article thumbnail

CNOOC Installs Record-Breaking Offshore Oil Platform

OilPrice

The platform was installed at the Kenli field, at a depth of some 20 meters, which has proven reserves of some 100 million tons of crude oil. CNOOC has installed the largest and heaviest offshore platform at a field in the Bohai Sea, the company said today, boasting the facility was 22.8 meters high and weighed over 20,000 tons.

Offshore 233
article thumbnail

Why predictions of “peak oil” are always wrong: The mirage of “peak oil” in America

Oil & Gas 360º

(World Oil) – The media are reporting new predictions that oil production in America is in irreversible decline. Apparently, peak oil is back in vogue, like it’s 2005 instead of 2025. And nowhere is that dynamic clearer than in Texas, the powerhouse of American oil and gas. Previous inaccurate predictions.

Oil 130
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Department of Interior Proposes New Financial Assurance and Decommissioning Regulations

The Energy Law

In addition, the proposed regulations provide that BOEM would also consider the proved oil and gas reserves on the lease and the financial strength of predecessors in determining whether additional security was required.

article thumbnail

Department of Interior Proposes New Financial Assurance and Decommissioning Regulations

The Energy Law

In addition, the proposed regulations provide that BOEM would also consider the proved oil and gas reserves on the lease and the financial strength of predecessors in determining whether additional security was required.