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Global Deepwater Oil Production To Hit New Record In 2019

Industry experts at Rystad Energy expect global deepwater oil production to surpass 10 million barrels per day (MMbbl/d) in 2019, an increase of 700,000 bbl/d compared to last year, as new offshore fields come online in places such as Angola, Norway and Nigeria.

New fields starting up offshore Brazil and the U.S. Gulf of Mexico (GoM) could further push total deepwater liquid production to 10.3 MMbbl/d. The Petrobras-operated Lula Field offshore Brazil, for example, has the capacity to produce 150,000 bbl/d, while the Royal Dutch Shell-operated Kaikias Field in the GoM is expected to produce 40,000 bbl/d.

Energy consultancy Wood Mackenzie believes 2019 will be “a historic year” for the GoM, with Shell’s Appomattox marking the first production ever from a Jurassic reservoir. Drilled in waters up to 2,200 m deep (7,400 ft), Appomattox is expected to produce 175,000 barrels of oil equivalent per day and is Shell’s largest project in the region. Read more

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