• 4 hours Iraq Struggles To Replace Damaged Kirkuk Equipment As Output Falls
  • 9 hours British Utility Companies Brace For Major Reforms
  • 13 hours Montenegro A ‘Sweet Spot’ Of Untapped Oil, Gas In The Adriatic
  • 15 hours Rosneft CEO: Rising U.S. Shale A Downside Risk To Oil Prices
  • 16 hours Brazil Could Invite More Bids For Unsold Pre-Salt Oil Blocks
  • 17 hours OPEC/Non-OPEC Seek Consensus On Deal Before Nov Summit
  • 18 hours London Stock Exchange Boss Defends Push To Win Aramco IPO
  • 20 hours Rosneft Signs $400M Deal With Kurdistan
  • 22 hours Kinder Morgan Warns About Trans Mountain Delays
  • 1 day India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 1 day Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 2 days Russia, Saudis Team Up To Boost Fracking Tech
  • 2 days Conflicting News Spurs Doubt On Aramco IPO
  • 2 days Exxon Starts Production At New Refinery In Texas
  • 2 days Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 3 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 3 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 3 days China To Take 5% Of Rosneft’s Output In New Deal
  • 3 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 3 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 3 days VW Fails To Secure Critical Commodity For EVs
  • 3 days Enbridge Pipeline Expansion Finally Approved
  • 3 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 3 days OPEC Oil Deal Compliance Falls To 86%
  • 4 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 4 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 4 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 4 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 4 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 4 days Aramco Says No Plans To Shelve IPO
  • 6 days Trump Passes Iran Nuclear Deal Back to Congress
  • 7 days Texas Shutters More Coal-Fired Plants
  • 7 days Oil Trading Firm Expects Unprecedented U.S. Crude Exports
  • 7 days UK’s FCA Met With Aramco Prior To Proposing Listing Rule Change
  • 7 days Chevron Quits Australian Deepwater Oil Exploration
  • 7 days Europe Braces For End Of Iran Nuclear Deal
  • 7 days Renewable Energy Startup Powering Native American Protest Camp
  • 8 days Husky Energy Set To Restart Pipeline
  • 8 days Russia, Morocco Sign String Of Energy And Military Deals
  • 8 days Norway Looks To Cut Some Of Its Generous Tax Breaks For EVs
Global Energy Advisory 13th October 2017

Global Energy Advisory 13th October 2017

Tensions between Iran and the…

Kurdistan Accuses Baghdad Of Planning Oil Field Seizure

Kurdistan Accuses Baghdad Of Planning Oil Field Seizure

Kurdistan authorities have accused the…

Creating Artificial Reefs from Old Oil Rigs

Creating Artificial Reefs from Old Oil Rigs

One problem that oil companies suffer from, and which most people may not have actually considered before, is what to do with old drilling rigs and platforms.

Once upon a time they were just abandoned, but with federal regulators bearing down on the energy companies and ensuring that drill rig equipment is not abandoned, the operators must look for new solutions.

One such solution that is becoming popular in some states is the Rigs-to-Reef program, where parts of old gas and oil rigs are placed underwater in certain designated sites in the Gulf of Mexico.

Related article: Deeper & Smarter: The Subsea Oil & Gas Growth Outlook

Conservationists have said that the underwater rigs act as artificial reefs and provide good homes for fish, corals, mussels, and other underwater creatures. Drew Hunger, the decommissioning manager for Apache Corporation (NYSE: APA), who also runs the company’s rigs-to-reefs program, said that the rigs “will last in underwater reefs for a very long time.”

The program provides an option to the energy companies that will rid them of the unwanted rig equipment whilst at the same time saving them money, and has no negative environmental impact. The Texas Parks and Wildlife Department has been running a similar program since 1990 and estimates that companies involved have saved as much as $400,000 per rig.

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News