Following the July 8 decision by a U.S. appellate court in New Orleans to uphold a lower court’s ruling that lifted the Obama Administration’s moratorium on deepwater drilling on the Outer Continental Shelf, the U.S. Dept. of the Interior on July 12 said its Bureau of Ocean Energy Management will issue narrower “suspensions” that will curtail most deepwater drilling activities through Nov. 30. Interior Secretary Ken Salazar says the new suspensions will apply to drilling operations that use subsea blowout or surface preventers on floating facilities. The suspensions allow for some limited deepwater drilling to continue, including emergency drilling related
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.