GoM deepwater production to increase through 2016

(OFFSHORE MAGAZINE) WoodMackenzie predicts deepwater Gulf of Mexico production will end its decline this year and show year-over-year gains to a peak exceeding 2 MMboe/d in 2016.   Production declined by almost 18% to 1.4 MMboe/d in 2011, according to WoodMac numbers.

The consulting firm notes there is no guarantee about the rebound, as several significant risk factors remain. However, if it does follow the prediction, it will be driven mostly by subsalt exploration and development.

If prices dip below $70/bbl, it would change the Gulf's production outlook. Shown, Thunder Horse, the largest platform in the GoM. Picture credit Andyminicooper.

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