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Oilfield Fabrication concern
Posted on 5/12/10 at 12:44 pm
Posted on 5/12/10 at 12:44 pm
I work at an Oilfield Fabricator in the area. We build all types of vessels including many deep water projects. I am not trying to downplay any of the recent events just trying to get a status. Will the oilfield company's A) Stop all new projects until the see what new regulations and requirements are needed or B) will they hustle to get all new projects out before any new regulations are established? I know this tragedy will effect alot of trades just wanted to see what you guys opinion on my current job will be!
2
Posted on 5/12/10 at 1:54 pm to cigtyme
Well if they god forbid ban all new offshore drilling it is safe to say that fabrication of new structures and support vessels will take a big hit especially since most OSV's being built are with deep water and ultra deep water in mind.
Posted on 5/12/10 at 1:57 pm to bayoudude
What's crazy is the price of oil and gas will rise, which usually means the oilfield is happy. But now, it's gonna be because they can't drill new wells that will cause the increase.
Bad news in the short term and for jobs in our state.
Bad news in the short term and for jobs in our state.
Posted on 5/12/10 at 2:00 pm to the LSUSaint
quote:
Bad news in the short term and for jobs in our state.
Definitely. Not to mention there are a shite load of fabrication and repair yards employing thousands of people from Texas to Alabama.
Posted on 5/12/10 at 4:20 pm to bayoudude
quote:
Well if they god forbid ban all new offshore drilling
This is not even a remote possibility. There will be some immediate changes to drilling requirements in the next 4-5 weeks or so. Then an exhaustive review of the regulatory climate and overhaul of the MMS will precipitate long-term changes in regulation.
We will not stop drilling offshore or in deep water. It is where the oil is.
Posted on 5/12/10 at 4:30 pm to cigtyme
quote:
Stop all new projects until the see what new regulations and requirements are needed
We (the company I work for) are still going forward with every plan that was in the works for us to drill before the incident. Before you start drilling, you have to submit an APD to MMS (basically an application seeking permission to drill). MMS reviews, then either grants or denies the APD.
ETA: Premature submit button.
quote:
will they hustle to get all new projects out before any new regulations are established
We haven't pushed a single job up. At one point, MMS wasn't granting any permits. But that's not the case any more.
I'm definitely no expert, so take this with a grain of salt.
I don't see a big dip in the oil industry. There'll probably be some layoffs, but that's always happening.
New leases aren't being opened, but they weren't going to be opened by now anyway, so it's not the fault of the rig disaster.
This post was edited on 5/12/10 at 4:35 pm
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