The Bureau of Ocean Energy Management (BOEM) and Bureau of Safety and Environmental Enforcement (BSEE) has announced the advancement of new research into policy changes regarding increased oil and gas production from deepwater infrastructure already in place in the Gulf of Mexico, according to a press release.
Scott Angelle, BSSE Director, said, “President Trump recognizes smart policy requires us to look for adjustments that need to be made today to facilitate US offshore competitiveness, or we will experience problems tomorrow. This research will help ensure our Nation continues to achieve top oil and gas production by reducing stranded assets.”
The study will examine specific economic parameters used by BOEM and BSEE for new and high-cost technologies such as extended-reach subsea tiebacks. This will help to minimize left behind hydrocarbon resources.
This research would apply to developments that might connect to deepwater facilities that have additional production capacity. According to research, four out of five deepwater facilities are producing less than 50% of their daily oil production capacity.
Deepwater production accounts for 92% of the total Gulf of Mexico offshore oil production, and 14% of all domestic oil produced in the US.