Depwater drilling, or Deep well drilling, is the process of oil and gas exploration. There are approximately 3400 deepwater wells in the Gulf of Mexico with depths greater than 150 meters. The sheer size and depth of these rigs are cause for concern if one were to break. This presents significant difficulties for well repair.
It has not been technologically and economically feasible for many years, but with rising oil prices, more companies are investing in this area. Major companies working in this sector include Halliburton, Diamond Offshore, TransOcean, Geoservices, and Schlumberger. The deepwater gas and oil market is back on the rise after the disaster of 2010, and total expenditure of around $35 billion per year and a total global Capex of $167 billion in the past four years.
- “Not all oil is accessible on land or in shallow water. You can find some oil deposits buried deep under the ocean floor.” ...Using sonic equipment, oil companies determine the drilling sites most likely to produce oil. Then they use a mobile offshore drilling unit (MODU) to dig the initial well. Some units are converted into production rigs, meaning they switch from drilling for oil to capturing oil once it's found. Most of the time, the oil company will replace the MODU with a more permanent oil production rig to capture oil.” ...The MODU's job is to drill down into the ocean's floor to find oil deposits. The part of the drill that extends below the deck and through the water is called the riser. The riser allows for drilling fluids to move between the floor and the rig. Engineers lower a drill string – a series of pipes designed to drill down to the oil deposit – through the riser.”
- “The expansion of deepwater drilling is happening despite accidents in offshore fields...”