The U.S. government on March 17 gave final regulatory approval for the first floating production storage and offloading facility in the Gulf of Mexico. The FPSO will be used instead of permanent production platforms. Operators in the gulf have not needed the technology previously because of the vast infrastructure that already exists in the Gulf of Mexico. The FPSO, the BW Pioneer, will have the capacity to produce up to 80,000 barrels of oil per day and 16 million cu ft of gas per day. The Bureau of Ocean Energy Management Regulation and Enforcement says the facility will soon be
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.