Shortage of vessels poses challenge for deepwater oil drilling

(NEW YORK) — President Bush faces one big obstacle in his quest to drill aggressively for oil on the Continental Shelf: a shortage of oil-service ships, the New York Times reported. Oil companies such as Petrobras are already facing challenges to hire enough vessel to exploit new deepwater oil and gas discoveries. Shipyards from South Korea to Norway are working overtime to fill the orders, but demand is still soaring as drilling has shifted from easy environments to more difficult deepwater areas.
Click here to view the newspaper’s story.
By Professional Mariner Staff