Related Articles
Forward article link
Share PDF with colleagues

US GOM: Rig market stalls development

Despite a rush to build new vessels, a lack of ultra-deep-water drilling units will hinder GOM development for at least four years, writes Anne Feltus

SIGNIFICANT discoveries and technological advances have lowered the cost of exploiting reserves and fuelled interest in the US Gulf of Mexico's (GOM) ultra-deep waters. In recent years, tracts in waters at least 2,000 metres deep have attracted around a fifth of successful bids at US Minerals Management Service (MMS) lease sales. The number of wells drilled in water depths ranging from 1,500 to 2,300 metres has nearly doubled in the last two years, says the MMS – in mid-2007 a record 15 rigs were operating in water depths of at least 1,500 metres. And the pace of activity in deep offshore US waters could pick up further if Congress lifts a 27-year-old ban on drilling off most of the country

Also in this section
Venezuela going for broke
16 January 2018
The Maduro government wants a new deal on its debt. Things are going to get messy
Iraqi Kurdistan sinking fast
11 January 2018
The future of the KRI's oil sector is uncertain, with the federal government determined to bring all the country's production and exports back under its wing
Iraqi Kurdistan's wrong turn
11 January 2018
Burdened by political and economic crises at home, the autonomous region faces difficult talks with a newly confident federal government in Baghdad