The oil and gas industry in the Gulf of Mexico has the greatest weather exposure in the world and is vulnerable to a range of losses that include physical damage and destruction, business interruption, and pollution liability. A number of offshore facilities, drilling rigs, and pipelines were destroyed and extensively damaged in the 2004 and 2005 hurricane seasons. The destruction from hurricanes Ivan, Katrina, and Rita was severe with 122 structures destroyed and 76 severely damaged. The physical impact of the hurricanes to the offshore infrastructure has been widely reported in the trade press, but the financial impacts of decomissioning and the potential value of the lost production have not been examined. The purpose of this four-part series is to examine the destroyed infrastructure form the 2004 and 2005 hurricane seasons and the likely contribution this collection of assets would have made to future production in the gulf. In Part 1, the weather risk is described that operators encounter and the factors are reviewed that are involved in redevelopment decisions. The impact of the 2004 and 2005 hurricane seasons on the infrastructure and production statistics in the gulf are summarized.
Modeling Gulf of Mexico lost production - 1. Field redevelopment economics and storm impact assessment
Oil and Gas Journal ; 106 , 25 ; 42-50
2008
8 Seiten, 5 Bilder, 7 Tabellen, 7 Quellen
Aufsatz (Zeitschrift)
Englisch
Online Contents | 2010
British Library Conference Proceedings | 2020
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