Economy 52,861 Posted February 9, 2016 Share Posted February 9, 2016 http://www.theweek.co.uk/oil-price/60838/oil-price-has-make-or-break-meeting-ended-hopes-of-supply-deal 150 Platforms are expected to be decomissioned in next 10 years in The North Sea alone without replacement projects Other Deep Sea Drilling such as Drilling in Brazil is suffering and low oil prices leave almost every oil producer putside OPEC at a loss Deep Sea Drilling is extremely expensive, perhaps the only form of Production whose costs can rival Canadas Oil Sands Link to post Share on other sites More sharing options...
TiphEret 1,320 Posted February 11, 2016 Share Posted February 11, 2016 So such practice aren't economically viable right now because oil price is so low? Sur le sable sur la neige, Sur les images dorées,Sur le front de mes amis, J’écris ton nom Link to post Share on other sites More sharing options...
Economy 52,861 Posted February 11, 2016 Author Share Posted February 11, 2016 17 hours ago, TiphEret said: So such practice aren't economically viable right now because oil price is so low? Exactly so no new projects are being started. And existing projects could be decomossioned earlier cause of low prices Oil fields gradually drop returns the older they get and so it becomes more costly to keep up production the older a field gets. How long its economically worth to keep pumping the same field depends on oil prices If an aging fields productivity falls so low that It costs $40/barrel jist to operate it, its not worth continuing to drill and so the rest of the reserve in the field is ditched and the field is decomissioned Link to post Share on other sites More sharing options...
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