16. April 2007
Drilliing of subsea wells is highly expencive, as rig rates now are up to USD 500,000 per day. Also, it becomes more and more challenging to reach the un-harvested reservoirs, which are often located in deep water or in arctic areas. It is estimated that 40 percent of the oil yet to be found is located in deep water or arctic areas.
The following article was presented in Oil & Gas April 16, 2007:
(Click on image for full PDF version of article)
(Source: Oil & Gas)