"Deepwater drilling" refers to a process of extracting oil or gas reserves that is carried out in deep parts of the ocean. It involves drilling wells at considerable depths, typically greater than 500 feet, to reach and extract these valuable resources from beneath the seafloor.
Full definition
«Louisiana Gov. Bobby Jindal wrote President Obama a letter on Wednesday criticizing his decision to implement a temporary moratorium of
deepwater drilling in the Gulf of Mexico.»
Forget the dangers
of deepwater drilling in a strait plagued by storms and icebergs, and the difficulties — greater than in the Gulf of Mexico — of capping a leaking well there.
The decision to implement a 6 - month moratorium
on deepwater drilling in the Gulf of Mexico was correctly based on the need for adequate spill response, well containment and safety measures, and we stand behind that decision.
The numerous technical and operational breakdowns that contributed to the Deepwater Horizon oil rig explosion and spill from the Macondo well in the Gulf of Mexico suggest the lack of a suitable approach for managing the inherent risks, uncertainties, and dangers associated with
deepwater drilling operations and a failure to learn from previous «near misses.»
The government said the new moratorium is to «protect communities, coasts, and wildlife» while oil and gas companies implement safety measures to reduce the risks of blowouts and oil spills associated
with deepwater drilling.
We are assuming customers will view
deepwater drilling as increasingly essential, as was the case prior to the development of shale fields.
On July 12, Secretary Salazar suspended
certain deepwater drilling activities based on his authorities and responsibilities under the Outer Continental Shelf Lands Act (OCSLA) to ensure safe operations on the OCS.
The decision was supported by an extensive record of information supporting his determination that certain
deepwater drilling posed a threat of serious, irreparable, or immediate harm or damage to the marine, coastal, and human environment.
For example - on the risks of offshore
NL deepwater drilling by Chevron - comparing it with a well drilled in Hibernia, then the Gulf of Mexico spill - with bar graphs starting at sea level downward.
The multinational oil company said it has instituted significant safety and risk management improvements already, and that it is working with contractors and regulators to
improve deepwater drilling operations and contractor services.
Despite the legal wrangling
over deepwater drilling, and with no end to the Gulf spill in sight one thing is clear — the role that ROVs play in the energy industry will grow over time.
Vlado has been cited in two submissions to the Australian Senate «inquiry into foreign investment by state - owned entities»; and a submission to the UK Parliament's Energy and Climate Change committee's «inquiry into
UK deepwater drilling — implications of the Gulf of Mexico oil spill».
Rather, environmental regulations and policies are of greater concern — including environmental impact assessments, permit approval processes,
deepwater drilling rules in the Gulf of Mexico, and regulations aimed at reducing emissions of carbon dioxide and methane.
The increase comes in large part from new offshore developments,
including deepwater drilling, and helps restore Mexico's position as a major global oil producer and exporter.
«Statoil is removing the «oil» from their name at the same time they are trying to add risky
Australian deepwater drilling projects to their portfolio and expand into the pristine...
That the CEO of each operator seeking to
perform deepwater drilling certify to BOEM that the operator has complied with all regulations, including the new drilling safety rules.
Certainly, we've seen economic impact in the 2010 decision to
halt deepwater drilling in the Gulf of Mexico and the subsequent slow pace of oil and natural gas permitting.
It would prevent
further deepwater drilling in the Gulf of Mexico until officials determine what went wrong in the April 20 explosion and fire at an oil rig that led to oil gushing into the ocean 5,000 feet below the surface.
Defending Transocean
Offshore Deepwater Drilling Inc. in matters arising from the 2010 oil spill in the Gulf of Mexico, including proceedings in the multidistrict litigation, third - party investigations, and government inquiries and investigations.
Worked alongside NOC and Supermajors as Subject Matter Expert in Intervention services on
complex deepwater drilling and completion programs as both Sales and Engineering Support.
There's also a passage in the story vividly showing how industry pronouncements about the safety
of deepwater drilling — which undoubtedly contributed to President Obama's decision to support expanded oil and gas development off American coasts — were a smokescreen:
A trial may be the only way to answer that question, so we can make better - informed decisions that minimize the likelihood and impact of the next big spill as industry moves steadily forward
with deepwater drilling.
Indeed, the greater threat may come from U.S. policy - makers, some of whom have already declared their opposition to Chinese involvement in
deepwater drilling in the Gulf of Mexico.
For the past two years, OPEC's pump - at - will policies have flooded the market with cheap supply, causing economic pain for producers with higher cash costs, including those involved in fracking, the Canadian oil sands and
deepwater drilling.
It has already announced its intention to exit the expensive and risky business of
deepwater drilling, and sold off three deepwater exploration blocks off the coast of Senegal in late 2016.
I will continue to hold until I see signs of rapid adoption of Enhanced Oil Recovery techniques, a pickup in
deepwater drilling, or the stock hits my target.
BP, the industry and federal regulators understood the potential for an uncontrolled blowout in
Deepwater drilling, but they failed to heed warnings about the structural weaknesses in the cement casings that protect the well pipes.
And on October 21, just days after Washington lifted
the deepwater drilling moratorium, Chevron announced a $ 7.5 billion project to develop two oil fields, Jack and St. Malo, lying 7,000 feet below the waves 280 miles south of New Orleans.
WASHINGTON, D.C. — Secretary of the Interior Ken Salazar today directed the Bureau of Ocean Energy Management, Regulation and Enforcement (BOEM) to issue new suspensions of
deepwater drilling on the Outer Continental Shelf (OCS), saying a pause is needed to ensure that oil and gas companies first implement adequate safety measures to reduce the risks associated with deepwater drilling operations and are prepared for blowouts and oil spills.
«The judges also cited Shell's advancements in
deepwater drilling, shale development and tight - gas extraction, all of which are helping to drive U.S. energy independence.»
Then along came hydraulic fracturing (fracking), tight oil,
deepwater drilling, Trump, Zinke and Pruitt, and the oil and gas are flowing freely and people are piling into pickups.
First,
a deepwater drilling mishap off the coast of Brazil last month caused thousands of barrels of oil to spill into the Atlantic, which only after some dodging did Chevron take responsibility for, followed by Brazil's petroleum agency deciding to suspend the company's drilling rights altogether.
The deepwater drilling moratorium could be lifted soon after the release of an oil spill commission's report next week, officials say.
Oil and gas industry giants gathered this week in Pau, an historic city in southwest France, to discuss the future of
deepwater drilling.