MMS sees deepwater gulf as an expanding frontier

The future of deepwater Gulf of Mexico exploration and production remains very promising, concludes a report by the US Minerals Management Service.The deep water is an expanding frontier as evidenced by the large number of active deepwater leases, drilling of important new discoveries, the growing deepwater infrastructure, and increasing production, the report said.Deepwater drilling added more than 4.5 billion boe of reserves since the start of 2000, a 40% increase in reserves compared with 1974-99 discoveries, said the report by G. Ed Richardson and eight other MMS authors. This article extracts key findings of that report, available on the MMS web site.The 750 deepwater gulf exploratio...

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