Searching for oil and gas reserves miles beneath the seabed in a safe and responsible way has always been one of the most exciting parts of the petroleum business. State of the art technology and the ingenuity of scientists are putting deepwater exploration back in the spotlight for this year’s Offshore Technology Conference.
The slowdown in the deepwater business, triggered by the 2014 downturn in oil prices, was prolonged by industry trends in rising costs from extensive equipment customization. But suddenly, deepwater has sprung to life with multiple discovery announcements. The news may have surprised many as it seemed the oil and gas industry’s focus had lasered in on the prodigious Permian Basin in West Texas.
Source: FuelFix
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