Two new studies by Quest Offshore Inc. for the National Ocean Industries Association (NOIA) and the American Petroleum Institute (API) show vast potential energy and economic benefits to the U.S. if the Eastern Gulf of Mexico and the Pacific outer continental shelf (OCS) were opened to offshore oil and natural gas development. Last year a similar study was conducted for the Atlantic OCS. All three areas – the Eastern Gulf of Mexico, the Pacific OCS and the Atlantic OCS – are currently almost entirely off-limits to offshore oil and gas development but could be included in the federal government’s next five-year leasing program. If the federal government begins holding lease sales in these regions in 2018, the three studies show that by 2035:
• Pacific OCS development could create more than 330,000 jobs, spur nearly $140 billion in private sector spending, generate $81 billion in revenue to the government, contribute over $28 billion per year to the U.S. economy, and add more than 1.2 million barrels of oil equivalent per day in domestic energy production.
• Eastern Gulf of Mexico development could create nearly 230,000 jobs, spur $114.5 billion in private sector spending, generate $69.7 billion in revenue for the government, contribute over $18 billion per year to the U.S. economy, and add nearly 1 million barrels of oil equivalent per day to domestic energy production.
• Atlantic OCS development could create nearly 280,000 jobs, spur $195 billion in private sector spending, generate $51 billion in revenue for the government, contribute up to $24 billion per year to the U.S. economy, and add 1.3 million barrels of oil equivalent per day to domestic energy production.
• Development in all three study areas – the Eastern Gulf of Mexico, the Pacific OCS, and the Atlantic OCS – could, by 2035, create more than 838,000 jobs annually, spur nearly $449 billion in new private sector spending, generate more than $200 billion in new revenue for the government, contribute more than $70 billion per year to the U.S. economy, and add more than 3.5 million barrels of oil equivalent per day to domestic energy production.
(As published in the November/December 2014 edition of Marine Technology Reporter - http://www.marinetechnologynews.com/Magazine)
energy sector was universally negative in the waning months of 2014 as the price per barrel continued to plummet below $60, the inevitable truth of oil & gas is that prices will rise again, and the long-term picture for this extinguishable natural resource is decidedly bullish. The oil and gas industry is
percent of Macshelf, which is headquartered in London. The function of the joint venture is to perform engineering feasibility studies for oil and gas developments, to promote the export of steel components from Shelfproekstroi's modern fabrication yards on the Caspian Sea and to market Shelfproekstroi's desi
a total of approximately $15 million (11 million pounds sterling) with Conoco (U.K.) Limited, to install offshore facilities for the Southern Basin Gas Development in the British sector of the North Sea in 1987 and 1988. The contracts call for 1987 installation of the production, accommodations
A / S (Danbor) of Denmark for the installation of in-field pipelines in the Danish sector of the North Sea f o r the Danish Undergrounds Consortium's gas development project. Commencing in May 1982 the contract covers the laying and trenching of approximately 50 km of pipelines varying between 6-inch
Eastern Gas and Fuel Associates and Houston Natural Gas Corporation announced recently that Eastern's wholly owned marine subsidiary, Midland Affiliated Company, has agreed in principle to acquire Federal Barge Lines Inc., a wholly owned subsidiary of Houston Natural. A formal agreement is expected
by the University of New Orleans on the "Economic Future of the Gulf South." Noting the Louisiana Gulf was the birthplace of offshore oil and gas development more than 30 years ago, Mr. Howson said: "Normally, when an area has been developed for 30 years you would expect the oil and gas to
Paul L. Kelly, vice president- industry & government relations, for the Rowan Companies, Inc. Pro-Leasing is an advocacy program to promote oil and gas development on America's Outer Continental Shelf (OCS). It seeks to enhance public understanding of the reasons to lease the OCS and unlock its
property, and encompassing the lessening of risk and the avoidance of accidents. In its work, the Committee did not attempt to place OCS oil and gas development in perspective with other resource development activities. With regard to assessing the adequacy of regulations, the Committee directed
and is positioned to prosper. On the flip side, the abundance of cheap oil and gas found onshore is starting to have an impact on offshore oil and gas developments, as the oil majors are digesting rapidly rising production and crewing costs and slashing E&P expenditure. Jim McCaul, our long-time editorial
,200 managers, engineers and technicians participated. The attendance this year is expected to surpass that figure. The Conference program shows that Gastech '81, to be held in the Congress Centrum Hamburg, will be the most important meeting in the series with more than 50 separate presentations under sev
, Browse and Canarvon Basins off the west coast, as well as in the Otway, Bass and Gippsland Basins off the southern coast. Large shallow water gas developments will continue to dominate subsea activities off the west coast of Australia until 2016. There are no visible projects in 2017 but major projects
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? rst prize at Ariake Shipyard of Japan Marine United Corporation for a new the International Competition of Scienti? c, Technical and VLGC (very large gas carrier) that NYK will charter under a long- Innovative Developments aimed at the Exploration and term contract to Astomos Energy Corporation, pre-eminent
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is the bene? t to the en- maritime sector’s output of As a result, it is estimated that by 1 Jan- dium term. This may be true. vironment. Agreenhouse gases by 50% uary 2020, 4,000 vessels will have ? tted But the supply of HSFO is not likely Shipowners and operators could learn over the next 30 years
oil and the broader greenhouse of a ship owner, but also drive progress in touch with someone at the BMA.” Out of renewing its ? eet of 30 tankers and gas strategy. As it becomes clearer as within the industry and ultimately, chart of these conversations, new possibilities is relying on assistance and
VOICES BORIANA FARRAR, VP, SENIOR CLAIMS EXECUTIVE & COUNSEL, AMERICAN P&I CLUB Boriana enjoys giving back to the community which has sup- ported her throughout her ca- reer, pictured here with Martin Davies, the head of the Admiralty Law Center at her alma mater Tulane Law School, where she recently
OFFSHORE WIND THE INSTALLATION FLEET key dimensions when installing larger to retro? t a crane, and it really is a head- Some are investing. ? rm. “They can lift all the components turbines; longer blades and heavier na- ache for wind turbine installation vessels Just four years into entering the off-
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in key strategic areas, such as oil The Coast Guard’s icebreaking ? eet capable ? eet but currently does not have Vice Commandant Adm. Robert Ray, and gas development, ports, railways, is in a precarious predicament. To say the capability or capacity to assure ac- speaking at the American Society of
military, as well as interest icebreaker. communications, and comprehensive eight countries that have territorial land in extracting minerals, oil and gas. Sea- “As the region continues to open and Maritime Domain Awareness. In order to or seas above the Arctic Circle or in the food is a multi-billion-dolla
WORKBOATS SOUTHERN TOWING COMPANY Are the Z-drives as robust as conven- off the exterior edges of the propeller. you have more of an effect on slowing awesome, it is just a phenomenal orga- tional? No. But life is a compromise and You can have a cort nozzle that solves down the vessel at 90 degrees than
WORKBOATS SOUTHERN TOWING COMPANY Photos: ZF/Martin Meissner Career development. Opportunity and investing in the Statistics.” In short it says is you can make statistics say boats at the 11:30 watch change so that we can have as people. And we have gone way out of our way to put whatever you want.
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to the price barrel) follow a similar sustained a missile attack of Mexico, stressed the new openings of oil. Seacor Marine’s John pattern. Natural gas prices also remain in the Red Sea a month later. At the same for independent oil companies (IOCs) in T Gellert, in reviewing its Q2 near their long-term
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MARITIME Authors & Contributors REPORTER AND ENGINEERING NEWS M A R I N E L I N K . C O M ISSN-0025-3448 USPS-016-750 No. 11 Vol. 81 Ewing DiRenzo Bryant Bondareff Goldberg Maritime Reporter/Engineering News (ISSN # 0025-3448) is published monthly (twelve issues) by Maritime Activity Reports, Inc.