by frankthetank » Sun 22 Jun 2008, 21:40:10
Some more...
$this->bbcode_second_pass_quote('', ' ')Opening new areas in the Gulf of Mexico, Alaska and elsewhere to exploration and production, as President Bush proposed Wednesday, would exacerbate those challenges, analysts say.
"Unless we have some sort of severe recession and demand drops considerably, equipment vendors, service vendors and engineers and construction laborers are likely to remain in very short supply," said Candida Scott, a senior director of cost and technology at Cambridge Energy Research Associates, the Massachusetts-based consultancy.
However, Ms. Scott and others say, even if the long-standing ban were lifted immediately, it could be a couple of years and maybe longer before any marked activity would take place.
$this->bbcode_second_pass_quote('', 'w')ay to secure adequate engineering resources, the organization has said.
The supply of drilling rigs is extremely tight. ODS-Petrodata, which tracks the rig market, says every semisubmersible rig and drillship available in North America is in use.
In some cases, oil companies would have to prioritize projects. If an outfit were able to gain access to a field that looked to have long-term potential, it might shift resources from an older, maturing field, said Scott Mitchell, an analyst with research and consulting firm Wood Mackenzie.