What the FPSO?! BOEMRE Approves GoM’s First Floating Production & Storage Vessel
A March 17 press release from BOEMRE announced the approval of Petrobras’s permit application for the Gulf of Mexico’s first FPSO (“Floating Production Storage Offloading” facility), offshore Louisiana.
I have no problem with FPSOs per se. The technology has been used around the world, in places like Brazil, Angola, the North Sea and off Australia. But this would be the first FPSO in U.S. | Read More »
BP Announces Giant Oil Discovery in Deepwater Gulf of Mexico
On Tuesday, British Petroleum (a/k/a BP, or “Beyond Petroleum”) announced a large oil discovery at its Tiber Prospect in the Lower Tertiary trend, deepwater Gulf of Mexico. The new field could rank as BP’s top property in the Gulf. To put the engineering achievement in perspective, imagine what it takes to make a hole in the ground that is deeper than the height of Mount | Read More »
Obama Administration Bankrolls Brazilian Oil Company to the Tune of $10 Billion
Petrobras, the Brazilian oil giant, has discovered world-class oil fields, estimated to contain in aggregate some 80 billion barrels of oil, in the deepwater offshore Brazil. Developing the reserve will be expensive, as the deposits are located beneath 2,000m (6,600 ft) of water and 5,000m (16,400 ft) of sediment, including a thick layer of salt. The company plans to spend $29 billion through 2013 to | Read More »