Oil is still making the world go round and oil rigs are that vital engine source that keeps it turning. No country knows this better than the United States. We’re operating full steam ahead to ensure traction for future production and sustainability. So much so, that this year, we’ve seen the number of offshore oil rig production in the US increase substantially. Fortunately, producers are expecting this will lead to a nice and much-needed boost in our economy. The following article from Essentra Pipe Protection Technologies discusses what’s actually happening with this steady rise in offshore exploration.
Why is Production Increasing?
In general, the world increases in population every single day. In fact, over 200,000 births are taking place around the world each day, and more people require more energy. Producers and economists are already speculating and preparing for this increase in global demands for energy.
Since the shale gas boom at the turn of the century, companies have traditionally concentrated on land rig productions. However, offshore oil rigs have much larger deposits of natural resources, and companies have now been cleared to increase exploration. Producers are looking to expand offshore rig exploration as a viable solution to future energy demands on a global scale.
What is the Potential for this Increase?
Currently, there’s an underinvestment in new oil supply. Yet, as prices slowly rise, the more access we have to our offshore resources, which eventually equates to increased demand. The US is pushing for more offshore oil rigs to help with the growth of oil export. US economists and our government believe this could help better position us in the playing-field for producing more oil to export. With this increase in production, there is great potential for boosting the US economy as a result.
The government has been planning to open nearly 25 offshore regions for drilling exploration where significant resources are available. As producers open these regions, the US can start benefiting from increased global exporting efforts, lower energy prices, and a healthier, more stable economy.
How Can Production Be Increased with Minimal Issues?
Some environmentalists still express concern over how and if offshore oil rigs inadvertently affect the marine life environment. Fortunately, the massive platforms and underwater sections play a significant role in reef formations and preserving natural undersea habitation.
On the other hand, damaged and/or poorly connected pipes can burst and lead to insurmountable problems. However, many oil and gas company operations today are held to a much greater standard than before. These companies take great care to ensure that operations maintain functions on the highest levels. They also continue to promote safety and efficiency in every facet of their operations and inner workings. This means they ensure that their pipes, connections, and operating equipment are carefully handled and properly vested with pipe protection products.
What is Essentra’s Role in Production?
At Essentra Pipe Protection Technologies, we create quality pipe protection, storage, and pipe handling products that producing companies can trust. Whether your company operates a rig offshore or on land, and regardless of increased production schedules, we help you deliver.
As it stands, the potential for new oil in the US is huge. And, new offshore oil rigs could lead to a huge boost in the economy over the next decade. Our main goal at Essentra is to deliver quality assurance to our clients with every product they apply. So, if you’re looking to maintain smooth, safe, and efficient oil rig operations, be sure to connect with Essentra today. Our products help maintain the integrity of your oilfield equipment during transport, storage, and operations.