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Released October 17, 2019 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--In its latest Short-Term Energy Outlook, the U.S. Energy Information Administration (EIA) says that oil production in the U.S. Federal Gulf of Mexico was 1.8 million barrels per day (BBL/d) in 2018, and this is expected to rise 1.9 million BBL/d this year and 2 million BBL/d in 2020. This will account for about 15% of U.S. oil production in both years, although this a decline in value as onshore production outpaces offshore development. Industrial Info is tracking nearly $40 billion in active Production projects in the U.S. Gulf of Mexico, including about $4 billion worth that are planned to be completed next year. The EIA says new projects coming online this year are expected to contribute 44,000 BBL/d, followed by 190,000 BBL/d of new and ramped-up production in 2020.
Among the largest projects to be completed this year was Royal Dutch Shell plc's (NYSE:RDS-A) (The Hague, Netherlands) Appomattox grassroot oil and gas production platform. The field, which as at water depths of 7,290 feet, has stated recoverable reserves of 500 million barrels. Construction on the platform began in 2015 and was completed in the first quarter of this year. The semi-submersible platform has a 50,000-ton hull and was manufactured in South Korea by Samsung (Seoul). The platform is expected to ramp up to production of 100,000 BBL/d over time. For information, see Industrial Info's project report.
Among the Gulf of Mexico offshore projects that are expected to come online next year is BP plc's (NYSE:BP) (London, England) Atlantis Phase III subsea infrastructure installation, which is accompanied by a continued drilling program. TechnipFMC plc (NYSE:FTI) (London) will manufacture, deliver and install the subsea equipment beginning next year. TechnipFMC also will complete a pipeline tying into the production facility. The water depth at the site is 6,800 feet. BP will early next year begin further drilling in the Atlantis field by drilling eight wells to boost production by 38,000 BBL/d. The projects have a combined total investment value (TIV) of $1.3 billion. For more information, see Industrial Info's project reports on the subsea infrastructure, pipeline and drilling program.
BP will complete subsea infrastructure of its Mad Dog 2 development in the Gulf, which will include 53 miles of umbilicals, 23 miles of flowlines and other subsea architecture. OneSubsea (Houston, Texas) is providing engineering, procurement and construction on the project, which has an estimated TIV of $1.5 billion and is expected to wrap in fourth-quarter 2020. For more information, see Industrial Info's project report.
Also set to begin production next year is Talos Energy Incorporated's (NYSE:TALO) (Houston) Bulleit field, which was discovered in 1985 and is at water depths of 1,200 feet. Installation of the subsea equipment is expected to kick off next year and be completed in the summer. A 10-mile, 16-inch-diameter pipeline will be constructed from the wellhead to an existing offshore platform. In addition, further drilling will occur, which will include drilling one new well and converting an existing exploration well to production. For more information, see Industrial Info's project reports on the subsea installation, pipeline and production drilling.
Next summer, W&T Offshore Incorporated (Houston) plans to complete offshore field development and subsea infrastructure installation at the Gladden Deep field. The field is estimated to contain 7 million barrels of oil equivalent of potential resources and is at water depths of 3,300 feet. The project is set to kick off soon and has an estimated TIV of $95 million. For more information, see Industrial Info's project report.
In addition to infrastructure, exploration and drilling projects also continue in the Gulf. LLOC Exploration Company LLC (Covington, Louisiana) will drill two wells at the Keathley Canyon oil and gas field before starting production next year. The project is expected to take a little over 140 days to complete and will wrap up in the second quarter of next year. For more information, see Industrial Info's project report. Fieldwood Energy LLC (Lafayette, Louisiana) will early next year begin developing the Orlov field. A pilot well is currently being drilled, and Fieldwood will convert this to production. The field will be tied back to the existing Bullwinkle platform via a proposed subsea pipeline. For more information, see Industrial Info's project reports on the field development and pipeline.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
Among the largest projects to be completed this year was Royal Dutch Shell plc's (NYSE:RDS-A) (The Hague, Netherlands) Appomattox grassroot oil and gas production platform. The field, which as at water depths of 7,290 feet, has stated recoverable reserves of 500 million barrels. Construction on the platform began in 2015 and was completed in the first quarter of this year. The semi-submersible platform has a 50,000-ton hull and was manufactured in South Korea by Samsung (Seoul). The platform is expected to ramp up to production of 100,000 BBL/d over time. For information, see Industrial Info's project report.
Among the Gulf of Mexico offshore projects that are expected to come online next year is BP plc's (NYSE:BP) (London, England) Atlantis Phase III subsea infrastructure installation, which is accompanied by a continued drilling program. TechnipFMC plc (NYSE:FTI) (London) will manufacture, deliver and install the subsea equipment beginning next year. TechnipFMC also will complete a pipeline tying into the production facility. The water depth at the site is 6,800 feet. BP will early next year begin further drilling in the Atlantis field by drilling eight wells to boost production by 38,000 BBL/d. The projects have a combined total investment value (TIV) of $1.3 billion. For more information, see Industrial Info's project reports on the subsea infrastructure, pipeline and drilling program.
BP will complete subsea infrastructure of its Mad Dog 2 development in the Gulf, which will include 53 miles of umbilicals, 23 miles of flowlines and other subsea architecture. OneSubsea (Houston, Texas) is providing engineering, procurement and construction on the project, which has an estimated TIV of $1.5 billion and is expected to wrap in fourth-quarter 2020. For more information, see Industrial Info's project report.
Also set to begin production next year is Talos Energy Incorporated's (NYSE:TALO) (Houston) Bulleit field, which was discovered in 1985 and is at water depths of 1,200 feet. Installation of the subsea equipment is expected to kick off next year and be completed in the summer. A 10-mile, 16-inch-diameter pipeline will be constructed from the wellhead to an existing offshore platform. In addition, further drilling will occur, which will include drilling one new well and converting an existing exploration well to production. For more information, see Industrial Info's project reports on the subsea installation, pipeline and production drilling.
Next summer, W&T Offshore Incorporated (Houston) plans to complete offshore field development and subsea infrastructure installation at the Gladden Deep field. The field is estimated to contain 7 million barrels of oil equivalent of potential resources and is at water depths of 3,300 feet. The project is set to kick off soon and has an estimated TIV of $95 million. For more information, see Industrial Info's project report.
In addition to infrastructure, exploration and drilling projects also continue in the Gulf. LLOC Exploration Company LLC (Covington, Louisiana) will drill two wells at the Keathley Canyon oil and gas field before starting production next year. The project is expected to take a little over 140 days to complete and will wrap up in the second quarter of next year. For more information, see Industrial Info's project report. Fieldwood Energy LLC (Lafayette, Louisiana) will early next year begin developing the Orlov field. A pilot well is currently being drilled, and Fieldwood will convert this to production. The field will be tied back to the existing Bullwinkle platform via a proposed subsea pipeline. For more information, see Industrial Info's project reports on the field development and pipeline.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
