Port Fourchon positions for future GoM E&P
David Paganie
Two 700-ft wide slips have been completed so far; one 2,200-ft long and the other 7,000-ft long. Two additional slips are currently on the drawing board as is an extensive recreational and residential development in the far northeast corner of the area.
“If deepwater and the ultra-deepwater areas in the Gulf continue to grow, then we anticipate that phase 1 will be complete in around seven years,” says Falgout.
The port indicates that its newly constructed rig refurbishment facilities can save drilling rig companies hundreds of thousands of dollars every year by decreasing tow time and turnaround time for rig repair.
The average rig saves 18 hours of towing time when traveling to Port Fourchon as opposed to other rig refurbishment sites.
In addition, in January 2004, Lafourche Parish voters repealed the ad valorem tax on drilling rigs located in Louisiana for repair and refurbishment, thereby enhancing the port’s ability to accommodate this business.
The port currently services over half of the drilling rigs operating in the Gulf. According to Falgout, the port’s market share for rig service grew to this level from around 10-12% prior to 1995. The port adds that they expect their market share for service in this area to remain steady for the foreseeable future. It is projected that the facility will service 60% of all drilling in the central Gulf over the next 30 years.
According to the port, its most ambitious expansion plans are reserved for Fourchon Island, located at the entrance to Belle Pass. Plans include dredging a 50-ft channel, which will extend 6.5 mi out into open waters, to further accommodate rig repair and refurbishment. This work is estimated to cost $100 million.
“If there is any place on the coast of Louisiana that can accommodate a 50-ft draft with very little environmental impact, it would be here (Fourchon Island),” explains Falgout.
Other expansion plans for the island include construction of containerized shipping facilities to facilitate trading opportunities with Latin America.
To provide continued support for the port’s expansion plans and offshore E&P, the Port Commission opted to acquire the South Lafourche Leonard Miller Jr. Airport and surrounding 1,200 acres, located approximately 23 mi north of Fourchon.
The port says its ultimate intent for the acquisition is to “create an aeronautical hub to support GoM oil and gas activities and just-in-time cargo from foreign origins.”
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Page 4 of 7
Volume 66 Issue 3
March 2006
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