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BY THE NUMBERS 1979 2008 2004 1985 2010 1996 1988 2012 1993 1978 2007 2006 1990 1991 1981 2010 1999 1986 2010 1995 Pemex’s exploratory oil well blowout in the GoM 600 miles south of Texas spills 40 million gallons. The record peak of $145 per barrel in July, falling back to $32 per barrel by year end. Na Kika will become the deepest Gulf of Mexico production at 7,600 ft water depth. Offshore begins to bottom out. Exploration stopped as crude prices drop. Industry comes to a standstill. Macondo Well blowout occurs on April 10, killing 11 workers, and triggering a spill that takes three months to cap. Disaster triggers a 3-month moratorium on drilling in U.S. waters, launches new era of safety regulation. First spar production facility installed in the Gulf of Mexico in the Neptune fi eld. Series of explosions, fi res destroy the Piper Alpha North Sea Oil drilling plat- form, killing 167 oil workers; U.S. and Mexico agree to work together when drilling for oil & gas below their maritime border in the GoM. Petrobras layaway subsea tree placed in 6,000 ft of water. Shell Oil Co.’s Cognac production platform becomes the fi rst to sit in 1,000 feet of water. Oil reaches $100 per barrel. Successful test at the Jack 2 fi eld, in 7,000 feet of water and more than 20,000’ below the seafl oor, establishing viability of deepwater Lower Tertiary play. OPA 90 requires all tank- ers entering U.S. waters be double-hulled by 2015. Brazilian well is sited in 2,360 ft deep water; and supercom- puter workstation processes 3D seismic model. First offshore horizontal well drilled; fi rst Congres- sional Outer Continental Shelf leasing moratorium. Arrival of BP’s Deepwater Hori- zon at Macondo well in January Transocean introduces a dual-activity drillship. Oil Price hits Modern Low, falling below $10/bbl due to over-production by OPEC, worldwide recession. Perdido, an oil and gas spar production facility, is launched. It is world’s deepest oil develop- ment, and the deepest drilling and production platform. Deepwater Royalty Relief Act; Conoco installs fi rst concrete-hull tension leg platform in the North Sea. May 2014 10 MN MN May14 Layout 1-17.indd 10 4/21/2014 11:54:29 AM
