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Record W2802061543 · doi:10.2118/0518-0013-jpt

Comments: Offshore Makes a Comeback

2018· article· en· W2802061543 on OpenAlexaboutno aff
John Donnelly

Bibliographic record

VenueJournal of Petroleum Technology · 2018
Typearticle
Languageen
FieldEngineering
TopicMarine and Offshore Engineering Studies
Canadian institutionsnot available
Fundersnot available
KeywordsSubmarine pipelineQuarter (Canadian coin)Production (economics)OceanographyBusinessGeographyGeologyEconomics

Abstract

fetched live from OpenAlex

Editor's column All eyes in the upstream continue to be on the growth in unconventional production, particularly in the US. But the offshore arena may be making a quiet comeback, at least in the near term. The US Gulf of Mexico, North Sea, Latin America, and other spots have seen renewed interest of late, as operators enforce capital discipline to make these expensive projects feasible given the current price climate. Many offshore megaprojects were cut or scaled back when oil prices began to drop sharply in 2014 and, while global offshore output has been steady, it has not grabbed the head-lines that surging shale production has. World offshore output has remained about 27 million B/D over the past decade. US Gulf of Mexico production, which is rising, made up a quarter of US output in the early 2000s but captures only 16% of the total now with the rise in unconventionals. US Gulf of Mexico production in 2017 rose to 1.65 million B/D, the highest annual level on record, according to the US Energy Information Administration (EIA). It is expected to increase this year and in 2019, maintaining record highs. Output will creep to 1.7 million B/D in 2018 and then to 1.8 million B/D in 2018, according to the EIA. This is due mainly to projects that were sanctioned before the price downturn and went forward in 2016 and 2017. The EIA says that seven deepwater fields will start production this year and another three will start up the following year. Shell will begin production from three fields over the period—Gotcha, Rydberg, and Kaikias. Hess and LLOG both will start up two fields, and Stone Energy and Apache will bring one field each online. An offshore auction by the US government in March, the largest for drilling prospects off the US Gulf Coast in history, attracted only modest interest from operators, proving that they are still wary of market conditions. The bidding was for 77 million acres of deep- and shallow-water tracts. Interest offshore Mexico and Brazil remains high. Brazil’s offshore auction in late March brought winning bids from ExxonMobil, Wintershall, Chevron, Shell, BP, Statoil, and Qatar Petroleum. Several operators said their break-even price for offshore projects is now under $50/bbl, well below where prices were trading in mid-April. The success of Brazil’s auction was not only because of rising oil prices and better capital discipline among operators, but also changes in Brazil regulatory laws that made the projects more attractive. That followed a deepwater auction in Mexico earlier this year that saw aggressive winning bids from Shell, which snatched up nine blocks, as well as Petronas and Qatar Petroleum. But offshore production will not catch US onshore output, which continues to outpace expectations despite fears of infrastructure bottlenecks and people shortages. Total US production will reach 11 million B/D this year, a whole year earlier than projected in March, the EIA said in April. Output is averaging 10.2 million B/D so far this year. The EIA expects US production to reach 11.18 million B/D next year.

Fetched live from OpenAlex and de-inverted. Abstracts are not stored in this database: the inverted indexes are 8.6 GB of the frame’s 9.3 GB of text, and the host has 13 GB free.

How this classification was reachedexpand

Full frame distilled prediction

Teacher imitation

Not calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.

metaresearch head score (Codex)0.000
metaresearch head score (Gemma)0.000
Version: codex-gemma-dda1882f352aValidation status: machine_predicted_unvalidated
Candidate categoriesnone
Consensus categoriesnone
DomainCandidate signal: none · Consensus signal: none
Study designCandidate signal: Not applicable · Consensus signal: Not applicable
GenreCandidate signal: Empirical · Consensus signal: Empirical
Teacher disagreement score0.327
Threshold uncertainty score0.522

Codex and Gemma teacher scores by category

CategoryCodexGemma
Metaresearch0.0000.000
Meta-epidemiology (narrow)0.0000.000
Meta-epidemiology (broad)0.0000.000
Bibliometrics0.0010.000
Science and technology studies0.0000.000
Scholarly communication0.0000.000
Open science0.0000.000
Research integrity0.0000.000
Insufficient payload (model declined to judge)0.0000.000

Machine scores (provisional)

The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.

Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.

Opus teacher head0.005
GPT teacher head0.211
Teacher spread0.206 · how far apart the two teachers sit on this one work
Validation statusscore_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from it

Classification

machine, unvalidated

Machine predicted; a candidate call from one teacher head, not a consensus.

The models applied no category: nothing in the taxonomy fit this work.
Study designNot applicable
Domainnot available
GenreEmpirical

How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".

Quick stats

Citations0
Published2018
Admission routes1
Has abstractyes

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