More background reading on the push to take wells deeper into the seas and at the same time deeper into the earth--with profitability assured by US government subsidy and 'sequestration' of much cheaper oil in Iraq (if Iraq produced on the level of Saudi Arabia and Russia, and most think its fields could exceed this, there would be a glut of oil on the market).
http://www.offshore-mag.com/index/article-display/7488119241/articles/offshore/drilling-completion/us-gulf-of-mexico/2009/08/bp-drills__giant_.html BP drills oil discovery in the Gulf of Mexico Published: Sep 2, 2009 Offshore staff HOUSTON -- BP says it has drilled a “giant” oil discovery on the Tiber prospect in Keathley Canyon block 102 in the deepwater Gulf of Mexico Transocean’s using semisub Deepwater Horizon. The well, in 4,132 ft (1,259 m) of water, struck oil in multiple lower tertiary reservoirs, BP reports. It was drilled to a total depth of approximately 35,055 ft (10,685 m), making it the deepest well ever drilled by the oil and gas industry, the company says. BP says it is too early to estimate the discovery’s resource potential, but the company believes it is in the same class as its other major discoveries in the GoM, including Kaskida, which is estimated to have 3 Bboe in place. “Tiber represents BP's second material discovery in the emerging Lower Tertiary play in the Gulf of Mexico, following our earlier Kaskida discovery in Keathley Canyon block 102,” says Andy Inglis, BP’s chief executive of exploration and production. “These material discoveries together with our industry leading acreage position support the continuing growth of our deepwater Gulf of Mexico business into the second half of the next decade.” BP plans drill an appraisal well on Tiber to determine the size and commerciality of the discovery. BP operates Tiber with a 62% working interest. Co-owners are Petrobras (20%) and ConocoPhillips (18%). 09/02/2009 http://www.offshore-mag.com/index/article-display/4721530076/articles/offshore/vessels/us-gulf-of-mexico/2009/09/bp-extends_semisub.html BP extends semisub Deepwater Horizon contract Published: Sep 29, 2009 Offshore staff ZUG, Switzerland -- A subsidiary of BP has awarded Transocean a three-year contract extension for the semisubmersible Deepwater Horizon. The extension, which covers operations in the Gulf of Mexico, begins in September 2010. Capable of operating in water depths up to 10,000 ft (3,048 m), the Deepwater Horizon entered service in 2001 and recently set the world record for the deepest oil and gas well at 35,050 ft (10,683 m) total vertical depth, drilled for BP. 09/29/2009 http://www.offshore-mag.com/index/article-display/9853137298/articles/offshore/volume-69/issue-10/departments/gulf-of_mexico/gulf-of_mexico.html BP makes ‘giant’ oil discovery BP’s Tiber is its second discovery in the Lower Tertiary. Its first, Kaskida on Keathley Canyon block 292, is approximately 50 mi (80 km) east-southeast of Tiber. BP says it has drilled a “giant” oil discovery on the Tiber prospect in Keathley Canyon block 102 in the deepwater Gulf of Mexico. The well, in 4,132 ft (1,259 m) of water, struck oil in multiple lower tertiary reservoirs. It was drilled to 35,055 ft (10,685 m) TMD, making it the deepest well drilled ever by the oil and gas industry, according to BP. Transocean’s semisubmersible Deepwater Horizon drilled the well. BP says it is too early to estimate the discovery’s ultimate resource potential, but the company believes it is in the same class as its other major discoveries in the GoM, including Kaskida, which is estimated to hold 3 Bboe in place, with a projected recovery factor of 10% to 20%. Kaskida, discovered in 2006, was BP’s first major discovery in the Lower Tertiary. The field is currently under appraisal, with first production expected in 2014 at the earliest. BP plans drill an appraisal well on Tiber to determine the size and commerciality of the field. BP operates Tiber with a 62% working interest. Co-owners are Petrobras (20%) and ConocoPhillips (18%). _______________________________________________ Marxism-Thaxis mailing list Marxism-Thaxis@lists.econ.utah.edu To change your options or unsubscribe go to: http://lists.econ.utah.edu/mailman/listinfo/marxism-thaxis
