Deepwater production climbs in Gulf

Ray Tyson

Deepwater oil production in the Gulf of Mexico in 2003 was an estimated 350 million barrels, increasing slightly from the 349 million barrels produced in 2002, said the U.S. Minerals Management Service, adding that during the same period, deepwater natural gas production grew to an estimated 1.42 trillion cubic feet from 1.33 tcf.

MMS noted that deepwater oil production has risen 386 percent since 1996 and accounts for 62 percent of the total oil production in the Gulf of Mexico. Deepwater gas production is up a dramatic 407 percent since 1996, MMS said.

Water depths greater than 1,000 feet are considered by MMS to be deepwater.

Production from all water depths in the federal portion of the U.S. Gulf during 2003 totaled an estimated 562 million barrels of oil and 4.44 tcf of gas.