Offshore Technology Hearing Before the Subcommittee On Oceanography Gulf of M
Offshore Technology Hearing Before the Subcommittee On Oceanography Gulf of M
Gulf of Mexico United States Congress House Committee On Merch
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The typical well drilled in the subsalt play costs between $12 and $15 million, two to three times that of a typical nonsubsalt well. Supercomputers and three dimensional seismic data require large investment not found in drilling conventional wells. The success of Phillips' Mahogany has had a significant impact on the rest of the industry. The latest lease sale was the most ac- tive sale in years. The demands for drilling rigs is also increased, bringing new jobs back to the Gulf Coast oil pat...ch. A key additional attraction of the subsalt potential is in its mini- mal future environmental impact. The current area of subsalt in- terest lies in the area well known to the industry and to govern- ment agencies with jurisdiction on the OCS. The region has been the subject of intensive studies and lies in close proximity to an ex- isting infrastructure allowing for easy transportation via pipelines and therefore minimal environmental impact. There are many challenges yet to be met in subsalt exploration.
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