Deepwater Offshore Gulf Long-term Development

An interview with Port Fourchon, LA Port Director, Chett Chiasson says that the drop in oil prices has not impacted the long-term offshore development in the Gulf of Mexico. Chiasson says "It's an unprecedented time. This is the busiest it's ever been." The Bollinger Shipyards is constructing four massive dry docks to serve 300 ft + vessels. Slips are being enlarged to expand capacity and more facilities are being built at Port Fourchon. Analysts predict deepwater oil production is experiencing one of the biggest growth spurts in history. Production is expected to reach a peak of 1.5 million barrels of crude a day by 2016. This would surpass the previous record set in 2009.