Deepwater drilling: greater depths may be contractor salvation

Journal Article · Sat Jun 01 04:00:00 EDT 1985 · Offshore; (United States)

OSTI ID:6319458

Dedmon, G

Thirty years ago the future of the petroleum industry lay offshore. Technology allowed exploration and production to move into a frontier that would add valuable reserves to the existing oil industry. Today, technology is moving the industry farther from shore. In 1965, the record water depth to be drilled was 632 ft. In 1984, the record was 6952 ft, a tenfold increase. Most experts agree that this was twice the maximum depth in which technology would allow production. As research and development funds are poured into this new frontier, feasible production depths will increase. Shrinking hydrocarbon reserves on land and in shallower water make it necessary. This rationale is the driving force behind speculation that deep water will be the lifesaver for the offshore rig contracting business.

• OSTI ID: 6319458
• Journal Information: Offshore; (United States), Journal Name: Offshore; (United States) Vol. 45:6; ISSN OFSHA
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020200* -- Petroleum-- Reserves
Geology
& Exploration
29 ENERGY PLANNING, POLICY, AND ECONOMY
294002 -- Energy Planning & Policy-- Petroleum
CONTRACTORS
DEPTH
DIMENSIONS
DRILLING
ECONOMICS
INDUSTRY
LEASING
OFFSHORE DRILLING
PETROLEUM INDUSTRY
TECHNOLOGY UTILIZATION