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Drilling Deep Pays Off in the Gulf
Deep-water gas production reached 560 MMcf/d in 1998 from only381 MMcf/d the year prior, a 47% increase, according to datareleased yesterday by the Mineral Management Service (MMS). Another311.5 MMcf/d of deep-water gas production is expected to come online this year.
Deep-water gas and oil production (in water depths greater than1,000 feet) reached an all-time high last year and continues toincrease rapidly. Over the last five years production of oil hasgrown 279% and production of gas has risen 252%.
This year, Texaco’s Gemini prospect is leading the charge on thegas side with an expected 115 MMcf/d, followed by Shell’s Ursa (76MMcf/d), Mariner’s Dulcimer project (58 MMcf/d) and Chevron’sGenesis (52 MMcf/d). MMS named a total of 11 new deep-waterprojects that are expected to begin production this year.
“The rising amount of production coming from the deep-water hasgreat momentum and will continue to play a key role in our nationalenergy strategy,” said MMS Director Walt Rosenbusch.
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