Priest T (University of Houston, Houston, TX). 2022. History of the Gulf of Mexico offshore oil and gas industry during the deepwater era. Volume 2: Shell Oil’s deepwater mission to Mars. New Orleans (LA): US Department of the Interior, Bureau of Ocean Energy Management. 98 p. Contract No.: M08AX12677. Report No.: OCS Study BOEM 2022-077.
Offshore oil is the subject of one of the most important energy stories of the last 75 years, and the move into deepwater (usually defined as 1,300 feet or 400 meters) is its crowning achievement. From negligible production after World War II, offshore oil has grown to account for 30 percent of total global conventional oil production. Deepwater makes up only seven percent of the total, but this percentage is growing (U.S. Energy Information Administration, 2016). By 2006, the industry had discovered 60 billion barrels (bbl) of oil in deepwater, production from which is still coming online (Williams, 2006). During 2007–2012, 50 percent of the 170 billion bbl of global conventional oil (and natural gas equivalent) discovered by the industry was in deepwater. Many of those discoveries are yet to be developed (Nelson et al., 2013). From 6 million barrels of oil per day (b/d) in 2017, oil analysts project deepwater output to grow as high as 14 million b/d by 2030 (Seeking Alpha, 2017). The International Energy Agency (IEA) estimates that nearly half of the 2.7 trillion bbl of remaining recoverable reserves are offshore, 25 percent of which—or 340 billion bbl—will be found in deepwater (IEA, 2013). Rather than merely stemming production declines, deepwater oil has provided a substantial addition to global supply, an increase that few other sources in recent years have matched (Miller, 2014).
Document Citations
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Chicago
Bureau of Ocean Energy Management, Interior Department. "History of Gulf of Mexico Offshore Oil and Gas Industry During the Deepwater Era. Volume 2: Shell Oil's Deepwater Mission to Mars". Government. Bureau of Ocean Energy Management, January 1, 2022. https://www.govinfo.gov/app/details/GOVPUB-I-b9afdd4582c09cfb83e5516824113d48
APA
Bureau of Ocean Energy Management, Interior Department. (2022, January 1). History of Gulf of Mexico Offshore Oil and Gas Industry During the Deepwater Era. Volume 2: Shell Oil's Deepwater Mission to Mars. [Government]. Bureau of Ocean Energy Management. https://www.govinfo.gov/app/details/GOVPUB-I-b9afdd4582c09cfb83e5516824113d48
MLA
Bureau of Ocean Energy Management, Interior Department. History of Gulf of Mexico Offshore Oil and Gas Industry During the Deepwater Era. Volume 2: Shell Oil's Deepwater Mission to Mars. Bureau of Ocean Energy Management, (1 Jan 2022), https://www.govinfo.gov/app/details/GOVPUB-I-b9afdd4582c09cfb83e5516824113d48
Bluebook
Bureau of Ocean Energy Management, Interior Department, History of Gulf of Mexico Offshore Oil and Gas Industry During the Deepwater Era. Volume 2: Shell Oil's Deepwater Mission to Mars, GovInfo, (January 1, 2022), https://www.govinfo.gov/app/details/GOVPUB-I-b9afdd4582c09cfb83e5516824113d48
