Into the Deep

The Interior Department’s Minerals Management Service says the oil and gas industry’s growing interest in tapping resources in the Gulf of Mexico’s deepest waters could be a boon to domestic oil and gas production.
In this report released today, the MMS says oil production is expected to surpass 1.7 million barrels a day by 2016 with existing shallow and deepwater operator commitments.
Factor in industry-announced discoveries and undiscovered resources, and production could reach 2.1 million barrels a day if those unknowns reach their full potential, the MMS says.
Current oil production in the Gulf ranges from 1.35 million to 1.4 million barrels a day.
The MMS released the report at the Offshore Technology Conference, where everything deepwater is on display, for sale, and playing show and tell.

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