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Subsea tieback of a new field to an existing offshore production facility is one option to minimize development costs. -
The oil- and gas-production industry has experienced dramatic price swings over the past year. Crude-oil (spot) prices have varied from more than USD 120/bbl to less than USD 40/bbl since the third quarter of 2014.
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Shallow-water offshore production began before 1900 and continues to be important. Technology to maximize economic production from shallow-water fields can be adapted from onshore or deepwater technologies.
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Offshore oil and gas fields exist along the continental shelf of every continent—even Antarctica.
