by Katrina's winds and waves, and some had snapped out of their moorings and were drifting away; 10 refineries, accounting for 10 percent of the nation's capacity, were shut down and remained without power Tuesday; strategic pipelines linking the gulf to key markets in the rest of the country were still closed because they too lacked power.

Maritime Reporter Magazine Cover Oct 2016 - Marine Design Annual

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News