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Industry Flexes Muscles Again in Gulf of Mexico

Photo courtesy of Crowley Maritime.
Chevron’s Jack/St. Malo platform is towed toward its installation site. The semisubmersible facility, with a combined hull and topsides weight of about 75,000 tonnes, was later installed in 7,000 ft of water. Production is slated to start late this year.

The oil and gas industry is flexing its muscles once again in the US Gulf of Mexico (GOM) with a surge of activity expected to support a robust level of deepwater development through the end of the decade.

While headlines worldwide have gone to onshore North American shale drilling, the GOM remains a premier objective for the world’s largest international companies. A single deepwater well can produce more than a large number of onshore shale wells combined, which translates to a lower capital cost per barrel for companies with the financial and technical wherewithal to develop deepwater resources.

The doubt cast over the future of GOM development in the aftermath of the fatal BP Macondo well blowout and oil spill in 2010, and the ensuing deepwater drilling moratorium, has receded.

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Industry Flexes Muscles Again in Gulf of Mexico

Joel Parshall, JPT Features Editor

01 May 2014

Volume: 66 | Issue: 5

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