Page 35: of Marine News Magazine (July 2011)

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www.marinelink.com BIGFINDSOFF LOUISIANA'SCOAST Don Briggs, president of the Louisiana Oil and Gas Association, pointed to the size of ExxonMobil's finds, saying that its recent oil and gas discovery could hold recoverable reserves of over 700 million barrels of oil, making it the largest since theenactment of the drilling moratori-um last year and the biggest deepwa- ter discovery in the past decade.? He said development of new Gulf finds and ongoing exploration shouldbe positive for all businesses tied to the offshore industry, including sup- port-vessel companies, vessel builders, helicopter transportation and even food catering in the region.? ExxonMobil announced its discov- eries on June 8 after the Bureau of Ocean Energy Management, Regulation and Enforcement or BOEMRE approved an application in March that let the company resume exploratory drilling. Its mas- sive find is 250 miles southwest of New Orleans in Keathley Canyon in about 7,000 feet of water. Drilling at the site had been halted in the wakeof BP's spill last year. Exxon operates the well in a joint venture with Eni and Petrobras. In late May, Houston-based Noble Energy, Inc. announced an oil discov- ery at a deepwater well 70 miles southeast of Venice, La. Noble's find was the result of a drill project that was the first to receive a permit after the federal moratorium was lifted lastfall. Noble found oil deposits 60 feet thick when it drilled to a depth of18,920 feet, from a well located in 6,500 feet of water. PORT FOURCHONONTHEREBOUND At Port Fourchon in south Louisiana, executive director Chett Chiasson, said activity has picked upas a result of BOEMRE issuing per- mits this spring. That, along with new deepwater oil finds, will mean longevity for the port, he predicted. Of the 16 deepwater drilling per- mits approved since the moratorium ended, we will service 14 of them,? Chiasson said. The new ExxonMobil finds will be serviced out of our facility, and we're very pleased to have that business.? He continued, saying because of those finds, more companies and people will come on line at the port.? And, he said we're now operating at 90% again ? a level last seen before the moratorium was imposed.? These discoveries showthat if they let us drill,we can do it safely andfind oil and gas.Boysie Bollinger, chairman and CEO,Bollinger Shipyards, Inc.