Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: BigBull who wrote (61143)	3/1/2000 9:40:00 AM
From: Big Dog	Read Replies (1) of 95453

Hey Bull...Blondes...now your talking! FPSO's are great for the US Gulf, they will work 'as-is', as they are working around the world now. The problem is that the MMS has not approved them for US use. There is now underway an EIS (Environmental Impact Statement) that will cover the use of these production tools for the US Gulf. If my memory is correct, the EIS should be completed sometime later this year. It has been a very long and tedious process. Even after the EIS is completed there will be more red tape, as typical with any govt matter. When can we see the first FPSO in the Gulf? Maybe a year or two...I don't know. There is nothing wrong with the technology. I think the man concern is about spills and response ability to spills -- even though this hasn't been a problem anywhere else in the world. PGO is a great pick for FPSO biz. FGH may get some construction business when approval is closer, but these vessels can be built anywhere and the eastern boys can outbid anyone else in the world - and FGH is not exactly a 'warm and fuzzy' place to do business these days. Bottom line - there WILL be FPSO's in the US Gulf within a couple of years. Maybe a bunch of 'em. big

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