Frank Hartley,
Drilling & Production Editor
HOUSTON -- There are hundreds of deepwater oil fields worldwide that have been discovered, and many hundreds yet to be discovered that are not commercial using existing conventional deepwater approaches, said Dr. Keith Millheim with MEPS at the 2008 Offshore Technology Conference in Houston. He continued to say a new paradigm based on production materiality is an alternate approach for deepwater marginal oil field exploration and development.
Millheim said using a specially designed self standing riser for first oil could be consistently achieved in one to two years from discovery to first oil with attractive economics if there are new ways to significantly reduce drilling costs, capital investments, and operational costs. However, the reality is the need for risk takers to accept the challenge.
05/07/2008
