deepwater

Technology has allowed industry to develop in ever deeper water to successfully add to energy supplies, despite the high capital requirements.

Luke Eaton of ConocoPhillips, Darryl Herrington of LLOG Exploration, and John Thorogood, drilling global consultant provide their perspectives on deepwater technologies.

The OTC 2012 Spotlight on Technology awards highlighted subsea separation and boosting and subsea heavy oil and water separation technologies in deep water.

Shell’s Parque das Conchas project, an ultradeepwater heavy-oil development in the northern Campos basin offshore Brazil, has won the IPTC Excellence in Project Integration Award. The award recognizes significant and unique achievements in managing and directing a project from discovery to delivery.

Expenditures for deepwater projects are expected to rise by 90% over the next 5 years. Drilling and completion of subsea wells will dominate deepwater spending. Higher oil prices are supporting the development of deepwater prospects to contribute to world energy supplies.