PLACID HALTS ULTRADEEPWATER PROJECT IN GULF

Rick Hagar Gulf Coast News Editor Placid Oil Co. and partners have shut down their pioneering Green Canyon Block 29 floating/subsea drilling and production system in the Gulf of Mexico. Operations to plug and abandon the ultradeepwater site have begun in the wake of the Apr. 16 shutdown. The project's export pipeline bundle, Ship Shoal Block 207 processing platform, and Green Canyon 29 subsea drilling/production template will be mothballed in place.

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