Things to Know About Offshore Oil Production
Ever wondered where we get the oil and petroleum that we used for operating vehicles, manufacturing goods, and generating power to residential and commercial properties? It’s all thanks to offshore oil production. It is all about exploring the ocean floors to look for sources of fossil fuels that would be used to produce. Here are some of the important things to know about offshore oil production:
Origins of Offshore Oil Production
It first started in Azerbaijan because, during the 1800s, medieval travellers like Marco Polo discovered that there is a spring there that discharges an abundant amount of oil. This was found around their capital city called “Baku”.
MODUs or Oil Rigs
There are different kinds of oil rigs or MODUs (Mobile Offshore Drilling Units): submersible MODUs for areas with calm waters; Jackup Rigs for areas with strong tidal waves; Drill Ships for drilling on deep waters; and Semisubmersibles that are also used for rough waters.
Challenges in Offshore Drilling
Even though advanced mobile offshore production units (MOPU) are used, oil and gas companies still face some risks when conducting sea oil explorations. One of which is the unpredictable weather conditions. Thus, it is a must for them to invest in durable MODUs.
Gas Prices
The gas prices do not depend on the number of new offshore sites and mobile offshore production units. It doesn’t mean that the more offshore expansion, the lesser the gas prices will be. This is because it takes quite a long time to bring the usable oil and petroleum to the gas market. So, there is no “right time” to invest in oil products- you can do it anytime, as long as your business needs it.
It’s Known as “Floating Cities”
Oil rigs are also called floating cities because these are platforms that house pieces of large equipment. Of course, there is a need to hire some industrial workers to operate the entire oil rig, so it became a mini-city.
These are just some of the interesting things to know about oil and gas production. If you want to know more about it, and if you are planning to invest in the oil industry, then check out Mopu Holdings in Singapore now!
Resource:
https://visual.ly/community/Infographics/business/things-know-about-offshore-oil-production
