OTC: Deepwater Gulf of Mexico still an industry draw

US deepwater drilling in the Gulf of Mexico continues to be an expanding frontier for both majors and independents, the US Minerals Management Service said. That is the case even though recent data suggest that actual drilling has dropped over the past 2 years, the agency told the Offshore Technology Conference May 6 in Houston. BurtonClick here to enlarge image"The oil industry continues to announce significant numerous deepwater discoveries," said MMS Director Johnnie Burton. "When these announcements are included in our analysis, the data show that there is no decline in exploration rewards. In other words, there does not appear to be a scientific reason for the decline in drilling&md...

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