Friday, May 8, 2020

The Transition From Drilling On Shore - 1915 Words

Overview This project is dealing with the transition from drilling on-shore to more difficult tasks that companies are taking upon them with drilling off-shore into shallow and deep water. Since drilling for easy oil has depleted, companies are pursuing sources for the heavy oil by moving to offshore drilling. The project was originally approved in 2014, but since the approval of the project oil prices have plunged more than 50% percent in 2015. XYZ’s Houston refinery is located on the Texas Gulf Coast and has a capacity of 200,000 bpd. It is capable of processing mix of light and heavy crudes. The company for years has been considering an expansion project for the Houston based refinery, which can provide the company with an advantage due to the favorable heavy crude prices and light oil from the Middle East. The expansion would be beneficial because bringing the heavy oil from Mexico and Venezuela have both low shipping cost and lesser travel distance to the refinery. The expansion project would also benefit from the Trans-Canadian pipeline when it’s completed which would bring heavy oil from the Oil Sands in Canada. Objective The Houston Refinery’s current configuration refines light crudes with some capacity to refine heavy crude oil. With the proposed expansion the objective is to increase the capacity for the heavier crude oil at the refinery, the heavy crude oil would be brought in by tankers from Mexico and off-loaded at the refinery docks and piped into theShow MoreRelatedOff Shore Drilling Outline1820 Words   |  8 PagesIntroduction Attention Getter: We all need our cars to get us from point a to point b but with the price of gas being so high, many people ride the bus or train to save themselves from shelling out money at the pump. Spending money is an emotional process for most working class citizens, especially if it’s something that we need daily but alas we don’t have a choice. 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