Tag: deep-water drilling

By Ronald Buchanan in Mexico City

As the debate continues on deep-water drilling in the Gulf of Mexico, nobody mentions the country that gave the gulf its name.

Mexico plans to drill a well 2,600 metres deep in its part of the gulf. That’s more than twice as deep as Pemex, the state oil company, has ever drilled before, and shows how much pressure the company is under to develop deep-water reserves.

Pemex generates a third of the government’s revenues, but its production has slid as huge oil finds of the 1970s are exhausted.

Kate Mackenzie

We put together a list of the other ultra-deepwater leases in the Gulf of Mexico:

Kate Mackenzie

The question of what the Deepwater Horizon accident will mean for the future of oil extraction can probably be answered depending on one’s views. Jeff Rubin believes it could be a turning point for world oil supply; others are not so sure.

Either way, the disaster highlights the increasing intensity with which oil is being sought.

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